Abstract This paper explores the devaluation of the US dollar and its relationship to foreign currencies. The author presents two possible outcomes for this situation, one foreseeing dire consequences and the other seeing it as nothing alarming. The devaluation is considered in terms of developing nations linking their currency inflation rates to the US dollar. The role of the US Federal Reserve is analyzed in relation to this process as well.
Outline:
Abstract
Understanding the Current Crisis
The Current Situation and Potential Effects
Works Cited
From the Paper "In order to understand the current losses sustained by the US Dollar in what is otherwise considered a period of stable global economic growth, one must look at other periods of devaluation. During the Great Depression losses to bank deposits only amounted to 1.9% of the US GNP (Calamoris, 1993). Losses during other historical periods of economic crises, such as the 1830s, 1850s, and 1890s, are insignificant when compared to the losses that have occurred since 1982 (Calomoris, 1993). Calomoris does not feel that shocks such was wars, oil price hikes, or global downturns in demand have been to blame. Calomiris feels that government subsidies that encourage developing economies to take risks are to blame. These subsidies encourage spending and risk taking that the entities are not stable enough to handle. This places pressure on developed nations to foot the bill for the losses."
Abstract The paper discusses how the United States dollar has declined in value in the global economy. The paper examines how this devaluation has caused, and may continue to cause, problems in multiple nations around the world whose economy, at least partially, depends upon the value of United States currency. This paper explores the drop in value of the U.S. dollar, and examines the effects of such a drop on a particular country of interest, that of India. The paper concludes that, for India, the outsourced IT sector and many export industries, such as steel, software, and other goods and services industries, are and will continue to be harmed by the weakened dollar.
From the Paper "In addition to simple increases in prices for offshore U.S. companies, many of the IT service contracts and other offshore contracts are being redesigned, in an effort to share the burden of a devalued dollar between the U.S. holding company and the outsourced Indian corporation. By raising prices, but locking in those prices for specific time frames, or by giving a low introductory rate for outsourcing, while including formulas for gradual increases, these outsourcing firms can effectively balance the need for U.S. business with the growing concern over the weak dollar (Thibodeau and Hoffman, 2004)."
Abstract This document discusses currency crises and utilizes the Asian financial crisis of 1997 to 1998 and the Mexican peso crisis of 1994 as illustrative examples. In both of these examples, the writer notes that the currency crises were precipitated by sudden capital flights out of the markets in question which exacerbated the devaluation of the currencies. In essence, the writer maintains that currency crises occur because investors, internal or external, leave a market suddenly and with little prior indication. The writer concludes that regardless of how valid the investor assumption of impending currency devaluation is the fact of their sudden flight from the market always leads to the devaluation they were predicting.
Outline:
Abstract
Currency Crises in Asia and Mexico
Overview
Asian Financial Crisis
South Korean Crisis
Central Bank & OMO
Exchange Rate Behavior
Conclusion
Mexican Currency Crisis
Overview
Build up to Crisis
The Trigger
Conclusion
From the Paper "Thus, because of the currency speculators, who are typically foreign institutional investors, introduce a degree of risk simply through the size of their investment in a single currency that would not otherwise be there if the speculation was limited to smaller investors. While there are a whole slew of factors that must accompany a genuine currency crisis, in general, a crisis develops as these large institutional speculators perceive a decline in value of the currency and dump their investments en masse. The ensuing devaluation of the currency in question is unsustainable and the event often exposes other fundamental economic weaknesses that were disguised previous to the onset of the currency crisis, such as credit over extension in the market and a lack of foreign capital reserves."
Abstract Devaluation of the peso is being considered in the wake of the economic crisis that developed recently in Brazil and which is exerting negative impacts on the Mexican economy and placing increasing pressure on the peso in international currency markets. The pressure on the peso continues to be exacerbated by low-level of global demand for petroleum, which, in turn, affects adversely both Mexico's balance of trade position and the fiscal position of the national government in Mexico.
The proposed policy to devalue the peso is assessed through this research. The primary intended audience for this policy assessment of the President of Mexico and his advisers
From the Paper "CURRENCY DEVALUATION & OIL REVENUES: A POLICY ASSESSMENT
Introduction
Devaluation of the peso is being considered in the wake of the economic crisis that developed recently in Brazil and which is exerting negative impacts on the Mexican economy and placing increasing pressure on the peso in international currency markets. The pressure on the peso continues to be exacerbated by low-level of global demand for petroleum, which, in turn, affects adversely both Mexico's balance of trade position and the fiscal position of the national government in Mexico.
The proposed policy to devalue the peso is assessed through this research. The primary intended audience for this policy assessment of the President of Mexico and his advisers.
Abstract This paper relates the history of importing and exporting in the United States and introduces how the move from the 'gold standard' to the 'floating dollar' has affected importing and exporting for the US. It examines the devaluation of the dollar against the euro and examines how the US will need to learn new ways to deal with emerging nations, such as India and China. Finally, the paper looks at how globalization has changed the manner in which the US conducts business both at home and abroad.
Table of Contents:
Objectives
Background of the Study
US Steadily Growing Trade Deficit
Devaluation of he Dollar
Factors for Consideration in US Trade Relations with China
Globalization and the Changes in Conduction of Business both at Home and Abroad for the United States
Summary and Conclusion
From the Paper "The hope for promises of the NAFTA free trade agreement have not culminated in many positive situations and China has not followed the trade rules as closely as would have been desired initially however, new groundwork has been laid for coping with the complexities of the import and export trade with China which has been acknowledged as beneficial for both China and the United States. It will be of primary importance that China is held to the trade regulations in a transparent manner. Greater accountability and enforcement are the call-words for the future trade relations with China and other developing, emerging and rapidly growing countries involved in import and export trade with the United States. The United States has announced intentions to promote export trade with China and other developing countries and their markets."
Abstract This paper is a discussion, and analysis of the fiscal crisis currently facing Argentina. The author details some of the causes of the current crisis, including defaulting on the debt, the devaluation of the country's peso and political corruption. The affects of the crisis on the region's stability, Argentina's trade relationships with Europe and the United States are also discussed. The turmoil within the country itself is discussed in detail, and the author also offers some creative solutions to the crisis.
From the Paper "Despite criticism from some nations like Spain, who is heavily affected by Argentina's crisis, the International Monetary Fund (IMF) has so far refused to give any more aid to the country. However, many people blame the IMF for loaning "massive" amounts to Argentina earlier in their crisis, along with conditions requiring the country to tighten its fiscal policies. Now, Argentina is unable to repay these outstanding loans. Some of the over 130 million in debt was defaulted on in December, and "Critics say the IMF-imposed reforms have failed to work because they don't take into account the local situation. They argue that the insistence on debt repayment is what's brought Argentina to the brink of collapse" (Editors)"
Abstract The causes of the devaluation of the ruble as a world currency are myriad, many of them deriving from incidents that happened on or around October 11, 1994, known in International Monetary Fund circles as "Black Tuesday." On that day, the ruble lost almost 25% of its value, closing at 3.926 to the dollar, its lowest value ever.
From the Paper "INTERNATIONAL BANKING AND FOREIGN EXCHANGE RATES IN RUSSIA
The causes of the devaluation of the ruble as a world currency are myriad, many of them deriving from incidents that happened on or around October 11, 1994, known in International Monetary Fund circles as "Black Tuesday." On that day, the ruble lost almost 25% of its value, closing at 3.926 to the dollar, its lowest value ever. Only two days later, it recovered, climbing 20% to 2.994 to the dollar. However, the political backlash lingered long after the one-day ruble shock. The causes behind the crisis are also of far more concern than the event itself (Rose, 1998, 11).
One of the central causes of the crisis was politicking in the bureaucracy. The tight (for Russia) fiscal and monetary policies which had successfully brought inflation down to ..."
This paper reviews the history of child abuse, tracing the changes in the 16th, 18th and 20th centuries, and discusses the challenges that are faced today by the child protection system.
Abstract This paper explains that the history of child abuse and neglect in the United States is characterized by a conflict between two missions: a child rescue orientation, emphasizing the removal of children from unfit homes; and the family support approach, focusing on improving the social and environmental factors that lead to parental stress and child maltreatment. The author points out that, until the Middle Ages, there was no concept of childhood in the minds of most adults in the West; until children were age six or seven, they were considered infants and non-persons who were often uncared for and unwanted. This paper states that, at the dawn of the 21st century, children are no longer adequately cared for, and there are strong indications of a general devaluation of children and child-rearing; children are once again living under conditions that threaten their emotional and physical health because of society's perception of children as non-persons.
Table of Contents
Introduction
A Historical Overview
Child Sexual Abuse
Differences in Perception of Childhood
Child Abuse throughout History
Conclusion
From the Paper "Societies basically ignored child sexual abuse until after the "re-discovery" of child abuse in the early 1960s by Kempe and his colleagues. Kempe's construction of the "battered child syndrome" has been greatly expanded over the past three decades to include sexual abuse, emotional abuse and neglect. The increased growth of concern about child sexual abuse is greatly attributed to child advocates and the feminist movement."
Abstract This paper explores the U.S. dollar and the effects of its devaluation. The paper also argues the pros and cons of a weak dollar and examines measures the U.S. government and consumer can take to slow or prevent the the dollar's decline.
From the Paper "Since the beginning of advanced civilization, trade and economy has revolved around currency. Currency provides a uniform medium for the exchange of goods and services, and facilitates economic activity. As world economies become more and more reliant upon each other, the difference in valuation of national currencies becomes increasingly important in projecting markets. For the purposes of this paper, I will explore why the United States dollar has fallen recently in the context of macroeconomics, and identify the advantages and disadvantages of a "strong" national currency."
This paper argues that affirmative action policies for the purpose of recruiting specific candidates should no longer be implemented by businesses and universities.
Abstract This paper explains that affirmative action policies have led to the filing of legal complaints termed "reverse discrimination and unwarranted preferences." The author describes three famous affirmative action cases: "Regents of the University of California v. Bakke" (1978), "Grutter v. Bollinger" (2001) and "Gratz v. Bollinger" (2000). The paper concludes that organizations benefit by rejecting affirmative action policies: (1) Minorities will no longer feel that their peers are devaluing their accomplishments on the assumption that they only succeeded due to preferential treatment, (2) the quality of work will not suffer due to individuals who, despite possessing no actual merit, were admitted into an organization solely on the basis of promoting diversity and (3) the rule of nondiscrimination could be applied fairly to all people, instead of being suspended for the sake of individuals who once suffered past discrimination.
From the Paper "Affirmative action policies are designed to help organizations actively recruit individuals based on race, color, creed, sex, and ethnicity. It was supposed to serve as a way to eliminate past discriminatory actions that prevented certain individuals from obtaining an education and employment. President Lyndon B. Johnson's Executive Order 11246 first brought the notion of affirmative action into existence when it proclaimed that federal contractors were to hire and sustain employees regardless of race, color, creed, or national origin."
Abstract This paper discusses how, although written by a Hebrew scholar, "On the Book of Psalms" contains undeniable parallels that many Christian and Jewish readers will draw into their own personal beliefs in their introspective journey. It looks at how the author points out that Sarna is greatly dismayed by what he sees as the devaluation of prayer in modern day society because the descendants of David, the King to whom the psalms are attributed, today barely know how to pray. The paper concludes that the psalmist stands firm in his conviction that God's judgment upon Earth will restore moral order and set things right for all the days to come. The ultimate messages is that in the end, good will triumph over evil.
From the Paper "The philosophical intonation of Psalm Eight and its' acknowledgement of God as creator and ruler over all, is not left to settle there by the author. Through his extrapolation of this psalm, I found myself once again in analogous thought. Sarna makes it quite clear that concepts such as "Nature" and "Cosmology" are diametrically opposed to Israelite monotheism. Any attempt to attribute universal origin and order to either nature or the cosmos was deemed to be polytheistic. The Egyptian "Book of The Dead" is cited as doing just that, through its' description of the Sun God creating all the other gods. Sarna makes no attempt to hide the fact that he feels this book to be paganistic and mythological."
Abstract This paper explains that multiculturalism devalues culture because people accept different languages, traditions and habits of different cultures causing depreciation of the culture as they once knew it. The author points out that a culture must continue to be alive and the focus of the people or it will eventually be lost. The paper suggests that stereotypes of different cultures are portrayed that are not even similar to the real culture, such as Chinese restaurants. The author stresses that, when there is multiculturalism in a country, there is often discrimination toward different cultures.
From the Paper "In fact, most people think of the culture as a commodity that can be sold. For instance, a Chinese restaurant portrays the country of China? Does it? Is it not actually a commodity people buy? Ricci tells how this type of commodity devalues the culture for which it stands. While many people feel going to a festival where different multicultural food is served allow them to get a taste of what life is like in different cultures, but it does not. Often many of the food offered in these festivals are not like what the common people in the culture actually eat."
Abstract This paper explains that the premise of the argument against legalizing prostitution within the United States rests on the devaluation of female identity within society as women will be promoted as mere objects of male sexual aggression and patriarchal institutions. The author points out that the basis for arguing against the legalization of prostitution revolves around the issue of what is moral in society in regards to the law. The paper relates that proponents for legalization often cite ideological reasons for allowing a regulatory governing body to control underage victimization of female prostitutes; however, this will not end the cycles of abuse. The paper concludes that a more matriarchal construct to regulation, which allows women of a mature age to freely choose their profession, might be realistic, but the current patriarchic governments would not provide these regulations within the framework of legalization.
From the Paper "This point of view from opposing countries defines how women in government act as agents that defy the premise that legalization will only help the condition of female prostitutes that are supposedly being supported by the government. The reality of German prostitution is that government is turning away from regulation, as can be seen in the sex booths provided at the World Cup by the German government. If this is a form of regulation, then the often victimized and kidnapped women from foreign countries being allowed at German events is a premonition of what conditions might be like for lower class and disenfranchised women in the United States."
Tags:devaluation, female identity, military germany patriarchic
Abstract The paper discusses America's trade imbalance with China that is fueled by China's failure to prevent copyright infringement and the sale of counterfeit goods as well as China's artificial currency devaluation. The paper also looks at the issue of Chinese spies stealing industrial secrets from American and European firms. The paper provides suggestions for improvement and argues that America needs to peacefully use their economic position to force China to compete fairly. The paper asserts that America should use legal, diplomatic and media pressure to force China to behave ethically.
From the Paper "The United States and China have a long history of hostility and distrust. In recent years this hostility has centered on several economic issues. These include America's trade imbalance with China, a deficit fueled in part by a huge Chinese market in pirated American intellectual property and brand name knock-offs. Further, U.S. and European firms claim that Chinese industrial spies have stolen technology for products ranging from computer chips to cruise missiles."
Abstract This paper discusses the economic impact of the Mexican peso crisis that occurred in 1994. It describes the events that led up to the devaluation of the peso and the impact of the development of the crisis. The paper then discusses the rescue package to bailout the failing economy and describes the impact that the crisis had on the world at large.
Table of Contents:
Abstract
Introduction
Literature Review and Theory
Analysis
Conclusion
From the Paper "The pesos continued downgrading raised questions about Mexico's ability to service the short-term foreign currency denominated debt. The Washington consensus feared that Mexico would declare foreign debt moratorium or re-impose trade and exchange restrictions after NAFTA had been signed, which may have spread contagion to other member countries. Thus, in February 1995, they provided financial rescue package to Mexico for debt restructuring. The financial rescue package totaled $48.8 billion. The IMF stand-by credit of $17.8 billion was the largest ever both in terms of absolute amount and in relation to Mexico's holding in the Fund. The financial rescue package was provided conditional upon a stringent adjustment program designed to collaborate with the International Monetary Fund. The rescue loans allowed Mexico to swap the short-term financial obligations to mid to long-term. Due to the financial rescue package, Mexico's external total debt rose from 38.3 % of GDP in 1994 to 69.1% in 1995. Even though IMF has been criticized for its improper policies and procedures and ignorant handling of bailouts, the Mexican government was influenced in terms world organizations due to the peso crisis of the 90s."
