Ernest Hemmingway’s For Whom the Bell Tolls Essay Example for Free

Ernest Hemmingway’s For Whom the Bell Tolls Essay There is a lot of symbolism in the novel For Whom the Bell Tolls. Ernest Hemmingway characterizes the inner struggle that exists in men who engage in war. The motivations and passion begin to erode, leaving desperate men in a struggle about which they no longer feel strongly. As the novel progresses, the characters of Robert Jordan and Maria grow with the love they have for each other and the progression of their ideas about war. This growth carries them through the novel and eventually through very different paths. The character of Robert Jordan is brought to new depths of character when he meets Maria. Jordan liked to remain by himself, and he had no concern about dying on the battlefield. Additionally, the character Maria is at first a meek, traumatized victim of abuse in a prison camp. When Jordan and Maria meet, they change dramatically. Jordan’s love for Maria heals her from the wounds she suffered at the hands of men back in the prison. At the same time, Jordan comes to value his life more when he has new feelings evoked by his unity with Maria. Together they make plans to make a life with one another back in the United States, and that becomes the inspiration that carries Jordan through the war. Hemmingway’s genius for metaphorical depictions is further described by the a emotionless Robert Jordan, who has entered the war after leaving his professorship back in the United States. He takes up the Republican side of the Spanish Civil War, and his genius working with explosives earns him a higher position. At the start of his service in the war, he believes in the cause very strongly, but at the novel’s beginning, he has become worn down and disillusioned with the cause. The distinction between the Republican cause and the Fascist cause have blurred and he begins to wonder if both sides aren’t actually the same. His continued service in the war is almost robotic, he is no longer impassioned to the cause on either side. At the novel’s conclusion, Robert Jordan faces death, the denouement of his internal conflict being resolved as he finally is able to identify himself – not as a man of whose function lies only in his ruminations but rather, a man who acts on his instincts. He has been involved this war for too long despite becoming disillusioned long ago. He is tormented by the things he has done, but he ultimately realizes he needs to forget the past to refrain from making mistakes in the present. He focuses on his love for Maria and at the moment before his death, he is at peace and finally feels a connection with the world around him. The first metaphor was the snowstorm that occurred in May and hampered the progress of guerillas as they set out to detonate explosives on the bridge. The character Robert Jordan watches the snow whipping around him and describes the scene: â€Å"it was like the excitement of battle except it was clean† (Hemmingway, p186). He enjoys the fact that the snow and weather in general is beyond his control – unlike the war he is currently enduring. He is also glad that the hindrance of the snow can completely disable man’s technological innovations and stratagems for taking lives. The snowstorm is a foreshadowing element used in reference to the upcoming deaths of El Sordo and his band. It is the snow that leads the fascist soldiers on their trail and eventually leads to their demise, destroying any reinforcements for Jordan’s troops. The wildness of the snowstorm is mirrors the chaotic ending in which the soldiers run around aimlessly. Another metaphor in this novel is the bullfight. Bullfighting is referenced in the novel as a direct parallel to the senseless violence in war. The bull represents the powerful force and the matadors represent the bravery of men. In these fights, death may result but it is a minor risk for the ultimate reward of honor. Joaquin long dreamed of becoming a bullfighter, and when he tells this to his fellow guerillas, he suffers much ridicule for being too afraid to go through with his dream. This condemnation is indicative of the valor that men must have, putting their fears behind them and face death without flinching. Finito was described as cowardly – a matador who was terrified, but inside the ring, he had the courage of a â€Å"lion†, looking the bull in the face and confronting it (Hemmingway, p185). For Whom the Bell Tolls is a story about the hardships of war. As Robert continues through the war, he undergoes many changes and has his entire perception of the world changed through the lens of war’s devastation. At the end, a gentle peace takes hold of him as the character matures to his height of spiritual connectedness, and this is quickly followed by his death, the ultimate p

Health Education Tool Development Essay Example for Free

Health Education Tool Development Essay Modify or create a health education tool that is appropriate for your participating family. Ensure that your tool achieves the following:  · Identifies the family’s health and educational needs  · Establishes educational goals and objectives  · Uses appropriate educational methods  · Uses the appropriate language and literacy level  · Is sensitive to the family’s cultural or religious background  · Makes use of the types of technology resources available to the family  · Include all supporting materials (handouts, Internet resources, demonstrations, or sample materials) Explain how you will deliver your health education tool to the participating family. Address the following:  · How the tool was selected, modified, or created  · Why the tool is appropriate for the family  · How the tool addresses the family’s health needs  · How the tool relates to the Healthy People 2020 Health Indicators  · How the tool coordinates with, complements, or replaces community health services  · If you modified an existing health education tool in any way, provide a reference to the original material. Prepare a 10-minute presentation of your health education tool. You many use one of the following formats:  · In class oral presentation  · Microsoft ® PowerPoint ® including speaker’s notes  · Video of yourself presenting the information uploaded to a video sharing website such as Youtube.com (Submit a link to your facilitator)  · Another format approved by your facilitator Note. You will not a Find needed answers here https://bitly.com/12BuYnS Speak with your professors daily to build strong relationships. Professors are the ultimate resource and can do a lot to help you along the way. Be sure to help if the opportunity presents itself and ask a lot of questions. Maintaining these good relationships can be advantageous while you are going to college. General Questions General General Questions Resources: Windshield Survey; Community Assessment; Family Assessment; and Assignment Grading Criteria: Health Education Tool Development and Presentation Modify or create a health education tool that is appropriate for your participating family. Ensure that your tool achieves the following:  · Identifies the family’s health and educational needs  · Establishes educational goals and objectives  · Uses appropriate educational methods  · Uses the appropriate language and literacy level  · Is sensitive to the family’s cultural or religious background  · Makes use of the types of technology resources available to the family  · Include all supporting materials (handouts, Internet resources, demonstrations, or sample materials) Explain how you will deliver your health education tool to the participating family. Address the following:  · How the tool was selected, modified, or created  · Why the tool is appropriate for the family  · How the tool addresses the family’s health needs  · How the tool relates to the Healthy People 2020 Health Indicators  · How the tool coordinates with, complements, or replaces community health services  · If you modified an existing health education tool in any way, provide a reference to the original material. Prepare a 10-minute presentation of your health education tool. You many use one of the following formats:  · In class oral presentation  · Microsoft ® PowerPoint ® including speaker’s notes  · Video of yourself presenting the information uploaded to a video sharing website such as Youtube.com (Submit a link to your facilitator)  · Another format approved by your facilitator Note. You will not actually deliver this health education tool to the participating family. The tool is developed and presented only to your classmates and facilitator. Submit the following with your assignm

Financial Derivatives Advantages and Disadvantages

Financial Derivatives Advantages and Disadvantages CHAPTER 1 INTRODUCTION BACKGROUND Financial derivatives are often an efficient policy of the risk management as they are been used in modern economy worldwide. Financial derivatives grow on huge scale and very significant into well accepted definitions, measurement and the revelation of the conventional financial accounting essentials. Financial derivatives have many advantages and they have been used worldwide. Though, some risks occur in the use of financial derivatives, the management of the financial derivatives become more essential in the modern economy. With the rapid growth of the modern economy, more financial risks exists during the development process which involves the frequent use of financial derivatives, the use of the derivatives assist against potential risks and use of financial derivatives also reveals to the user a huge risk. Financial derivatives are also important through the progress of financial derivatives. Globally, the world economy is fast growing which is leading to so many difficulties in the financial derivatives worldwide which are creating more problems for financial derivatives. However this problem requires the introduction of regulatory body such as government to take over in order to supervise the financial derivatives. The supervision of financial derivatives plays a vital role in modern economy while lack of regulation in financial derivation will lead the financial market into disorder, chaos and confusion. This might destroy the entire nations economy. Financial derivatives without regulation will attract a big potential economic risk. For the financial market globally, such economic crisis affects the economy worldwide. OBJECTIVES OF THE STUDY The Peoples Republic of China has a huge economy which is growing rapidly. There are various types of financial derivatives in china, which are widely used in the financial market. This research will analyze the financial derivative in Chinas financial market and also discuss the classic supervision (regulations) and the analysis of the performance of the supervision procedure. China financial market, its advantage and the risks that exist in the classic financial derivative in China will also be reviewed. This research will reveal major classic in the various types of financial derivatives in china and verify the uses of all the financial derivatives in order to demonstrate its performance of those financial derivatives. The supervision of financial derivatives will also lead to reviewing the Chinas financial environs. The major purpose of this research is to establish the usage of financial derivatives against the financial derivatives. The findings of the research from both the financial derivatives and role of supervision in China will provide an overall insight in the China financial market and also conclude by making some recommendation on the usage of financial derivation and the status of the supervision of financial derivatives in China. STRUCTURE OF THE RESEARCH This research reviews the overall literature on financial derivative in the past with a focus on the impact of the financial derivative, the benefits of the practise of financial derivative and the potential risk of the use of financial derivative. The supervision of the financial derivative analysis will be reviewed with the use of Journals and report. Subsequently, this research work will focus on the case study for the research methodology; the case study is Chinas financial market. This research model information is gathered from both Chinas financial market and the supervision of the financial derivatives in China. Information is however collated in china using the position of a standard financial derivative in China. Using the position of a standard financial derivative in China, the analysis of financial market in China is reviewed with some journals and reports which were used as the data in support of the research and the most vital data is collected by the Chinese national statistics. The research will use both the qualitative and quantitative analysis method, this used to analyse the research data. From the research of classic financial derivative that is practised in China and the supervision of its financial derivatives. This research will adopt the SLEPT method (Social factor, Legal factor, Economic factor, Political factor and Technological factor) to review the countrys financial markets while the SWOT (Strengthen, Weakness, Opportunities and Threats) method will be used in reviewing the financial derivative in the direction of the Chinas financial market, the functions of the supervision of the financial derivatives in China will also be reviewed. Finally, there will be brief conclusions and provide some recommendations on both China financial for market and supervision of the financial derivatives. The limitations of the study will be highlighted and references for further reading will also be listed at the end of this research. CHAPTER 2 LITERATURE REVIEW THE IMPACT OF FINANCIAL DERIVATIVE Financial derivatives have direct influence on the organization as it is a good policy of risk management. Froot et al (1993) observed that the peak level of investment and capital spending are selected at the same time. They recommend that financial cost risk management should have a particular dominant goal; this enables the company to have access to cash to make price improving investments. The risk management model rely on the fundamental premises that the essentials of establishing corporate value is creating good investment and the essentials to creating good investment is generating adequate cash within, in order to use it to find those investments. Nance et al (1993) and Mian (1994) discover statistically important clear relationship between the tax credits and the practise of risk management instruments. Dolde (1995) reported a clear and an important relation between tax loss carry forwards and the practise of risk management instrument which include hedging. Bhandari (1997) found that calls for supervision through a rise in legislation are not generally accepted. Although the main focus of the supervisory body is that the stability of inter market could be strictly undermined without greater supervision. Guay (1999) studies financial derivatives responsibilities in organizations by initiating derivatives practises. The outcomes were consistent with organization practising derivatives to hedge and not to expand, entity risk. Organization risk is measured in different ways which reduces following the use of derivatives. The study observes a decrease in risks and decisions to introduce derivatives programs vary from hedging. The outcome highlights the significance of hedge accounting laws that incorporate the influence of derivatives and hedged items at the same time. Fender (2000) discovered some basics of corporate finance of monetary economics examine the influence of corporate risk management policies on the monetary transmission system. They employed an easy model of a financial speed up to sort the information asymmetries, they are the core of the entire models of the transmission system, it establish motivation for corporate hedging activities, that is cash flow administration, they realise that these principles, in turn, reduce the influence of monetary policy degree which is lower to the clear cost of capital effect. Billing (2002) described the reasons behind the protection and enlightened on how auditors should review the different problems raised from the utilisation of financial instrument. Heilliar et al (2004) accessed the influence of financial reporting standard 13: Derivatives and different financial instruments, implementations and disclosures which focus is on the treasury department responsibilities. The researchers deliberately conduct interviews with the workers of the UK treasury department in order to review their behaviours towards and observed the impact of FRS 13. At large, the treasurer reply at an advantage to the standard and carefully reviewed the narrative disclosure to be specifically useful. The numerical disclosures were comprehensive and focused. The rapid growth in the financial derivatives also has an influence on Chinas financial market. Ba Shusong (2004) believes that financial derivatives have played a vital role in the growth of Chinas market. Subsequently, El-Masry (2006) stated that big firms often used derivatives than average or smaller firms, public companies often use derivatives than the private companies. The use of derivatives is ultimate in the midst of international firms. The findings reveals that most firms that do not use derivative instrument is attributed to the fact their experiences are not important and the major reasons they avoid derivatives are, they focus on the experiences required by FASB rules under derivatives activity, fees of creating and sustaining derivatives activities go beyond the expected profit, foreign exchange risk is often managed with derivatives and interest rate risk is often managed with derivatives and interest rate risk is risk that is subsequently managed risk and the study reveals that the main reason for the use of hedging with derivatives is supervising the volatili ty in liquidity. Bartram (2006) explores the incentive and use of non financial firms with respect to using options in managing risk activities. The study realized that an important number of 15 55% of the companies not within the financial sector practise the options which shows the fact that options are very flexible risk management instrument which can be useful to hedge different types of exposures both linear and non-linear, it also discovered that it rely on the correlation between price and quantity risk, the optimal hedge portfolio involve different combination of both linear and non linear risk management instruments. The accounting ways and the effects of liquidity can influence the selection of derivatives. Eckstein et al (2008) studied the impact of organization using derivatives which applies Statement of Financial Account Standards (SFAS) no 133; it shows the degree of cumulative effects of differences in accounting formulas from the annual income statement adopted, market response to earnings pronounced and the major effect of financial ratio. The outcome reveals that the important negative unpredicted returns were noticed around earnings pronouncement dates. Abnormal earnings correlate with the cumulative effect instead of the differences in earnings per share from operations which reveals that surprises connected to changes in accounting, it is also established that companies with resources unrealized profit and losses are connected to hedging with derivative instrument. THE MERITS OF FINANCIAL DERIVATIVES There are several advantages of financial derivatives from 1990s McAllister and Mansfield (1998) studies the responsibilities and ability of financial derivatives investment property portfolio management and also focus on the difficulties of direct investment in commercial property. They also analyse and the major principles and all different types of derivatives, they rounded it up that the possibilities of financial derivatives to mitigate most of these difficulties which are connected to direct property investment that are studied. They also decided on Property Index Certificates (PIC) have been narrowed by down with shareholders and ought to produce rise in interest rate and the use of derivatives product within the assets both in the UK and global institutional shareholders. Tyler and Stanley (2002), Counter Sheedys call for further readings through the practical examination of the equity derivatives market in US and UK, quarrelling that while link in this market do, to a certain degree, showing features a typical of broader and indeed inherent, to over-the-counter derivative exchange. After that, Zivney et al (2006) discovers the possibilities of using dividend plans by individual shareholders. This plan was raised from the 2003 tax law changes which reduce tax rates on dividends received while abandoning the short term tax rate on capital losses unaffected. Freeman et al 2006, realize that the credit derivatives market is control by high ranking banks and insurance firms that engage in business among themselves. The growth of credit derivatives market develops into more liquid and transparent. Freeman emphasized that there are various easy and practical ways in which organisation can use credit derivatives to manage risk to show the empirical strengths and weakness of a particular approach. Klimczak (2008) produced a detailed assessment of the main contemporary firms hedging theories. The study focused on a sample of 150 companies listed on the Warsaw stock exchange which shows features shared by companies using hedge. RISKS ATTACHED TO FINANCIAL DERIVATIVES From the above literature review it is no gain saying that financial derivatives are advantageous on risk manages of finance. However, some risk occurs in the operation of financial derivatives. Financial derivatives have been faced with so many criticisms this mostly is due to large loose because of leverage and borrowing. Laker (2008) examined that as the derivatives permit shareholders to earn huge returns from small movement in the basic assets price. Though shareholder might lose more money if the basic asset price moves against them drastically and the financial derivatives might expose shareholders to counter party risk and all types of financial derivatives have different risks at different level to this effect. Also financial derivatives will stand as an unsuitable large amount of risk for little and mostly for shareholders who lack experience as financial derivatives offers chances of huge rewards and so many attractions even to individual shareholders. However, speculation under derivatives most presumes a great deal of risk consisting commensurate experience and good market idea which favours a small shareholders, this is the purpose why some financial advisers are opposing the use of these instruments. Derivatives are complicated instrument as forms of insurance in transferring risk among a ll parties involve which presume an additional risk. Laker further identified that financial derivatives often have a huge estimated value, as a result of that there is a high level of risk and shareholders might lose much without been compensated. As stated by Berhire Hathaway inc. (2002) on the annual report, that there is a possibility that this could result in a chain reaction and subsequently in an economic crisis. Also Rawles (2006), financial derivatives enormously leverage within the economy, which makes it more complex for the basic real economy to facilitate its debt requirement and restricting the real economic functions which often lead to economic recession. THE SUPERVISION OF FINANCIAL DERIVATIVES ANALYSIS The supervision of the financial derivatives should be acknowledged as both the advantage and risk that are present in financial derivatives. Though, there are few journals which analyse the supervision of financial derivatives, in the late 1990s, Shah (1996), identified that in the rise of huge losses from derivatives dealers and end users in modern years, many issues are being highlighted as regards the regulatory structure that is necessary to supervise and control the use of derivatives, it disagree that the principle in which the issue can be resolved by strict internal policies whereas regulators assume it is necessary for more precise oversight is misplaced though it still can be use for hedging, Derivatives involves high risk technology which often pose problems for regulations and its functions. Recently, Kern (2001) identified that the global regulation of financial markets became obvious in the 1970s with regards to post Bretton Woods liberalisation of financial markets. The removal of the fixed exchange rate equal the outcome of gold in the privatisation of finance risk, which established tension to eliminate the functions of cross border capital movements and more deregulation of the financial market. However, there is need for general regulatory body to build safe and reliable financial institutions such as bank through an efficient management as systemic risk in general market. Also it is necessary for international standards of supervision to also be acknowledged to avoid solvent in the financial institutions in one jurisdiction from the business to collapse to a less reputable institutions functioning in other jurisdictions whose rules only allowed cut rate financial services and more risky financial functions. The privatization of financial risk leads to establishme nt of financial institutions to blow out their risks over to many resources and functions which lead to an important rise in short term cross border portfolio asset which could reveal capital importing nation to increase system risk which was cause by volatility of such investments. Gilnen Tabak (2007) established a new substitute for gathering information on risks that exists in financial institutions which assist in analysing the risk tools which are found in risk management. This method assists risk managers, supervisors in analysing the potential risk in financial institutions because of derivatives position. The main idea is the linear financial instrument which is also referred to the traditional method often used by management risk system it assist in decreasing roles in risk factors and defend the responsibilities of financial derivatives while the non-linear instrument have roles with different options which are represented as clear as European options. The study shows the proposed method captured the risk occurrence in policies that consists of options with an accepted error margin. CHAPTER 3 DATA ANALYSIS AND METHODOLOGY CASE STUDY The case study of this research will be the the Republic of Chinas financial market; this research analysis will focus on the Chinas financial market, together with the growth of the socialist market of the real economic structure. Chinas financial market is growing with the ongoing exploration. Currently, Chinas financial Market is essentially established as a pure division of the financial system. Chinas financial Market has started forming and many financial commercial have been developed, this includes Bonds, Stock and commercial bills. The capital loan and a bargain securities markets were established steadily after 1985. During the 1988, treasury bonds were established in the transfer market in major and average cities in china. In 1990 shanghai stock exchange was created and 1991 Shenzhen stock exchange was also created. Both stock exchange in 1999, release 98 A shares and 117 subsidiary shares, increasing 87.7 billion Yuan, which increase the total number of companies listed to 976; the aggregate increase in foreign capital is about US$610Million with the use of issuing B and H shares. China releases 1.5Billion Yuan of A shares which can be transferred into bonds. In 1994, 94.1 billion Yuan was realised from issuing and selling stocks. The level of the transaction in the stock exchange by 1999 surpass 5,000 billion Yuan and it was summed up to about 401.5billion Yuan which was the value of government bonds issued and 191.1 billion Yuan was government bonds value in cash. This fund has successfully improved the financial status of the listed companies and a rise in the sources of money for technological transformation of the public banks and financial markets. In recent years, the financial market in China has been undergoing a rapid growth, Neftci and Yuan, Michelle (2006), stated that China financial markets shows about $2 trillion and are anticipating the market to grow to about $10trillion by 2008, the china financial market continues to expand its investment with a view to ensure that their operations are successful. RESEARCH AND DATA COLLECTION There are different types of financial derivatives found in Chinas financial market which are vital for the growth of Chinas financial market. The use of the financial derivatives has led to many financial difficulties in the rapid growth of the financial system, there is need for regulators to be more effective and implement more laws on the supervision of the financial derivatives. This will help to determine and regulate the stability of both the China financial market and the supervision of financial derivatives in china. Classic materials similar to the financial market and financial derivatives in China will be used as a guide. Other source of materials will be from the internet, textbooks and journals. This research work is structured to determine the supervision of the financial derivatives in China. The China financial market is chosen as a case for the analysis. The source of the main data is from China, National Statistics of China; and few of the firms annual report will be used for the data analysis. This research work will further focus on the nature of the Chinas financial market and the outcome of the financial derivatives in China and the supervision structure of the financial derivatives in China. The SLEPT (refer to Social factor, Legal factor, Economic factor, Political factor, Technological factor) method will be used to examine the general system of the China financial market, it will also focus on the classic findings of financial derivatives and also on China financial system in order to examine the nature of the financial market in China. From the results, the research will be based on the nature of the financial derivatives in China to examine the impact, introdu ction, growth, transactions and practise of the financial derivatives on the Chinas financial market. This research will also examine the supervision of financial derivatives in Chinas financial market in agreement with related articles and also to make some recommendation on the supervision of the financial derivatives in China. DATA ANALYSIS The qualitative and quantitative methods are both used to analyze the data. Under the qualitative analysis method, the materials such as journals and all information gathered from the internet are related to Chinas financial market and the supervision of financial derivatives, the report of the classic financial organisation will all be gathered as part of the qualitative assistance to the analysis. Some major dialogue by the classic economist in China will also be the main issues for the qualitative analysis; this is due to lack of interviews by government officials and financial managers of most firms. Generally, the secondary materials used will be part of the quantitative analysis, which will certainly show the problem of this research. As far as the quantitative analysis method is concerned, data and information will be gathered from different firms. The most significant data is gathered from the China National Statistics. Other information and data are gathered from various reports from different firms. It is difficult to make a questionnaire with this research because the research problem is comprehensive. The major source of information and data are gathered from the internet and few reports from the government are the main structure for the quantitative analysis. The major limitations are the quantitative method in this research is the lack of an individuals observations and analysis on financial markets and the supervision of the financial derivatives. CHAPTER 4 SUMMARY OF FINDINGS CLASSICAL FINANCIAL DERIVATIVES USED IN CHINA China commissioned a model in financial future exchange in 1990s. Ba Shusong (2006) stated that the core financial derivatives are the foreign exchange futures, stock index futures, warrants, convertible bonds and national debt future. Few of them do not function any more, although model is not so successful, it was importance for a lot of valuable experiences. However, with the growth in China financial market, the financial derivatives perform well and will return to China financial market and a fresh product which correspond to the requirements of the growth of economy; this will be additional expansion and will certainly play a vital role in the Chinas financial market. Foreign Exchange futures; Gregory (1995) stated that inside the foreign exchange market, each price in a market is a relative price, which shows an equal rate. In the late 1980s and from the beginning of 1990s, China was completely accommodating for financial derivatives and control method of suitable opened. From 1984, the local enterprises and companies can trade the offshore foreign exchange futures via the stock broking company. This will assist in requirement for hedging of local banks corporations and swap the foreign exchange role. The first ever foreign exchange swap of China exchange market was commissioned June 1992 in shanghai. The transaction in the foreign exchange futures in local have been displayed and developed from time to time. Later on, the Shenzhen foreign exchange centre was due for approval of foreign exchange futures transactions. (Ma Qingquan 2003). Ma Qingquan (2003) later on accessed the inner and external foreign exchange future and realized that they all have some difficulties which enabled the government of Chinese to take a bold step to resolve and restructure the foreign exchange market. From 1993 to 1995, during this era, the Chinese government has continuously ordered the closure of unlawful foreign exchange futures brokerage firms. All the local foreign exchange in China did not operate extensively due to absence of regulators which lead to failure of the implementation. National debt futures; the national debt future is another method of interest rate futures; it is after the most growth of financial futures in China. The national debt future was originally found December 1992 in china. The shanghai stock exchange commission was the first contact of national debt future. In the year 1993, the transaction scope of the general debt futures had been worn out mainly, the individuals and brokers was given access to the market. The Beijing commodity exchange also welcomes the transaction of national debt futures. However, the national debt future was unripe for development; this followed the 314 contract irregularities storm in Shanghai stock exchange in Sept 1994 and 327 contract irregularities storm in February 1995 also emerge. May 1995, concluded the transaction of national debt future which finally collapse. Convertible Bonds; Convertible bonds are part of growing process of the growth of Chinas Stock market. Basically convertible bonds have a slight resemblance with stock options. (A stock option is also known as executive stock options). Little (2008) refer to a convertible bond is a kind of bond that can be switch into shares, bonds in an issuing firm. Mostly a few pre-announced proportion which is hybrid safety with same debt and equity characteristics. Ba Shusong (2006), the convertible bonds have experienced and discovered in over a decade since its first implementation in China, they have been known with many groups and they continue to progress and grow since the growth of the recent social economy of China. The convertible bonds are financial derivatives which agree with state of the growth of China economy. It will grow more and further along with the growth of the Chinas financial market. Warrant, this is a type of derivative protection that gives the owner the ability to buy security direct from the issuer at a given price within a specific period. Warrant are mostly part in a fresh issue which is refer to sweetener this is just to attract the shareholder. Between 1992 to 1996, China has commissioned a lot of warrants, which include sock warrant La Dai Fei, others are Ba oan 93 and Fuzhou East in Shanghai stock market while others warrant was also commissioned in Shenzhen stock market. This include Gui Liugong, Xia Haifa, Min minding, Xiang Zhongyi. However, because of the uncontrolled speculation of warrants, there are important speculations in the drop prices of warrants. The operations of the warrants were dismissed by the national regulatory body in June 1996. The reason for the dismissal is due to the absence of regulators of the financial derivative. Hence, it is observed that the supervision and regulation on all types of Financial derivative is very important than the operation of the financial derivative. As soon as financial derivatives is in operation there is need for government to present a supervision in order to regulate the operations and function of financial derivatives therefore the financial derivatives will grow with health except if it will be dismissed at the closing stages due to the disorder of the financial market. In conjunction with the reform of the part construct of warrants, the issue of the warrants were present in the outline again. This is due to bearish and bullish choices with the features of the warrants. It has been an efficient way in the movement for safety of the interests of investors and simultaneously, it leads to a rise in flexible payment of the price of the movement of non-investors. According to Xu Peng (2007) since 2007, 27 warrants have been registered in shanghai and Shenzhen stock market. Stock Index Futures; In March 1993, stock index futures surfaced in Chinas Hainan securities and exchange center, which showed as Shenzhen composite index and Shenzhen A share index. This is in line with the global practise, such as creation of deposit system. Unfortunately, stock market was not huge enough; the trading activities stopped functioning in the same 1993 due to speculation inside the market. Ba shusong (2006) further stated that 14years after, (April 2007), After the official commissioning of the Future Exchange Management Regulations, the stock index futures has reverted given that it has been compelled to shut down 14years earlier. This revert will certainly become an important discussion for everyone and local institutions. STANDARD SUPERVISION OF FINANCIAL DERIVATIVES USED IN CHINA The standard supervision of financial derivatives in China can be categorise into 3, namely, the Risk management, this is the major body of the supervision of financial derivatives, the core regulator of the financial market which is a vital way to regulate the financial derivatives and the creation of rules for financial derivatives which is protection for the supervision of the financial derivatives. RISK MANAGEMENT This involves the risk management of the market, the risk management of credit, risk management of liquidity, risk management of operation and legal risk management. Risk management of market; this is referred to as the loss in the rise and fall of interest rates, exchange rate and stock prices. Market risk management shows the status of a bank in a market in order to increase the number of frequency and duration of the market estimation. Lu wendao (2007), refer this technique of market risk appraisal used in China financial market is to compute the potential of changes in the market price, the exposure of risk and to grow contingency policies in order to enable the right of assessment and to accept the changes in the market. Risk management of credit; The risk management of credit failure is to implement derivatives agreements or breach of contract of financial derivatives credit risk which means when the financial institutions such as banks decide to emulate a transaction which is in agreement with certain regulations. It is recommended that bank should focus more on risk diversification rather than avoiding more concentration of transactions. The risk management of liquidity; Xu and Peng (2007), man

Oil Spill Response Essay -- Nature Natural Oil Essays

Oil Spill Response Abstract This paper describes equipment and techniques for responding to oil spills. Various techniques for the containment, cleanup and recovery of oil spills are examined; advantages and disadvantages of each are considered. Along with providing insight for oil spill response, this paper discusses environmental factors which can contribute to the success or failure of a cleanup operation. Introduction: " Oil is the life blood of our modern industrial society. It fuels the machines and lubricates the wheels of the world’s production. But when that vital resource is out of control, it can destroy marine life and devastate the environment and economy of an entire region†¦. The plain facts are that the technology of oil-- its extraction, its transport, its refinery and use-- has outpaced laws to control that technology and prevent oil from polluting the environment†¦" (Max, 1969). Oil in its many forms has become one of the necessities of modern industrial life. Under control, and serving its intended purpose, oil is efficient, versatile, and productive. On the other hand, when oil becomes out of control, it can be one of the most devastating substances in the environment. When spilled in water, it spreads for miles around leaving a black memory behind (Stanley, 1969). Oil spills, no matter large or small, have long been of concern to pollution control authorities in this country. Due to its destructive nature, once an area has been contaminated by oil, the whole character of the environment is changed. When it has encountered something solid to cling to, whether it be a beach, a rock, the feathers of a duck or gull, or a bather’s hair, it does not readily let go (Stanley, 1969). By its nature o... ... Issues Resources Series 5 (61): 18-20. Max, N.E. 1969. Oil pollution and the law. Washington, D.C.: The Bureau of National Affairs, Inc. National Research Council. 1989. Using oil pollution dispersants on the sea. Washington, D.C.: National Academy Press. Nelson, A.N. 1971. Effects of oil on marine plants and animals. London: Institute of Petroleum. Peter Lane. 1995. The use of chemicals in oil spill response. MI: Ann Arbor. Robert, J.M. and Associates. 1989. Oil spill response guide. New Jersey: NOYES DATA Corporation. Stanley, E.D. 1969. Oil pollution: Problems and policies. Washington, D.C.: The Bureau of National Affairs, Inc. Swift, W.H, . C.J. Touhill, W.L. Templeton, and D.P. Roseman. 1969. Oil spillage prevention, control, and restoration—state of the art and research needs. Washington, D.C.: The Bureau of National Affairs, Inc.

ANCIENT GREEK WOMEN :: essays research papers

Ancient Greek Women In ancient Greek society women lived hard lives on account of men's patriarch built communities. Women were treated as property. Until about a girl’s teens she was "owned" by her father or lived with her family. Once the girl got married she was possessed by her husband along with all her belongings. An ancient Greece teenage girl would marry about a 30-year-old man that she probably never met before. Many men perceived women as being not being human but creatures that were created to produce children, please men, and to fulfill their household duties. A bride would not even be considered a member of the family until she produced her first child. In addition to having a child, which is a hard and painful task for a teenage girl in ancient civilization to do, the husband gets to decide if he wants the baby. A baby would be left outside to die if the husband was not satisfied with it; usually this would happen because the child was unhealthy, different looking, or a gi rl. Women had very few rights, they lived as prisoners, serving men 24 hours a day. Women were sheltered from society, restricted to their husbands and their husbands houses, crying out for help and justice but there is no one to there to hear their screams. In the play Antigone when the title character had to sneak out of the house to meet up with Ismene. Ancient Greek men ruled a lot like over protective fathers with teenage daughters. Men were also scared of women gaining confidence and begin thinking on their own or worse taking action or speaking out against men, like in the play Antigone where Antigone confronts Creon by burying Polyneices after Creon strictly stated that no one bury him. If someone were to bury him, the whole Polis would stone them to death. When Creon found out that someone buried Polyneices, he did not even consider that it could have been a women that did it. Why were women treated like animals? Greek society would not function without women, everything a man needs for proper living, food, clothing, wealth, sex, the continuance of human existence were all traits that women inquired. However women are also highly sexual beings that could overpower, hypnotize, and stimulate men's minds and soles. Similarly in modern society where a lot of men have lost families, jobs, money and their lives due to sexual addiction.

A Dose of Fear

Once on a dark, stormy autumn's evening, the grey fog hung so thick and heavy over the country lane that it blocked the view of the landscape. The gloomy, cumulonimbus clouds filled the thick, filthy air that smelt of dirty sewage water, as if there had been flames of fire that had let off a lot of smoke. You could hardly see a thing unless you had perfect vision. In the evening nearby an inconspicuously, deserted mansion that was about fifty metres away from the narrow, odd, tarmac road in the countryside, branches creaked and birds squeaked in their nests. It seemed to him like many days since he had begun to prepare his mind for â€Å"the camp† as he always called it. Seth Winston was a fifteen-year-old adventurous teenager who was so alive, vital and positive about everything. He also had a personality that one could not ignore. He had dark, brown eyes, short black hair and olive skin. His mother had died when he was born so he had never known or missed her. However, his young and handsome father seemed to be the only relation he had in the world apart from Ruth and Peter his caring and loving best friends. Ruth Mathews was sixteen years old, had blue eyes and ginger hair. There was more connection between her and Seth. On the other hand, Peter St John was an eighteen year old; who only had one thing in common with Seth and that was camping. That Saturday afternoon at half past two, Seth, Ruth and Peter set off to go camping in the countryside. This would have been their first camp ever without Seth's father because Peter was old enough to drive and owned a driving licence. â€Å"This is going to be the best camp ever,† said Seth in an excited voice as Peter started to drive. Three hours later nearly two hundred miles away from town, the weather began to change from slightly warm and sunny to heavy rainfall. As darkness drew closer, the rain got worse every minute and the country lane became too slippery to drive the car. â€Å"I think you need to stop at the side of the road until the weather gets better Peter,† said Ruth in a tentative voice. â€Å"Don't be silly, we've only got a few more miles to go until we reach the camping site,† said Peter in a voice that was struggling to hide the fear inside him. â€Å"Guys I think I see something,† Seth said loudly wishing it was a place to escape the unexpected heavy rain. â€Å"What is it?† Ruth and Peter both spoke at the same time desperate to find out what it was. â€Å"It looks like a house. A mansion.† Seth answered in an uncertain tone. â€Å"Let's go and check it out,† Ruth suggested positively as if she knew exactly what it was. Peter made a left turn and slowly drove down in the open space towards the secluded, big mansion. When they reached the faded, rusty gate, they stepped out of the car and put their coats on. It was open so it made it easier for them to get to the mansion. In approaching the mansion, there was a chill in the air as they hurriedly walked to the door. Ruth knocked on one of the huge oak doors although they were slightly open. She knocked five times and waited but there was no response. â€Å"Hello, is anybody here?† Ruth shouted as she echoed repeatedly and as water dripped from her round face. â€Å"Did you hear that? Someone just repeated what Ruth just said,† Seth said sarcastically. â€Å"Are you stupid? That was her echo, you fool,† Peter said in a rather unimpressed high pitch voice. Helplessly desperate for shelter, they decided to step inside. The view captured their eyes. Joined cobwebs smeared the walls and an unidentified smell of rot filled their nostrils. The dusty, mouldy ceilings dripped with water. Peter seemed to be more fascinated by the unusual scene than the other two, so without them noticing, he decided to take a tour around. The door creaked behind Peter as he escaped into the next room. With their heads held up high, Seth and Ruth looked to see where the sudden noise had come from. Just as they turned round, they were horrified by a dead bat, which had fallen two metres above their heads from the spider web that hung under the ceiling. They heard a loud scream coming from the next room on their left that sounded as if someone was being tortured. They fled into that treacherous room as fast as they could. On its walls were skulls portrayed in a devilish appearance splashed with rotten blood. When they looked down, they saw a half naked body viciously assaulted dripping with blood on the black tiled floor. The floor was littered with bones and headless skeletons that were gathered through the courts of time. Satanic crosses were marked all over the ceiling and the atmosphere was heinous. Seth and Ruth could not believe the monstrous view in front of their eyes. Horrendous injuries covered the body and the eyes had popped right out of the skull. They were wide open, stony with the glassiness of death. Only one nostril was left of the nose and was dripping with mucus and blood. The lips were deformed. With a grimace of his face, Seth wondered what kind of a vicious, menacing sinister who would do such a terrible act. The slimy small and large intestines were noticeable and cut open that they dared not to look at the brutal stomach, which looked as if it had had an abdominal surgery. â€Å"I'm so sorry Peter,† said Ruth in a petrified voice trying her hardest not to burst out in tears. â€Å"Who could do such damage to an innocent soul?† Seth questioned silently as tear drops fell from his eyes. Seth noticed a sombre shadow with an axe in its hand on the wall at his right hand side. At first, he did not say anything because he was not sure where it was coming from. â€Å"Ruth look out!† shouted Seth. â€Å"Where?† Ruth shouted back. â€Å"Behind you!† Seth answered in a despairing voice. Ruth looked behind her, widened her blue eyes in terrified horror while her jaw nearly dropped on the ground and screamed, â€Å"No!† At this moment, Seth had nothing else to say or do but save himself. He ran out of the room as fast as he could and raced to the other side of the mansion as if chased by hideous demons. This end had autumn leaves on the floor that two open triangular windows had let in. He fled into the nearest room that he believed was safe as he had the intension to hide. Although it was not as bad as the previous one, this room was damp and infested but with a gnaw feeling, Seth did not take any notice. There was a rustling noise; it grew louder and more persistent. When it started, Seth had thought that leaves were blowing in the sweeping wind but now it was far too loud for that. It sounded like someone stomping through crisp packets. The rustling turned to crunching, as if some huge animal was munching on a giant creamcraker. Seth shivered. He pulled his coat tightly around him because he was cold. He clenched his fists in his pockets. He stared at the floor in front of him and occasionally glanced nervously at the door handle. â€Å"You must keep calm,† Seth repeatedly said to his self as he breathed heavily as if he was starving from oxygen. Seth desperately looked at the impenetrable window wishing he were small enough to fit through so he could escape the haunting poltergeist. In the darkness of the fading light, the poltergeist's face had the pallor and sheen not so much of flesh so much of bone itself. Seth stared at it until his eyes ached in their sockets in surprise and bewilderment at its presence. With the combination of the peculiar, isolated room, the appearance of the poltergeist and the dreadfulness of its expression began to fill Seth with anxiety. Indeed Seth, never in his life was so threatened by anything like that. He had never known his heart to give such a great lurch, as if it would almost leap out into his shivering, dry mouth and then begin pounding in his chest like a hammer hitting an anvil. Seth never thought that a dose of fear would make his knees tremble and his flesh creep. He never imagined himself daunted and held fast by such dread, horror and apprehension of evil. His worst nightmares had resurrected.

Online Communication Essay

The rise of the Internet era opened the whole new market for traditional media full of opportunities as well as threats. Online piracy being one of them because the music and film industry loses  £5.4bn in a year and if it was reduced by 10% it could have created up to 13 thousand jobs in the UK. There are various attempts taken to fight with online piracy; a case study of Anti-Counterfeiting Trade Agreement will be considered as well as other legislations attempting to regulate copyrights in the Internet. This essay is also going to look at main motives and reasons for online piracy and suggest the solutions. Main obstacles in dealing with piracy are legislative issues, semiotic disputes, little awareness or different attitudes of the Internet users. For the old media to fully overcome the threat of online piracy is as likely as completely eradicating crime. Hoverer, there are means to limit the copyright infringement in the Internet. Suggested methods are improving the legislatio n, changing public’s mind-sets and making legal ways widely and easily accessible. Firstly it is crucial to define the terms as especially in case of online piracy they are often misunderstood and are the or controversial. The definition of online piracy varies depending on the source, but the majority agrees that it refers to: â€Å"copyright violation, infringement, unauthorised copying, storage, reproduction, distribution, or sale of intellectual property—for example, music CDs, movie videocassettes. With regard to film and television, the term primarily relates to downloading, uploading, linking to, or otherwise providing access to unauthorized copies of movies, television shows or other copyrighted content on the Internet and making and/or selling unauthorized copies of DVDs and Blue Ray discs. Some sources refer to piracy as theft and according to the American legislation – 1992 federal law makes software piracy a felony. Some sources distinguish different types of piracy and Krasilovsky and Shemel (2007) define them as follows: â€Å"Bootlegging – the unauthorised recording of a live or broadcast performance. Counterfeiting – the duplication or imitation of the packaging, document, product, and label as well as the sound recording that is made with the intent to deceptively represent the item as the genuine article.† The last form of piracy researched is file sharing, although the list might not be exhaustive. File sharing also known as P2P is a term that typically refers to a networking technology that normally uses a decentralized communication model. â€Å"What is meant by this is that there isn’t any central server involved and all computers in the network act as both server and client. An example of a pure decentralized P2P network is the BitTorrent protocol where files are shared between all peers independent of any central server. The type of files that are shared can be audio, video, data etc. The big advantage of a decentralized P2P network is fault tolerance – if one peer disconnects from the network there are other computers that will have the same data available to share†. As listed above there are numerous illegal ways to avoid paying for the media content and the issues are so complex that the definitions although portray their common-sense understanding fail to serve their legal purpose Firstly it is difficult to stop piracy due to differences within legislations and legal definitions across the world. â€Å"Attempts to tackle piracy through international law are being hampered by the lack of a consistent definition.† States The Guardian in their article on piracy Since one of the reasons for a huge popularity of piracy is the easy access to free content and many people arguably download content just because they can the solution here would be in an absolute zero tolerance policy to wards piracy as SOPA, Stop Online Piracy Act suggests and closure of websites such as the Pirate bay, etc. Such policy seems to be working with plagiarism at e.g. Universities, but in term of intellectual property the intangible aspect of the product makes it more difficult to control. Therefore stopping online piracy is easier said than done, as it would require enormous human resources from a government to track down illegal websites and taking a legal action against them leading to the closure. One case study worth following regarding this issue was on the major streaming website TV SHACK.net has been seized many times by the US government and it kept changing the domain addresses to overseas addresses as .co or .bz. The owner, 23 year old student Richard O’Dwyer from Sheffield has been charged with copyright infringement and the US Justice Department has been seeking to extradite him from the UK since May 2011 – BBC reports. Streaming itself is a grey area in many countries, i.e. Germany, where it is not perceived as downloading but has been sourced using illegal means. Compared with the legal issues and the fact that the content was stored on foreign servers the law enforcement was extremely difficult, but now it has been set an example worldwide of tackling with piracy. On entering the internet address now a video clip displays which in a humoristic educated people on what piracy is and how much a â€Å"free† movie really cost. Such attempt is one of the suggested ways in dealing with piracy through legal ways such is previously mentioned ACTA, which may make the process even simpler basing on the procedures it includes. ACTA means Anti-counterfeiting Trade Agreement crafted by Japan and United States and signed by Canada, Australia, New Zealand, Singapore and South Korea in October 2011. In January 2012 European Commission enter negotiations whether to sign the treaty, together with non-elected representatives from 22 Member States: Austria, Belgium, Bulgaria, Czech republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvi a, Lithuania, Slovenia, Luxemburg, Malta, Poland, Portugal, Rumania, Spain, Sweden and United Kingdom. The European Commission says that ACTA is an international trade agreement aimed at ensuring the EU’s already high standard of protection for intellectual property rights can be enforced globally. ACTA proved to be very controversial especially while in early 2012 it was meant to be signed by i.e. Poland. On announcement that the government is going to sign ACTA on the 26th January major protests and hacker attack on governmental websites emerged. The antagonists say that it is going to be the end of free internet and the freedom of speech is going to be limited there. The Act allows for the websites suspected of infringement to be taken down without a legal procedure and notification to the owner. The protagonists say that it is the only way for the music and film industry to stand a chance in the fight for copyright, as the other methods fail. Another reason is that the semiotic problem confuses the public and one part of them does not know that downloading pirated content is illegal, some of they do feel it’s not right but since there is no consequences millions get away with it and hence 95% of music downloaded is pirated Lack of understanding of the core issues often pushes people to piracy for example streaming is a grey area in some countries because although you are watching an illegal content you don’t download it or own it. That brings the subject back on semiotics and defining the legal issues regarding piracy, such as making a copy for individual, home-use. Previously a grey area has been made legal through the process of legal debates. Collberg (2010) in â€Å"Surreptitious Software† says â€Å"There is an important lesson here: If you are going to us a copy protection scheme at all, you must not make it so inconvenient to users that they feel they have a right to break it† For this reason, on a basis on â€Å"the 1992 Audio Home Recording Act it is legal to convert CD tracks to mp3 files as long as you are the legitimate owner of the CD you want to copy† and â€Å"only when you use these copies for your personal use† There is al â€Å"Is it illegal to download a file from an Internet site if you have a legal right to create that file on your own through other means? The courts have not yet had an opportunity to rule on this issue.† People commit a crime sometimes out of lack of knowledge and understanding of legislation, for example c There are many misunderstandings within this subject of what is legal and what constitutes an illegal action. -they are not the ones who stole it and they haven’t paid for it so it doesn’t feel like stealing -downloading just to test the product you are going to buy anyway is not wrong. Solution: make people aware that what they do is wrong. make legal ways CLEAR 1. TOO EXPENSIVE TO BUY Additionally the widely mentioned all across the internet reason for illegal downloading of music, movies and TV shows is that the records and movies are to expensive. The reason a fallacy in itself, because it basically says that if you cannot afford to buy a product you should get it in a different, usually illegal way. A suggested solution to this aspect would be to make legal ways affordable and easy like lovefilm streaming or Netfix Music industry attempts to tackle with the issue like the case study from 2008 when Radiohead and Nine-Inch-Nails launched their albums straight to internet and enabled the purchase by donation. Conclusion There is a controversial opinion that piracy could be used as a promotion tool for the music and film industry by the companies allowing people to download their products on internet â€Å"to try† Current online piracy activity requires a separate department of every company just to search for websites where their copyrighted contend is being illegally distributed. All in all people who support piracy will always attempt to go around the rules and legislations to get a free and unlimited content to media because (a) they can (b) get satisfaction from fooling the system Bibliography: Books: 1. Baskerville D., (2010) Music Business handbook, 8th Edition, Sage, London 2. Collberg C., Nagra J.,(2010) Surreptitious Software, Addison-Wesley, New York 3. Dovey J, Kennedy H., (2006) Game Cultures, Open University Press, Glasgow 4. Gunasekaran A. (2008), Techniques and Tools for the Design and Implementation of Enterprise Information Systems, IGI Publishing, New York 5. Krasilovsky M. , Shemel S., (2007) This business of music, The definitive guide to the Business and Legal issues of the Music Industry, 10th Ediion, Watson-Guptill Publications, New York 6. Lehnert W., (2003) Web 101, Making the ‘Net Work for you, 2nd Edition, Addison Wesley, New York. 7. Tavani H., (2007) Ethics & Technology, Ethical Issues in Age of Information and Communication Technology, 2nd Edition, John Wiley & Sons, Inc., USA 8. Turban E., (2008) Information Technology for management, 6th Edition, John Wiley & Sons, Inc., USA Journals: * Short, Greg. 1994.†Combatting Software Piracy: Can Felony Penalties for Copyright Infringement Curtail the Copying of Computer Software?† Santa Clara Computer and High Technology Law Journal 10 (June) Websites: * http://www.go-gulf.com/blog/online-piracy [20.02.2012] * http://www.riaa.com/physicalpiracy.php?content_selector=piracy_details_online [20.02.2012] * http://gizmodo.com/5133065/95-of-music-downloads-are-pirated [20.02.2012] * http://www.cato-at-liberty.org/how-copyright-industries-con-congress/ [20.02.2012] * http://www.internetevolution.com/author.asp?section_id=568&doc_id=146002 [20.02.2012] * http://wololo.net/wagic/2012/01/21/the-megaupload-shutdown-wont-stop-piracy/ [20.02.2012] * http://arstechnica.com/tech-policy/news/2012/01/why-the-feds-smashed-megaupload.ars [20.02.2012] * http://www.bbc.co.uk/news/world-us-canada-16657800 [20.02.2012] * http://www.bbc.co.uk/news/technology-16642369 [20.02.2012] * http://legal-dictionary.thefreedictionary.com/piracy [20.02.2012] * http://www.mpaa.org/contentprotection/faq [20.02.2012] * http://www.guardian.co.uk/world/2008/nov/20/piracy-law-international-definition-commons [20.02.2012] * http://law.yourdictionary.com/infringement [20.02.2012] * http://mp3.about.com/od/glossary/g/P2P_def.htm [20.02.2012] * http://ec.europa.eu/trade/creating-opportunities/trade-topics/intellectual-property/anti-counterfeiting/ [20.02.2012] * http://www.stopacta.info/ [20.02.2012] * http://internationalauthenticationassociation.org/content/glossary.php [20.02.2012] * http://portal.bsa.org/globalpiracy2010/ [20.02.2012] * http://www.channelweb.co.uk/crn-uk/news/1881561/software-piracy-costs-uk-economy-gbp54bn [20.02.2012] * http://www.bbc.co.uk/news/uk-england-south-yorkshire-16544335 [20.02.2012] Appendix 1 – Online Piracy Statistics (http://www.go-gulf.com/blog/online-piracy 20.02.2012) Below are some facts- * 70% of Online Users Find Nothing Wrong in Online Piracy * 67% of Digital piracy sites are hosted in North America and Western Europe * 22% of all global Internet bandwidth is used for Online Piracy * 98.8% of Data transferred using P2P networks is copyrighted * 91.5% of filed available for download on Cyberlockers sites (Rapidshare, Megaupload,etc) are copyrighted material * Only 1 out of 10,000 pcs of the most popular content on the OpenBitTorrent tracker is non-copyrighted * Websites hosting pirated content receive more than 146 Million visitors per day. * $12.5 billion in economic losses each year due to Piracy in the music industry * 71,060 jobs lost in the United States every year due to Online Piracy * $2.7 billion in workers’ earnings are lost each year due to Online Piracy * 95% of music downloaded online is illegal * An average iPod contains pirated music of $800 * 42% of Softwares running in World are illegally downloaded * $59 billion of Softwares were illegally downloaded in 2010 * More than 75% of computers have at least 1 downloaded illegal application * Two-Thirds of Torrents available online are illegal * Pornography is the most pirated item on web with 35.8% followed by Movies with 35.2% * Hollywood Movie â€Å"Avatar† is the most pirated movie of 2010 and was downloaded more than 17,000,000 times * China has the Highest online piracy rate of 91% in world followed by Columbia with 90% and Russia with 80% online piracy rate. Appendix 2 – Case Study (http://uk.reuters.com/article/2011/10/01/uk-japan-trade-counterfeiting-idUKTRE79018620111001) Anti-counterfeiting agreement signed in Tokyo TOKYO (Reuters) – Governments of eight nations including Japan and the United Stated signed an agreement on Saturday aiming to cut costly copyright and trademark theft. The signing is a step towards bringing into effect the Anti-Counterfeiting Trade Agreement (ACTA), which is designed to strengthen the legal framework for intellectual property rights, said Japan’s Ministry of Economy, Trade and Industry (METI). â€Å"As with many of the challenges we face in today’s global economy, no government can single-handedly eliminate the problem of global counterfeiting and piracy,† Deputy U.S. Trade Representative Miriam Sapiro said at the ceremony, according to a copy of her remarks released in Washington. â€Å"Signing this agreement is therefore an act of shared leadership and determination in the international fight against intellectual property (IP) theft,† Sapiro said. Mark Elliot, executive vice president of the U.S. Chamber of Commerce’s Global Intellectual Property Centre, called the pact â€Å"a big victory for the American business community, workers, and IP-intensive sectors across our economy.† â€Å"This accord raises the bar on enforcement by improving cooperation among partners, harmonizing how we confront IP theft, addressing IP theft online, and setting a positive example for nations that aspire to have strong IP enforcement regimes,† Elliott said. The signing took place a year after the final round of negotiations among 11 parties — Australia, Canada, the European Union, Japan, the Republic of Korea, Mexico, Morocco, New Zealand, Singapore, Switzerland and the United States. The EU, Mexico and Swit zerland have not signed the agreement but have until May 1, 2013, to do so, according to the METI. The pact takes effect with the ratification of six parties and the METI expects an expansion of ACTA participants. (Reporting by Kaori Kaneko in Tokyo and Doug Palmer in Washginton; Editing by Robert Birsel and Vicki Allen) ——————————————– [ 1 ]. http://www.channelweb.co.uk/crn-uk/news/1881561/software-piracy-costs-uk-economy-gbp54bn [20.02.2012] [ 2 ]. http://portal.bsa.org/globalpiracy2010/ [20.02.2012] [ 3 ]. Violation of copyright, trademark or patent. http://law.yourdictionary.com/infringement [20.02.2012] [ 4 ]. http://legal-dictionary.thefreedictionary.com/piracy [20.02.2012] [ 5 ]. http://www.mpaa.org/contentprotection/faq [20.02.2012] [ 6 ]. Dovey J, Kennedy H., (2006) Game Cultures, Open University Press, Glasgow [ 7 ]. http://legal-dictionary.thefreedictionary.com/piracy [20.022012] [ 8 ]. http://internationalauthenticationassociation.org/content/glossary.php [20.02.2012] [ 9 ]. Krasilovsky M. , Shemel S., (2007) This business of