The Financial Crisis And The Uk - 865 Words

This essay will talk about how the financial crisis influenced enterprises in the UK and in China. It’s obvious that the financial crisis originated in the United States and it had three major features: high destructive effect, long continuance and wide spreading. Many enterprises are impacted by the financial crisis in terms of imports and exports, unemployment and enterprise competition. In China, small and medium-sized enterprises are very necessary because China is a large population of developing countries, and it is better able to promote the development of national economy. Therefore, China should help small and medium-sized enterprises solve problems. For the UK, the financial services industry is a major industry, if the financial sector can’t operate properly, the British economy will become a failure. Due to the impact of the crisis, Britain also suffered a severe credit crunch. The house market in the UK is quite low. Moreover, under the financial crisis, lo ts of people can’t acquire a job because many enterprises close down. The number of unemployment increase dramatically, therefore the influence of the financial crisis is very serious. It has a severe shock in export in China. The number of exported orders decreased sharply. Between January to August in 2009, China’s foreign trade export 730.74 billion which down 22% year on year. At the same time,general trade import prices fell by 22%, imports increased by 4%, processing prices fell by 6.1% and importsShow MoreRelatedUk Government Responses For The Financial Crisis945 Words   |  4 PagesUK Government Responses to the Financial Crisis UK government was very swift in its response the financial crisis. Various measures were taken to address the economic anomaly that came with the crisis. These range from various monetary policies to fiscal policies. Some of these policies are discussed below: Reduction in interest rate: In March 2009, UK government through Bank of England reduced interest rate from 5.0 % in September 2008 to 0.5 %. Figure 7 below shows UK interest rate level from aRead MoreThe Impact Of Financial Crisis On The Uk Economy1240 Words   |  5 PagesExecutive summary The financial crisis 2007/08 led to the fact that some large financial institutions were under threat to collapse and had to be bailed out by the government to avoid a total meltdown of the financial system. The financial crisis was triggered by a combination of factors; some of them were the lack of regulations and supervision, excessive leverage practice, insufficient liquidity provision and a lack of adequate capital holdings by the banks. This report will focus on two differentRead MoreFinancial Crisis Impact on Uk Government3011 Words   |  13 PagesThe UK government has announced a package of measures aimed at rescuing banking system that makes 400 billion pound. 100 billion pound will be available in short term loans from bank of England on top of an existing loan facility. Banks will have to increases their capital by at least 25 billion pound and borrow from government. An additional 25 billion pound in extra capital will be available in exchange of preference shares. Government described as the root cause of current financial crisisRead MoreEssay on The Financial Crisis and UK Bank Scandals1056 Words   |  5 Pages The Financial Crisis and UK Bank Scandals In September 2007 the UK banking industry began exhibiting symptoms of the financial crisis that started in America in 2006. Northern Rock was in trouble and had to ask the Bank of England for help. When news of this got out customers started queuing around the block to withdraw their money. In 2008 Northern Rock was nationalised, and in 2012 it was bought by Virgin Money. Today the banking industry can be seen to be on the road to recovery. But on thatRead MoreEssay on The Impact of Financial Crisis on the Uk Job Market2471 Words   |  10 PagesThe impact of the financial crisis on the UK job market and employment (2007-2009) Module: PM021-Aspects of British Culture and Society Name: JUN YU WU Student Number: 0908108 Tutor: Jeff Meadowcroft Word Count: 1,970 Contents 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...Page 3 2. Global financial crisis (2007-2009)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3 3. Influence on world job market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3-4 4. Influence on the UK job market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Page 4-5 4Read MoreThe Impact of Financial Derivatives Market on the Uk Economy-: Before, During and After the 2008 Financial Crisis2453 Words   |  10 PagesResearch Proposal: 1-Provisional title: The impact of Financial Derivatives market on the UK economy-: Before, during and after the 2008 Financial crisis. 2-Rationale The operations of the derivative market has become a rising concern today in the world and in the UK in particular as this market could destabilize the efficiency of the financial market and the economy at large if not managed properly by its users or if a major fault occurs in the derivative market, as it plays a vital role asRead MoreBanking of Uk1564 Words   |  7 Pages1. The financial crisis of 2007/2008 and its impact on the UK and other economies Do you still feel vague about the causes and the effects of the financial crisis of 2007/8? Are you preparing for a job interview in either the private or public sector? The events of 2007/8 have shaped both the current UK commercial and business scene and are now having a massive effect on the public sector. Similar impacts are being felt across Europe and the wider world. Knowing a bit more about what happenedRead MoreThe Structure, Conduct and Recent Performance of the Uk Banking Sector1105 Words   |  5 PagesINTRODUCTION Before discussing the structure, conduct and recent performance of the UK banking sector, it is useful to provide an insight in the recent global financial crisis caused by the sub-prime mortgage crisis initiated in the US and underline its effects on the banking industry in the UK. It all started with the collapse of the housing bubble in the US, as borrowers were no longer able to meet their financial obligations and as consequence many of these subprime mortgages became default andRead MoreThe Main Structural Changes Implementation Of The Uk Financial System1708 Words   |  7 Pagesargued that the financial markets in the UK have failed to provide adequate support for industry. Identify the main structural changes implemented in the UK financial system over the last two decades and explain how these changes have affected the supply of funds in the industry. The financial system is defined by Investopedia as the system that enables lenders and borrowers to exchange funds. The global financial system is basically a broader regional system that encompasses all financial institutionsRead MoreIntroduction Of The Bank Of England986 Words   |  4 PagesParliament were subject to introduce by the UK Parliament in order to increase confidence in the banknotes that were in circulation through limiting on the rights of banks in issuing notes. This concept leads to general idea of this paper, which will look at the evolution of output, inflation, the official bank rate set by the Bank of England and government spending in the UK (Greer, 2009). It is fascinating for one to track on how the global financial integration has been evolving for the past century

Sometimes People Are Unable to Control the Directions...

Sometimes people are unable to control the direction their lives take. This can be a hard concept to grasp, but one needs to understand that one cannot control every single detail or event in one’s life, and also cannot possibly predict what will happen in the future. Obstacles of every kind will strike, whether these trials come in the form of day to day hardships, catastrophic natural disasters, or even the fate of the gods. The only thing one can really do is adapt to the new situation and try to move forward. Making decisions can be extremely difficult but one of the worst feelings a person can have is having a decision made for you. Although one may consider these changes in direction to be trivial, in truth they may actually have†¦show more content†¦Truly, human beings are left powerless to control the detrimental effects that Mother Nature has on their lives when a natural disaster hits. Furthermore, no matter how many obstacles or how impossible they may seem, even if against the will of the gods, one must still try to move forward. In Homer’s timeless epic, The Odyssey, theShow MoreRelatedNo Control At All By Jack1264 Words   |  6 PagesThis child, lets call him, Jack. With no control at all, Jack was fortunate enough to be born into high-income country, like New Zealand Then there’s, Jill. With the same amount of control as Jack, he added to the total of 10,368 children born into poverty a day. That’s one child, every 1.2 seconds Jack has a 1 in 165 chance of dying before he’s 5. Jill on the other hand is not so lucky and the odds of him reaching his 5th birthday are 1 in 6. Everyone was born into and are living in circumstancesRead MoreDifference Between Integrated Theory And Holistic Theory1200 Words   |  5 Pagesand delinquency. John Braithwaite’s theory of crime shaming and reintegration is based on a fully integrated model that uses a variety of concepts from multiple disciplines. These multiple disciplines include opportunity theory, subcultural theory, control theory,learning theory, and the labeling theory, and they rely on the notion of differential shaming. opportunity theory Braithwaite noted that their was aspiration and means both legitimate and illegitimate. In criminal delinquency there are lockedRead MoreA Conversation With Real Life Director Harrison Starr1693 Words   |  7 Pageslike he is resigned to the fact that war will always exist. In one passage Vonnegut recounts a conversation with real-life director Harrison Starr. When Vonnegut explained that he was working on an antiwar book, Harrison said â€Å"You know what I say to people when I hear they’re writing anti-war books? ... I say, ‘Why don’t you write an anti-glacier book instead?’†(3). Vonnegut informs the reader that what Harrison meant by these words of course, â€Å"was that there would always be wars, that they were asRead MoreDoctor Assisted Suicide And Suicide1585 Words   |  7 PagesIn most people s lives, they will experience a moment of knowing death is near. Whether it be with a family member or themselves, technology has been able to help society grasp an imminent death. As the human body ages, many people feel pain throughout their body, and sometimes this suffering can seem unbearable. Doctor assisted suicide has been seen as an easier way out, and the ability to end ones life has been debated constantly. When a person has terminal illness and are unable to live life theRead MoreComparing The Yellow Wallpaper By Charlotte Gilman Perkins And The Narrator s Similarities1456 Words   |  6 Pag esGilman Perkins and the Narrator s similarities Women in the eighteenth century were confined by their husbands, and imprisoned in their own homes. Women had no rights to their own lives, or a say so in how to live it. Women at this time struggled for equality, and they were unable to think or live for themselves. If they showed any signs of being unhappy they were condemned by society and their master. In this process many women transcended into severe nervous depression. In the storyRead MoreMarijuana s Active Ingredient Is Tetrahydrocannabinol ( Thc )1189 Words   |  5 Pagestransmitted in one direction. When THC binds to cannabinoids receptors it prevents the refractory period from occurring which results in action potentials constantly being fired and this causes thoughts, thinking and imagination to amplify. Another effect that occurs is that an individual is unable to retain memories. (Intheknowzone.com, 2015) The behavioural changes that occurs when a person takes marijuana is that it impairs judgment and reasoning skills for example individuals that take marijuana onRead MoreSin : The Spiritual Walk Of A Believer1266 Words   |  6 Pageseternity separated completely from Him. He has promised to forgive us of our sins, but only if we take initiative and confess them to Him. Although Jesus died on the cross to pay our debt in full, there are still consequences when we sin against a holy and righteous God, and we don’t ask for repentance. We must acknowledge that unconfessed sin in the life of a believer will damage our ministry, take away our joy in Christ, and ultimately make us feel separated from God. When we are living in sinRead MoreCauses And Symptoms Of Cerebrovascular Accident1465 Words   |  6 Pages Jan, a 72-year-old woman has suffered a cerebrovascular accident. She Lives on her own with her three cats in a second-floor apartment. She is worried about how she will care for them as she recovers from her stroke. Following is information about her condition. What is a cerebrovascular accident? What are the signs and symptoms? What are the pathogenies of the condition? What are the body changes after the CVA? Economic impact cardiovascular disease causes. Cerebrovascular Accident (stroke)Read MorePolity: Political Culture and the Nature of Politics Essay1119 Words   |  5 Pagesclaims to have.(Carr, 2007,p.175) At the end of page 174, Carr brings up an explanation of how rules are the reason that things get done in a bureaucratic system. It is the privates that listen to their commanding officers and follow the rules and direction that the commanding officers give them. Once again, this is how things get done. Carr states, â€Å"Like any bureaucracy, the military depends upon the expertise of its commanding officers and the loyalty of its subordinates. Everyone needs to understandRead MoreEssay on Traumatic Brain Injury1393 Words   |  6 Pageseverything that you do. Damaging of the brain can cause permanent effects to you including paralyzation of the human body. It is critical that we try and protect the human brain as much as possible. Brain injuries leave everlasting effects on humans; people need to be aware of what trea tments are used on brain injuries, how they occur, and the importance of the brain. Head injuries are a rapidly growing issue within the United States today. Almost every sport player faces the fact that they may end

Economic Geography Increasingly free essay sample

Economic Geography increasingly rests upon the social, the environmental as well as the economic dimensions of contemporary life. Discuss (1500-2000 words) Economic geography is a broad term which can define many aspects of everyday life, in reference to everyday people, from all types of backgrounds. Economic Geography has to do with things, and services. It concerns not only the people and places that provide them, but the people and places that consume them as well. Economic Geography discusses things as commodities, created for exchange, and the exploitation of the labour invested. It concerns the mediation of exchange amp; pathways which move from production to consumption (from the birth to the death of a product) (Mackinnon and Cumbers, 2007, p. 173-213). In this essay I will talk about many ways in which the above statement can be proved, by using well-known examples to demonstrate my case. With regards to the social dimensions of contemporary life, they make up a big part of Economic Geography. We will write a custom essay sample on Economic Geography Increasingly or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There are many social aspects of economic geography to do with all stages of production of a product, from start to finish. These aspects have to do mainly with (1) workers, and (2) consumers and buyers. Socialisation occurs between workers as they become acquainted with each other, mainly through the communication of business deals. These business deals are vital to ensure that everything runs smoothly. They occur when the journey of a product is being planned and supervised from beginning to end. Take for example the rice crop. It would need a plan of where and how the plant would be grown, how it would be cultivated, prepared for consumption and packaged, as well as transportation to the marketplace. This would all involve work by many people by communicating with one another and making a set plan, so that the product would be able to be sold on the marketplace for the cheapest price with a marginal profit, so as to provide for all the workers along the way. Exploitation can often happen as part of the manufacturing process of a product, whereby a person of authority would exploit a worker to make a better profit for themselves, without thinking of the working/payment conditions that the worker needs. Workers are often forced to work in poor conditions like a complete disregard for health and safety measures, such as little ventilation, cramped working spaces, and working with dangerous equipment without the proper safety precautions being taken. They are often made work long hours while being paid below the minimum wage, which isn’t sufficient for the workers financial needs. Conflict can arise between the employees and employers when the employees stand up for themselves and fight for their rights. The main concern of a business is to make a profit. As a result many workers are inevitably mistreated in the workplace. This conflict between employers and employees leads to many trade unions fighting for the rights of these employees. Fair Trade is an option whereby consumers can pay a slightly higher than average price for a select amount of goods, while the farmers, workers, and manufacturers are paid a fair price for partaking in the production process. There is a set clear minimum and progressive criteria to ensure that the conditions for the production and trade of a product are socially and economically fair and environmentally responsible (http://fairtrade. e). They are given good working conditions, and they are not mistreated by their employers, unlike what happens in some countries. Take for example the banana tree crop. If one buys fair trade bananas, they are contributing to the wellbeing of the farmers who grow and produce the crop, as well as the people who work in the manufacturing process to maintain a superior quality of the product. There are many environmental issues which can be discussed when talking about Economic Geography. An example I will talk about is the story of Love Canal in Niagara, in America. This is a strong example of how one does not need a lot of money to make a huge environmental impact. What happened in Love Canal over the last decade was clearly extremely damaging to the land used and also to the lives of what would be the future inhabitants of the area. Love Canal was a 1 mile long trench that was built in the town of Niagara in the 1890’s. Due to unforeseen economic circumstances the project was cancelled and what was left was a long vacant trench . This was to have a huge impact on the environment around this area, and as a result this influenced many families in the vicinity. In 1920 the city of Niagara used the canal as a landfill and then in 1942, Hooker chemicals used the site for burial of ‘nearly 20,000 tonnes of toxic waste’. ‘The waste was sealed in metal drums in a manner that has since been declared illegal. The canal was then filled in and the land was given to the expanding city of Niagara Falls by the chemical company. ’(http://education. yahoo. com) Niagara then built residential units and a school on the site. As a result, there was ill-health in the community in the years that followed, with ‘unusually high rates of birth defects, miscarriages, cancer, illness, and chromosome damage’ (http://education. yahoo. com). The Love Canal Homeowners association were opposed by Hooker Chemicals and the government because they had ‘no proof’. In 1978, the President of the USA at the time, Jimmy Carter, announced a federal emergency at Love Canal and he relocated 800 families . A superfund law was passed, and in 1995, Hooker Chemicals (now Occidental) were sued and agreed to pay the federal government $129,000,000. http://education. yahoo. com) This story shows how Hooker Chemicals mistreated the land that they bought, and how this brought about grave consequences for the residents in the area. Hooker chemicals believed that they could escape any penalties for what they did, by selling the land back to the government for $1. Consequently they had to pay for the many lives that they devastated due to their carelessness. This demonstrates how economic geography rests upon environmental dimensions of contemporary life. Another way in which environmental dimensions can be thought about when in relation to economic geography is by thinking about the significance of natural resources as part of economic development, and to highlight their continuing importance in the world, national and regional economies. One way in which we can think about natural resources and economic development is the topic of sustainable development. The main way in which we can put rates of resource use into line with the process of sustainable development is through using renewable resources as energy. Most of these esources are natural, and they can all be relatively cheap, as well as being environmentally friendly. There are many types of renewable resources that can be used as energy, such as solar power, wind power, hydroelectric power, biomass, and geothermal energy. Not all of these can be applied to every area of the world, as weather conditions can restrict the use of some of these, for example, wind power would not be very effective if it was to be put in force in an area which has little wind, i. e. Spain. Ireland itself is very suitable for wind farm’s as there is a vast amount of hilly terrain with high speeds of wind in plentiful supply. As for economic dimensions of contemporary life themselves, they have probably had the biggest influence on economic geography. Wall Street, in particular is the single most influential entity to affect the world’s economy. Wall Street, in New York City, is the most powerful stock market in the world. Depending on whether shares in stock’s rise or fall, these can make or break a person’s financial state. For example, this recent recession that we are still trying to overcome is due to the fall in many stock shares in a short space of time. Anybody who had a large amount of shares at that time would have lost a substantial amount of money. Many businesses and firms went bankrupt and a countless amount of jobs were lost. Due to this economic recession, our economic climate, in particular Ireland has been left in complete chaos. Many people have been put under extra financial stress to try and cope with the increase in prices. Also, for many businesses to stay up and running, it has been necessary to cut the pay of many workers, putting additional financial stress on the employees. Many people have been forced to cut down everyday living essentials just to keep going. Also, as a result of the amount of jobs that have been lost, many people have resorted to living from the jobseeker’s allowance (the dole), as there are very few jobs available for people who may be unskilled. The problem with the jobseeker’s allowance is that it is often easier to live off of it rather than to get a small job, which may be all that is available. Unfortunately, in a lot of cases, the salary they receive may be less than what they would get if they were living from the jobseeker’s allowance. As a result, many unemployed people in Ireland at the moment have a disincentive to go back to work. This is having a worse impact on our economy as fewer people are out there working to build Ireland’s economy back up to what it used to be. Thus, at this current time, Ireland is still finding it difficult to overcome this major economic depression that we are still presently in. To conclude the thesis that economic geography not only rests on the economic dimensions of contemporary life, but also the environmental and social dimensions of contemporary life, I will summarise my main points to follow through this argument. To prove that economic geography rests on the social dimensions of contemporary life, I will state that business would not be possible without manual labour, and business deals made by humans. The ways in which our economies work in today’s world would completely fall apart if we left it all to the work of computers alone. In order to demonstrate how the environmental dimensions of contemporary life are constantly rested upon by economic geography, I shall express how important they are, as a part of economic geography. I have previously talked about the story of Love Canal, and renewable resources as sources of energy. These two cases show how one does not need to use a lot of finance to destroy an environment, or in order to preserve an environment. With regards to the economic dimensions of economic geography, one could not be without the other. The economic state of the world was tipped upside down by the change in stock shares in a matter of days. This one thing, even as small as it seems, had a major impact on the economies of the world, and we are all still trying to recover from the recession that shortly followed. These verify that the statement that ‘economic geography increasingly rests upon the social, the environmental as well as the economic dimensions of contemporary life’ is indeed true and that there are many ways in which this can be interpreted, as well as the many ideas that I have discussed above.

Russian History free essay sample

This was due to Peter I (Peter the Great) because of his accomplishments forced the West to take notice of his nation. Peter The Great When Peter I came into power in 1689, he had two basic goals for his country: †¢Modernize his country in the western fashion. †¢Gain warm water ports to access to the west, thus, bringing more trade, recognition, and respect by the other European powers. Dealing with the West Peter set out his plans by sending a grand embassy to the European powers in 1697 to enlist their help against Turkey. He went along too, pretending to be a ships carpenter, and worked in English and Dutch shipyards. He studied everything from anatomy and engraving to European industrial techniques in order to gain as much information as possible. He was determined to give Russia an outlet to the sea, both on the Baltic Sea and Caspian Sea. He brought European shipbuilders to Russia. We will write a custom essay sample on Russian History or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Then in 1696, with a new fleet, he was able to capture Azov, the chief Turkish fortress on the Sea of Azov. As Captain Peter Alekseevich, he commanded from the Principium – a ship built by his own hand. In 1700, he felt ready to attack Sweden. With Poland and Denmark as allies, he started the Great Northern War, which lasted until 1721. Peter defeated the Swedes and gained an outlet to the Baltic Sea. The Treaty of Nystad (1721) ended the war and gave Russia the prized Swedish provinces on the eastern shores of the Baltic Sea. Sweden became a second-rate military power, and Poland was reduced in status. As a result of the victory, the Russian Empire was formed on October 22, 1721. On that day Peter was acclaimed Father of the Fatherland, Peter the Great, and emperor of all the Russia’s, by the Russian Senate, in gratitude for victory in the war. Internal Affairs Peter was organizing and modernizing his country internally as well as externally. He was ruthless when he ruled Russia as he was so determined for his country to be recognised. He forced his subjects to conform to his ideas, founded a navy, introduced factories, and organized a modern army. He also created a new Russian capital, St Petersburg. In 1703, Peter began construction a fortress on territory that he had won – which became the new capital city of St Petersburg – and moved his imperial court there in 1712. In order to populate St Petersburg, Peter forced all upper-class Russians to move there. One problem was that the country had no proper means of transportation. What roads there were only ran east to west, and even then, they were difficult to traverse, especially during the Russian winter. Peter westernized his subjects by using taxation and implementing new laws. Some examples are: †¢He put a high tax on beards and Oriental dress to force the people to adopt Western dress. †¢He modernized the calendar, simplified the alphabet, unified the currency, and introduced universal taxation