Pakistan: Recent Economic Developments and Future Prospects

Most of the news emanating about Pakistan in the Western media relate to terrorism, bomb blasts, Islamic fundamentalism, nuclear non proliferation, military rule etc. Seldom does one see a positive story appearing about Pakistan’s remarkable economic turnaround. But the fact of the matter is that despite such negative image Pakistan is one of the favored destinations for foreign direct investment. Foreign direct investment flows have surged by 95 percent during July – February 2007 and are expected to touch $ 5 billion or 3. percent of GDP – several times higher than FDI flows to our large neighbor in relative terms.Pakistan’s international bond issues and equity floatations through GDRs have been consistently oversubscribed and are priced at fine margins. Standard Chartered Bank has made acquisition of a domestic private bank for around half a billion dollars. China Mobile – the largest mobile company in terms of subscriber base – has bought out majority shareholding in one of the local cellular phone companies for over $ 400 millions.Philip and Morris has entered into an agreement to purchase 50. 2 percent shares of the second largest Cigarettes Manufacturing Company of Pakistan for US 339 million. A number of other similar mergers and acquisitions are in the pipeline. 2. What is that inspite of such adverse publicity, perceived security risk and travel advisories the global investors, fund managers and international financial institutions from the United States, Europe, East Asia and Middle East all look upon Pakistan favorably and show such tremendous amount of confidence in the economy.Sophisticated investors from all over the world are willing to purchase billion of dollars of sovereign paper issued by Pakistan for 30 year duration. There must be something right the country ought to be doing which fails to reach the radar screen of the popular and highly influential western media. 3. As an international developmen t economist I can venture a number of reasons for this apparently highly paradoxical situation. First of all, Pakistan is a country of 160 million people which is growing at an average growth rate of 6-7 percent for the last five years.Thirty million Pakistanis earning $ 10,000 – $ 15,000 (PPP terms) constitute a large and solid market for purchase of goods and services of all kinds. There are very few markets except China, India and Indonesia that are underpinned by the size and scale that the fast growing Pakistani middle class offers. Projections show that if the current growth A paper presented at the IPRI-RUSI Conference on â€Å"Pakistan: Strategic Challenges & Prospects† At Royal United Service Institute London on April, 17 2007 ates are attained for the next ten years, Pakistan’s per capita income will double in real terms by 2020. At that time the size of the middle class will rise to 50 million enjoying purchasing power incomes of average $ 30,000 â₠¬â€œ equivalent to those of some of the European countries today. Goldman Sachs has placed Pakistan in the next eleven category of largest economies among developing countries for its long term projection. The requirements of energy, infrastructure, goods and services of these 50 million will have to be met at world class standards.Multinational firms and holders of capital with excess liquidity, eyeing these prospects in emerging countries and feeling saturation in advanced economies, are rethinking their strategies and repositioning themselves. Pakistan along with other Asian countries is one of the beneficiaries of this strategy. The changing demographics of a youthful population and labor force in Pakistan staring against the stark reality of ageing population in Europe, Japan, and US and after a while China reinforce these promising prospects for the future.Of course, none of this will be either automatic or easy and good policies, good governance and good luck will be needed t o realize this scenario. 4. Second, the economic performance in terms of macroeconomic stability, growth, poverty reduction and employment generation has been stellar. Economic growth rates have risen from 1. 8 percent in 2000/01 gradually to average 6 -7 percent a year in the last four years making Pakistan one of the fastest growing economy in the Asia region. For Pakistan these rates are not spectacular but a reversion to mean.The average growth rate of GDP ver 50 year period of Pakistan has been 5. 2 percent per annum. Manufacturing sector output growth was over 15 percent, exports have doubled in US dollar terms in these five years, and an open trade regime has allowed imports from all over the world to triple. Tax revenues have risen by 14 percent a year reducing fiscal deficit which used to average 7 percent a year in the 1990s to average 4 percent. Current account turned around from chronic deficit to a surplus for three successive years mainly due to renewed export growth a nd resurgence of workers’ remittances.Although it has become negative since 2005/06 due to phenomenonal growth in imports of machinery and equipment and increase in world oil prices it is being fully financed by foreign capital flows. Inflation rate during the first four years of the current government remained below 4 percent but oil price pass through and food shortages have led to 8 percent on average since 2004-05. External debt burden has been halved from 52% to 26% of GDP and is projected to be on a declining path.The country’s capacity to service its debt has considerably improved as debt servicing ratio which used to preempt almost 60 percent of public revenues is now down to 28 percent. Poverty incidence has fallen from 34 percent to 24 percent and unemployment rate is down to 6. 5 percent from 8. 4 percent. These movements are in the right direction but they are not acceptable as one in every fourth Pakistani is still living below the poverty line. Table-I su mmarizes the changes in the key economic indicators between October 1999 and June 2006. 5.Third, the basic premise of policy reform agenda was that macroeconomic stability will remain short lived if it was not accompanied by structural reforms to remove microeconomic distortions and by bringing about improvement in economic governance. Pakistan has successfully implemented the first generation of structural reforms that have made the economy more efficient and resilient to face unanticipated exogenous shocks. The main thrust of these reforms was to allow greater freedom to the private sector to own, produce, distribute and trade goods and services while gradually withdrawing the public sector from this arena.The promotion of public private partnership in large infrastructure projects as a policy initiative is likely to overcome some of the problems that are inherent in private infrastructure projects at the same time easing the financing constraints faced by the public sector. The r ole of the state in Pakistan has been redefined as a facilitator, enabler, protecter and regulator rather than directly managing and presiding over the commanding heights of the economy. Government intervention is justified for social protection of the poor, provision of public goods or when there is a clear case of market failure i. externalities, imperfect market structure etc.6. Fourth, Pakistan occupies a key strategic location that links India with Iran, Afghanistan and the Central Asian States, provides access to sea for land locked countries of Central Asia, Afghanistan and Western China, acts as the energy and transit corridor and opens up to the oil rich Gulf States next door. This strategic location alongwith the completed and new investments in ports, highways, pipelines, etc. will throw up vast new opportunities that can be highly attractive.Risk-return relationship in these projects is highly favorable and a number of foreign firms are keen to take the first mover advan tage by locating their investment particularly in Gawadar port area. 7. Leaving aside the current situation that I have described I would like to address two important questions this afternoon that agitate the minds of all potential investors and businessmen – domestic or foreign in respect to Pakistan. First whether the stability and growth that have so far been achieved will prove to be transitory in nature or will be sustained over time.Second, a question that has attracted a lot of attention is whether the September 11,2001 events have much to do with the economic turn around of Pakistan or whether the changes are more fundamental. To examine these two questions we have to look at the strength of economic policies, depth of structural reforms and the quality of economic governance. Before addressing these two questions let me make two broader points to set the context for our subsequent discussion. SUSTAINABILITY OF GROWTH .It should be reiterated that widespread economic reforms in Pakistan were initiated in 1991 by the Nawaz Sharif Government, continued under the Benazir Bhutto Government and further intensified and implemented under the Musharraf Government. Thus there should be no doubt in any body’s mind that the major direction of economic policies being pursued in Pakistan presently enjoys wide political consensus and support among all the leading political parties of Pakistan.The underlying philosophy that the Government should not be in the business of running businesses but regulating the markets and laying down the enabling policy framework has been demonstrably practised by all the successive governments in the past. Deregulation, liberalization, privatization and private sector – led development have been consistently followed for the last 16 years, and there is very little doubt in my mind, that these will remain the pillars of future economic policy in Pakistan irrespective of which political party assumes power.Of cours e, there will be differences in approaches, tactics and nuances, episodes of point scoring, distancing from the specific transactions of the previous governments, coming up with new modalities but the substance and thrust of economic policies will remain the same and transcend partisan politics. 9. The second important point that should be kept in mind is that Pakistan has a long, uninterrupted history of an open, non-discriminatory and liberal foreign investment regime. The Government of Mr. Z. A.Bhutto in early 1970s nationalized domestic manufacturing industry, banks and insurance companies but did not touch foreign investment. Not only that the risks of expropriation and transfer are almost zero the level playing field that is afforded to foreign investors is unparalleled in developing world. This is a deliberate policy measure as Pakistan is squeezed between two economic giants – China and India – and we cannot afford to keep the same bar on the entry of foreign i nvestors as our great neighbors have placed.We have to be much more accommodating and keep the door wide open to allow foreign investors to help our economy by bringing in capital, managerial skills, transfer of technology and integration into global markets. This policy of liberal foreign investment regime is solidly grounded in the political ethos and economic imperatives of Pakistan. 10. Now let me take up as to how a combination of strong economic policies, structural reforms economic governance and good luck has changed the economic landscape of Pakistan in many fundamental ways. Strength of economic policies 11.The bane of Pakistan’s economic problems stemmed from fiscal indiscipline over a decade that plunged Pakistan into a debt trap. This root cause had therefore to be surgically removed so that the likelihood of its further recurrence in the future is minimized A Fiscal Responsibility Law has been approved by the Parliament, which keeps a lid on the future governmen ts’ propensity to borrow their way out. Debt / GDP ratio has to be reduced by 2. 5 percentage points each year and the Debt/ GDP ratio cannot exceed 60 percent. Any deviation has to be explained to the Parliament and need its approval.This law will hopefully act as a major restraint on fiscal recklessness in the future. 12. Monetary policy is now operated by an independent central bank keeping the objective of price stability, financial stability and growth in mind. Although it involves a fine balancing act and inflationary pressures have surfaced during the last two years the Central Bank is committed to pursue a monetary policy that keeps inflation under control. Indirect market- based policy instruments have replaced credit ceilings, caps on deposit and lending rates, preferential treatment to government and directed credit to priority sectors.Interest rates and exchange rates are market determined and credit allocation decisions are made by the individual banks based on o bjective criteria but guided by prudential regulations. 13. External debt management policy was focused on (a) reprofiling of the stock of official bilateral debt, (b) substituting concessional loans for non-concessional from international financial institutions, (c) pre-paying expensive loans and (d) liquidating short term liabilities.Debt ratio has thus been reduced from 100 percent of GDP to 56 percent in five years time. This restructuring of debt has put Pakistan on a firm footing as the debt and debt servicing ratios are on a declining path. This has provided scope and enlarged the capacity of the country to meet all its future foreign exchange liabilities and obligations without much difficulty. Credit worthiness indicators have all improved and Pakistan is no longer that vulnerable to external shocks as it was in 1998 at the time of the nuclear tests. 14.Trade policy in Pakistan has been categorized by the World Bank as one of the least restrictive in South Asia along with S ri Lanka and this policy has gradually provided incentives to exporters to increase their market share in the global markets. Exchange rate policy is pursued to maintain stability in the foreign exchange markets while at the same time keeping the competitiveness of Pakistani exports intact. Large accumulation of foreign reserves played an important role in stabilizing the exchange rate and cushioning the economy from the adverse and abrupt exogenous disturbances.One of the tests that the country successfully met in the last two years was to absorb the oil price hike from $ 25/ barrel to $ 75/ barrel without any serious dislocation of economic activity or any loss of foreign reserves. Five years ago if this escalation had happened the exchange rate would have tumbled and inflation rate would have hit double digits. 15. Pakistan has also made significant efforts in unilaterally liberalizing its trade regime since the 1990s. The maximum tariff rate has declined from 225 percent in 1990 -1 to 25 percent; the average tariff rate stands at just 9 percent compared to 65 percent a decade ago.The number of duty slabs has also been reduced to four. Quantitative import restrictions have been eliminated except those relating to security, health, public morals, religious and cultural concerns. The statutory orders that exempted certain industries from import duties or provided selective concessions to privileged individual firms have been phased out and import duties on 4,000 items were reduced. Protection to domestic industry is no longer a policy objective and a uniform, across – the board, transparent regulatory regime with level playing field has been put in place.These measures have brought down effective rate of protection, eliminated the anti-export bias and promoted competitive and efficient industries. A number of laws have also been promulgated to bring the trade regime in conformity with World Trade Organization regulations. These include anti-dumping and countervailing measures and protection of intellectual property rights. This unilateral opening up to global trade has benefited the domestic firms in improving their efficiency and making themselves competitive.STRUCTURAL REFORMS 16. It was realized by the policy makers that stability will remain elusive and short lived if it was not accompanied by structural reforms to remove micro economic distortions and by bringing about improvement in economic governance. Concurrently with the debt restructuring, the country embarked on the fiscal policy reforms and consolidation by raising tax revenues, reducing expenditures, cutting down subsidies of all kinds and containing the losses of public enterprises.Tax reforms were undertaken to widen tax base, remove direct contact between tax payers and tax collectors, introduce value-added tax as the major source of revenue, simplify tax administration and strengthen the capacity of the Central Board of Revenue. Although these reforms are still u nderway, the adoption of universal self assessment followed by random audit of selected tax returns, automation and reorganization of the tax machinery have begun to help improve tax collection.Tax-GDP ratio in Pakistan is lower in comparison to other developing countries and has to be raised in the next five years to reach the average level of comparator countries. 17. As one of the sources of fiscal problems was the losses and inefficiencies of public enterprises the Musharraf Government actively pursued an aggressive privatization plan whose thrust was sale of assets in the oil and gas industry as well as in the banking, telecommunications and energy sectors, to strategic investors, with foreign investors encouraged to participate in the privatization process.Pakistan’s record on privatization since 1991 has been impressive but the transactions completed in the last few years have yielded $ 3 billion stopping the hemorrhaging of public finances that were used to underwrite the losses of these enterprises. These privatized banks are now contributing substantial sums to the national exchequer as they have all become profitable. 18. As Pakistan would continue to rely on foreign capital flows for augmenting its domestic savings it had to demonstrate its seriousness in encouraging foreign investment.There has been a major and perceptible liberalization of the foreign exchange regime. Foreign investors can set up their business in Pakistan in any sector of the economy – agriculture, manufacturing real estate, retail trade, services, banking etc. , bring in and take back their capital, remit profits, dividends, royalties and fees etc. , without any prior approvals. Foreign companies are allowed to raise funds from domestic banks and capital markets.They are treated equally with national firms in all respects and can bring in expatriate staff to run their businesses. 19. Foreign Portfolio Investors (FPI) can also enter and exit the market freely witho ut any restrictions or prior approvals. In the Karachi Stock Exchange with a market capitalization of US$50 billion and over 650 listed companies corporate earnings were on average in 20-25 percent range much higher than those in most emerging countries. This makes Pakistan an attractive place to invest for foreign portfolio investors too.As part of this liberalization, non-residents and residents are allowed to maintain and operate foreign currency deposit accounts, and a market-based exchange rate in the inter-bank market is at work. 20. Financial sector reforms in Pakistan were also initiated early in the 1990s when new banking licenses were granted to private domestic banks to set up their shops along with the nationalized commercial banks and foreign banks. Although these reforms were implemented with fits and start, they were accelerated since 1997.The Central Bank was granted autonomy and the control of the Ministry of Finance over banking institutions was diluted. More deep rooted reforms were undertaken since 1999 when net non-performing loans of the banking system were brought down to less than 3 percent of total advances and loans, minimum capital requirements were raised to $100 million, the quality of new loans was improved, mergers and consolidation of financial institutions eliminated a number of weaker players and the range of products and services offered by the banks was widened.But the most crucial policy action taken by the Government, in my view, was the privatization of Habib Bank, United Bank, and Allied Bank – three large nationalized commercial banks of the country. As a result of these reforms, the share of the private sector ownership of the banking assets has risen to 80 percent and the banking sector is facing a healthy but strong competitive environment. The banks are highly profitable and the average lending rates have declined considerably as automation, on-line banking and multiple channels of delivery have improved the efficiency of services in response to market competition.1. Agriculture credit, SME financing, consumer loans and microcredit have become mainstream products of the banking industry and the borrower base of the banking system has multiplied from 1 million to 4 million households. The middle and lower middle class which had been completely shut off from access to banking services are now enjoying car loans, mortgages, credit cards, consumer durables. Small farmers are using bank credit for buying chemical fertilizers, certified seeds, insecticides, small implements and hiring tractor services.Small and medium entrepreneurs are expanding their fabrication and manufacturing capacities and upgrading technology. Landless labor and poor women in the rural areas are receiving loans for poultry, small livestock, sewing machines, etc. The main beneficiaries of these reforms are the customers of financial services although it must be recognized that market determined deposit rates have also d eclined significantly. But as the lending rates are surging upwards, deposit rates are also going to depict an upward movement with time lag.The outreach of banking sector is still very sparse outside the urban areas and has to be extended to cover at least 50 percent of rural households if any meaningful results are to be achieved in poverty reduction and urban – rural income inequalities. 22. Deregulation of oil and gas, telecommunication and civil aviation sectors have also brought about significant positive results. Oil and gas exploration activity has stepped up in recent years and constant discovery and production from new gas fields operated by private sector companies have added new capacity to meet the growing energy needs of the country.Independent power producers – both domestic and foreign private companies – have played a critical role in filling in electricity generation requirements of Pakistan since 1996. Telecommunication has witnessed a boom si nce the private sector companies were allowed licenses to operate cellular phones. One million new cellular phone connections are being added every month and the number of phones has already reached about 50 million or a penetration rate of almost 33 percent.Long distance international and local loop monopoly of Pakistan Telecommunications Corporation has been broken and new licenses including for wireless local loop have been issued. The customers are reaping rich dividends as the prices of phone calls – local, long distance, international – are currently only a fraction of the previous rates. One of the advantages of privatization of the state monopoly, i. e. , the PTCL would be felt in form of higher bandwidth penetration that has lagged behind other Asian countries. Economic Governance 23.The most significant shift introduced by the military government is in promoting good economic governance although we have still a long way to go. The reforms in some of the most important federal institutions – the Central Board of Revenue (CBR), Securities and Exchange Commission (SECP), the State Bank of Pakistan (SBP) and Pakistan Railways – initiated some years ago – are already beginning to take some hold and making a difference as far as governance is concerned. Discretionary powers have been significantly curtailed but corruption at lower echelons of the Government is still widely rampant.Freedom of press and access to information has had a salutary effect on the behaviour of decision makers but this has not trickled down to the lower bureaucracy yet where implementation of the policies takes place. The post 2003 period has witnessed some decline in the Transparency International ratings of Pakistan compared to the 1999-2002 period. 24. The cornerstone of the governance agenda is the devolution plan which transfers powers and responsibilities, including those related to social services from the federal and provincial governments to local levels.This plan was put into effect in 2001. The main premise of the devolution plan is the belief that development effort at the local level should be driven by priorities set by elected local representatives, as opposed to bureaucrats sitting in provincial and federal capitals. Devolution of power will thus strengthen governance by increasing decentralization, de-concentration, accountability and people's participation in their local affairs. However, in the meanwhile the transition has created its own set of dislocations and disruptions in the delivery of services that need to be addressed. 25.Other essential ingredients for improving economic governance are the separation of policy and regulatory functions which were earlier combined within the ministry. Regulatory agencies have been set up for economic activities such as banking, finance, aviation, telecommunications, power, oil, gas etc. The regulatory structures are now independent of the ministry and enjoy quasijud icial powers. The Chairman and Board members enjoy security of tenure and cannot be arbitrarily removed. They are not answerable to any executive authority and hold public hearings and consultations with stakeholders. 6. The National Accountability Bureau (NAB) has been functioning quite effectively for the last five years as the main anti-corruption agency. A large number of high government officials, politicians and businessmen were sentenced to prison, subjected to heavy fines and disqualified from holding public office for twenty-one years on charges of corruption after conviction in the courts of law. Major loan and tax defaulters were also investigated, prosecuted and forced to repay their overdue loans and taxes. 27.Civil service reforms aimed at improving recruitment, training, performance management, career progression, right sizing of ministries and attached departments, and improving compensation for government employees are part of the second generation reforms of the go vernment for building strong institutions in the country. Proposals have been developed to depoliticize recruitment, promotions and career development, enhance the independence and responsibilities of the Federal Public Service Commission (FPSC) and systematically introduce merit based recruitment and promotions.The Civil Service Act has to be amended to reflect performance based career progression enabling the government to reward efficient and competent civil servants. The public sector educational training infrastructure is also being restructured to strengthen skill based training of civil servants at all levels. These are highly demanding reforms and a consensus has to be built among the stakeholders before they can be accepted and implemented. 28. Reforms in access to justice, under implementation since 2001 will deal with delays in the provision of justice, case management, automation, and court formation systems.In addition, human resources, management information systems an d the infrastructure supporting judicial system are being revamped and upgraded. Small Causes Courts have been established to provide relief to the poor who have small claims. Alternate Dispute Resolution mechanisms have proved to be successful in bringing expeditious disposal of commercial and tax disputes and are being replicated for wider application. IMPACT OF SEPTEMBER 11 EVENTS. 29.A large number of observers and casual empiricists both within and outside Pakistan have been making bold but untested assertion that it is the massive aid flows and debt relief resulting from Pakistan’s participation in the war against terror after September 11, 2001 that has been responsible for the large reserve accumulation and economic turnaround. It is true that September 11 did help in diverting workers’ remittances from open market to inter bank, in providing some debt relief and new loans and grants, in removing official sanctions, but there were also huge costs incurred by Pa kistan.Export orders of more than $1 billion were cancelled. Visits by foreign buyers were suspended and are still avoided due to travel advisory, higher war risk premium was charged on freight and insurance premiums were raised. 30. The data presented in Table-II shows that even if we assume the extreme case that all official transfers, debt relief and all foreign loans/ credits represent the â€Å"gift† of September 11 to Pakistan, this combined amount represents only 8. 5% of total Foreign Exchange Earnings of the Country in FY-06.At its peak in FY-02, this amount was 21. 6%. But this entire amount is not a direct fall out of September 11 because Pakistan has been receiving foreign loans and grants every year since the 1950s. For example, in FY-00 and FY-01, the two years prior to September 11, we received 16 per cent and 19. 9% of Foreign Exchange Earnings in form of foreign loans and grants. The country had a positive overall balance and positive current and capital acco unt balances in FY 2000-01 much before September 11, 2001 occurred.Even in FY 1999-00 the deficit on overall balance was quite small less than 1% of GDP. Pakistan’s reserves had started accumulating in FY 2000-01 and SBP’s own reserves had almost doubled after paying off foreign currency deposits of almost $1. 7 billion to the non-resident and institutional holders and $. 2. 8 billion in debt servicing to external creditors. Thus, this perception that every thing good that has happened to the country is a direct consequence of September 11 is not only incorrect but highly exaggerated for the reasons described below. 1. It should be recognized that any external financial relief such as provided in the aftermath of Sept 11 would dissipate quickly and thus remain temporary and transitory in nature until it is accompanied by fundamental structural reforms that clean up the economic landscape, unshackle the entrepreneurial energies of private economic actors, lay the founda tions for competitive markets under the vigilant eyes of regulators and expand the productive and foreign exchange earning capacity of the country.As pointed out earlier unless the reforms of financial sector, liberalization of trade and tariff regime, improvement in tax policy and administration, deregulation of oil and gas and telecom sectors and privatization of state owned enterprises were put in place it would not have been possible to take advantage of the situation offered by Sept. 11 for its contribution to the dynamism of the economy and sustained growth during the last four years. 32.The data presented in Table-II clearly demonstrates that Pakistan’s foreign exchange earning capacity has expanded from $ 15 billion annually to $ 40 billion during the last six years or 33% GDP from 20% of GDP. Contrary to popular perception, it is the Pakistani businesses and nationals working abroad who provide the bulk of the foreign exchange earnings of the country. It is totally f allacious to argue that if the foreigners particularly Americans withdraw their financial assistance then the country will be in dire trouble.Less than $ 3. 5 billion are received through all types of foreign assistance while about $ 30 billion are generated by Pakistani businesses and nationals and the remaining amount accrues from foreign direct investment, privatization and international markets. If this pattern of foreign exchange earnings persist in the future the relative share of foreign assistance in form of grants or loans from United States, other friendly bilaterals and multilaterals will continue to decline and will become insignificant in the next 5-10 years. 3. In order to further evaluate the veracity of the assertions of the theory of dependence of our economy on the US, four key indicators are selected (a) US assistance as percent of Pakistan’s total budgetary expenditure (b) US assistance as percent of Pakistan’s total foreign exchange receipts (c) US assistance as percent of total current account receipts of Pakistan and (d) US assistance as percent of total value of imports of Pakistan.These indicators have been carefully chosen to see as to how much damage will accrue to our balance of payments and fiscal accounts if the US for one reason or the other abruptly decides to withdraw its assistance of all types. 34. The results of this analysis shown in Table III indicate that even under the worst case scenario of zero aid flows and no reimbursements for logistics services rendered to the US troops the diminution in foreign exchange receipts or budgetary resources would be insignificant – varying between 4. 5% of total foreign exchange receipts to 7. % of total budgetary expenditures. The other two indicators i. e. the proportions of total value of imports and current account receipts financed by U. S. assistance account for 6. 4 % and 5. 8% respectively – not worrisome amounts. 35. There is no doubt that the Govern ment of Pakistan and the people of Pakistan do very much appreciate the financial and moral support demonstrated by the U. S Government at the critical moment of Pakistan’s economy. Several other collateral benefits accrued to the economy as a result of the U.S bilateral debt forgiveness, strict scruntiny of remittances through informal channels, the US EXIM Bank and OPIC’s highly positive initiatives towards Pakistan and the withdrawl of all different types of economic sanctions. U. S Administration played a helpful role in ensuring larger volume of concessional assistance to Pakistan through the IMF, World Bank and Asian Development Bank. The prompt and generous response to the Earthquake of October 2005 by the U. S Government, private sector and on-governmental organizations left a very favorable impressions in the minds of Pakistanis. 36. US is an important trading and investment partner of Pakistan and we should continue to remain friends with this superpower. The purpose of this analysis is not to show that we care little for our friendly relations or do not cherish friendship with the Government or the people of the United States. As a matter of fact we should expand our relations with the United States in the areas of higher education, science and technology transfer, trade, investment and labor flows.We should also seek duty free market access for the products exported from the Reconstruction opportunity Zones (ROZs) in the Tribal areas as part of our joint strategy to provide economic benefits to the 3 million population living on the porous border with Afghanistan. But the main argument of this analysis is that the pundits in the US who believe that they can use the leverage of US official aid to paralyze Pakistan’s economy are sadly mistaken as they have an exaggerated sense of the importance of these official flows.Any attempt to impose conditions that impinge upon the sovereignty of Pakistan or conflict with our own national interests can be resisted without creating a serious dislocation to our macro economic stability or growth prospects. 37. Despite these reforms, Pakistan is facing many difficult challenges and will continue to face new unforeseen challenges. There is no room for complacency. One fourth of the population still lives below the poverty line.Human Development Indicators remain low as almost half of the population is illiterate, infant and maternal mortality rates are high, access to quality education and health care particularly by the poor is limited, income and regional inequalities are widespread, infrastructure shortages and deficiencies persist, skill shortages are taking a toll in the economy's productivity while at the same time, there is high unemployment and underemployment. Most worrying to me is that Pakistan's image abroad is quite negative.Foreigners are reluctant to visit Pakistan as they perceive the country to be a dangerous place. The worldwide preoccupation with the l arge economies of China and India and the ever-increasing quest to enter these markets is also working to the disadvantage of countries such as Pakistan. But the lesson we have learned is that there is no point in complaining and whining about this but to get on with the job, to work even harder, to overcome these deficiencies and constraints and to hope for the best.

Poverty Reduction Strategy

Introduction With one-fifth of the world's population not owning land or possessions at all. Very little land. They may have no legal rights to the land they farm, or they may work as hired labor on large farms. Low incomes and rural poverty are often the result. Taking into consideration by the world's standard the average person in the world lives on less than a dollar a day. In recent years, poverty reduction continues to be a challenge in Nigeria. 69 million people, or 54% of the population, lived below the poverty line In 2004. He Nigerian government has promoted agricultural growth wrought several policies noting that agriculture â€Å"outperforms all other sectors In reducing poverty† as it is the sector responsible for the most employment, especially among the poor. These policies including; the National Economic Empowerment and Development Strategies (NEEDS) and II, the Comprehensive Africa Agriculture Development Program (CAD), the National Food Security Program (NSF ), and initiatives for crops including cassava and rice. Partly as a result of these programs, agricultural growth rates Jumped from 3. % annually In 1990-1999 to 5. 9% annually In If several agricultural subsection reach official growth targets, Nigeria will experience 9. 5% annual agricultural growth and 8. 0% annual GAP growth. Moreover, the poverty rate will be halved by 2017 Recommendation 1 Land Reforms Redistributing land to small-scale farmers can do much to reduce their poverty. When rural families have land, and secure control over that land, they are likely to grow more food and see their Incomes rise. Land security can mean food security. Land reform can increase both employment and Income.Small farms employ more people per hectare than the larger units, often to the benefit of the landless and unemployed. And owning land means that family farmers often secure the bank credit that was previously denied them. Nonetheless, land reform is achieving much, especially when it is community-driven and tailored to local conditions and when it puts the poor at the forefront of the process. The Rural Poverty Report 2001 stresses the particular Importance of Glenn women more control over land as this would give them more power in the community and reduce their vulnerability within the household.Dividing large farms into smaller units often means that more food is produced per hectare. This is happening in a number of countries and Nigeria is no exception. Gender disparity in legal rights: exacerbating women's vulnerability In both the indigenous customary law, women are considered minors. This means that women?in law, and often In practice?do not control or own major assets, particularly land. This fundamental Imbalance In the property rights of men and women leads to gender differences in the pattern of poverty. De facto female headed households (I. E. Here a male co-head is nonresident for large parts of the year) have the highest core poverty levels of any household type. Labor-intensive Labor-intensive agriculture has significant growth and poverty-reduction potential: The small plots under present yields and methods of cultivation cannot provide earnings from farming, households may find it advantageous to switch to higher valued crops, such as market vegetables or perennial products, instead of cultivating predominantly maize, as at present. Those who stay in maize can also achieve higher yields than at present.Research elsewhere in Africa has produced evidence that the growth potential from smallholder centralization and exploitation of comparative advantage can also generate considerable multiplier effects on local incomes. As more small farmers commercialism they create demand for small farming implements, hired labor (backward linkages) and trading services, small transport, local consumer goods, and so on (forward linkages) which stimulate local labor demand. Both the initial and subsequent rounds of growth through demand link ages are labor-intensive and can be accessible to poorer households. Improved equity and efficiency in public education spending Country-wide, over 50 percent of the people who live in households headed by people with no education live in poverty. In contrast, the poverty ratio is halved for people in households whose heads have obtained some secondary education. This suggests that higher incomes are related to more education and that ensuring affordability of primary and secondary education for the poor is thus an investment with high returns for society and the household.Improved equity and efficiency in public education spending will lead to better outcomes?at a lower cost?for both poor households and the Government. 4 Enabling the Growth of Smallholder Agriculture: Smallholder agricultural centralization will need to be a central element of the poverty reduction and growth strategy of Nigeria. This emphasis is consistent with Insignia's comparative advantage in labor-intensive s ectors and location near a major port.There is scope for expansion, diversification and intensification to access export markets, through centralization of agriculture into high value crops such as vegetables, perennials, etc. And through the related multiplier effects and demand linkages. The capacity of rural areas to boost incomes is expected to increase, educing pressures on urban labor markets and services. Focusing public efforts on removing impediments to agricultural growth is thus a priority for reducing poverty in all of Nigeria.This bottom-up development approach is critically contingent, however, on cataloging and protecting investments for small farmers on Sways Nation Land. This requires: Rural land tenure reform to assure more secure property rights to small farmers. Promoting more sustainable cattle grazing management. Promoting small-scale financial savings and credit mechanisms in rural areas. Implementation of Policies l. Outlining a Poverty Reduction Strategy A n ew, equitable and dynamic pattern of growth and human development is required for a serious poverty reduction agenda in Nigeria.Unless public action is undertaken to remove major structural constraints to labor-intensive development, however, livelihoods are expected to continue stagnation and poverty to worsen further. The analysis of poverty can be used to identify priority areas for action. This agenda for reform will require courage, vision and sensitivity on the part of the country's leaders. Basic themes of a poverty reduction strategy for Swaziland are reposed below: 2 Ensuring Effective Human Development Investments: productive assets in which a country can invest.To facilitate higher productivity of labor, lower fertility and greater mobility of labor in these changing labor markets, the quality, relevance and affordability of basic education and health levels of service most accessed by the poor needs to be improved. A structural shift in the public spending pattern is nee ded to focus on primary and secondary education levels rather than academic tertiary levels, and on preventive, core health services rather than curative services.Priorities should focus on: Parameterization of education spending towards quality and efficiency at primary and secondary levels. Improving skills matching to labor market needs. Expanding early childhood development programs for poor communities. Emphasizing a primary and preventive health service. 3 Insuring the Poor against Major Risks: Nigerian poor continue to be highly vulnerable to major shocks and to be locked in poverty traps because of excessive uninsured risk.Public action needs to be selective, preventive and targeted where possible to reduce the economic limitability of the poor to the major risks. A public social protection program with the following priorities could have the most cost-effective impact in reducing the vulnerability of the poorest of the poor in Nigeria: Cross-sectarian, multi-level response to AIDS; Drought preparedness; Legal reform to provide equal rights to women; and Safety nets which are primarily work-based and self-targeted. Accountability, Information and the Poor A more coordinated approach to local development efforts?based on accountability of local government structures to the community and better monitoring of poverty information?is essential for improving economic management and poverty reduction efforts.Poverty information is very limited The Government, Nags, donors, and others have identified the lack of data on poverty trends and their determinants as a major constraint to establishing greater poverty focus in policy formulation. There is also no clear institutional framework for coordinating data generated by different institutions. Such data and an institutional structure to channel information to policy-makers and community organizations could facilitate social debate and prepare the groundwork for enacting reform.Strengthening Institutions to Incr ease the Poverty Impact of Policies: Finally, the speed and effectiveness with which the public policy framework can orchestrate this transformation can be improved by governance structures which are accountable to communities and with ongoing monitoring and evaluation of the ways in which growth dynamics are affecting the poor?both positively and negatively. Priority should be attached to: Institutional mechanisms which ensure poverty planning at central level; Local level coordination and community participation; and Establishment and use of a poverty monitoring and analysis system.

Precis Writing Essay

The English Composition paper of CE-2012 has really dented the confidence of the aspirants to a huge extent. Most of the aspirants who scored quite heavily in other papers were merely able to score less than 20 and even 10 in the English Precis And Composition paper.I was fortunate as well as tactical enough to accumulate 64 marks in the paper this paper. As per promised, I’m going to share my strategy for approaching each and every question one by one.Precis writing has been the most difficult and decisive question regarding the E.P.C. paper. This very question sets the tone for the rest of the paper and serves as a very good means for portraying what metal an aspirant is made up of.I have been lucky enough to have been taught by a school-teacher, Sir Kashif Rehman. Although he is a school teacher yet very tactical in his approach. I adopted his strategy while approaching the E.P.C. paper. Hence, I am going to share the way he taught me how to attempt the precis. I am going to give a comprehensive method of approaching this very question step-by-step. STEP 1: READING THE PARAGRAPH ( 10 – 15 MINUTES ) Read very carefully, not once but twice. After first reading, try to establish as much understanding of the text as possible. Highlight or underline the main ideas, arguments, or themes presented by the author. Second reading will help you understand the paragraphing of the given text and work out how much value or proportion has been given to each of the main arguments, themes or ideas. STEP 2: POINTS FOR THE PRECIS Write down the main arguments, themes, or ideas in the form of points in complete sentences using your own words. The sequence of ideas or points should be the same as was given in the original passage Try not to include any excessive detail, explanation, description or verbosity. Examples had better be avoided if they are not critical to the composition of the passage Don’t be worried about the number of words at this stage Write openly Try not to exclude any vital argument, theme, or idea STEP 3: ROUGH DRAFT Write points in the form of continuous paragraph taking good care of coherence, fluency by using devices such as sentence-connectors or adverb-connectors. Count the words in the given passage And then count the words of the rough draft Rough draft should be one-third of the given passage It may be maximum 10 words more tha the required number If your rough draft exceeds rquired words-count, edit it by using devices such as one-word substitution, by sharing subject or verb, by using clauses and phrases Bring your rough draft to the required limit STEP 4: NEAT DRAFT Now write down the neat draft f the rough draft Replacements and coherence should be taken good care of HOW TO CONCLUDE†¦. 1. Words in the given passage = 600 2. Required words = 200 3. Words in the precis = 206 P.S. All this work MUST be done on the neat portion of the answer-sheet so that the examiner realizes that you have followed the proper pattern

Risk Management Practices in Sea Ports Essay Example | Topics and Well Written Essays - 3000 words

Risk Management Practices in Sea Ports - Essay Example The risks that a port might be exposed to can be assessed and evaluated to further determine the costs for implementing a risk management plan. "Compliance with existing rules and regulations does not necessarily make for a safe port" (Lloyd's Register). This is very true and unfortunately many ports around the world rely on regulations alone to manage their port assets, this however can be detrimental to the overall need for a safe seaport. Lloyd's register is a company that assesses ships systems in order to provide improve their overall quality as well as facilitate safety for the crews, employees and customers. There are many in dependent company such as Lloyd's register that provide this service in an endeavor to help seaports meet and implement the standards required of them to maintain a favorable environment conducive to human life. Therefore physical assets are protected as well as maintained by ensuring that standards and policies are followed and continuously evaluated to guarantee that they meet the standards and policies set forth by government agencies. Seaports must deal with potential threats daily due to their easy access and vulnerability. The advent of seaports dealing with ongoing threat efficiently is more likely with a substantial well thought of risk management plan. ... Thus seaports have to use this to determine the level of risk management required. Costs can be a factor, however the cost of implementing a risk management plan is far trivial to the benefits that can be derived from it. Risk assessments will help a seaport determine if they are areas in which they can improve, and possibly provide training to make employees aware of any changes in procedures that may have been made as a result of the analysis derived from the assessments. Risks have varying consequences, and this is potentially important to seaports. Accidents can pose severe threats not only to the vessels, crews, and cargoes but also the public, environment, property, and local and regional economies (National Research Council Staff, 169). Accidents can be caused by human error or technical malfunctions; this ultimately puts individuals in contact with seaports on a day to day basis at risk. In the past there have been incidents that have prompted agencies to re-evaluate their procedures and measures taken to ensure the safety and protection of physical assets. A prime example of this would be the Exxon Valdez spilling that occurred on March 24, 1989. It was an environmental horror that occurred at sea and affected both wildlife and plants. Its departure area was Alaska at the Valdez oil terminal and bound for California. The main cause of this incident was attributed to human error brought on by exhaustion as well as insufficient traffic system. T he movement of hazardous or dangerous cargoes is not reviewed until a major marine accident occurs (National Research Council Staff, 169). This applies to the Exxon Valdez disaster, had proper measures and procedures

Assignment 1 F&A Research Paper Example | Topics and Well Written Essays - 500 words

Assignment 1 F&A - Research Paper Example Nonetheless, the executive are predicting low consumer confidence and high unemployment rate as two most important factors that will hinder the recovery of the retail industry. (KPMG, 2012) (Farfan, 2011) Note 1 to the financial statements provides a complete description of the RadioShack Corporation’s business. The company deals in electronic items and services through 4,395 retail stores under its brand name in the US. The company also operates in Puerto Rico, Virgin Islands and Mexico. In 2009, the company launched ‘Target Mobile Centers’ to increase their sales and revenue. However, due to its failure, the company has decided to wind up these centers by the first quarter of 2013. It is very important to understand this note because its helps to identify and comprehend the business operations of the company and its future plans of discontinuation of any product line. (RadioShack Corp. Annual Report, 2012) Best Buy and Wal-Mart are two of the important competitors of RadioShack Corporation because they tend to have the same business as well as operate in the same environment. This will allow us to compare their financial and non financial metrics against each other such as profitability, efficiency, leverage and earning potential. Similarly, through a survey, the position of the RadioShack can be compared against its competitors in the consumers’ minds. Compared to the industry average debt to total assets ratio of 0.72, RadioShack Corporation has a better financial position. The company’s 61% of the assets are financed by debt. However, RadioShack Corporation is highly leveraged company as compared to industry benchmarks. The company has raise $1.58 of debt for every $1 of equity in the company as compared to $1.2 raised by the industry. This signifies an increased riskiness in the company and a poor rating amongst the external stakeholders. (Bloomberg Businessweek,

Sustainable tourism practice and planning Essay

Sustainable tourism practice and planning - Essay Example It attracts over six hundred thousand visitors every year (Dale and Oliver, 2005:42). There are other tourist attraction sites such as national parks, landscapes, and many castles around Wales. All these and many others warrants this paper a closer insight into tourism practices and plans that can bring out sustainability to a wider group of Welsh inhabitants. Wales has three national parks namely Pembroke shire Coast National Park, Snowdonia National Park, and Brecon Beacons National Park. Presence of these national parks contributes to tones of positive effects of tourism into the country’s social, economic, and political as well as cultural related results. This paper will give a critical outlook into the positive and negative impacts of tourism basing the analysis on Pembroke shire Coast National Park as the destination of my choice. To begin with, tourism creates employment opportunities for many local people bordering the Pembroke shire Coast National Park. Documented ev idence shows that, in 2002, the country received over eight million tourists who led to the creation of 100,000-service sector jobs an amount, which is more than 8 percent of the country’s total workforce (Pitchford, 2008: 113-115). In addition, Cardiff, which is the capital city of Wales, is another tourist attraction site. ... Every national park in Wales has an authority ensuring operations of the site are in good terms. Each authority has two statutory purposes that resolve to enhancement and conservation of the natural beauty, cultural heritage, and wildlife in the area. Additionally, the authority operates purposefully to promote public’s enjoyment and understanding opportunities of the park’s special qualities. By participating in these duties, national park authorities promote cultural awareness and foster social well being of their communities. Cognitively, the government uses the income generated form tourism to develop local infrastructure (Dwyer and Forsyth, 2006: 326). It spends the money on developing new roads and airports. Due to growth of tourists’ adventurous activities and special interests holidays, the business has led to a wide range of offerings and accommodation services. This business investment structure has not only led to sports and outdoor activities, but als o resulted to improved education, health, crafts, and other social benefits to the locals of Pembroke shire. Tourists bring in foreign currency. This foreign currency can help locals by improving their social standards of living. It helps provide clean water and sanitation services. As such, the livelihoods of the local people transform significantly. Tourism industry is an important national economic booster as it plays a key role in shaping the economic factors leading to its improvement. It rolls out both environmental and landscape shapes of the communities around Pembroke shire national park. Tourism is the lifeline for the majority of businesses in most communities

Statistics 401 Mod 3 SLP - Hypothesis Testing II Coursework

Statistics 401 Mod 3 SLP - Hypothesis Testing II - Coursework Example It is merely based on a hunch or general observation without hard facts to support it. This implies that it calls for a means of testing whether or not it is true at the end of the research. There are two types of hypothesis; one is the null hypothesis which implores that there is no relationship between two variables under observation. In the case of this study in which the variables are my stock price and the DJIA, The null hypothesis is that there is no relationship between my stock price and the DJIA. The second type of hypothesis is the alternative hypothesis. This offers the opposite idea from that of the null hypothesis. It states that indeed there is a relationship between the two variables in question. ... 1.86 3.46 -12.87 54 15.08 227.41 12 -2.41 5.81 36.34 48 9.08 82.45 18 3.59 12.89 32.59 37 -1.92 3.69 16 1.86 3.46 3.57 70 31.08 965.97 15 0.59 0.35 18.34 23 -15.92 253.45 12 -2.41 5.81 38.37 36 -2.92 8.53 13 -1.41 1.99 4.12 35 -3.92 15.37 14 -0.41 0.17 1.61 21 -17.92 321.13 11 -3.41 11.63 61.11 55 16.08 258.57 16 1.86 3.46 29.91 TOTAL 467 2183.95 173 52.66 208.61 AVERAGE 38.92 14.41 r= 208.61 [(sqrt 2183.95)(sqrt 52.66)] = 0.309 Confirming in the table of the value of r shown below:- If r = +.70 or higher Very strong positive relationship +.40 to +.69 Strong positive relationship +.30 to +.39 Moderate positive relationship +.20 to +.29 weak positive relationship +.01 to +.19 No or negligible relationship -.01 to -.19 No or negligible relationship -.20 to -.29 weak negative relationship -.30 to -.39 Moderate negative relationship -.40 to -.69 Strong negative relationship -.70 or higher Very strong negative relationship ‘r’ is between 0.30 and 0.39 and therefore a moderate positive relationship. This implies that there is moderate positive relationship between my stock price and the DJIA. This confirms the alternative hypothesis which stated that; there is a relationship between my stock price and the DJIA REFERENCES Soper, H.E., Young, A.W., Cave, B.M., Lee, A., Pearson, K. (1917). "On the distribution of the correlation coefficient in small samples. Appendix II to the papers of "Student" and R. A. Fisher. A co-operative study", Biometrika, 11, 328-413.

MEDIEVAL WARFARE Essay Example | Topics and Well Written Essays - 500 words

MEDIEVAL WARFARE - Essay Example Certainly, masculinity is not exhibited only in terms of the nature of the combat, which generally involves brute force. Rather, critical aspects of the Full Metal Joust such as characterization continue to be an area where masculinity works most. Taking the season 1 of the Full Metal Joust as a case study, it would be noted that out of a total of 16 contestants, over 70 percent of the number were males (Froissart, 1346). This shows a preconceived knowledge and idea in the minds of the ordinary person on the street of how masculine medieval warfare was and thus the need to preserve it as a masculine venture. The second instance or example has to do with the fact that there is a general stereotype that depicts males as combative and agile in defense as compared to females. This stereotype has created a misconception that Full Metal Joust should be a thing for the males and that females should find themselves associated with certain less violent and combative ventures. Some pundits have linked the masculinity and stereotype involved in medieval warfare and other popular media to even the custom used by candidates, which they believe are always designed to appear masculine. This way, it is barely impossible to differentiate between a male and a female if they are both clad in their medieval warrior custom. In the whole idea or system of medieval warfare, it would be noted that much emphasis is given to some weapons over others. Technically, it could be said that this strategic approach has been taken due to the roles that selected weapons play in bringing about victory to warriors. To this effect, bow, arrow and spear have been given much attention whiles others like the sling have been sidelined. Two factors that could possibly account for reasons for this development has to do with the reaching ability of some of these weapons in the event of combat and the portability of the weapons for swiftness. On the reaching ability of

Sir Richard Branson, Chairman, Virgin Group, Ltd Case Study

Sir Richard Branson, Chairman, Virgin Group, Ltd - Case Study Example In the business circles, the talk is there may be not many business sectors, in which Virgin has not made his mark. â€Å"Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors ranging from mobile telephony, travel, financial services, leisure, music, holidays and health & wellness.† (Virgin, n. d.). Among other factors, this optimal growth is primarily due to the leadership of Richard Branson, particularly the combination of transformational as well as authentic style of leadership. Under these style, leaders will provide the employees under them maximum autonomy to plan as well as implement the various organizational processes. (Avolio and Yammarino, 2002). By adopting decentralization structure or even democratic form of management, these authentic as well as transformational leaders will productively involve employees in all stages of organizational management, giving them optimum responsibilities. This form of leade rship was prominently visible in Branson, when he launched those 400 odd companies. When an idea for a business arises in his mind or comes from others, Branson starts that enterprise by maintaining a controlling interest in it, and then will manage it in the initial phase. After the company starts to function in a steady manner, he will delegate leadership roles to the second rung leaders and will move on. This process of delegation and productively involving the employees was pointed out by Branson himself. He stated, â€Å"I come up with the original idea, spend the first three months immersed in the business so I know the ins and outs and then give chief executives a stake in the company and ask them to run it as if it’s their own,† (Sukhiy, 2007). This combination of authentic and transformational leadership styles can be aptly applied in United States, because with most of the prospective employees coming out of the current effective academic environment exhibiti ng entrepreneurial skills as well as willingness to take responsibilities, this style can be aptly applied business leaders in U.S. In addition, as these leadership styles can elevate the motivation levels of the employees and bring out their best, it can be adopted. Thus, if these leadership styles are followed in U.S., organizations there can diversify or expand their operations optimally, as the leaders can initiate new processes and just oversee them, by giving maximum responsibilities to their employees, who will take it to the logical and positive end. 2. Recommending a different leadership style that would make Branson an even more effective leader. Although from the above discussion of Branson’s leadership traits it is clear that he has maximally exhibited effective traits, there are room for improvement in some of his traits. One of the optimal traits of Branson is having a great vision. Because of such a vision, Branson takes high number of risks, when it comes to l aunching new companies or products or services. That is, without fully analyzing the product’s feasibility and success, Branson has impulsively launched many products or services, and sizable of them have ended in failures. Some of the examples, Virgin Cola, launched as a competitor to Coca-Cola,

Mary Todd and Abraham Essay Example | Topics and Well Written Essays - 500 words

Mary Todd and Abraham - Essay Example The letter reveals that the First Lady was more than a wife to the President. During that time, she was also his adviser, assistant, and bearer of blessings for the people. Where Abraham cannot be, Mary Todd is there so that the people will have someone to talk to about their problems and woes. Mary Todd is given the liberty to act out on her own, but she does not abuse it and still calls to Abraham for the final say. Their relationship as a couple and as partners is a healthy give-and-take one. The letter reveals that Abraham Lincoln regards his family just like he would do his country. Mary Todd knows that Abraham is not accustomed to writing, yet she still writes to update him, and although no reply is imminent, she still intends to tell him what is going on with their family. In return, Abraham expresses his love for his family by making sure that they are well and that they have everything that they need. When Mary Todd asked for money, she assumed that Abraham will send it, whi ch means that Abraham tends to their needs just like he oversees the needs of everyone. After reading the letter, it can be concluded that the study of primary documents is important because it conveys a lot about the writer of the letter and the intended recipient.

As a Mass Communication Student Essay Example for Free

As a Mass Communication Student Essay Mass Communication is a very interesting course. Like what John Phelan said, most of the students want to be in this field because the skills and talents they have fit to this course. It’s more fun and adventurous. You’ll encounter lots of people, ordinary, celebrities, politics. Go to different places. Enjoy foods and new things. And learn cultures of others. But I still can’t figure out what’s gotten into my mind in choosing Mass Communication. I even don’t want to be a public figure. As we all know, public figures doesn’t have privacy anymore. And sometimes they’re into trouble because part of their job is to criticize and give opinion on a certain issue. But that’s the consequence. Even if I work behind the camera, still my name will appear as part of the show or whatever it is that I’m into. Sometimes, to make others realize that what they do is not good anymore we must take actions for them to behave in the way we want and other people wants. And as Media personnel, being responsible is what we must also possess because the audience that we have has no age limit. Kids and youth can see us. We can be part of their growing process and we don’t want to be a bad influence to them. Instead, we want them to learn good things from us. Also for the old ones especially that they depend on us for the service of giving them the right information’s that they want to hear or to see. In return, we can feel the fulfilment that we are an effective Media Personnel. They say that in this field, you can have lots of money. Yes, if you are disciplined, hardworking and determined. But money is not important. What’s important for me now is to gain experience and to learn new things to prepare myself for the future. Those things that Phelan and Schramm said inspired and taught me a lesson not only about the things happening in Media but also about the life that later on we Mass Communication students will have.

Jacksonian democracy Essay Example for Free

Jacksonian democracy Essay Jacksonian Democracy refers to the political philosophy of United States President Andrew Jackson and his supporters. Jacksons policies followed in the footsteps of Thomas Jefferson. Jacksons Democratic Party was resisted by the rival Whig Party. More broadly, the term refers to the period of the Second Party System (1824-1854) when Jacksonian philosophy was ascendant as well as the spirit of that era. It can be contrasted with the characteristics of Jeffersonian democracy, which dominated the previous political era. Jacksons equal political policy became known as Jacksonian Democracy, subsequent to ending what he termed a monopoly of government. The Jacksonian era saw a great increase of respect and power for the common man, as the electorate expanded to include all white male adult citizens, rather than only land owners in that group. In contrast to the Jeffersonian era, Jacksonian democracy promoted the strength of the presidency and executive branch at the expense of Congress, while also seeking to broaden the publics participation in government. Jacksonians believed in enfranchising all white men, rather than just the propertied class, and supported the patronage system that enabled politicians to appoint their supporters into administrative offices, arguing it would reduce the power of elites and prevent aristocracies from emerging. They demanded elected (not appointed) judges and rewrote many state constitutions to reflect the new values. In national terms the Jacksonians favored geographical expansion, justifying it in terms of Manifest Destiny. There was usually a consensus among both Jacksonians and Whigs that battles over slavery should be avoided. The Jacksonian Era lasted roughly from Jacksons 1828 election until the slavery issue became dominant after 1850 and the American Civil War dramatically reshap ed American politics as the Third Party System emerged.

Analysis for Teslas Expansion into Russia

Analysis for Teslas Expansion into Russia List of abbreviations: MEDCs More Economically Developed CountriesNIC Newly Industrialized Country RUB RublePPP* Public-Private Partnership GDP Gross Domestic Product PPP Purchasing Power ParityFDI Foreign Direct InvestmentOECD Organisation for Economic Co-operation and DevelopmentEV Electric VehicleWTO World Trade OrganizationIMF International Monetary FundBRICS emerging national economies: Brazil, Russia, India, China and South Africa. Letter of Recomendation to the CEO To: Elon Musk CEO of Tesla, Inc Report on Russian Federation as a potential new market for Tesla, Inc. There is no doubt that eco-friendly vehicles will dominate a global car market in the future. Telsa already officially presented in most MEDC countries and now is a time to think about Transition economies (including NICs). The electric car market in Russia is still quite small but thanks to stabilising economy and sensible government policies there is a good potential to expand it. The ability to set up our dealership chain relatively quickly must be a consideration. Lack of charging facilities could be seen as a potential to insert and expand original Tesla Supercharger chain across the country and could lead to PPP* agreement between the government and business where Tesla could take part not only in the creation of those facilities but also in the further operations of it. As our research shows, Russia has a huge domestic market which has a potential to expand and get more wealthy, what means potentially a big client base. There are many state support programs such as: (First Car, Family Car, Private Business, and public city electric transport) with financing of 17.4bn RUB, subsidies given to Russian credit organisations for the reimbursement of a shortfall in income from credits granted by Russian credit organisations in 2015–2016 to individuals for the purchase of cars (7.0bn RUB) and other similar programs. (PwC, 2017) Conditions for investment right now are perfect if Tesla wants to have a dominant position in that market in upcoming years. However, its important to consider all the risks and to understand that factors such as movements in the exchange rate of the ruble, access to auto loans, interest rates, amount and effectiveness of government support and expansion of transport infrastructure will predetermine demand more than anything else. Introduction This report will advise CEO of Tesla Inc on whether to expand their official stores into the Russian market. Currently, Tesla has its official stores in 28 countries including most of a western Europe, UAE, China, Taiwan, Australia and other and some other   MEDC countries. (Tesla, 2017) The aim of this report is to understand and conclude how perspective Russian market can be for the expansion of Tesla. By using PEST, Porters 5 Forces model analysis and SWOT we were able to outline advantages and disadvantages of investing in the Russian market with a more in-depth analysis on the relevance of bargaining power of buyers, rivalry among existing companies, political and economic factors. PEST Analysis Russia is the biggest country in the world in terms of area (CIA, 2017a) and 9th in terms of population with over 142 million people living there. (CIA, 2017b) Despite all of its huge economic potential, in recent years Russia has suffered an economic recession due to sanctions which were implemented by the US government on March 6, 2014 after an annexation of Crimea by Russian military forces. (U.S. Department of state, 2017) However recently situation in Russian started to improve and now there is a positive trend in its economic growth which is expected to be at the level of 1.8% in 2019. (The World Bank, 2017) (P)olitical Factors: Russian was the largest country to emerge from collapsed Soviet Union in December 1991 (CIA, 2017c) and went through the 90s with two Chechen Wars from 11th of September 1994 to May of 2000 but even so, the active phase of the war was over there still was a high level of tension in the region and Russian counter-terrorism operation officially finished only in April 2009. (Al Jazeera media network, 2014) However, since then there were no major conflicts within a country and regions such a Chechnya seen much of an economic growth and government stability mainly due to massive cash injections from Russia’s federal government which were aimed at stabilizing   recently unstable territory. (Financial Times, 2015) The Russian Federation today stands as one of the most powerful and influential   states in the world and   and it keeps diplomatic relations with 191 countries and has 144 embassies around the world.(ICD academy for cultural diplomacy, 2014) Government type is known as Semi-presidential federation which is also called a managed democracy due to a high level of Government intervention. (CIA, 2017d) Corruption Perceptions Index research from 2016 suggests that there is still a very high level of corruption in Russia with the score of 29/100 what ranks it 131st out of 176 countries studied.(Transparency International, 2016) (E)conomic factors: Russia is 6th country in the world in terms of GDP and PPP which is an indicator of a strong economy and prospective market. (World Bank, 2017). Its economy mainly dependent on natural resources such as oil and gas as they make up a huge part of Russian federal budget revenue. For example, in 2016 this figure was equivalent to 36% which were made up of mineral extraction taxes and export customs duties on crude oil and gas. (The U.S. Energy Information Administration, 2017) There is a positive trend in Russian economy today after a couple of years of recession which was caused by western sanctions and drop of oil prices. (World Bank 2017) Inflation significantly went down from 15.5% in 2015 to 7.1% in 2016 and is projected to reach the target level of 4% in 2018 and monetary policy is fairly balanced with the current inflation rate. These improvements lead to a better economic environment in general which caused a positive chain effect in a banking sector and improved terms of trade. (World Bank, 2017) An illustrative example of improving Economic environment in Russia is the fact that in 2015 the number of FDI project grew by 61% in comparison with a previous two years. (Invest in Russia – Russian investment agency, 2016) (S)ocial factors: Russian society went through a huge transformation after a collapse of a Soviet regime and has turned from autocratic structure society to more democratic one. There are nearly 200 national ethnic groups represented in Russias 2010 census which makes it one of the most multicultural societies in the world. (Cia, 2017e) Income inequality remains one of the big problems in Russian society. Gini index of Russia in 2015 was   37.7 which is much better than 46.1 back in 1996, however it is still very high in comparison with most western MEDC countries. (The World Bank, 2017). Russian society has some strengths and weaknesses against OECD countries, however, in recent years there was a significant progress in bringing up a quality of live standards. The table below represents a comparison of average scores of OECDs and partner countries in some key social aspects. (T)echnological Factors: Russia is a country with a rich history of scientific and technological traditions. The 1990s crisis caused by the collapse of the Soviet regime led to the significant reduction of the government support for science and technology.   Many Russian scientists went to the United States or Europe in the so-called â€Å"brain-drain† migration. In the 2000s, on the wave of a new economic boom, the situation has started to improve, and the government launched a campaign which was aimed at innovation and modernisation. Current priorities for the Russias technological/scientific development include things such as energy efficiency, IT, nuclear energy and pharmaceuticals. (Sputnik, 2009) (Time, 2011) Also, due to western sanctions, Russia started to focus on replacement of foreign technologies and raw materials by domestic ones. This has worked as a push factor towards more develompment and reserch in some key sectors such as IT and energy. In September 2017 Russian President Vladimir Putin reminded of that strategy in meeting with Russian technology producers where he said that, in some spheres, state institutions could not work with companies running foreign software because that represented a risk for national cyber-security. (CNBC, 2017) Porters Five Forces Analysis Market defenition: Our analysis focuses on the new passenger cars market in Russia, particularly on electric/hybrid segment. Passenger cars are defined as vehicles with at least four wheels, used for the transportation of passengers from point A to point B, and consisting maximum of eight seats not including drivers seat. The Russian car market in 2016 decreased by 11% but it is expected to come back to moderate growth from the end of 2017 due to a positive trend in the Russian economy. (Automotive statistics ltd,  2017a) Competition in the industry:   The electric car market in Russia is relatively small in comparison with many MEDC countries, however, it is predicted to grow. There are 1,100 electric cars in Russia but most of them presented only by a few dominant models: Nissan Leaf 508 units, Mitsubishi i-MiEV 271 units and Tesla Model-S 181 units. (Automotive statistics ltd,  2017b) As we can see there is a high concentration ratio in the Electric car market in Russia as 89% of the cars are from top three firms in the market and Tesla already one of this three companies with a market share of 19% which is still quite a high number considering the fact that they dont have their official dealership in Russia yet. Potential of new entrants: The decree which allows standard petrol stations to operate charges for electric cars was signed in autumn 2015 and took force on November 1, 2016. Russian charging infrastructure is expanding. PJSC Russian Grids already operates 130 charging stations across Russia and by the end of December 2017 this number expected to rise up to 2017 and up to 1000 by the end of 2018.(Eurasia network, 2017) As there is a constant growth in a number of charging stations in Russia it could stimulate demand for electric cars and make them even more attractive therefore attract new entrants into the market. There are not many potential companies who could offer an electric car of a similar quality as Tesla right now, however, there are many hybrid options out there which are potential rivals and could easily enter the market as entry barriers are getting lower and lower with more Government incentives being introduced and new charging stations being built. Also, there are some big companies who are already looking into expanding into Russian market as well, such as Renault-Nissan coalition which is now the leader of the global EV market. (Eurasia network, 2017) (Bertel Schmitt, 2017)   Power of suppliers: In our report, we are looking for a potential expansion of Tesla dealership centres and not manufacturing sites. Therefore the power of suppliers is not important as cars and all needed materials for its maintenance will be imported by existing supply routes like in many other cases where Tesla operates. Power of customers: When considering an expansion into a Russian market, Tesla should have a clear understanding of what are the trends in consumer incomes, availability of car loans and perspectives of consumer confidence. Within nine months of 2017, there were 66 Telsa cars sold in Russia which represents a 92% rise in comparison to previous year. (Russian automotive news, 2017a)   Demand is likely to rise further and Teslas potential client base could increase enormously due to an amendment to the tax code which is discussed in State Duma right now. The idea proposed is to exempt transport tax for electric vehicles from 2018 onwards. (Russian automotive news, 2017b) Bargaining power of buyers would be low, as Tesla in Russia would be considered as high-end product particularly due to a low average income in Russia (37500RUB=650USD) comparing to most western countries. (Trading economics,  2017) Also, Tesla is one of the most advanced electro cars in the global market, therefore there are not many potential substitutions to it in that market segment what makes it quite a unique product and allows Telsa to have some power over its existing and potential client base in nearest future. Threat of substitutes: The main substitutes for electric cars, of course, would be considered standard petrol vehicles or a market of used cars. Especially used car segment seems to be the most promising one in upcoming years due to the average length of car ownership declining thanks to the recovery from the recent economic crisis. (Invest in Russia, 2017a) Some may consider public transport such as trains, buses, public bicycles or even planes as an alternative to electric/petrol cars. However Michael E. Porter‟s definition of a substitute is: â€Å"A substitute performs the same or a similar function as an industry‟s product by a different means†. (Porter, 2008)   Therefore we can say that most of those wont be considered as substitutes because they are unable to fulfil such key passenger car features such as representing social status, providing comfort, immediate availability, independence of destination choice and flexible route change, what makes their substituting force pretty low. Nevertheless, a used car segment is more or less capable of performing most of the functions listed above. SWOT Analysis To conclude PEST and Porter’s Five Forces research we will use a SWOT analysis: (Invest in Russia , 2017b) Content: Al jazeera media network.  2014.  Chechnya, Russia and 20 years of conflict.  [Online].  Ã‚  Available from: http://www.aljazeera.com/indepth/features/2014/12/chechnya-russia-20-years-conflict-2014121161310580523.html [10 November 2017]. Automotive statistics ltd.  2017a.  The Russian car market in 2016 decreased by 11%.  [Online].  Available from: https://eng.autostat.ru/news/view/13836/ [21 November 2017]. Automotive statistics ltd.  2017b .  The number of electric vehicles has exceeded 1000 units in Russia.  [Online].Available from: http://eng.autostat.ru/news/view/14483/  [21 November 2017]. Bertel schmitt.  2017.  Who Is The Worlds Leading EV Maker? Its Not Tesla.  01 MAY 2017.  Forbes.  [Online].  Available from: https://www.forbes.com/sites/bertelschmitt/2017/05/01/who-is-the-worlds-leading-ev-marker-no-its-not-tesla/ [23 November 2017].   CIA. 2017a.  The World Factbook (geography). [ONLINE] Available from:  https://www.cia.gov/library/publications/the-world-factbook/fields/2113.html#rs. [Accessed 9 November 2017]. CIA. 2017b.  The World Factbook (population). [ONLINE] Available from:  https://www.cia.gov/library/publications/the-world-factbook/fields/2119.html#rs. [Accessed 9 November 2017]. CIA.  2017c.  The World Bank in Russia (Background).  [Online].  Ã‚  Available from: https://www.cia.gov/library/publications/the-world-factbook/fields/2028.html#rs [10 November 2017]. CIA .  2017d.  The World Bank in Russia (Government Type).  [Online].  Ã‚  Available from: https://www.cia.gov/library/publications/the-world-factbook/fields/2128.html#rs [10 November 2017]. CIA.  2017e.  The World Bank in Russia (Ethnic groups).  [Online].  Available from: https://www.cia.gov/library/publications/the-world-factbook/fields/2075.html#rs [11 November 2017]. CNBC. 2017.Putin tells Russias tech sector: Ditch foreign software or lose out [Online]. Available from: https://www.cnbc.com/2017/09/09/putin-tells-russias-tech-sector-ditch-foreign-software-or-lose-out.html [17 November 2017]. Eurasia network.  2017 .  7 things to know about electric cars in Russia.  [Online].  Available from: https://eurasianetwork.eu/2017/08/19/7-things-to-know-about-electric-cars-in-russia/  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   [21 November 2017].   Financial times.  2015.  Chechnya’s economic recovery tested by slowdown.  [Online].  Available from: https://www.ft.com/content/8233d33c-ecd0-11e4-a81a-00144feab7de [10 November 2017]. ICD academy for cultural diplomacy.  2014 .  Summit Overview.  [Online].  Ã‚  Available from: http://www.culturaldiplomacy.org/academy/index.php?cccs-20131-moscow [10 November 2017]. Invest in Russia .  2017a.  Overview of the Russian and CIS automotive industry.  [Online].  Available from: http://investinrussia.com/data/files/sectors/Overview-of-the-Russian-and-CIS.pdf [27 November 2017]. Invest in Russia .  2017b.  Key Facts.  [Online].  Available from: http://investinrussia.com/key-facts   [28 November 2017]. Invest In Russia – Russian investment agency.  2016.  EUROPEAN ATTRACTIVENESS SURVEY 2016 RUSSIA FINDINGS.  [Online].  .  Available from: https://www.investment-in-russia.com/uploads/European_attractiveness_survey_Eng.pdf [11 November 2017] Organisation for economic co-operation and development (oecd).  2017.  How’s Life in the Russian Federation?.  [Online].  Ã‚  Available from: https://www.oecd.org/statistics/Better-Life-Initiative-country-note-Russian-Federation.pdf [17 November 2017]. Porter M. (2008). The Five Competitive Forces That Shape Strategy. HarvardBusinessReview, January 2008, pp. 2-18. PwC.  2017.  In 2017, the extention of the traditional state support programmes and introduction of new more target-oriented measures is planned.  [Online].  Available from: https://www.pwc.ru/en/automotive/publications/assets/auto-report-eng.pdf  [28 November 2017]. Russian automotive news.  2017a.  Tesla electric cars sales have grown by 92% in Russia . [Online]. Available from: http://rusautonews.com/2017/10/31/tesla-electric-cars-sales-have-grown-by-92-in-russia/  [23 November 2017].   Russian automotive news.  2017b.  Russian government has proposed transport tax exemption for electric vehicles.  [Online]. Available from: http://rusautonews.com/2017/11/15/russian-government-has-proposed-transport-tax-exemption-for-electric-vehicles/  [23 November 2017].   Sputnik. 2009.  Medvedev outlines priorities for Russian economys modernization. [Online] Available from:  https://sputniknews.com/russia/20091011156428675/   [17 November 2017]. Tesla. 2017.  Find us. [ONLINE] Available from:  https://www.tesla.com/en_EU/findus/list. [Accessed 9 November 2017]. The U.S. Energy Information Administration.  2017.  Russia.  [Online].  Ã‚  Available from: https://www.eia.gov/beta/international/analysis.cfm?iso=RUS&src=home-b2 [11 November 2017]. The World Bank.  2017.  Country Context.  [Online].  Ã‚  Available from: http://www.worldbank.org/en/country/russia/overview#1 [11 November 2017]. The World bank.  2017.  GDP, PPP (current international $) .  [Online].  Available from: https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?locations=RU   [11 November 2017]. The World Bank .  2017.  Poverty & Equity Data Portal (Russia).  [Online].  Available from: http://povertydata.worldbank.org/poverty/country/RUS [11 November 2017]. The World Bank.  2017.  Recent Economic Developments.  [Online].  Ã‚  Available from: http://www.worldbank.org/en/country/russia/overview#3 [11 November 2017]. The World Bank.  2017.  The World Bank in Russia (Overview).  [Online].  Ã‚  Available from: http://www.worldbank.org/en/country/russia/overview#1   [10 November 2017]. Time. 2011.  Russia Looking to Reverse Brain Drain of Young Scientists. [Online].Available from:  http://content.time.com/time/world/article/0,8599,2099861,00.html [17 November 2017]. https://www.kommersant.ru/doc/1816338 Russian version.  Ã‚   Trading economics.  2017.  Russia Average Monthly Wages.  [Online].  Available from: https://tradingeconomics.com/russia/wages  [23 November 2017]. Transparency international .  2016.  Russia.  [Online].  Ã‚  Available from: https://www.transparency.org/country/RUS   [10 November 2017]. U.S. department of state .  2017.  Ukraine and Russia Sanctions.  [Online].  Ã‚  Available from: https://www.state.gov/e/eb/tfs/spi/ukrainerussia/ [Accessed 9 November 2017].

Comparison of Flood Stories Essays -- essays papers

Comparison of Flood Stories There have been numerous flood stories identified from ancient sources throughout the world. The Bible and the Koran both have flood stories that are similar but also share differences. The Epic of Gilgamesh also has a flood myth that is contrary to other flood accounts. Even though these stories are all dissimilar they all start because of the faults of man. The notion of the flood comes from a varied source in each story. In the Koran it was Noah who asked God to flood the Earth because of man’s sins while in the Bible, God called down upon Noah and told him of the plan to flood the Earth and destroy all that was upon it because of man’s wickedness. In Gilgamesh the flood comes to Utnapishtim in a dream. Utnapishtim is told that the world will be destroyed because of man’s sins. The actual boats contrasted each other in the tales. In Gilgamesh the arc was around six stories high and was of a square shape. The arc in the Bible was only around three stories high and of a rectangular shape. The Koran does not tell much about the boat but it do...

Revelations in the Dark :: Death War Writing Literature Papers

Revelations in the Dark Growing up in the late 20th century has separated me from feelings of fear and woe, which are closely tied together with war. In my lifetime, the United States has come closest to an extended conflict of the same caliber as World War II on only two occasions. These occasions would, of course, be the Persian Gulf War and the September 11th attacks. Knowing this, it is obvious that I won't be able to fully express how one feels during times of extended conflict. Times where death seems imminent and victory far away are all but unknown to me. It is safe to say that I grew up in a relatively peaceful time, though what I do know of war is far too dark. War is a frenzy of pain that no one should ever have to face. Through history lessons, historically accurate movies/documentaries, and what I've witnessed from the conflicts in my time have taught me a great deal about what war really is. However, only from those directly involved in an extended conflict will ever truly be able to get a gra sp on what war is. Chester Hornback entered into the U.S. military in March of 1945. He was drafted despite being turned down by the Air Force in 1935 for being too short and lightweight. At the time he weighed in at only 128 pounds. And so near the end of World War II Hornback entered into the army and left his wife at home. After basic training he was placed into a tank destroyer unit. At the time it was normal practice for everyone inside a tank to open their mouths while the tank fired so that the pressure on their ears would be relieved. However, during a training exercise Hornback forgot to open his mouth. His ears bled and his hearing was damaged forever. Unfortunately for him, not so much that he would be given a discharge from service. In September of 1945 Hornback arrived in Okinawa, an island off the coast of Japan. He would describe it as a dreadful place. It would rain almost everyday, but it would never get cold. Okinawa is hot much like California only with far more humidity. Native to this weather was a tropical landscape, which covered the small island. Of course, Okinawa wasn't a deserted isle by any means. It was actually a very functioning home to many, but most of their homes were reduced to rubble during the massive fighting between U. Revelations in the Dark :: Death War Writing Literature Papers Revelations in the Dark Growing up in the late 20th century has separated me from feelings of fear and woe, which are closely tied together with war. In my lifetime, the United States has come closest to an extended conflict of the same caliber as World War II on only two occasions. These occasions would, of course, be the Persian Gulf War and the September 11th attacks. Knowing this, it is obvious that I won't be able to fully express how one feels during times of extended conflict. Times where death seems imminent and victory far away are all but unknown to me. It is safe to say that I grew up in a relatively peaceful time, though what I do know of war is far too dark. War is a frenzy of pain that no one should ever have to face. Through history lessons, historically accurate movies/documentaries, and what I've witnessed from the conflicts in my time have taught me a great deal about what war really is. However, only from those directly involved in an extended conflict will ever truly be able to get a gra sp on what war is. Chester Hornback entered into the U.S. military in March of 1945. He was drafted despite being turned down by the Air Force in 1935 for being too short and lightweight. At the time he weighed in at only 128 pounds. And so near the end of World War II Hornback entered into the army and left his wife at home. After basic training he was placed into a tank destroyer unit. At the time it was normal practice for everyone inside a tank to open their mouths while the tank fired so that the pressure on their ears would be relieved. However, during a training exercise Hornback forgot to open his mouth. His ears bled and his hearing was damaged forever. Unfortunately for him, not so much that he would be given a discharge from service. In September of 1945 Hornback arrived in Okinawa, an island off the coast of Japan. He would describe it as a dreadful place. It would rain almost everyday, but it would never get cold. Okinawa is hot much like California only with far more humidity. Native to this weather was a tropical landscape, which covered the small island. Of course, Okinawa wasn't a deserted isle by any means. It was actually a very functioning home to many, but most of their homes were reduced to rubble during the massive fighting between U.

The Success of Wemmick in Great Expectations Essay examples -- Great E

The Success of Wemmick in Great Expectations  Ã‚  Ã‚  Ã‚      Wemmick provides a complicated, yet interesting separation of his home life and work life. His home and work lives are as different in physical appearances as they are in personality differences. Many of his home habits allow him to express his care and decency, which contrasts with his mechanical work which lacks good value. Wemmick dedicates himself to separating the two so that he may keep his virtues intact while he works in the filth of Newgate. Wemmick is alone in his success of separation when compared to others such as Jaggers and Pip. Such dedication to keeping good values alive gives Wemmick so much integrity that he immediately becomes a favorite character.   The castle in Walworth has a drawbridge, a cannon, and a fountain. We see the effects of these defenses first when he raises the drawbridge "it was very pleasant to see the pride with which he hoisted it up and made it fast; smiling as he did so, with a relish and not merely mechanically"(229). He "relishes" or gains pleasure in the working of the drawbridge; as opposed to his mechanical office mode, he really smiles. With this first insight into Wemmick's other side, a simple integrity is revealed. The cannon, named Stinger, is mounted upon "a separate fortress, constructed of lattice-work. It was protected from the weather by an ingenious little tarpaulin contrivance in the nature of an umbrella"(229). The latticework and umbrella cover express Wemmick's imagination in planning the castle. Another of Wemmick's contraptions is his fountain. A mill and a cork run it. The water splashes out enough that it lands on any viewer of the fountain, which the Aged greatly enjoys. He lists his skills and says "and ... ...s the victor in the battle of lifestyles, because his is definitely much more agreeable. In regards to Pip, he cannot separate his home life from his expectations. He is uncaring towards his family and doesn't associate with them. He lives only in expectations as Jaggers does work. Only Wemmick succeeds in separating the two. Those of us who are suffering from a work-centered life should look to Wemmick for inspiration. We can learn from him how to allow ourselves to be able to enjoy life at home, without sacrificing out integrity at the workplace. Wemmick attains a freedom to live life to the fullest and he does it with incredible integrity. He is alone in his success, all the other characters have failed miserably, and have been left unfulfilled. Works Cited: Dickens, Charles. Great Expectations. Ed. Janice Carlisle.Boston: Bedford/St. Martin's, 1996.