China Currency Exchange Rate Essay Example for Free

China Currency Exchange Rate Essay The currency regime adopted by China is neither fixed nor flexible exchange rate system. China has announced in 2005 the â€Å"end of its firm peg against the dollar, instead allowing it to trade within a narrow band against a basket of currencies.† China regime is managed floating system where the currency increases very slowly year by year and the China government prevent the currency from changing quickly in the short term. The reason why Chinese government intervene in the currency market is to lower exchange rate to increase employment, maintain a fixed rate to maintain stability and improve their current account deficit. China government manage its currency rate by buying foreign currencies to increase supply of China currency, therefore lowering its currency value. They also lower the value of its currency by lowering their interest rates. In the case of China, it is very difficult and challenging for them to adopt the fixed exchange rate system due to their disadvantages. Firstly, China government must always adjust its interest rate so maintain the exchange rate. Changing the interest rate frequently will cause fluctuations in investments and growth and also stable employment. There is also a possibility that the export rate may be set at the wrong level. For example, if it was set at a higher level, this could affect China export competitiveness and their domestic market will suffer. Question 4b Though China has been heavily criticised by some foreign countries like USA for their practice, there are some advantages to managed flow system. Firstly, the managed flow system will ensure stability in China compared to floating. This is because if China suddenly appreciate their currency, their exports production will suffer and there will be lots of unemployment as a result. However there are disadvantages to managed floating system as well. People will try to challenge the earn funds from the currency as this system is very prone to speculative attack. Experiences have shown that speculative attacks could decrease the growth of a country’s gross domestic product by 6 percent or more.

Caring for Family Members with Alzheimers Disease Essay -- Alzheimer

"Confusion, Anxiety, Anger and Pain, Despair" these are some of the words that Kaunie Hagensen uses to describe her condition in the poem Lost. (Hagensen 1999) These feelings are shared by many people today who suffer from, or have family members who suffer from Alzheimer's disease. The Encyclopedia of Alzheimer's Disease describes it as being, "a progressive degenerative disease characterized by the death of nerve cells in several areas of the brain. While the most obvious symptom is loss of memory, the disease also causes problems with emotional control, vision, and language." (Turkington 2003, 14) "Alzheimer's disease" has previously been used to describe dementia arising in middle age, but because of the neuropathological differences that have been found, today it refers to a "common primary degenerative dementia occurring later in life" also known as senile dementia. (Evans 1990, 267) The change in the meaning of Alzheimer’s disease occurred prior to the 1960’ s. This disease is a problem that primarily affects elderly persons age 85 and older, but recently it has also been associated with adults 65 years and older. As life expectancy increases, so does the impact of the disease, especially in developed countries like the United States. A study that estimated the prevalence of Alzheimer's disease in the United States used results from East Boston in 1980, and applied them, by age and sex, to population projections for the United States from 1990 to 2050. The results of this study showed that in 1980, 11.3 percent of people 65 years of age or older had Alzheimer's disease. By 2050, the number of persons 65 years of age or older that have Alzheimer's disease in the United States is expected to exceed 10 million. (Evans... ...re, an abrupt and immediate end to strain is not a realistic outcome of institutionalization.† (Dellasega 1991, 204) Because there is no cure for Alzheimer's disease, taking on the responsibility of caring for patients in the home is a long term responsibility that requires a lot of planning and consideration. This is not a decision to be made on a whim or because of emotion. All options need to be weighed, and everyone affected needs to be considered. Placing a family member in a long-term care facility does not spell out neglect. Depending on the circumstances of the caregiver, caring for the patient in the home may lead to more neglect. The ‘right choice’ is different in each case, but without considering all the facets of your own situation the wrong choice will be made. I hope that this information will make that heavy decision a little easier to bear. Caring for Family Members with Alzheimer's Disease Essay -- Alzheimer' "Confusion, Anxiety, Anger and Pain, Despair" these are some of the words that Kaunie Hagensen uses to describe her condition in the poem Lost. (Hagensen 1999) These feelings are shared by many people today who suffer from, or have family members who suffer from Alzheimer's disease. The Encyclopedia of Alzheimer's Disease describes it as being, "a progressive degenerative disease characterized by the death of nerve cells in several areas of the brain. While the most obvious symptom is loss of memory, the disease also causes problems with emotional control, vision, and language." (Turkington 2003, 14) "Alzheimer's disease" has previously been used to describe dementia arising in middle age, but because of the neuropathological differences that have been found, today it refers to a "common primary degenerative dementia occurring later in life" also known as senile dementia. (Evans 1990, 267) The change in the meaning of Alzheimer’s disease occurred prior to the 1960’ s. This disease is a problem that primarily affects elderly persons age 85 and older, but recently it has also been associated with adults 65 years and older. As life expectancy increases, so does the impact of the disease, especially in developed countries like the United States. A study that estimated the prevalence of Alzheimer's disease in the United States used results from East Boston in 1980, and applied them, by age and sex, to population projections for the United States from 1990 to 2050. The results of this study showed that in 1980, 11.3 percent of people 65 years of age or older had Alzheimer's disease. By 2050, the number of persons 65 years of age or older that have Alzheimer's disease in the United States is expected to exceed 10 million. (Evans... ...re, an abrupt and immediate end to strain is not a realistic outcome of institutionalization.† (Dellasega 1991, 204) Because there is no cure for Alzheimer's disease, taking on the responsibility of caring for patients in the home is a long term responsibility that requires a lot of planning and consideration. This is not a decision to be made on a whim or because of emotion. All options need to be weighed, and everyone affected needs to be considered. Placing a family member in a long-term care facility does not spell out neglect. Depending on the circumstances of the caregiver, caring for the patient in the home may lead to more neglect. The ‘right choice’ is different in each case, but without considering all the facets of your own situation the wrong choice will be made. I hope that this information will make that heavy decision a little easier to bear.

Middle School Essay

As we start this new school year, I wish to welcome all of you to Roberto Clemente Middle School. In the previous year, we have introduced and developed new ways to teach students and maximize their capabilities in learning different subjects and disciplines. Even if there are problems encountered along the way, your efforts and inputs have been vital to create new methods and alternatives to address these issues. As we enter to school year 2009-2010, I encourage each one to continue supporting our projects and endeavors to further develop student growth and achievement. Through the years, Roberto Clemente Middle School has sought to improve our education and facilities by constantly training teachers and introducing new practices wherein they can learn and develop. At the same time, to meet the challenges of 21st century education, our faculty and administrators have aligned new systems of instruction and presented new ways to appreciate information with the use of new technological alternatives. To continue pursuing our vision for excellence, Roberto Clemente Middle School shall continue its pursuit of effective instruction as well as dwelling into new ideas that can improve practice. We believe that for your children to grow and develop holistically, it is crucial to raise appreciation and motivation. Due to this, our programs are focused on setting the balance between what students need and your expectations. We deem that this process can create new avenues for our students to become adaptive to the changing trends of the current time. This year, we seek to improve our state scores by addressing on subject areas that are lagging behind standards. For example, we have hired some new and experienced Math teachers. Their inclusion into the faculty can help encourage our teachers to learn and develop in the process. At the same time, our educators in English and Math have undergone seminar and training to introduce and develop new teaching strategies available today. This can help them address further your children’s needs and develop a better learning environment in the classroom. These together with the results shall be communicated to you accordingly in the meetings we shall be setting up for you. To ensure your active participation and involvement this year, Roberto Clemente Middle School has come up with different programs and schemes that enable everyone to take part in helping reach our vision and goals. One approach we seek to do is encouraging parents and guardians to take part in meetings. The time frame for this would be the second week of July which would run from 9am – 3:00pm. In here, I and teachers shall be available for consultation and open forum of significant and relevant issues that may be of interest for everyone. At the same time, part of the responsibility of teachers is to enhance communication is by formally writing letters showing the progress of your children in school. This can actively give you insights and ideas of his/her standing compared to other students. Likewise, it can encourage sharing of opinions and thoughts on issues significant for your child’s growth. With your inputs and opinions, we can derive new approaches and schemes that are suitable on both parties. These approaches can help you in monitoring the progress of your child and finding ways to participate in guiding and exploring opportunities for improvement. It is through these aims and goals that I seek to promote the necessary plans for this school year. Your participation and cooperation in these initiatives can help us recognize these visions and remain to be dynamic and accountable for every action we pursue. Again, welcome to Roberto Clemente Middle School and thank you for your trust in what our school can offer for your children.

The Advantages of Section - Free Essay Example

Sample details Pages: 4 Words: 1342 Downloads: 6 Date added: 2017/06/26 Category Law Essay Type Analytical essay Tags: Act Essay Advantages And Disadvantages Essay Did you like this example? ADVANTAGES OF S. 176, WHO BENEFITS AND CASELAWS. INTRODUCTION As a general outline, S. Don’t waste time! Our writers will create an original "The Advantages of Section" essay for you Create order 176 of Companies Act 1965[1] deals with schemes of arrangement of companies facing financial difficulties or in the case of companies at the brink of winding-up. What is, à ¢Ã¢â€š ¬Ã…“Schemes of Arrangementà ¢Ã¢â€š ¬Ã‚ , and how do these schemes assist or facilitate the companies during financial difficulties? To define in simple terms, à ¢Ã¢â€š ¬Ã…“Schemes of Arrangementà ¢Ã¢â€š ¬Ã‚  refer to schemes that enable companies in financial difficulties to pay out to their creditors in full. Therefore, companies enter into schemes or arrangements with creditors to put into effect a compromise or a moratorium. What is a à ¢Ã¢â€š ¬Ã…“moratorium?à ¢Ã¢â€š ¬Ã‚  A à ¢Ã¢â€š ¬Ã…“moratoriumà ¢Ã¢â€š ¬Ã‚  can be defined to 2 things : A temporary prohibition on an activity; From the legal aspect, it means an authorized delay of legal obligations or payment.[2] Therefore, the term à ¢Ã¢â€š ¬Ã…“moratoriumà ¢Ã¢â€š ¬Ã‚  is used to show that a temporary deferment of payment by the companies in debt to their creditors is, legally allowed à ¢Ã¢â€š ¬Ã¢â‚¬Å" by the leave of Court. A compromise scheme, however, is the type of scheme whereby the creditors agree to accept payment of less than the amount that is owed to them.[3] In other words, once the compromised amount is paid, the company is released from any further obligations or debt towards the creditors. In certain occasions, the creditors may also compromise to convert their debts into shares in the company.[4] Therefore, it is on the agreement of the companies and their creditors to determine which scheme or arrangement suits best for both parties. WHAT IS S. 176 COMPANIES ACT 1965? Now, focusing on the main issue, how does S. 176 of CA 1965 actually facilitates or assists companies which are facing financial difficulties, into entering schemes of arrangement? The answer would be because S. 176 acts as a mechanism, or as a tool which binds a formal compromise (companies may pay less than the amount owed to creditors upon agreement by both parties) or moratorium (suspension or delay or deferment of payment for a specified period of time to their creditors) between the participants as long as an agreement by the majority of the members have been achieved and, subject to approval by the court. In short, when a company and its creditors agree to enter a scheme of arrangement, S. 176 comes in to facilitate both parties by : Binding both parties once a majority vote is achieved and obtaining approval from the court to grant leave for the scheme of arrangement. S. 176 can also be read together with S. 178[5] and S. 180[6] as S. 178 sets out the orders that the court can make to put into effect a scheme for the reconstruction of any company or companies or the amalgamation of any 2 or more companies. As stated under S. 178(1) : à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦Where an application is made to the Court à ¢Ã¢â€š ¬Ã‚ ¦ for the approval of a compromise or arrangement and it is shown to the Court that the compromise or arrangement had ben proposed, for the purpose of, or in connection with a scheme for reconstruction of any company or companies, or the amalgamation of any 2 or more companies à ¢Ã¢â€š ¬Ã‚ ¦ à ¢Ã¢â€š ¬Ã‚ ¦ the Court may, either by way of approving the compromise or arrangement or, by subsequent order provide for all or any the following matters à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ [7] Therefore, what S. 178 provides is actually the requirements or the order the court may request in order to make the scheme or compromise to be effected. S. 180 on the other hand sets out the procedures that enable the transferee company to compulsory acquire the shares of a dissenting shareholder to a scheme or a contract that involves the transfer of all shares in a particular class in the transferor company to the transferee company.[8] WHO BENEFITS FROM S. 176 COMPANIES ACT 1965? In a nutshell, it can be said that the scheme of arrangement saves companies from bankruptcy by giving a chance to the companies to pay their debt to their creditors or debenture holders. Therefore, as clearly stated above, ità ¢Ã¢â€š ¬Ã¢â€ž ¢s clear to say that the companies facing financial difficulties should benefit most from S. 176 CA. This is because the main purpose of S. 176 CA is to restructure the financial affairs of a company which is heavily burdened with debts. Therefore, when S. 176 comes in as a saving provision for companies in debt, it eases both the company and their creditors. However, as much as the company may receive benefits from S. 176, there are circumstances where companies may misuse the provision for the own benefit. Therefore the law should provide a safeguard provision for the creditors as well. We must bear in mind that the main focus of S. 176 is to ease the burden of the companies who are truly in a fi nancial crisis. The advantages at the end of the scheme of arrangement should be of that the companies are able to carry on their business ultimately as usual, and not release themselves from liability of paying the debts they owe to their creditors. S. 176 AND CASELAWS The law and its relation to the scheme of arrangement is governed by S. 176 CA. As stated earlier in the general rule, when a company is soon to go bankrupt or winding-up, S. 176 CA acts as a mechanism and as a tool to protect the company and assist them in paying their debt of to their creditors. S. 176 CA provides that a scheme of arrangement of either a compromise or a scheme may be put into effect and thus, helping both the company à ¢Ã¢â€š ¬Ã¢â‚¬Å" to continue their business as usual à ¢Ã¢â€š ¬Ã¢â‚¬Å" and to pay the creditors back à ¢Ã¢â€š ¬Ã¢â‚¬Å" the money owed to them. How does the law apply or what are the instances where S. 176 CA were applied? First and foremost, when a company wishes to create a compromise or a scheme, the company itself à ¢Ã¢â€š ¬Ã¢â‚¬Å" the member of the company or member of a class or the creditor à ¢Ã¢â€š ¬Ã¢â‚¬Å" to make an application to the Court. For instance, in the landmark case of Re Foursea Construction (M) Sdn Bhd[9], the court held that and application of arrangement for ex-parte is not allowed as it must be in the form of both parties being present and active in order to avoid injustice especially towards the creditors. In other words, for an application of scheme of arrangement, the Court shall not grant the application if there is only one party that applies to the Court. It must be applied from both parties à ¢Ã¢â€š ¬Ã¢â‚¬Å" the company and the Creditor. However, with every general rule, there is also an exception. In this case, a circumstance where the Court may allow an ex-parte application is when there is a sense of valid urgency that exists. The application of ex parte is seen in the case of PECD Bhd Anor v Merino-Odd Sdn Bh d Ors[10] where the applicants filed an ex-parte application, and the application is only for exceptional cases of à ¢Ã¢â€š ¬Ã‹Å"valid urgencyà ¢Ã¢â€š ¬Ã¢â€ž ¢. Therefore, the applicants have a crucial duty to disclose all relevant materials including any information that may be unfavorable to the applicantsà ¢Ã¢â€š ¬Ã¢â€ž ¢ themselves. The court will, strictly compel the applicants to comply this requirement. However, in this case, in order to obtain the ex-parte order, the applicants did not sufficiently identify all their supporting documents that need to be disclosed. As a result, the court held, since the rule of fair and frank disclosure should be practiced by the applicants in this case, the applicantsà ¢Ã¢â€š ¬Ã¢â€ž ¢ failure to disclose the subject matter and decision of the previous court which did not favor them was actually against the principle of disclosure.[11] It was found and proven the applicants had acted mala fide and the judge set aside the ex-parte appl ication and his restraining order under S. 176 of CA 1965. [1] S. 176 Companies Act 1965. [2] Dr Shanty Rachagan, Dr Janine Poscoe, Anil Joshi, à ¢Ã¢â€š ¬Ã…“Concise Principles of Company Law in Malaysiaà ¢Ã¢â€š ¬Ã‚ , p. 551. [3] www.lawteacher.net/saving-companies-which-face-financial-difficulties (accessed on 19th December 2014) [4] Dr Shanty Rachagan, Dr Janine Poscoe, Anil Joshi, à ¢Ã¢â€š ¬Ã…“Concise Principles of Company Law in Malaysiaà ¢Ã¢â€š ¬Ã‚ , p. 552. [5] S. 178 Companies Act 1965. [6] S. 180 Companies Act 1965. [7] S. 178(1) Companies Act 1965. [8] Dr Shanty Rachagan, Dr Janine Poscoe, Anil Joshi, à ¢Ã¢â€š ¬Ã…“Concise Principles of Company Law in Malaysiaà ¢Ã¢â€š ¬Ã‚ , p. 553. [9] [1998] 3 CLJ 135. [10] [2009] 3 CLJ 685. [11] www.lawteacher.net/the-law-of-scheme-and-arrangement (accessed on 19the December 2014)