Risky aspects of the economic growth of China Essay

Risky aspects of the economic growth of China - Essay Example The corporate debt in China has increased from 108 per cent to 122 per cent in the one year from 2011 to 2012, and has achieved its highest level in the last 15 years (Roberts). As a result of this, China has become the most debt-laden country in the world. Andrew Batson, the GK Dragonomics Research Director comments on the effect of debt crisis on companies operating in China in these words, â€Å"Companies have seen their business slowing down and revenues were not what they had expected. They have bridged the gap by taking on more debt† (Batson cited in Roberts). A researcher from the State Council’s National Development and Research Center, Li Zuojun made a speech on 17 September 2011. This speech made at the Changsha Alumni Organization of Huazhong University of Science and Technology’s internal meeting spread virally over the Internet. A post over the largest social media website of China Weibo got forwarded over 9000 times (Zitan). Mainland media portals l ike Sina and Sohu also widely reported this information. Li Zuojun noted that banks, local governments, and small and medium-sized companies in China are undergoing bankruptcies that serve as the signs of economic crisis nationwide. In his speech, Li presented four reasons for predicting China as the next stop for financial crisis. Those reasons are economic, hot money, political, and cycles (Zitan). Risky aspects of the economic growth of China Economic The two main causes of the possibility of occurrence of financial crisis in China are the worsening local debt crises and the bursting bubble of real estate. According to Li, the overall economic downturn in China has exposed the small and medium sized companies to financial challenges that have played an important role in reducing the commercial and industrial tax revenues. Local governments in China have suffered from the reduction of revenues because of the depression in the industry of real estate. Local governments in China hav e immense are bearing the pressure of spending more over a whole range of items that include but are not limited to local infrastructure, national defense, social insurance policies, construction of houses, maintaining social stability, and improvement of the hydraulic structures. However, as the local debts are maturing, local governments are facing even more pressure and are being forced into bankruptcy. In the long run, this would cause the banks to declare bankruptcy and eventually, Chinese citizens would have to bear the burden of the debt. Therefore, Li foresees a full-blown economic crisis. Hot money Although China’s economy is slowing down, the US is undergoing an economic recovery at the same time. This is contributing to the flow of large sums of the international hot money out of China. As a result of this, economic implosion is taking place in China. Political New leaders in China have risen as a result of the leadership transition of the year 2013. The priorities of most of the new leaders are not addressing economic woes of China. It takes anywhere between three and five months for a new leader to expose the past problems after taking charge. Li estimated the mid of the year 2013 to be the most probable recognition of the economic collapse of China. â€Å"Following the economic bubble bursting, there will be a subsequent period of suffering. But for the new leaders, this is nothing bad, since they are not to blame for the suffering†¦With the economic bubble bursting, the new leadership can adopt practical approaches. †¦ New political achievements will be gained more easily, since the starting point is comparatively low†

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In spite of their many wars and conflicts, China and Japan share a cultural tie that has bridged over the centuries. In the post-Cold War period, China and Japan have become major trading partners and their economies are now interdependent of each other. Nevertheless tensions between the two sides today over islets in the East China Sea are showing no signs of abating. The situation over ownership of the territories is so tense that some fear an outbreak of war. It is a wonder why this territorial dispute flared up so suddenly over the past few years. If the conflict between Sino-Japanese relations is ultimately over fishing rights and natural resources, then tensions over the islands should have risen four decades ago. The territorial dispute is so complex that there is no easy solution to this incendiary situation. What is clear, though, is that avoiding further confrontation, and urging for more effective communication at all levels of society is crucial. There is no doubt that China and Japan mistrust each other’s intentions and expect the other to be plotting against them. Both countries view themselves as the victim and the other as the aggressor. For the Chinese, the patriotic education emphasized after the early 1990s has had its intended effect as nationalist sentiments rose. China’s rise in the global scene has also contributed to this nationalist surge. Furthermore, it is difficult to counteract that most people are not that nationalistic because China is not a democratic country. The Chinese government has periodically used anti-Japanese sentiment and has revealed that the government allows anti-Japan demonstrations to take place but not demonstrations for other reasons. The government also seeks actively to shape the... ...dia coverage that exaggerates the most violent moments in the anti-Japanese protests in China. Moreover, governments and civil society organizations on both sides should actively support joint history research and incorporate not only one country’s views of historical events and their understanding, but also other relevant actors’ perceptions appropriately in their textbooks to cultivate coexistence and reconciliation. The Senkaku/Diaoyu dispute is a complex issue that has put security in East Asia at risk. Despite the rising tensions over political and security relations, there is still room for greater economic cooperation. If both countries see each other as a companion for their common needs and share passion of prosperity and peace, then these two nations can expect a miracle of peace and development not only politically and economically, but socially as well.

Anti-Trust

The law was broken when the group of anesthesiologists banded together to drive out any form of competition, which resulted in the failure of Mr†¦ Alto's business. Initially the organization of anesthesiologist from SST. Peters Community Hospital agreed to a settlement of $462,500. The trial Judge deemed the award from the Jury was excessive and ordered a new trial. The conclusions of the new trial were, the damages incurred were not the hospital's responsibility due to lack of evidence and the settlement from the physicians was sufficient (Bazaar 2012).Exclusive Contracts Hospitals routinely enter Into contracts with various professional groups for the sight to be the exclusive provider of their specific services at the facility In exchange for the group agreeing to provide and manage all aspects of that service wealth the hospital. These â€Å"exclusive contracts† generally result In the chosen medical department and associated equipment being closed off to physicians w ho are not part of the contracting group. Exclusive contracts are generally considered to be good for most doctors who participate in the groups and bad for those excluded by them.In fact, while exclusive contracts offer obvious benefits to the physicians who receive he perks from the contracts and obvious disadvantages for those who are excluded, they also present pitfalls for physicians in the chosen group. The included doctors are somewhat slaves to the groups and will be kicked out of the groups if the physician does not comply with the rules and regulations of the contract. Exclusive contracts are agreements that initially appear to be anta-competitive on face value; multiple courts have rejected anti-trust challenges to exclusive contracts creating an unfair advantage, which reduces competition.Physicians and nurses that have been excluded because of exclusive contracts have had much greater success in attacking exclusive contracting arrangements on the premise of breach of co ntract and lack of procedural process grounds. In order to prove there has been a violation of anti-trust and elimination of competition within a work environment such as a hospital. Typically exclusive contracts are built to keep outside providers from competing with the physicians who are already employed at the hospital or medical treatment facility. In rare cases like the Alto v.SST Pewter's Community Hospital case, the nurse anesthetist was already contracted with the facility and performed similar procedures as the anesthesiologists except for a cheaper rate (Bazaar 2012). The hospital administration should have analyzed the formation of the group odd providers and recognized what the Intentions were. Remedies to Breach Arbitration of breaches In anta-trust laws were frowned upon years ago when anta- trust laws were first set into place. Arbitration is a relatively fast way to arrive upon a being flexible and not as formal as a traditional courthouse.Usually, arbitration can b e scheduled quicker and with less working parts than a trial. In rare instances, if all parties involved come to an agreement, arbitrators can sometimes create rulings that judges are not allowed to decide. In arbitration, both sides present all evidence to an arbitrator in efforts to prove each side's case. The arbitrator reaches a final verdict and decides whom the winners and losers are. An arbitrator does the Job that a traditional Judge or Jury would normally do in court if the matter escalated to that point (Hill 2014).Summary Judgment is another remedy to handling the decision process in the event of a suspected anti-trust law breach. Summary Judgment is a decision entered by a court on behalf of one party that was in disagreement with another party, without the length and expense of a full trial. The idea of the summary judgment process is to remove the need to argue agreed upon facts and to decide without trial one or more causes of action in the complaint. The presenting a nd pleading procedures are extremely technical and complicated. This process is fairly dangerous to the party that the decision is being made against (Hill 2014).Conclusion In this scenario, the groups of anesthesiologists were guilty of violating anti-trust saws with the internal contract that was created to eliminate competition from outside vendors for delivery of care. Anti-trust laws were created top prevent larger companies and organizations from pushing smaller entities out of the ability to fairy compete for business. Mr†¦ Alto received a settlement from the hospital initially but was later unable to recoup legal fees and damages from the hospital once the trial judge ruled the damages were excessive.

Rasmussen Surname Meaning and Family History

Rasmussen is a patronymic surname meaning son of Rasmus, a Scandinavian form of the personal name Erasmus. Erasmus derives from the Greek ÃŽ µÃ ÃŽ ±ÃÆ'ÃŽ ¼ÃŽ ¹ÃŽ ¿Ãâ€šÃ‚  (erasmios) which means beloved.   Spellings of Rasmussen that end in -sen are most likely Danish or Norwegian in origin, while those that end in -son could be Swedish, Dutch, North German, or Norwegian. Rasmussen is the 9th most popular surname in Denmark  and the 41st most common last name in Norway. Surname Origin:  Danish, Norwegian, North German, Dutch Alternate Surname Spellings: RASMUSEN, RASMUSON, RASMUSSON, RASMUS   Famous People with the Surname RASMUSSEN: Saint Erasmus (Saint Elmo) - 4th-century martyr and patron saint of sailors.Theodore Rasmussen - Canadian neurosurgeon and scientist who gave his name to the rare disease, Rasmussens encephalitis.  Knud Rasmussen - Greenlandic anthropologist and polar explorer; the first European to cross the Northwest Passage via dog sledScott Rasmussen - co-founder of the sports television network ESPNLars and Jens Rasmussen - brothers and creators of Google Maps Where is the RASMUSSEN Surname Most Common? Considering its Scandinavian origins, its not surprising that Rasmussen is most prevalent today in Denmark, where it ranks as the 8th most common surname in the country. Surname distribution data from Forebears also identifies the surnames popularity in Norway, where it ranks 41st, as well as the Faroe Islands (12th) and Greenland (10th). WorldNames PublicProfiler also indicates that Rasmussen is by far most commonly used by people living in Denmark. Norway comes in a distant second. Within Denmark, the surname is found most frequently in Fyn and Stà ¸rstrom, followed by Aarhus, Vestsjà ¦lland, Vejle, Roskilde, Frederiksborg, Kà ¸benhavn, Bornholm and Staden Kà ¸benhavn. Genealogy Resources for the Surname RASMUSSEN Rasmussen Family Crest - Its Not What You Think: Contrary to what you may hear, there is no such thing as a Rasmussen family crest or coat of arms for the Rasmussen surname.  Coats of arms are granted to individuals, not families, and may rightfully be used only by the uninterrupted male-line descendants of the person to whom the coat of arms was originally granted.Rasmussen DNA Project: Rasmussen is a Scandinavian patronymic surname, meaning that your DNA matches will not necessarily (or likely) even be people named Rasmussen. This project will help you determine which Scandinavian and/or haplogroup projects are best to join for research into your Rasmussen heritage.RASMUSSEN Family Genealogy Forum: This free message board is focused on descendants of Rasmussen  ancestors around the world. Search the forum for posts about your Rasmussen ancestors, or join the forum and post your own queries.  FamilySearch - RASMUSSEN  Genealogy: Explore over 1.5  million  results from di gitized  historical records and lineage-linked family trees related to the Rasmussen surname on this free website hosted by the Church of Jesus Christ of Latter-day Saints.RASMUSSEN Surname Mailing List: Free mailing list for researchers of the Rasmussen surname and its variations includes subscription details and searchable archives of past messages.GeneaNet - Rasmussen Records: GeneaNet includes archival records, family trees, and other resources for individuals with the Rasmussen surname, with a concentration on records and families from France and other European countries.The Rasmussen Genealogy and Family Tree Page: Browse genealogy records and links to genealogical and historical records for individuals with the Rasmussen surname from the website of Genealogy Today.Ancestry.com: Rasmussen Surname: Explore over 1.4  million digitized records and database entries, including census records, passenger lists, military records, land deeds, probates, wills and other records for t he Rasmussen surname on the subscription-based website, Ancestry.com.