Economic development in China and India Essay Example for Free

Economic development in China and India Essay Foreign trade in China is almost completely dominated by the state. In 1979, China relaxed certain trade restrictions, paving the way for increases in the relatively small foreign investment and trade activity. By the late 1980s, yearly exports totaled about $41. 1 billion and imports $46. 4 billion, and both have increased sharply since then. China has been undergoing a dramatic transformation to a market economy. As a result, it currently is the world leader in terms of economic growth, industrial expansion, and exports. It contains an array of potential consumers that far exceeds the markets in Europe or the Western Hemisphere, and it is rapidly emerging as a new epicenter for industry, commerce, and finance. In addition, the so-called â€Å"greater China† has substantial amounts of technology and manufacturing capability, outstanding entrepreneurial, marketing, and services acumen in Hong Kong, a fine communications network and a tremendous pool of financial. When these resources are combined with the very large endowment of land, resources, and labor on the mainland, China already is a major superpower in the global economy. The people’s Republic of China (PRC or China, for short) has had a long tradition of isolation. In 1979, Deng Xiaoping opened his country to the world. Although his bloody 1989 put-down of protestors in Tiananmen Square was a definite setback for progress, China is rapidly trying to close the gap between itself and economically advance nations and to establish itself as an economic power in the Pacific Rim. Southeast China in particular has become a hotbed of business activity. Presently, China is actively encouraging trade with the West, and it is a major trading partner of the United States. Despite this progress, many U. S. and European multinationals find that doing business in the PRC can be a long, grueling process that often results in failure. One primary reason is that Western-based MNCs do not understand the role and impact of Chinese culture. Since the last few decades there has been a multifold increase in the FDI in China. The Chinese economy has now gaining the power of effecting the decisions of the economic bodies of the world. History of FDI growth in China: The country launched its open door policy 26 years ago. Since the policy introduction the FDI flows in the country received a quick response. In 2004 China was at no. 2nd position in the world of FDI with $64 billion. The Chinese FDI trends can be examined in two phases. First phase: 1979-82 Second phase: 1984-91 Third phase: 1992-99 In the first phase the government establish for special zones with incentive policies. Although there was a high inflow into those regions, the total FDI flow reached US $ 1. 8 billion. In the second phase the provinces were opened and recorded US $ 10. 3 billion. In 1989 however the trend dropped. In the third phase Deny Xiaoping opened China for overall economic reform. The phase was very fruitful for China. The government introduced new policies and market oriented economic reform. In result of these reforms the FDI’s started flowing into the Chinese economy at rocket speed. In November 1999 US-China had an agreement regarding the WTO, according to which many new reforms were made (Sandra, 2001) those included †¢ The sectors relating to the distribution services will be opened for repair and maintenance and China will phase in trading rights and distribution services over three years. The Government for the investment opened the telecommunication industry of China. †¢ The professionals were also allowed access to the service markets of China. The services included according, consulting, Information Technology and Engineering. (Lardy, 2000). FDI in China rose to a peak level of US $ 45463 million in 1998. In the first six months of 2002, actual foreign direct investment (FDI) in China rocketed to 24. 58 billion U. S. dollars, setting a record growth rate of 18. 69 percent year-on-year. (Beijing Time, 2002) On June 22, 2005, CNOOC, a Chinese company made a $18. billion bid to purchase Unocal Corporation, an U. S. energy company. News of the bid raised concern among several Members, many of who contend that the deal would threaten U. S. national security. On June 30, 2005, the House passed H. Res. 344 (Pombo) by a vote of 398 to 15, expressing the sense of the House of Representatives that a Chinese state-owned energy company exercising control of critical United States energy infrastructure and energy production capacity could take action that would threaten to impair the national security of the United States. On the same day, the House passed an amendment (H.  Amdt. 431) to an appropriations bill (H. R. 3058) that would prohibit the use of funds from being made available to recommend approval of the sale of Unocal Corporation to CNOOC. On May 20, 2005, the Chinese government reported that first quarter real GDP grew by 9. 4% in 2005 over the same period in 2004. On April 15, 2005, the Chinese government reported that its foreign exchange reserves had risen to $659. 1 billion by the end of May 2005. (Morrison, 2005) Some researchers state the fact that the data reported for FDI in China is different from the reality. The Chinese FDI data is overstated. About ? of flight capital later returns (â€Å"round-trips†) as FDI when opportunities emerge. (Gunter, 2004) From the early 1990s most of the researchers from International bodies have calculated wrong FDI. It is Mainland Chinese monies that flowed out to access better financial, regulatory and legal services and round-trip by returning to China as apparent FDI to access the fiscal incentives and improved investor protection offered in China to foreign investors. (Erskine, 2004) Outward FDI: â€Å"The figures on FDI outflows vary. According to China’s BOP statistics, the cumulative total during 1990 to 1997 was US$18. 9 billion, consisting exclusively of equity capital. Since the 1980s, China has been fast acquiring assets abroad. Researchers7 estimate that Chinese FDI in Hong Kong totaled US$20-30 billion by the end of 1993 or 1994. In fact the net wealth of Chinese affiliates abroad can be measured in hundreds of billion dollars. Officially, the Chinese SOEs had as many as 5 666 affiliates abroad at the end of 1998 with a combined FDI of US$6. 33 billion. (Chandra) Both the in-ward and the out-ward FDIs are a strong influencing forces which effect the trade performance of a country. This can be further explained by conducting the following case study. The study reveals increased value to Economy of China due to FDI. Source countries: Among the developed countries Japan United States are the most important investors in China. Hong Kong is also an important investor and newly industrialized (NIEs. From 1990’s some of the countries like Philippines Malaysia Indonesia have also increased their investment levels in China. Other countries are also showing interest in investing in China in future. In 2003, Sino-Japan trade reached a record high $132 billion. Examining the fast expansion of the bilateral trade suggests that direct investment from Japan performed a critical role in strengthening the economic integration between the two economies. Japanese affiliated manufacturers in China contributed to the soaring bilateral trade in dual ways: exporting their products as final products and intermediate inputs to Japan, and importing intermediates inputs from Japan for their production in China. In 2002, Japanese affiliated manufacturers exported 1,057 billion yen products to Japanese market (METI, 2003). The effect on China’s exports and its national economy is tremendous. (Xing, 2004) FDI from China: Not much material is provided regarding the subject. Although Hong Kong can be viewed as the destination for out ward flow of FDI from China. Sector and geographical distribution of FDI in China Sector Distribution: â€Å"So far, the major proportion of FDI is drawn for the manufacturing field, which takes up almost 60 per cent of the total contracted FDI by 1998. Next follows real estate with the share of 24. 4 percent. The portion of the distribution industry including transport, wholesale and retailing is 6. 0 percent. Construction comes next with 3. 1 percent. The primary industry such as agriculture, forestry and fishing takes 1. 8 per cent. In the future, service trade, such as finances, telecommunications and wholesale and resale commerce, will take up a larger share as a result of Chinese accession to WTO and further liberalization. Further investment liberalization should also take place in traditional industries. Especially, the expansion of FDI in agriculture will depend on the degree of opening up to the market circulation of agricultural products and the industrialized process of production operations. FIEs also generated nearly one fifth of the total tax revenues and 23. 5 million job opportunities, employing about one 10th of urban workers. These numbers suggest FDI has contributed nearly one quarter to one third of China’s GDP growth. †(OECD, 2004) Barriers in the way of FDI in China: The Chinese government has applied a controlled competition culture which against the liberalization provided by the WTO which lift most of the regulations from the trade commerce (Yoost, 2005) Many assets in commercial and industrial sectors are state owned. This in turn gives rise to the problem of hidden state regulation imposition of the government on the foreign investors. This strengthens the view that China does not practice liberty in Business. Some of the sectors of economy are still protected by the government. Due to the situation the WTO commitments are not fulfilled which gives rise to local competition for foreign investors Factors attracting FDI in India: â€Å"India is a prime offshore location for low and high-tech activities, its low-cost, English-speaking and IT-savvy labor force, coupled with a large market potential, underpin global executives improved outlook and investment confidence this year. † (Rediff. com, 2003) The first set of factors which was involved in bringing the FDI to India was the improvement in technology, cheap labor, cost effective production of the goods, cheap and efficient supply chain. The Indian Government also has the cutting edge of Channeling the FDI in the right direction. They are attracting most of the MNEs towards India because at present the Chinese economy can provide them with all the suitable factors desired. Due to its increase in population India has become a growing and profitable market for most of the MNEs products (Ahluwalia) The second set of factors, relating to SOEs, will change significantly and alter the market environment that foreign firms will face in India. Many if not the majority, of India’s best SOEs in industries accessible to foreign investors have set up joint ventures with foreign companies. In the foreseeable future, as the number of SOEs in the national economy continues to shrink, India will facilitate the entry of private domestic firms. MNCs will tend to build up their own affiliates rather than look for Indian domestic partners. At the same time, they will face more competition from private Indian firms as their numbers increase. All of these will become attractive features of the Indian market. Foreign invested enterprises (FIEs) have provided an alternative to private entrepreneurship because private Indian firms have been largely discriminated against. In the past 20 years, the highly efficient FIEs have contributed a great deal to the Indian economy. In 2002, even though FDI accounted for only one 10th of the gross fixed capital formation, FIEs contributed one third of the industrial output, one quarter of the value added, more than half of the exports, and nearly three quarters of the foreign exchange balances held in Chinese banks by corporations (Zhang, 2005). â€Å"The government of India eliminated export quotas as part of its effort to double Indian exports to more than $80 billion by 2007. India is the largest cotton cultivating country. The country has vast reservoir of scientific talent, established pharmaceutical industry, diversity of population and unique natural resources. Key to Indias development of biotechnology is the need for a science-based, rules-based regulatory approach, which is the best way to attract private sector investment. † (Larson, 2002) The major empirical conclusions of this paper are: (1) Much of the measured trade effect is through FDI rather than cost, as the theory of FDI would indicate, and that studies which concentrate on cost as the channel significantly understate the extent of such expansion. 2) On the whole bilateral country level, outward FDI has a larger predicted impact on Chinas exports than does inward FDI. On the other hand, inward FDI is found having a larger predicted impact on Chinas imports than does outward FDI. (3) There is much cross-regional variation and differences in the patterns of FDI-trade links. Regarding to the impact of inward FDI on Chinese trade, FDI is found to boost both export and import growth in Asia, Europe and Oceania. As far as outward FDI is concerned, a unanimous complement link between FDI and trade exists only for Asia, and Africa. (Yong, 2003) The work undertaken in this paper is an improved one because it takes into account all the aspects related to the FDI including a set of countries which contributes towards the FDI in China India, the contribution made by this paper is in more fully evaluating an important policy question regarding the effect of FDI. Second, it takes into account national changes both in inward FDI and outward FDI over a considerable period of time.

GMR Applications :: science

GMR Applications A Microcontroller-based scheme for measurement of magnetic field position using Giant Magnetic Resistor (GMR) in Contactless Measurement and Robotics Omidreza Esmaeili Motlagh Faculty of Electronic Engineering, Mazandaran University ( UMZ ), Babol, Iran Magnetic sensors in contactless applications: Magnetic sensors can be used for all sorts of applications where a contactless measurement of position and orientation is required. For instance in cars, where a large number of sensors are employed, magnetic sensors obviously have great advantages over their counterparts which involve the use of moving parts. Also they are variety of Magnetic sensors used in industry to simplify designs in different cases. For instance the current measurement using shunt resistor is in some cases impractical or impossible. For large currents the shunt resistors are heavy and they cause voltage drop and dissipate heat. They are not insulated and the conductor should be disconnected for mounting. Contactless current sensors may be used for remote conductors at high potentials, underground cables etc. Today a wide range of AC and DC contactless current sensors is produced. Also precise contactless magnetic sensors are always required by car industry, chemical industry and many other industries, for measurement of power and many other applications. Solid-state magnetic field sensors are moving into a growing range of new contactless applications because of their small size, low power consumption, and relatively low cost. The first aim of the project therefore will be to become familiar with different kinds of magnetic sensors, especially new GMR family and to investigate their characteristics and behavior in presence of applied magnetic field. [1] Giant Magnetic Resistor (GMR): Structure: The sensor consists of stack of magnetic and non-magnetic layers and Giant Magnetic Resistivity or GMR effects occur when these ultra-thin magnetic layers are set in close proximity to each other. Alternately magnetic and non-magnetic layers can be built up with the magnetic fields either parallel or anti-parallel, creating very sensitive low to high resistance components. The resistance of a GMR sensor as a measure for the applied field varies with the angle between the hard internal magnetization and the soft magnetic covering layers which follows the magnetic field. [2] The Giant Magnetic Resistor is a resistive device whose Ohmic value changes gradually only when a nearer external magnetic field changes its relative orientation and the originated field intensity or the distance between magnet and GMR are not relevant within certain limits. Any rotary button or knob containing a magnet on it, may work as a contactless switch when its rotation is detected by a GMR.

“Pride and Prejudice” offers an intensely personal story Essay

â€Å"Pride and Prejudice† offers an intensely personal story, and this story is written in light, airy, sparkling prose and is filled with witty and immensely entertaining dialogue. There are brilliantly drawn characters ranging from Elizabeth’s slightly eccentric mother to the gold-digging military officer Wickham. The two couples that I will be investigating in the following coursework are Elizabeth with Darcy and Collins with Charlotte. The two couples are both completely different in their relationships. The relationship between Elizabeth and Darcy is a peculiar one. Elizabeth first set eyes on Darcy at a public ball, and Elizabeth was not given the best if first impressions. This is because it was also the first appearance of Mr. Bingley and Elizabeth would have been comparing them both. Mr Bingley danced happily all night at every opportunity: â€Å"†¦Danced every dance, was angry that the ball closed so early†¦Ã¢â‚¬  Whereas Mr. Darcy: â€Å"†¦danced only once with Mrs. Hurst and once with Miss Bingley†¦Ã¢â‚¬  Elizabeth would be interested in a fun loving man, not some boring man that was too proud. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Or so she thought. When Mr. Bingley was in vain trying to persuade Mr. Darcy to dance with another Bennet his comment was: â€Å"†¦She is tolerable; but not handsome enough to tempt ME†¦Ã¢â‚¬  Although Mr. Darcy did not intend for Elizabeth to hear this, she did. And this brief meeting was enough to give Elizabeth a first impression, originally the novel of â€Å"Pride and Prejudice† was called â€Å"First impressions† and we can see why. So what of our second pair; were events more auspicious? Charlotte Lucas is a very close friend to Elizabeth, but even with this they have very different views on marriage and love. Elizabeth feels it is essential to have love in a marriage and she would not dream of marriage otherwise. Whereas Charlotte has a very different opinion, she thinks love is a bonus in marriage and not a necessity. She would be quite happy to marry blindly because all that she seeks in a marriage is social stability and the social status: â€Å"†¦Happiness in Marriage is entirely a matter of chance†¦Ã¢â‚¬  When Charlotte first sees Mr. Collins she is interested. She is not interested in his charming good looks, which is just as well, she is interested in his house, money and availability as a husband. Let us now consider the personalities involved in these two marriages. Elizabeth is the protagonist of the novel and the second oldest of the five sisters, she is lively, quick-witted, sharp-tongued, bold and intelligent. She is good looking, and is especially distinguished b her fine eyes. She has pride in seeing a person’s inner-self, yet this ability fails her on more than one occasion. Elizabeth is one of the few people to not be impressed by wealth or titles such as Lady Catherine De Bourgh. And what of her husband to be? Mr. Darcy is an aristocrat of great wealth. He is a proud man and conscious of class difference. Even though Darcy may be proud he still possesses honour. His pride is actually what makes him lose his pride; this is so because Darcy is very used to women falling at his feet but when he realises his adoration for Elizabeth she makes it clear that she isn’t interested. This challenges Darcy. And of our second couple? Collins is an extremely comical clergyman and adds a humorous side to the novel. His trademark is conducting very long and very silly speeches, the sole purpose of these speeches is to say what he thinks to the people around him. Another one of the purposes he has in the novel us being next in line to inherit Longbourn when Mr. Bennet dies. He thought it would help the Bennet family if he was to marry once of the daughters, but when this is refused he turns his affections to Charlotte Lucas. Charlotte is one of Elizabeth’s closest friends, but in the novel her main function is to act as a contrast to Elizabeth. She has little opportunity to find a husband whom she really loves so she settles for the social status and security a man like Mr. Collins can offer. What of the proposals towards Elizabeth? As I have previously stated, Darcy expects women to fall at his feet simply because he is used to it. But when I examine the relationship between Elizabeth and Darcy I see that Elizabeth had a deep hatred for Mr. Darcy. Although this is mainly due to the wrongful accusations imposed by Mr. Wickham, she thinks him to be a proud, cruel, insensitive and devious man. In reality Mr. Darcy is proud by mostly he is shy. Mr Darcy thinks he is successfully attracting Elizabeth, and the she knows it. When actually Elizabeth has no idea of this until Charlotte points it out: â€Å"†¦My dear Eliza he must be in love with you or he would never have called in on us in such a familiar way†¦Ã¢â‚¬  When the first proposal is made to Elizabeth she is absolutely outraged at how this man could think her to love him: â€Å"†¦you were the last man on the earth whom I could every be prevailed on to marry†¦Ã¢â‚¬  At this refusal Mr. Darcy was deeply hurt and left the room. We are not told the exact words of Darcy’s second proposal because firstly there is no need, and secondly Jane Austen chooses to leave the proposal to our imaginations. Elizabeth accepts this proposal because by that time she and Mr. Darcy are truly in love. And of the proposal towards Charlotte? Mr Collins only wants to marry because Lady Catherine advised him to, and he is not at all interested in love: â€Å"†¦make him the happiest of men†¦Ã¢â‚¬  The proposal was nothing at all towards the proposal of romance. This proposal was actually more of a practicality, something that had to be done before they could both do what they both intended to do; Charlotte wanted to find comfort in her children whereas Collins wanted to please lady Catherine. From looking at both relationships; Elizabeth with Darcy and Charlotte with Collins, I conclude that both couples are happy. Elizabeth and Darcy are happy because they both found their true loves and Elizabeth has the bonus of a husband of wealth and in ownership of a tasteful home. Collins and Charlotte are happy because Collins get to please Lady Catherine (which is all he seems to want to do) and Charlotte is happy because she was reaching quite a high age for unmarried status. The future is concerned is guesswork, but educated guesswork. And my educated guesses are that Elizabeth are and will always be truly happy as long as they have one another. Collins and Charlotte will also be happy in the future because; Collins never put any real commitment into marriage so has nothing to lose, and Charlotte will find comfort in her children. Jane Austen was very successful at putting her views across; she made her opinions obvious when she wanted to (which was not very often) and all of her opinions are justified by my standards and I think many others would agree.

Introduction to Computer Essay

Introduction to Computer Essay Management: Introduction to Computer 2 A computer can be defined as an electronic device, which manipulates data or information and has the capability and ability to process, store, and retrieve data. It can be used for document typing, internet searching, surfing, and emailing. Computer can also be used in handling accounting, spreadsheets, database management, games, and presentations. The development and production of the present-day computer is credited to the result of advances and progress in technologies and need for quantification. Abacus, which was one of the first counting machines, paved the way for the production and manufacture of computer (Kopplin, 2002). The first freely coded and programmable computer was invented in the year 1936, since then, different men and women have come up with new diverse researches, opinions, and finds that has propelled computers to their current state of functionality. There are many pioneers in this field, but in this paper, I am going to write a biographical piece of William Henry Bill Gates, as one of the key contributor, to the development and advancement in computers. William Henry Bill Gates otherwise commonly known simply as Bill gates is known worldwide as the founder of Microsoft. He was born on 28 October 1955 in Seattle, Washington in the United States of American to William H. Gates, Sr. and Mary Maxwell Gates (Burlingame, 2004, p178). He is an accomplished philanthropist, business magnate, author, and the chairperson of Microsoft foundation. He founded the software foundation and company with Paul Allen, who is also elite in the world of computers. Bill Gates is enjoyed a consistent ranking as one of the worlds richest people, who stood as the wealthiest from the year 1995 to 2009. In the course of his career and operations at Microsoft, Bill Gates held both the Chief Executive Officers (CEO) positions and the chief software architect’s position. He has also holds the largest shares of more than 8% of common stock in the company. Bill is not only a computer gig, but is also known to have coauthored or author several computer and lea dership books. Bill Gates has grown to transform into one of the best-known and world leading entrepreneurs of a self-initiative computer revolution project. Although many admire him, a number of business and company insiders have rose up to criticize his tactics in business (Schuman, 2001, p. 100). In these present and later stages of his momentous career, Bill has played a key role in the aid and donation sector. He has involved himself in a series of philanthropic endeavors, contributing and donating hefty amounts of cash to a number of orphanages in Africa, charitable organizations and schools and scientific research programs in various institutes through his Foundation, which was established in the year 2000. In January of the same year, he stepped down as the CEO of Microsoft, but remained as chairperson and chief software architect of the company. Gates announced his intentions of him relieving himself from full-time job to a part time one at the company (Bill Melinda Gates Foundation) in J une 2006. He slowly relinquished his duties and tasks as chief software architect to Ray Ozzie, and appointed Craig Mundie as strategy and chief research officer. He stopped his full-time day duties at Microsoft on 27 June 2008, but he remains and acts as a non-executive chairperson of the Microsoft Company (Solomon, 2009, p. 29). Bill Gates was born and raised in an upper middle class family. His dad was an established lawyer, and his mother was a member of the board of directors for the United Way and First Interstate BancSystem. In his early life, his parents had a law career option for him in mind. When he was 13 years, his parents enrolled him in an executive preparatory school known as the Lakeside School. During his eighth grade, a Club (Mothers Club) at his school bought for the school’s students a block of computer time on a General Electric (GE) computer an ASR-33 Teletype terminal. Gates developed an interest in the General Electronic (GE) system programming and got an exemption from mathematics classes to study and pursue the subject of his interest. Deploying all his energy and skill to the interest, he managed to write his first running computer program on the GE machine. It was a tic-tac-toe implementation, which allowed operators to play games on the computer, against the computer. He wa s greatly fascinated by his writing and the machine because of the perfect execution of software code. Upon the exhaustion of Mothers Club’s donation, Gates and other students searched for time on other systems such as DEC PDP minicomputers. Later on during the studies, one of the systems providers (PDP-10) banned Gates and other students from Lakeside school, from using it services, because they were caught exploiting bugs installed in the computer’s operating system to gain access to free computer time. After the ban, Gates chose to go to CCCs offices to study the source code for different programs that operated on the system, including machine language, FORTRAN, and LISP programs. He continued with the CCC’s arrangement until the year 1970, when the company collapsed. Information Sciences, Inc. hired four of the best Lakeside students to help it in the writing of programs for payroll in COBOL. It provided them with computer royalties and time. Gates good work and abilities, earned him recognition amongst many people in the business. His administrators had much delight and assurance in him that they gave him the opportunity to write the schools computer program that would schedule students’ in classes. He took up the task and executed it perfectly. At age 17, he ventured into writing traffic counters programs for Traf-O-Date. The programs were based on the processor, Intel 8008 and he did the work with some help from Allen, a coworker at the company. Gate’s over whelming good work managed to earn him a service as a congressional page in the United States House of Representatives in early 1973.