Mexico’s Economical Crisis, Facts and Remedies

Mexico is the most advanced and developed nation in the Latin America, with a population over 96 million and per capita income about $3970 USD, it’s income ranges to the upper middle class in the Latin America. During the 60s and 70s the GDP grew by 3.5% annually, but then the crisis of 80s completely reversed the process and the whole Mexican economy went upside down followed by the 90s crisis which pushed back the GNP of the country to the 50’s level. In this paper we will discus the GDP increase and decrease of the Mexican economy facts of the crisis of 80s and 90s and GNP exchange crisis and inflation, debating about the factors involving in the crisis and discussion the ways the problem could be solved and presenting some suggestions about it.Sudden Collapse in GDP Growth; Why?As discussed in the introduction the data shows that during the seventh and eighth decade of the last century the GDP growth of Mexico showed a mean 3.5% annually growth, but after the 84 cri sis the GDP growth shrank to 0.5%. This sudden collapse has aroused suspicions about the credibility of the Mexican claim of 3.5% GDP growth annually. GDP does not measure output reliably because it includes not only the final output produced by an economy’s market, but also transactional activities, which are intermediate to production. (Wallis and North 1986; North 1987) Governments spend a large amount of money on National Defense, Justice, Social Reforms and enforcing regulations.The transactional activities regarding these issues are intermediary in nature but are included in the standard computation of GDP. During the last three decades preceding the 84 crisis transactional activities have varied. Due the change in the structure of the nation’s economy i.e. the traditional agriculture trends declined and the share of manufacturing and services in the economy increased, as well as the economic interdependence.Government’s change in policies effected the tra nsactional cost while the decreased in oil prices enhanced the process resulting the indebtedness of the government which compelled her later to take high interest loans, thus increasing inflation and the currency exchange rate became unstable . These all circumstances blew every thing out and Mexican economy was completely crushed resulting in sudden downfall of GDP.GNP Downfall in the 90s:In 1994 the GNP of the country fell down to its historical low as a result per capita income fell to the level of 50s and the plague of poverty spread all over the country leaving no one undisturbed. The main causes of this turbulence as analyzed by the economists were the demographic, environmental changes as well as the changing in the global scenario and also the emergence of NAFTA as most of the foreign investment was invested in the stock market and short term bond but all these devalued thus crushing down the peso.The increasing poverty and the deteriorating environment as well as the incre asing inflation pressurized the already decomposed economy thus the weak currency faced a sudden downfall and the rate of exchange become intolerably unstable. The monetary market was panicked by the falling currency and soon every investor threw away the Mexican currency. The GNP fell rapidly and Mexico again fell in the darkness of high interest debts, inflation and poverty.What are the Rectifications?What Mexico needed after these sudden shocks complete is overhauling of the economy by making it free from old and conservative rules and regulations. The government should continue the process of the privatization of state owned enterprises, especially the ejido (Community Land Owned by the Government). The Federal Labor Law also needs some thorough reforms. While the most important thing to do is the clear and of the Assets of Petroleos Mexicanos (PEMEX) what ever it is deemed by the Mexican Government as a Mexican Sovereignty or not.A Promotion and Reconstruction bank should be cr eated with the initial capital as $150 billion dollars, and also the board of directors should be select among the professional and honest persons. Businesses should issue bonds of their debt for 30 years. Income tax should be reduced immediately to 20%. The government should negotiate with the United States and Canada to obliterate the taxes and tariff between the three governments thus creating a free trade market. (Valenzuela, 1999)Conclusion:To recover from the shocks of the turbulences and achieve a sustainable growth process the Mexican Government have to make radical changes in the economy and has to redesign it in a more appropriate way that the economy becomes adaptable to the modern economic circumstances.Reference:Marco Espinosa, Steven Russell, The Mexican economic crisis: alternative views, http://www.frbatlanta.org/frbatlanta/filelegacydocs/Espin811.pdfRicardo Valenzuela, 1999. A Prescription for Dealing with Mexico's Economic Crisis,   http://www.westga.edu/~bquest/ 1999/prescrip.htmlRobert A. Blecker, NAFTA, the Peso Crisis, and the Contradictions of the Mexican Economic Growth Strategy,http://www.newschool.edu/cepa/papers/archive/cepa0103.pdfWallis, J. J, D.C. North. 1986. Measuring the transaction sector in the American economy, 1870-1970. In Long-term factors in American economic growth, edited by S.L. Engerman and R. E. Gallman. Chicago: University of Chicago Press, pp. 95-161.Deirdre Griswold, 1995 Oil, debt and Mexico's national sovereignty, In Workers World. http://www.hartford-hwp.com/archives/46/026.html

Human Morality Essay

A common question throughout history has always been about human morality. Because of our higher thinking capacity, we are hardwired to adapt and refine our basic instincts to survive; therefore, it is obvious this question would be disputed throughout time. Are humans innately good, bad, or plainly neutral? The position that any one person takes may be derived from any number of ideas, be them philosophical thoughts or scientific inquiries. This essay asserts that morality is innate, and uses both scientific studies and ideas from philosophers to support this argument. Man is essentially good, and the different ways people are nurtured—from societal influences to parental influences—creates the large spectrum and variety of behavior that may not be deemed â€Å"good† or â€Å"moral. † The magazine Smithsonian published an article named â€Å"Born to Be Mild† in January of 2013 on morality in young children. This article wrote about a few different studies done on children by three different experimenters. In one of the studies titled â€Å"Spontaneous Altruism by Chimpanzees and Young Children,† Felix Warneken tested the morality of humans through young babies (because they have had little to no socialization) and also tested morality of chimpanzees, the closest relative to humans. In this study, 18-month-old toddlers were tested to see if they would help others in need by retrieving a dropped item that an adult struggled for. In almost all instances, the child returned the item. Warneken stated, â€Å"[Helping at that age] is not something that’s been trained, and [the children] come to help without prompting or without being rewarded† (Tucker 39). Not only did the toddlers help people in need, they also helped without social cues (such as the distress someone in need has). Many toddlers in the experiment Warneken created helped retrieve a can that had fallen off a table next to an adult and the adult failed to realize something was amiss. When Warneken tested the chimpanzees to see if they would return the same answers, he tested chimpanzees that were nursery-raised and semi-wild chimps. Both tests displayed the same results as the tests on the toddlers—chimpanzees were willing to help both humans and other chimps in need with no reward for themselves (Tucker 39-41). The fact that most of the toddlers and human relatives, the chimpanzees, helped others in need both with and without social cues strongly points to the idea that human morality is innate. A second study highlighted in the Smithsonian article was a reproduction of a previous study from the mid-2000s. The original study was an animated presentation shown to six to ten month old babies in one group and three month old babies in a second. The animated presentation consisted of a red circle attempted to climb a hill. In one instance, a triangle helped the circle climb, and in another, a square knocked the circle down. When the square and triangle were presented to the older group of babies, almost all babies chose the helping triangle over the hindering square. For the younger group, the researchers tracked the eye movement of the babies to either the triangle or square, because the babies could not physically grab the object. In the reproduction, done by another experimenter, the results were the same. Once again, evidence suggests that because babies seem so morally good, humans are innately good, and it is the nurture we receive as we are socialized into this culture that may cause some people to seem morally corrupt (Tucker 38-39). It should be noted that because the reproduction provided the same results as the original study, an even stronger case was created for the idea of innate human morality. The messages that Machiavelli gives in â€Å"The Qualities of the Prince† may cause one to believe that humans are innately evil because through â€Å"The Qualities of the Prince,† Machiavelli details how to be cunning, take control, and maintain control as a ruler of a province. His teachings seem to create humans as greedy people, hungry for more. This is actually very incorrect. Machiavelli clearly states, â€Å"it is necessary for a prince†¦to learn how to not be good† (42). I emphasize that Machiavelli wrote a man must learn to not be good. One can assume from this that Machiavelli is saying man is at least in some degree, wholesome and moral. After all, humans were never meant to civilize and evolve. We are, in true form, animals that have an instinct to survive. Ruling and gaining power is a man-made idea. Opponents to the idea that humans are moral might suggest that if ruling is man-made, evil is already within us because we created the concept of ruling others; however, if man were truly evil, he would not take murder as a heavy offense, and would kill others in his way to get what he wants instead of just gaining control. The examples of rulers that Machiavelli writes help to reiterate this point. These men were not born thinking of war and control. They were raised and socialized to lead and gain power. Steinbeck and the messages he delivers in The Grapes of Wrath also point to the idea that human morality is innate. The author often writes of the distinct line of those with, and those without—in other words, the owners and the migrants or farmers. Steinbeck makes a point to write about how close-knit the migrants are in many instances. Steinbeck writes â€Å"‘I lost my land’ is changed†¦[to] ‘We lost our land. ’,† ‘I have a little food’ plus ‘I have none’†¦. is ‘We have a little food’† (151); â€Å"the twenty families became one family† (193); and â€Å"when a baby dies a pile of silver coins grew at the door flap† (195). All of these quotes show the goodness in others, to do something for someone in need. This is all in contrast to the owners, which on multiple different pages Steinbeck writes how disconnected they are from the land, and â€Å"the quality of owning freezes you forever into ‘I’† (Steinbeck 152). These owners are so encompassed by the material culture around them, by the greed and the blanketed reality that they cannot see with a moral compass anymore. Of course they have one, for at one point they might have been like the farmers, caring for others and instituted into the â€Å"we† group. Proponents for human neutrality might argue that the owners were never at any point good, that they were neutral and socialized into the owning culture, unlike the farming culture. This is not the case, however, through a passage that Steinbeck wrote very early in The Grapes of Wrath, which said, â€Å"Some of the owner men were kind because they hated what they had to do, and some of them were angry because they hated to be cruel, and some of them were cold because they had long ago found that one could not be an owner unless one were cold† (31). This insinuates that in all types of owners, there is a moral compass. Even in the coldest owners, deep within them, they acknowledge the idea that the work they do is wrong. Because the owners know what is wrong, they know the opposite as well—what is right. If the owners were not innately good, their views on what is right or wrong would be skewed by their societal influences. While people will never give up the argument of human morality, it is a safe bet to argue that humans are innately good. We possess the ability to help spontaneously and without reward, as shown in the scientific studies, and we understand what is right and wrong. Our societal influences and the way we were raised affects if we will channel our morality or go against it, as shown by Machiavelli in â€Å"The Qualities of the Prince† and by Steinbeck in The Grapes of Wrath. Works Cited Machiavelli, Niccolo. â€Å"The Qualities of the Prince. † A World of Ideas. Ed. Lee Jacobus. 8th e. Boston: Bedford, 2010. Print. Steinbeck, John. The Grapes of Wrath. New York: Penguin, 1939. Print. Tucker, Abigail. â€Å"Born to Be Mild. † Smithsonian Jan. 2013: 35-41, 76-77. Print.

Jp Morgan& Chase Annual Report

JPMorgan and Chase 2011 Financial Analysis Abbiton Mumba , Bomboma Douti, Thuy Doan, Tracy Nguyen [Type the company address] General Information: JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States with a history dating back over 200 years. JPMorgan and Chase is basically included Chase- the U. S. consumer and commercial banking businesses serve customers under the Chase brand. The consumer businesses include: Branch, ATM, telephone and  online banking, Credit cards, Small business, Home finance and  home equity loans, Auto finance, Education finance, Retirement & Investing, Retail Checking.The commercial banking businesses include: Middle Market, Corporate Client Banking, Commercial Real Estate, Business Credit, Equipment Finance, Commercial Term Lending, Community Development. – and JPMorgan which is J. P. Morgan clients include the world's most prominent corporations, governments, wealthy individuals and institutional investors. T hese businesses use the  J. P. Morgan brand: Investment Bank, Asset Management, Treasury Services, Worldwide Securities Services, Private Banking, Private Client Services, One Equity Partners.The corporate headquarters are in  270 Park Avenue,  Midtown,  Manhattan, New York City, New York, and the  retail  and  commercial bank  is headquartered in  Chase Tower,  Chicago Loop,  Chicago, Illinois, United States. The biggest event recently that JPMorgan anticipating in is acquisition of Washington Mutual in 2008. JPMorgan Chase raised $10  billion in a stock sale to cover write-downs and losses after taking on deposits and branches of Washington Mutual  Through the acquisition, JPMorgan now owns the former accounts of  Providian Financial, a credit card issuer Washington Mutual acquired in 2005.The company announced plans to complete the rebranding of Washington Mutual branches to Chase by late 2009. JPMorgan and Chase has the fiscal year end Dec 31. Interne t Information: The internet address of the corporation is www. jpmorgan. com. The website provides broad information. The most important section is the â€Å"Investor relation† section. We can find Financial Information including annual report/ proxy statements, SEC filing, earning release, credit releases, Investor presentations , shareholder information including stock price history.The purpose of website is describe the corporation, provide customer service information, promote the industry the corporate in, provide employment information, publicize corporate citizenship. The annual reports and other different reports can be found in the government website www. sec. gov. The primary Standard Classification (SIC) is 6021 6029 6712 and the Central Index Key (CIK) number assigned to corporations that file with the SEC is 19617. The latest form 10-K is dated February, 29th, 2012. Basically, JPMorgan and Chase have a moderate change in the price of the common stock over the las t two years.The biggest downward slope is between September 2011 to December 2011 and then it continues to be upward sloping. This fall price considers a narrow price range. Income Statement Compared to last year, Revenue growth decreased by -5. 3168%. A decreased of $5,460,000,000. The decline in net revenue from 2010 was driven by lower net interest income, securities gains, mortgage fees related income, and principal transactions revenue, partially offset by higher asset management, administration and commission revenue and higher other income.The increase in noninterest expense was driven largely by higher compensation expense, reflecting increased headcount. Despite the fact that the revenue lost than last year, over the last 5 year the company experienced the increased revenue due to net inflows to products with higher margins, higher deposit and loan balances, and the effect of higher average market levels. Growth in Revenue decreases than last year but Growth in profit incre ases by 9. 2458%. Although the Net Revenue of the current year is less than last year but Pre-provision profit on 2010 decreases from $16,639,000,000 to $7,574,000,000.That reason makes Growth in profit during the current year increased by 9. 2458%. Common-size Analysis: | Current Year| Previous Year| Revenue| 100%| 100%| Non-interest Expense| 64. 70%| 59. 59%| Interest Expense| 13. 99%| 12. 45%| Income Tax Expense| 7. 99%| 7. 29%| Income from continuing operations| 27. 51%| 24. 21%| Net Income| 19. 52%| 16. 91%| In general chase’s total non-interest expenses in 2011 rose 5. 11% higher than the total non-interest expense in 2010. The net income in 2010 seems lower than 2011 due to less operating and investment activities in 2010.Apart the item labeled other expenses and amortization of intangibles; all the other expenses were slightly higher. The increase in non-interest expense was driven largely by higher compensation expense reflecting headcount. The operating cost as part of the non-interest expense was definitely higher compared to 2010. The higher headcount visibly explains this increase. The provision for credit lost was 8. 41% lower than the 2010 provision. This was due to the amelioration of collection from customers. Consumer business modestly improved and mortgage net charge-offs and delinquencies improved.It is probably included in the item â€Å"other expenses† which were lower than 2010 but 6. 38% higher than 2009. Tax Burden: The total revenue in 2011 was 5. 62% lower than the revenue in 2011 but the bottom line was a lot higher than the previous year (2. 61%). The tax burden became consequently higher than the previous year; actually about 0. 7%. The increase in the tax burden due to the higher income in 2011 was definitely the result of the lower provision in credit loss in 2011. The provision in 2010 was about twice the provision in 2011, because of the lower interest revenue.Profitability in 2011 was better than the one in 2010 . As a percentage of total revenue, net income was 2. 61% higher than the one in 2010. Net income in 2011 was by itself 9. 2 % higher than the one in 2010. This was again the result of the lower provision for credit losses. The consumer portfolio also improved. The decline in 2010 was driven by lower net interest income, security gains, mortgage fees and related income. The other-than-temporary impairment losses are included in securities gains for the periods presented was $27million in 2011 and $94 million in 2010. Balance sheet JPMorgan Chase ; Co. s one of the oldest, largest and best-known financial institutions in the world. The firm's legacy dates back to 1799 and operates in more than 50 countries. JPMorgan and Chase is proved to be a mature firm with higher capital and liquidity. The Total Assets on the balance sheet grew $148,187 million, year ending Dec 31, 2011 from previous year ending Dec 31 2010 representing a percentage of 0. 07. The change in Assets were partly due to the acquisition of RBS Sempra on July 1, 2010 and the transaction in 2011 of RBS Sempra which is a commodities’ global oil, global metals and European power and gas businesses.This acquisition almost doubled the number of clients the firm’s commodities’ business can serve and has enabled the firm to offer clients more products in more regions of the world. J. P Morgan Chase completed purchase of the remaining interest in High bridge, which resulted in $228 million Capital surplus. Missing Common size analysis Cash Flow Statement: The cash flows resulting from operation activities in 2010 and 2011 were -$3752 million and $95,932 million. The cash flow resulting from investing activities in 2010 and 2011 was $54,002 million and -$170,752.The cash flow resulting from financing activities in 2010 and 2011was -$49,217 million and $107,706 million. There was a significant increasing in cash $ 32,035 in 2011 and a little $1,361 million in 2010. The beginning in cash balance was $27,567 million and $26,206 million respectively in 2011 and 2010. The ending cash balance in 2011 and 2010 were $59,602 million and $27,567 million. There were three significant sources of cash which were from a hug number of net change in deposit, proceeds from long-term borrowings and trust preferred capital debt securities and from net earnings and sell securities.The three most significant uses of cash were taken from acquisition of businesses or dispositions, purchase securities and loans out and proceed from sales, securitizations and pay downs of loans held-for-sale and net change in trading assets. Based on a comparison of the income statement to the statement of the cash flows, depreciation and amortization in intangible was add back to statement of cash flow and other-than-temporary impairment losses are included in securities gains for the periods presented, caused the greatest differences net income ( loss) and the cash flow from operation. Statement of cha nges in Stockholders’ Equity:The number of common shares outstanding has decreased over 3 years. On March 18, 2011, the Board of Directors approved a $15. 0 billion common equity (i. e. , common stock and warrants) repurchase program, of which $8. 95 billion was authorized for repurchase in 2011. The $15. 0 billion repurchase program superseded a $10. 0 billion repurchase program approved in 2007. During 2011 and 2010, the Firm repurchased (on a trade-date basis) an aggregate of 240 million and 78 million shares of common stock and warrants, for $8. 95 billion and $3. 0 billion, at an average price per unit of $37. 35 and $38. 9, respectively. The Firm did not repurchase any of the warrants during 2010, and did not repurchase any shares of its common stock or warrants during 2009. As of December  31, 2011, approximately 408 million unissued shares of common stock were reserved for issuance under various employee incentive, compensation, option and stock purchase plans, dire ctor compensation plans, and the warrants sold by the U. S. Treasury. Retained Earnings: fixed Dec 31 2011 Dec 31 2010 Beginning Retained earnings (2008) $54,013,000,000 Net Income $944. 00, 000 $1,001,000,000 Ending Retained Earnings $88,315,000,000 $73,998,000,000 From the number above we can conclude that Retained earnings increased in 2008 to $88,315,000,000 from $73,998,000,000 in 2010. Notes and supporting schedules to the financial statements. Cash and cash equivalents: the corporation define their cash equivalents by fund invested in US, T-bills, money market account, demand deposits or small-denomination time deposit and other investment with a maturity of 3 months or less when purchase.Account receivable: The corporation has the gross Account Receivable of $89,087 million current year and $102,413 million in 2010 reflects to 30. 9% and 31. 5% percentage of uncollectible. The lower the ratio the better, JPMorgan and Chase’s percentage uncollectible for 2011 is slight ly better than 2010. The results of the receivable turnover in 2011 and 2010 were 1. 48 times and 2. 69 times respectively. The higher the turnover is the better. However, the current year 2011 is lower than the previous year 2010.This is the result of the higher revenue in 2010. Inventories: N/A Property and Depreciation: The Corporation classified its property, plant and equipment into five categories: land, buildings, leasehold improvements, furniture and fixtures, hardware and software. JPMorgan Chase computes depreciation using the straight-line method over the estimated useful life of an asset. For leasehold improvements, the Firm uses the straight-line method computed over the lesser of the remaining term of the leased facility or the estimated useful life of the leased asset.None of the assets were recognized as impaired during the current year. The Accumulated Depreciation increased from $13,355,000,000 of last year to $14,041,000,000 of current year. Despite the land or co nstruction in progress, percentage of Fixed Asset Depreciation was approximately 23. 17% last year and 23. 26 % this year. For the percentage of fixed asset depreciation do not included land and construction in progress, there is slightly increased from last year to this year. The increase in premise and equipment was predominantly due to renovation of J.P Morgan Chase’s headquarters in New York City, the purchase of a building in London, retail branch expansion in the US, and investment in technology hardware and software, as well as other equipment. The increase was particularly offset by depreciation and amortization. This implies that in the future the company will spend more money on replacing the old equipment and that means it impacts on the capital expenditure on their financial statement. However, the company applies on the fixed asset turnover to generate revenue. The ratios are 7. 50 times last year and 7. 0 this year Operating and Capitalized leases: JP Morgan Cha se hasn’t declared any capitalized leases in the 2011 10K. We do have a section devoted to operating leases. Obligation associated with operating leases in 2011was $2,228 million, and expense associated with operating leases in the current year is $1,825 million. Payment for operating leases next year is $1,753 million. Long term debt: JPMorgan Chase issues long-term debt denominated in various currencies, although predominantly U. S. dollars, with both fixed and variable interest rates.Included in senior and subordinated debt below are various equity-linked or other indexed instruments, which the Firm has elected to measure at fair value. Changes in fair value are recorded in principal transactions revenue in the Consolidated Statements of Income. The following table is a summary of long-term debt carrying values (including unamortized original issue discount, valuation adjustments and fair value adjustments, where applicable) by remaining contractual maturity as of December 31, 2011. Most debts were JPMorgan Chase Capital.The five largest debt were JPMorgan Chase Capital X $1,016 million in amount with the rate of 7%, JPMorgan Chase Capital XXV $2,292 million in amount with the rate of 6. 8% rate, JPMorgan Chase Capitals XXVI $1,815 million in amount with the rate of 8. 0% , JPMorgan Chase Capitals XXVIII $1,500 million in amount with the rate of 7. 2%, JPMorgan Chase Capitals XXIX $1,500 million in amount with the rate of 6. 7%. Those debts aren’t due until next 30 years. JPMorgan and Chase don’t have any significant debt payment outstanding.Pension Plans: JPMorgan and Chase recognize in its statement of financial position the funded status of a benefit plan; measure defined benefit plan assets and obligations as of the end of the employer’s fiscal year (with limited exceptions) and recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise but are not rec ognized as components of net periodic benefit costs pursuant to prior existing guidance. JPMorgan and Chase don’t have Defined Contribution Pension expense but Defined Benefit Pension with the expense of 11,808 billion.Defined benefit obligation in the current year: $13461 millions for U. S and Non U. S plans. Fair value of the retirement plan assets at the end of the current year: At December 31, 2011 defined benefit pension plan amounts not measured at fair value included $50 million. At the end of December 2011, the accumulated defined benefit pension obligation had a balance of ($9,008) million, but in my opinion, the plan is well funded. At December 2011, the plan was said to have 2. 6 billion balance overfunded. It is clearly stated in the notes that by December 31st 2011, the U. K plan was $33 million unfunded.Amount recognized on the balance sheet related to pension: $ 1,429 million funded in the U. S, and a non-U. S balance of 160 million. The amount contributed to t he defined benefit pension plan in 2011 was 37 million for the U. S and 169 million for the Non-US. $540 million were paid to retirees in the U. S whereas 93million were paid to non U. S in 2011. Investments in the defined benefit pension fund are the Firm’s U. S. defined benefit pension plan assets are held in trust and are invested in a well-diversified portfolio of equity and fixed income securities, real estate, cash and cash equivalents, and alternative investments (e. . , hedge funds, private equity, real estate and real assets). Non-U. S. defined benefit pension plan assets are held in various trusts and are also invested in well-diversified portfolios of equity, fixed income and other securities. Assets of the Firm’s COLI policies, which are used to partially fund the U. S. OPEB plan, are held in separate accounts with an insurance company and are invested in equity and fixed income index funds. The investment policy for the Firm’s U. S. efined benefit p ension plan assets is to optimize the risk-return relationship as appropriate to the needs and goals using a global portfolio of various asset classes diversified by market segment, economic sector, and issuer. Assets are managed by a combination of internal and external investment managers. Periodically the Firm performs a comprehensive analysis on the U. S. defined benefit pension plan asset allocations, incorporating projected asset and liability data, which focuses on the short-and long-term impact of the asset allocation on cumulative pension expense, economic cost, present value of contributions and funded status.Postretirement Benefits other than Pensions: there is no expense associated with non-pension post-retirement benefit. Benefits obligation for the non-pension post-retirement benefit plan was $999 million in 2011. Fair market value of assets held for non-pension post-retirement benefits plan was 1,435 million in 2011. The plan is adequately funded. The fair market valu e of the post-retirement benefit plan has enough resources to operate. Amount recognized on the balance sheet related to the non-pension post-retirement plan was $436 million.Amount contributed to non-pension post retirement benefits during the current year is $2 million, and amount of non-pension post retirement benefits paid to retirees during the current year is $26 million. Income Taxes: The income tax expense for the current year in the income statement is $7,773 million and $1,693 million of the current year’s income tax expense has been deferred to future periods. The effective tax rate for current year is 29. 1%. There are two types of Income taxes disclosed on the notes: Gross deferred tax asset is $27,632 million and Gross deferred tax liability is $12,856 million.As the results, the Net deferred tax amount is $14,776 million. The significant activities resulted in recognition of deferred tax liabilities that are not yet due to a tax authority are depreciation and a mortization, leasing transactions, non-US transaction and others. On other hand, the significant activities led to the recognition of deferred tax assets will be utilized in the future are allowance for loan losses, employee benefits, accrued expenses and others, non-US operations, tax attribute carry forwards. Stock-Based Compensation: MISSING Segmental and Geographic Information: JPMorgan Chase & Co. JPMorgan Chase) is a financial holding company. The Company is a global financial services firm and a banking institution in the United States, with global operations. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. JPMorgan Chase’s principal bank subsidiaries are JPMorgan Chase Bank, National Association, a national bank with the United States branches in 23 states, and Chase Bank USA, National Association, a national bank that is the Company’s credit card-issuing bank.The bank and non-bank subsidiaries of JPMorgan Chase operate nationally, as well as through overseas branches and subsidiaries, representative offices and subsidiary foreign banks. One of the Company’s principal operating subsidiaries in the United Kingdom is J. P. Morgan Securities Ltd. , a subsidiary of JPMorgan Chase Bank; N. A. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity.The Company’s wholesale businesses comprise the Investment Bank (IB), Commercial Banking (CB), Treasury & Securities Services (TSS) and Asset Management (AM) segments. The Company’s consumer businesses comprise the Retail Financial Services (RFS) and Card Services & Auto (Card) segments. Contingencies: NEED TO FIX Probable Litigation: The Firm has established reserves fo r several hundred of its currently outstanding legal proceedings. The Firm accrues for potential liability arising from such proceedings when it is probable that such liability has been incurred and the amount of the loss can be reasonably estimated.The Firm evaluates its outstanding legal proceedings each quarter to assess its litigation reserves, and makes adjustments in such reserves, upwards or downwards, as appropriate, based on management’s best judgment after consultation with counsel. During the years ended December 31, 2011, 2010 and 2009, the Firm incurred $4. 9 billion, $7. 4 billion and $161 million, respectively, of litigation expense. There is no assurance that the Firm’s litigation reserves will not need to be adjusted in the future.Mortgage Foreclosure Investigations and litigation: JPMorgan Chase and four other firms have agreed to a settlement in principle (the â€Å"global settlement†) with a number of federal and state government agencies, in cluding the U. S. Department of Justice, the U. S. Department of Housing and Urban Development, the Consumer Financial Protection Bureau and the State Attorneys General, relating to the servicing and origination of mortgages. The global settlement, which is subject to the execution of a definitive agreement and court approval, calls for the Firm to, among other things: (i) make cash payments of approximately $1. billion (a portion of which will be set aside for payments to borrowers); (ii) provide approximately $500 million of refinancing relief to certain â€Å"underwater† borrowers whose loans are owned by the Firm; and (iii) provide approximately $3. 7 billion of additional relief for certain borrowers, including reductions of principal on first and second liens, payments to assist with short sales, deficiency balance waivers on past foreclosures and short sales, and forbearance assistance for unemployed homeowners. If the Firm does not meet certain targets for provision o f the refinancing or other borrower relief within certain prescribed time periods, the Firm will instead make cash payments. ) In addition, under the global settlement the Firm will be required to adhere to certain enhanced mortgage servicing standards. Overdraft Fee/Debit Posting Order Litigation: JPMorgan Chase Bank, N. A. has been named as a defendant in several purported class actions relating to its practices in posting debit card transactions to customers’ deposit accounts.Plaintiffs allege that the Firm improperly re-ordered debit card transactions from the highest amount to the lowest amount before processing these transactions in order to generate unwarranted overdraft fees. Plaintiffs contend that the Firm should have processed such transactions in the chronological order they were authorized. Plaintiffs seek the disgorgement of all overdraft fees paid to the Firm by plaintiffs since approximately 2003 as a result of the re-ordering of debit card transactions.The cl aims against the Firm have been consolidated with numerous complaints against other national banks in multi-District litigation pending in the United States District Court for the Southern District of Florida. The Firm’s motion to compel arbitration of certain plaintiffs’ claims was initially denied by the District Court. On appeal, the United States Court of Appeals for the Eleventh Circuit vacated the District Court’s order and remanded the case for reconsideration in light of a recent ruling by the United States Supreme Court in an unrelated case addressing the enforcement of an arbitration provision in a consumer product agreement.The Firm has reached an agreement in principle to settle this matter in exchange for the Firm paying $110 million and agreeing to change certain overdraft fee practices. The settlement is subject to documentation and court approval. Service Members Civil Relief Act and Housing and Economic recovery Act Investigations and litigation : multiple government officials have conducted inquiries into the Firm’s procedures related to the Service Members Civil Relief Act (â€Å"SCRA†) and the Housing and Economic Recovery Act of 2008 (â€Å"HERA†).These inquiries were prompted by the Firm’s public statements about its SCRA and HERA compliance and actions to remedy certain instances in which the Firm mistakenly charged active or recently-active military personnel mortgage interest and fees in excess of that permitted by SCRA and HERA, and in a number of instances, foreclosed on borrowers protected by SCRA and HERA. The Firm has implemented a number of procedural enhancements and controls to strengthen its SCRA and HERA compliance.In addition, an individual borrower filed a nationwide class action in United States District Court for South Carolina against the Firm alleging violations of the SCRA related to home loans. The Firm agreed to pay $27 million plus attorneys’ fees, in addition t o reimbursements previously paid by the Firm, to settle the class action. Additional borrowers were subsequently added to the class, and the Firm agreed to pay an additional $8 million into the settlement fund. The court entered a final order approving the settlement in January 2012. Reasonable Possible:The Firm believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $5. 1 billion at December 31, 2011. This estimated aggregate range of reasonably possible losses is based upon currently available information for those proceedings in which the Firm is involved, taking into account the Firm’s best estimate of such losses for those cases for which such estimate can be made. For certain cases, the Firm does not believe that an estimate can currently be made.The Firm’s estimate involves significant judgment, given the varying stages of the proceedings (including the f act that many are currently in preliminary stages), the existence in many such proceedings of multiple defendants (including the Firm) whose share of liability has yet to be determined, the numerous yet-unresolved issues in many of the proceedings (including issues regarding class certification and the scope of many of the claims) and the attendant uncertainty of the various potential outcomes of such proceedings.Accordingly, the Firm’s estimate will change from time to time, and actual losses may be more than the current estimate. Auction Rate Securities Investigations and Litigation: Beginning in March 2008, several regulatory authorities initiated investigations of a number of industry participants, including the Firm, concerning possible state and federal securities law violations in connection with the sale of auction-rate securities.The market for many such securities had frozen and a significant number of auctions for those securities began to fail in February 2008. Th e Firm also faces a number of civil actions relating to the Firm’s sales of auction-rate securities, including a putative securities class action in the United States District Court for the Southern District of New York that seeks unspecified damages, and individual arbitrations and lawsuits in various forums brought by institutional and individual investors that, together, seek damages totaling approximately $50 million.The actions generally allege that the Firm and other firms manipulated the market for auction-rate securities by placing bids at auctions that affected these securities’ clearing rates or otherwise supported the auctions without properly disclosing these activities. Some actions also allege that the Firm misrepresented that auction-rate securities were short-term instruments. The lawsuits are being coordinated before the federal District Court in New York.Additionally, the Firm was named in two putative antitrust class actions. The actions allege that the Firm, along with numerous other financial institution defendants, colluded to maintain and stabilize the auction-rate securities market and then to withdraw their support for the auction-rate securities market. In January 2010, the District Court dismissed both actions. An appeal is pending in the United States Court of Appeals for the Second Circuit.Interim (Quarterly Reporting: During the current year 2011, the company’s revenue for 1st quarter is $25,221 million, 2nd quarter is $26,779 million, 3rd quarter is $23,763 million and 4th quarter is $21,471 million. There is a significant fluctuation in quarterly data because It experienced a decrease in revenues during the current year from 1st quarter to 4th quarter. Report of independent Auditors: Auditor is PricewaterhouseCoopers LLP located at 300 Madison Avenue New York, NY 10017. The auditor believes that the financial statements were presented fairly.Their opinion is stated as follow: In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, changes in stockholders' equity and comprehensive income and cash flows present fairly, in all material respects, the financial position of JPMorgan Chase ; Co. and its subsidiaries (the â€Å"Firm†) at December 31, 2011 and 2010, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2011, in conformity with accounting principles generally accepted in the United States of America.Also in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Report of Internal control: Management of JPMorgan Chase ; Co. (â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for establishing and maintaining adequate internal control over financial reporting. The same authority, Management of JPMorgan Chase ; Co. â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for maintaining adequate internal control over financial reporting. The auditor does believe that the corporation maintained adequate internal control over financial reporting. Here is their opinion: â€Å"in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Ratio Analysis Analysis of profitability: The profit margins were 16. 1% and 19. 52 % to the following 2010 and 2011 year end. The increase in profit margin due to the advantage of the allowance for losses, noninterest revenue and interest expense. Interest income and interest expense is recorded in the Consolidated Statements of Income and classified based on the nature of the underlying asset or liability. Interest income and interest expense includes the current-period interest accruals for financial instruments measured at fair value, except for financial instruments containing embedded derivatives that would be separately accounted for in accordance with U.S. GAAP absent the fair value option election; for those instruments, all changes in fair value including any interest elements, are reported in principal transactions revenue. For financial instruments that are not measured at fair value, the related interest is included within interest income or interest expense, as applicable. The corporation has the return on assets of 0. 86% in 2011 and 0. 79% in 2010. The returns on assets were significant low compare to return on stockholder’s equity of 10. 5% in 2011 and 9. 66% in 2010. In general, JPMorgan and Chase is a big corporation, but they had a tight controlled and managed very well. Therefore, their earning is improved and very stable in recent year although the economy looks doom. Earnings per share (â€Å"EPS†) is calculated under the two-class method under which all earnings (distributed and undistributed) are allocated to each class of common stock and participating securities based on their respective rights to receive dividends.JPMorgan Chase grants restricted stock and RSUs to certain employees under its stock-based compensation programs, which entitle recipients to receive non-forfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock; these unvested awards meet the definition of participating securities. Options issued under employee benefit plans that have an anti-dilutive effect are excluded from the computation of diluted EPS. EPS in 2011 was $4. 50 compare to 2010 of $ 3. 98. This increase is the result of increasing in net income in 2011 due to bet ter management.The corporation does disclose the diluted EPS with $4. 48 in 2011 and $3. 96 in 2010. Cash dividend per share in 2011 was $ 0. 94 dollar per share and $0. 36 dollar per share in 2010. Dividend payout ratio for 2010 was 16% and 35% in 2011. Price/ Earning ratio also improves between 2010 with 9. 26 times and 2011 with 9. 62 times. In the past decade, the average P/E ratio for Major Corporation has ranged from 14 to 25. JPMorgan and Chase’s P/E was below the range about 5 points. However, we can’t say that JPMorgan and Chase is no t growing.JPMorgan Corporation is huge plus with the gloomy economy right now, but this corporation still generates profitability while other corporation in the same industry is struggling. This tell us that JPMorgan is a stable for a long run. Analysis of Liquidity: JPMorgan and Chase had the current (working capital) ratio in 2011 of 1. 55:1 and 1. 71:1 in 2010. Net working capital was $964,168 million in 2011 and $932,220 in 2 010. Quick (Acid –Test) ratios were 0. 28:1 in 2011 and 0. 31:1 in 2010. The liquidity position of the corporation weakened a little in 2011.Although there was an increase in cash and receivables in 2011, there was less account receivable compared to 2010. There was also a large increase in current liabilities in 2011, because of the increase in deposit. Based on this, JP Morgan Chase should be able to meet its current obligation even though the ratio was a little down compare to the previous year of 2010. Since it is a big and sustainable corporation in the financial industry, there is rarely a change for them to have a problem with the working capital. Analysis of Solvency: Debt to total Assets in 2011 was 91. 8% and 91. 6% in 2010.There is not much difference between the debt to assets ratio showing the amount of leverage JP Morgan Chase used to finance its operations between the year 2011 and the year 2010.. The rule of thumb is to make sure that the bottom which is the a ssets is larger than the top which is the liabilities. The ratio of 91. 8% percent for the year 2011 and 91. 6% for the year 2010 at first glance would give an impression of a company which is over leveraged. This is not the case, JPMorgan Chase Debt to Assets ratio is very consistent with the banking industry standards especially banks of JPMorgan Chase size.Banks make money by lending other peoples money. It never hurts however, to bring the ratio a little lower as it would give the bank more space to maneuver should there be a financial melting in the general economy like the one experienced in 2008. Potential lenders would prefer the ratio to be as lower as much as possible because that would show that the company has more Assets than Liabilities which can help the company pay its debt when it’s due or assets that can be liquidated to pay its lenders should the company end up in liquidation. Missing Time Interest Earned Ratio Industry Competitor Comparison:A close competi tor of JPMorgan Chase is Bank of America Corporation. The difference between these large banks is that Bank of America is primarily a bank operating in other financial services while J. P. Morgan is an investment firm also operating as a bank. It has offices in more than 60 countries of the world. Both companies have relatively similar gross profit percentages; but percentages changed if we go down to income from continuing operations of both companies. As we see on the table 3, we know that the Net income from continuing operations of JP Morgan Chase is greater than Bank of America Corporation.This shows that Chase is good at managing costs on other income and expenses besides selling general and administrative and others. On the balance sheets, we both see the similar common-size on total assets of both companies. Another difference between two of them is the profitability. As we see on Table 3, profit margin of Chase bank is higher due to net income (gain) while Bank of America e xperiences a net loss. Return on asset for both companies are pretty low on last year. Return on equity for Chase bank is higher that means the shareholders earn a sufficient return on their equity investment.The major different on Profitability ratio between two companies is the dividend payout ratio which is the Bank of America is way too high. It indicates the company pays high dividends whose stock price is temporary not good. Moreover, a high dividend payout ratio can also point to a mature company with few growth opportunities. On other hand, Chase bank has low dividend payout ratio that we know Chase is a fast-growing company whose shareholders willingly forego cash dividends, because the company uses the extra money to generate higher returns and, in turn, a high stock price.As a conclusion, JP Morgan Chase is more profitable than Bank of America Corporation. Compared on the liquidity ratios, both companies meet their requirements on pay their liabilities on time. If we take down to Acid test, we easily understand Bank of America has more liquid assets available to pay its current debts. On the debt ratio, both companies’ ratios are over 0. 5 which means both companies’ assets are finances through debts. On the Time interest earned ratio, JP Morgan Chase is little bit higher which is better since Bank of America Corporation Company has more debts.Last but not least, Operational ratios are very similar and they both efficiently know how to use the assets on sales. As the whole comparison between too biggest bank firms, I think they are overall doing very well on managing their companies. Taking on to the details, JP Morgan Chase has more probability on sales. Bank of America is still doing fine but if I prefer invest on JP Morgan Chase’ stock. |   JP Morgan ;Chase |   | Bank of America Corp. |   | Income Statement Common-Size Data|   |   |   |   | Gross Profit/Sales| 92. 0%|   | 95. 6%|   | Income from Continuing O perations/Sales| 19. 5%|   | 7. %|   | Balance Sheet Common-Size Data|   |   |   |   | Current Assets/Total Assets| 19. 5%|   | 42. 5%|   | Current Liabilities/Total Assets| 71. 4%|   | 74. 1%|   | Liabilities/Total Assets| 91. 9%|   | 89. 2%|   | Equity/Total Assets| 8. 1%|   | 10. 8%|   | Profitabilty Ratios|   |   |   |   | Profit Margin| 19. 5%|   | 1. 3%|   | Return on Assets| 0. 9%|   | 0. 1%|   | Return on Equity| 10. 6%|   | 0. 7%|   | Dividend Payout Ratio| 18. 0%|   | 400. 0%|   | Liquidity Ratios|   |   |   |   | Current Ratio| 0. 62 :1|   | 0. 64:1|   | Quick Ratio| 0. 27 :1|   | 0. 2:1|   | Solvency Ratios|   |   |   |   | Debt/Total Assets| 0. 92|   | 0. 89|   | Times Interest Earned (Accrual)| 3. 00|   | 1. 12|   | Operational Ratios|   |   |   |   | Receivable Turnover| 1. 5|   | 1. 5|   | Inventory Turnover| N/A|   | N/A|   |  © 2008 William R. Pasewark|   |   |   |   | | | | | | Making Decision based on annual report Total net revenue for 2011 was $97. 2 billion, a decrease of $5. 5 billion, or 5%, from 2010. Results for 2011 were driven by lower net interest income in several businesses, lower securities gains in Corporate/Private Equity, ower mortgage fees and related income in RFS, and lower principal transactions revenue in Corporate/Private Equity. These declines were partially offset by higher asset management fees, largely in AM. Investment banking fees decreased from 2010, predominantly due to declines in equity and debt underwriting fees. The impact from lower industry-wide volumes in the second half of 2011 more than offset the Firm's record level of debt underwriting fees in the first six months of the year. Advisory fees increased for the year, reflecting higher industry-wide completed M&A volumes relative to the 2010 level. Management discussion and analysis) Revenues increased from 2009 to 2010 by 2. 25 %. The increase c ame in part from noninterest income, securities and principal transactions. The economy will be the most important factor on the banking industry in the next year. The mortgage industry is still hurting even if it shows some signs of improvement. JP Morgan showed a net profit of at 5 billion this first quarter of the year, but it is hard to predict if the total revenue at the end of the year would match the previous year’s revenues.Next year’s revenue is probably going to be in the 100-103 billion range. JP Morgan Chase’s income comes from diverse business units. The total revenues increased 2. 25% from 2009 to 2010. The increase came from asset management, the noninterest revenue, the security gains and the item marked other income. Also the reduction in the allowances for credit losses for mortgages and credit cards as a result of improved delinquency trends and lower estimated losses reflected the net revenue increase. Principal transactions revenue increased compared with 2009.This was driven by the Private Equity business, which had significant private equity gains in 2010, compared with a small loss in 2009, reflecting improvements in market conditions. Net income next year could be in the 19 to 20 billion range. In my opinion, JP Morgan chase’s assets will have a stable growth in the next few years. Despite the visible improvement in the economy, the banking industry is not likely to record rapid growth in the next few years. The recovery is still weak; investments are still lagging and so directly affecting the books of the banks. I expect the total Assets to increase a little more next year based on the mprovement in the broad United States and World economy. My belief is based on the fact that JPMorgan performed better than the average bank in 2010 and 2010 arguably the west years for any business in recent history due to the subprime mortgage melt down of the financial markets. The last few years so a high number of unemp loyment hitting 10% before starting drop later part of 2011 and the highest number of mortgage foreclosure. The mortgage industry as bottomed and the market is already healing and banks like Wellfargo are already posting stronger than expected results due to their mortgage based assets performing better than expected.JPMorgan Chase’s balance sheet looks relatively strong and do not show that it will need additional financing next few years. It has deposits in excess of $85,279,000,000 and it is sitting on cash of $59,602,000,000. JPMorgan Chase should not have a problem raising funds from the Capital market should they need additional financing based on the strength and growth of its balance sheet. The strength that JPMorgan chase has is the relative ability and strength of deposits which Chase can use to fund its business.This is one advantage banks like Lehman brothers that went under during the financial crisis may not have had. The three areas we see as the strongest aspe ct of JPMorgan Chase is high balance of deposits with the bank in the amount of 85,279,000,000 which shows the relative confidence the market in JPMorgan. Cash deposits are particularly important to banks because they use this morning to lend out for interest and other related fees. The 2011 balance show retained earnings in the amount $88,315,000,000 and retained earning $73,998,000,000 on the 2010 balance sheets respectively.This is important because it shows that JPMorgan Chase have enough resources to fund it operations and enough left over to reinvest into the business for future growth. The Debt to Total Asset ratio was 91. 8% 2011 and 91. 6% 2010 respectively showing that JPMorgan Chase has more Assets than Liabilities which should help the firm raise financing from the markets . should there be a need. This always a good indication to the investors that there investment is covered should the company goes into liquidation.One of the biggest weaknesses we identified was the re lative number of law suits and the amount funds that is being spent on settling law suits. Though the Debt income ratio is way better than most of the banks in its industry, we believe it would be helpful to bring the amount of leverage down to somewhere around . 075 % to better absorb economic shocks in the larger economy. We are very optimistic for the future of JPMorgan Chase especially as the mortgage industry bottom out and American economy continues creating jobs;we will see banks start do declare above average profits. The firm’s Stock price at 43. 4 is performing relatively better than it competitors like Bank of America at 8. 8 and Citi group at 34 indicating that investors still have confidence in the company. We would not invest in the stock of JPMorgan Chase stock at the moment even if we had money available to invest because we strongly feel that JPM Morgan already a very mature company and does not offer much potential for growth. We would instead invest in comp etitors such Capital One Corp. which is a relatively small and growing company with enough potential for growth. There stock price also now at 53 has performed better than JPMorgan Chase over the past year.

The Role Play of Chinese Woman Research Paper Example | Topics and Well Written Essays - 2000 words

The Role Play of Chinese Woman - Research Paper Example The first chapter, No Name Woman starts with a clever talk story about an Aunt Maxine Kingston had no idea whether she even existed. As the story weaves its self using the narrator’s voice, we learn that Kingston’s aunt killed herself and baby by way throwing herself into the family well. This was primed on the stifling knowledge that her aunt had begotten an illegitimate child out of wed lock. Getting a child out of wed lock was something that was prohibited in the Chinese culture, therefore, when one become such a victim was perceived an outcast, and thought to have brought disgrace to her family. Ideally, when Kingston had this story from her mother, it dawns on Kingston that she is not supposed to utter the name of her aunt by all standards. She thus decides to confine the memory of her aunt in her imagination only. In the same context, Kingston manages to rekindle the terrible experience of her aunt giving birth in a pigsty, but no one bothers to give her gifts as it is with the Chinese culture, after one gives birth (Kingston 12). The second chapter White Tigers is concerned with another story talk about the mythical female hero Fa Mu Lan. Fa Mu Lan. This story is told through first person narration. Fa Mu Lan practices thoroughly to become a hero when is only seven years old. He captains over men by way of pretending to be a man herself. She does this with a view to fighting against corrupt tycoon and monarch. After Fa Mu Lan wars are completed, she commits herself to the roles of both a wife and a mother. This revelation provides a sharp dissimilarity between Ha Mu Lan and Kingston different lives. Kingston stayed in America which had visible vestiges of racism. Her bosses were purely racist, and there was no she could stand up to them. So the resolutely resorted to fighting them using her own words as the sole weapon (Dickson 13). The third chapter threads through Kingston’s mother, Brave Orchid, and her senile traditional life bac k in China. Kingston’s mother was very influential doctor, midwife. Going by the story her mother was also a destroyer of ghosts. To Kingston, her mother’s past is as incredible as it is petrifying. Brave Orchid’s tales she regaled to her about the Chinese babies left to die; child traffic involving young girls disturb Kingston for many eons (Kingston 34). Towards the end of the chapter, Kingston comes home after being away for many years. Eventually, the two reconcile and mend holes that dented on their relationship after disagreeing and disputing over certain issues for a long time. The fourth chapter At the Western Palace is based on another of Brave Orchid’s talk-stories. These talk stories touch on the subject of an emperor who had married two wives. This story is somewhat intoned with analogy for Kingston’s sister Moon Orchid. When you delve dipper into the story, you learn that Moon Orchid’s husband, an accomplished doctor based in Lo s Angeles, had left her back in China and married a second wife in America. She goes later to America to claim her due as his wife. She hardly knows any English. Furthermore, things worsen for and she left to provide for herself in America. In the end, Moon Orchid goes mad and succumbs to her illness in a California state mental hospital (Kingston 145). Lastly, the final chapter A Song for a Barbarian Reed Pipe is matter of factly a memoir. This story talks in great lengths about Kingston herself and her

Pirates of Globalization Term Paper Example | Topics and Well Written Essays - 1250 words

Pirates of Globalization - Term Paper Example The researcher states that in an era of globalization and fast dissemination of information, fraudulent manufacturers employ sophisticated means of acquiring patented information and exploit it for commercial gain. As Catherine Holahan notes in her article for Business Week, pirated goods now account for nearly 7 percent of all commercial activity across the world. Developing economies such as India, China, Brazil and Russia are proving to be hotbeds for this trend as Intellectual Property laws are either vague or poorly developed here. Moreover, in the era of the Internet, online commercial transactions across borders are especially difficult to bring under the purview of cyber law, as there is no consensus between different participant nations. It is due to this reason that Digital Rights Management (DRM) has been conceived and implemented. The researcher of this essay looks into some of the mechanisms for protecting Inellectual Property rights, especially that of DRM. The research er then analyzes the modern era of globalization, where intellectual property rights face their greatest threat through the open and free transmission of information in the cyber world. The case for enterprise DRM is synonymous with the case for a well-articulated, role-based technology and data protection policy. It is then concluded that DRM simply moves the point of data security from that of the network hardware or the computer software down to the individual document, or even right down to document-based operations.

Modular Integrated Manufacturing Systems (MISS) Essay

Modular Integrated Manufacturing Systems (MISS) - Essay Example This means they have to increase efficiency in the manufacture of their products, maintain good quality and make reasonable profit just to stay ahead of the others in the game. With this in mind, SMEs is embracing methods of improving manufacturing through different methods among which specialized designing and modular designing. Unlike specialized designing which is customized for a specific SME, modular designing involves the combination of standard components together to form a complete system that functions as desired by the manufacturer. This method offers a variety of options for the SME to choose from since standard components are in abundance in the market, thus making many modular designs available. However, one must research which of the many is best suited for the business. The best way to solve this is developing a Modular Integrated Systems Strategy (MISS) framework to help in the selection. This paper will look at the best way for SMEs to integrate formulation of a manu facturing strategy through MISS. Given that there are several types of modular design methods, only six of them are considered as standard. These include component sharing, component swapping, cut-to-fit mix bus and sectional modularity as illustrated in the figure below. All these forms of modularity are visible in our day to day lives in their simplest forms. Workmen’s tool kits with drills, sanders and jigsaws are one example. In terms of component sharing modularity, these tools are designed to use the same battery pack between them and the drill head being switched for a sander is an example of component swapping modularity. Bus modularity is used in the communication system of telephones through switchboards and cut-to-fit in the tailoring industry for custom fit clothes. The best example of sectional modularity is best brought out by the LEGO Â ® Company in making blocks that stack in any direction (The Daily Module, 2014). These forms of

INTRODUCTION TO THE LAW OF PROPERTY Case Study Example | Topics and Well Written Essays - 1000 words

INTRODUCTION TO THE LAW OF PROPERTY - Case Study Example The second way is by, derivatively- this is where an individual sells his property to someone else or he may give it to another person as a gift, under which the ownership of the item is transferred to the other person. The last way is that of succession- in this case we find that the original owner of the item dies; here the item may be passed through to the other person. Under the law of property, we find that ownership is taken as a matter of law while possession is considered as a fact which involves physical custody accompanied by an intention of holding the item as one's own. An example of this is that when an individual is in possession of a pair of shoes decides to throw the shoes in the street, this indicates that he has given up his possession and the person who comes across the shoes and picks them then he becomes the owner of the shoes without paying for them. In law of property, we find that there is also a law of trust whereby, trust is defined as an agreement under which an item either money or property is owned and managed by one person for the benefit of another. It is basically formed when an individual, who is always referred to as a settlor hands over his property to other parties of his own choice who are legally referred to as trustees, under the law of property these trustees are always under the obligation of holding the property for the benefit of other persons. Under the law, for one to come up with a clear intention and the reason for the agreement must be stated. In the Derek case, we find that the reason for this agreement was that since his children had grown up to their twenties, they had a clear intention of purchasing a new house that could accommodate the three of them and also to enable them to take in lodgers so that he may be provided with an extra income. Therefore for one to come up with a trust he should also i dentify the beneficiaries in this case we find that the beneficiaries are Tim and Pam. This trust is always formed through the means of either a written documentation which is referred to as an express trust or it can also be formed by an implied trust.2 Under the implied trust we find that the legal requirements for this particular trust are well adhered to, but the intention for such an agreement are stated, in this case we may find that a reasonable title is not provided and in this case the law comes up with a provision that the grantor for the trust is the beneficiary. In the case of Derek and his children, we find that he was unable to obtain a mortgage loan due to his age and it is explained that, Pam who was able to obtain a loan and took the legal title in her name after which, Derek paid the amount required for deposit, expenses and the mortgage payments, here we find that Derek acted as a grantor according to the implied trust, which according to the law of property is formed in a situation where some of the legal necessities for an express trust are not met, although there is usually the formation of an intention to create a trust on behalf of the parties,

Attitude Towards Different Age Groups Essay Example | Topics and Well Written Essays - 1750 words

Attitude Towards Different Age Groups - Essay Example This essay will discuss peoples attitudes when treating those in different ages in different cultures (Baumeister et al 33). In most European Countries, most young people treat the old harshly. Young people assume that older people are more prone to accidents, slow learners, slow thinkers, and have a rapid physical deterioration. This is an unfair assumption since statistics from the world health organization, show that road traffic deaths involving young people under the age of 25 years are more compared to those involving the older people. In fact, one out of three road accidents involve the younger people. It is unfair for the younger people to assume that the older are slow learners and slow thinkers since there is no evidence to show that a person’s intellect decreases, as one grows older. There is also an assumption among the young people in Europe that older people are always sick. They believe the common myth that diseases are synonymous with aging, which is false sinc e there are many older people who have perfect health and do not look frail or old (Diller 47). Outright prejudice and discrimination towards the old are not only in Europe. In many developed Western countries, the majority treats the youth as the backbone of the future. This has created the image that the old no longer hold their place in society. There is brainwashing of the media, to view the old as people who should not serve anymore. This has, in turn, instilled a negative public image towards the old. Most professions exclude the old and leave them out in essential programs that could benefit them. It is a general view among most doctors that older people are too late for preventive care. This has led to late response to medical conditions in older people. Most receive inferior medical care, particularly when facing minor medical problems such as loss of teeth; hearing loss, loss of vision among others.

Existentialism Essay Example | Topics and Well Written Essays - 750 words - 5

Existentialism - Essay Example In other words, existentialism is a philosophical idea that is related to discovering oneself and the whole significance of life by the use of self-determination, freedom, autonomy, choosing, and responsibility. The idea is that every individual is seeking to discover and realize their true existence - who they are; what they are? - in life as each one makes decision according to his or her experiences, principles, and point of view. And options become distinctive without having the need of an impartial mode of reality. Existentialists believe in the idea that every person are compelled to make choices so as they should be responsible enough in making decisions with the aid of ethics and traditional beliefs. Freedom is a rudimentary idea in existentialism. Existentialists assert that while there are things that one cannot control such as skin colour, parents, race, etc., there is no possibility in pre-determining human actions, and that every human are deemed responsible for every act that he or she takes. In addition, the existentialist’ idea of facticity – a person is what the person’s past is in that his past co-establishes itself. (Sartre, â€Å"Being and Nothingness†). Many philosophers agree that freedom is something that cannot be separated from a person’s own nature. As a matter of fact, some existentialists subscribe to the notion that in dealing with human affairs, more so, on issues related to existence and personal concerns, human reasoning becomes limited, and sometimes, become insensible. Moreover, rationality does not have the ability to completely provide a person with the kind of consciousness needed to understand oneself; thus, human reasoning and other forms of rationality are insufficient (Kierkegaard 5). In religion, existentialists asserts that every believer should realize that, in studying the

To what extent do you agree with free market economics being more Essay

To what extent do you agree with free market economics being more effective than a mixed economy - Essay Example The government apart from refraining from regulating the market also does not provide any services and leaves this to the private sector. This kind of market has received both positive argument and negative ones (Hodgson, 2006). Those who do not feel that this kind of market economy can be efficient argue for a mixed market economy which includes the role of the government both as a regulator as well as a player in the production of goods and services. This mixed market is also called Keynesian economics, named after the famous English economist who helped in the rebuilding of the American economy during the great economic recession of the 1930s in the United States of America. The mixed market system features the government as a referee and prefect in the economy, providing for regulation and control as much as is needed. It also features the government as the provider of the most crucial and basic needs and services to the public. This is done to make sure that these are not capita lized. These services include education especially at elementally level, health and security. In a mixed market economy, the private sector is involved in the greater part of the production, but under the watch of the government. There are a number of advantages with regard to the mixed market. To begin with, the fact that the government is involved in the production of essential services is important in order to provide for the protection of those who may not afford to get these services from the capitalist market. The mixed market also regulates the private sector for the purposes of protecting consumers against unfair exploitation. Those who argue in favor of the mixed market argue that the belief by free-markets enthusiasts that the market has its own way of regulating itself through the laws of demand and supply (competition) are fundamentally wrong. This argument against the efficacy and

Affirmative action should be continued Research Paper

Affirmative action should be continued - Research Paper Example Since its inception, affirmative action has succeeded in balancing the scale of opportunities available to men and women of all ethnicities. A quota system generally reflects the area’s ethnic demographics thereby allowing for real equality opportunity that is not discriminatory towards any particular race. Although the majority ethnic group may now feel they are being treated unjustly because they have indeed lost ground from an economic standpoint, the scale is actually now adjusted closer to the middle thanks primarily to the use of affirmative action, demonstrating the need for this practice to continue. Since its inception in the mid 1960’s, affirmative action has aided many thousands of previously disadvantaged peoples who have since gained previously denied access. This includes those of color, other minorities and all women who were previously excluded from jobs, educational opportunities, or were denied chances for advancement within the institution once given access. These gains have led to very real changes not only in individual’s lives but in the advancement of society’s value of justice for all. Affirmative action programs do not have the ability to eradicate racist attitudes, just some of the effects caused by it. The idea of affirmative action has had its detractors and its implementation has not been without problems, but to eliminate this policy of equal treatment would be to take away the hard fought victories of the Civil Rights Movement and turn back the clock towards the dark days of overt racism in the pre-1960’s U.S. Debates surrounding affirmative action policies are much more far reaching than the legal issue alone. It is the moral responsibility of every citizen and institution in this country to affect all means of ending racism. Yet there is a faction of society who does not accept and have vehemently

Modern transparencies and unwanted-exposures Essay Example for Free

Modern transparencies and unwanted-exposures Essay Human beings have been constructing shelters to serve different purposes since the beginnings of civilization. How a building was constructed depended on three qualities set out by Vitruvius, the Roman architect in his treatise De Architectura †¢ Durability †¢ Utility †¢ Beauty Across the ages, one of these three criteria has been more important than the other. The precept of modern architecture is ‘form follows function’. The function of the building determines its structure. But built into this precept are many other modern and post-modern conceptions of notions such as privacy, publicity, sexuality, art, etc. Some of the key components of design are space, volume, mass, texture, shadow, light, materials, structure, etc. Each of these components has been given varied importance in the different times. Modernist architecture has been influenced heavily by the Austrian architect Adolf Loos who believed that ‘ornament is crime. ’ He said, The evolution of culture marches with the elimination of ornament from useful objects. He believed that the influence of culture on ornamentation would change with changing culture and therefore ornamentation itself would become obsolete. Adolf Loos said, â€Å"Does it follow that the house has nothing in common with art and is architecture not to be included in the arts? Only a very small part of architecture belongs to art: the tomb and the monument. Everything else that fulfils a function is to be excluded from the domain of art. † Ornamentation is tantamount to art, which Loos completely discredits by saying, â€Å"The house has to please everyone, contrary to the work of art which does not. The work is a private matter for the artist. The house is not. † He differentiates designing a house and depicting art in these words, â€Å"The work of art is brought into the world without there being a need for it. The house satisfies a requirement. The work of art is responsible to none; the house is responsible to everyone. The work of art wants to draw people out of their state of comfort. † Loos echoes the philosophy of Deleuze when he says, â€Å"The work of art shows people new directions and thinks of the future. The house thinks of the present. † According to Deleuze, art is supposed to provide signs reading which a person is supposed come out of the rote of daily quotidian life and move towards creativity. Entailed in this function of art is deep discomfort which is why a house is not supposed to perform the function of art. Entailed in the notion of a house is a feeling of comfort in the present. â€Å"The house has to please everyone, contrary to the work of art which does not. The work is a private matter for the artist. The house is not. † â€Å"The house has to serve comfort. The work of art is revolutionary; the house is conservative. † Adolf Loos strived to strip culture of ‘art’ and ‘ornament’ and bring to it pragmatism, functionality and rationalism. Each of these qualities is attributed to the male. They are in stark contrast to the Jugendstil artists from the Wagner school. According to Susan Henderson, â€Å"Loos maintained that strict gender distinctions were basic to the ordered logic of modern society, and he decried the ambiguous gender roles that had invaded art and culture. Jugendstil decadence lay in its unrealistic attitude towards the capitalist economy, its regressive fascination for a dying aristocratic tradition, and a benighted love of ornament that sapped the productive energies from Viennese culture. His call for cultural reclamation through a reinvigorated rhetoric set the stage for embedding a new masculinism in the language of early modernism and the reassertion of middle-class values after a generation of retreat from the productive enterprise. † There exists an in-built contradiction between notion of perfect space that the architect harbours and the real mess of daily life. In both cases the woman is positioned as hidden and within and is always object subject to the male gaze. The domestic space of the Josephine Baker is converted into an erotic space. Josephine is present ‘in absentia’. The architecture is incorporated into the body of Josephine Baker and the body is entrenched in the architecture. â€Å"This is a wide-ranging and multifaceted notion of circulation, which includes passages, traversals, transitions, transitory states erotic circulations. † (Bruno, 1992) Given this understanding of Loos’ psychology it is a little complicated to learn the aesthetics of the Josephine Baker villa in Paris. This villa stands in contrast to many other designs of Loos. Feres el-DahDah says, â€Å"It is an epistolary attempt to detail her image in ‘various points’ through a kind of writing that stretches a third skin between the body of the architect and that of the dancer. The house is an apparatus†¦through which one can somehow rub against, or trap, a dancer’s exoticized body. It is a building designed as a tactical enterprise, as the imaginary ‘prose’ of an amorous conquest in between whose lines (in between the stripes of its facades and the distribution of its rooms) one is to decode a longing to signify desire. In other words, this house corroborates someone’s yearning to touch the absent body of Josephine. † This ‘present absence’ of Josephine Baker is called by Adolf Loos, ‘modern distinction’. The intense longing for the absent object brings to life that objects giving it a surreal physical manifestation. The elevations of the Baker house support this Freudian argument. The empty spaces represent Loos’ phallocentric desired for the absent object. If the Josephine Baker house is a modern depiction of sexuality that uses large unwanted space as a representation of desire for the body of Josephine Baker, large space is also used to represent violence and inspire fear through the designs of panopticons. Panopticon is a prison designed by Jeremy Bentham, the eighteenth century English Philosopher. The function of a panoticon is to watch the prisons without the prisoners themselves being aware either of the observer or of the process of observation. Jeremy Bentham called it ‘sentiment of an invisible omniscience. ’ â€Å"the more constantly the persons to be inspected are under the eyes of the persons who should inspect them, the more perfectly will the purpose †¦ of the establishment have been attained. Ideal perfection, if that were the object, would require that each person should actually be in that predicament, during every instant of time. This being impossible, the next thing to be wished for is, that, at every instant, seeing reason to believe as much, and not being able to satisfy himself to the contrary, he should conceive himself to be so. This point, you will immediately see, is most completely secured by my brothers plan; and, I think, it will appear equally manifest, that it cannot be compassed by any other, or to speak more properly, that if it be compassed by any other, it can only be in proportion as such other may approach to this. † The fundamental structure of a panopticon consists of a circular building. The rooms of the prisoners are present in the circumference of the building. Iron grating is present on the inner circumference. But this grating is virtually invisible to the prisoner. Such a grating traps the prisoner between the feelings of freedom and imprisonment. The prisoner knows that there is a grating but he cannot see it. It places him a limbo between privacy and publicity. Violation of private space is violence nonetheless. The room of the inspector is at the centre of the building. The windows of the prisoners’ room ‘radiate’ through the centre of the inspector’s room such that the inspector has a direct view into the rooms of all the prisoners. The windows would be covered by blinds till the eye level of the prisoners. This function of a window is opposed to that perceived by Adolf Loos, â€Å"to let the light in; not to let the gaze pass through†. Of course, the context of the windows in both cases is very different. In a panopticon, light is allowed to pass through only to the extent that allows the inspector to see the inside of the cell. In a house, light must be let in to brighten the house and make it comfortable to the inhabitants.

An Analysis Of The National Interest Of India Politics Essay

An Analysis Of The National Interest Of India Politics Essay National Interest is one of the important concepts for a country in International Relations. As a whole, it is defined as survival and security of a state. It mainly focuses on the countrys ambitions in cultural, military and economic backgrounds (Lavy, 1996). Although national interest of a country has different dimensions, we consider security and prosperity as considered as the primary goals. The other dimensions include economic development, advancement in military operations and retention of countrys culture in this modern world. The National Interest differs from country-to-country depending on their primary goals. National Interest is a process which prioritises the main problem in which the country should develop in. India is a country with a billion people population and has different dimensions of thoughts. The need for a particular state is of lowest concern for others. So it is hard and a complex job to prioritise the national interest for the people of India. In this ess ay, let us examine the history of National Interests and also the interests of India. HISTORIC EMERGENCE OF NATIONAL INTEREST: In the early 19th century, national interest was considered as important to that of a religion. This concept of National Interest was introduced by Niccolo Machiavelli but was first seen in practice during the Thirty years war by the French Chief Minister to reduce the increasing power of the Holy Roman Emperor. After these incidents, National Interest became a dominant term in European politics. During the Congress of Vienna, the government practiced the new concept of balance of powers which resulted in balancing the national interest in many countries. The consequences of the balance of powers were devastating and resulted in the First World War, so this concept was replaced by Collective Security. The concept of Collective Security was not successful because United States did not join the League of Nations and the concept was not in the borders of National Interest (Byrd, 1996). Realist and Neo-Realist concepts emerged during the Second World War due to the dominance of power in the world. League of Nations and its idealistic approach was considered as the reason for the formation of fascist states of Germany and Italy who were the causes of Second World War. Nowadays, the concept of National Interest is often related to policies which differentiate the idealistic policies. By differentiating the National Interest with idealistic policies, it paves ways for good foreign policy by relying on multilateral institutions. The term National Interest is used by many countries to prioritise the problems they had been facing in the past and also setting goals for future forecasts. These policies are more or like the ways or processes which have a positive notion for the particular country. Antonio states that National Interest and Law and Order are different from each other and have no importance when combined together (Byrd, 1996). NATIONAL INTERESTS OF INDIA: As the standard definition states that, survival of the state is important for the citizens to pursue happiness and prosperity. India adheres to the standard definition of National Interest. According the above definition, Indias national interest should be framed taking into account its territorial integrity, economic competition from other countries and ways to reduce those threats. The foreign policy of a country also depends on the national interests for its improvement (Venkat, 2007) Considering the Indias primary national interest as states survival, security and maintaining strong relationship with other countries, Indias national interests are Energy security, deals with the prolonged desire of nuclear fuel and nuclear technology. Securing unity and territorial integrity with China and Pakistan. During this process, India should maintain stability in government and peace for its fellow citizens. The conflict between India-Pakistan will be resolved only when the social-political changes occurs in Pakistan. Improving influence among the Asian countries by providing security and military intelligence to the smaller countries. Achieving greater freedom in the Indian subcontinent in trade and investment. These national interests are set to change from time-to-time according to its fulfilment. POST-INDEPENDENCE SECURITY: Territorial Integrity and Unity are considered as one of the important objectives to be fulfilled by India. The main aim in those perspectives is to settle the disputes of Indias long borders on LOC (Line of Control) of Pakistan-occupied Kashmir with Pakistan and LAC (Line of Actual Control) with China. These borders of LOC and LAC are controlled by Pakistan and China respectively. The providence of Pakistan-occupied Kashmir was invaded by Pakistan in 1947 and on the other hand, the China invaded the borders of Arunachal and Himachal Pradesh during 1956 and 1962. It is one of the important duties of a country to protect its current borders. So India should try for a best possible way to resolve the complex disputes with those two countries. India should consider implementing some strategies and tactics to overcome the problems in these regions because these are the primary concerns for India. Having fought many wars in LOC, Pakistans army and ISI have been aiding in removing the anti -social elements from the Pakistan-occupied Kashmir providence (Parisar, 2010). As India is considered as one of the fastest developing countries in the world, it should be well equipped in terms of defence and military operations. In order to keep up the momentum going, India should come up with some policies which are helpful in reducing the poverty. In order to achieve these goals, India should maintain a good relationship with its regional countries and also with other countries like the countries in Middle East, Central Asia, Indian Ocean regions and South East Asia. This makes meaning as to why Indias stance on Non-Alignment serves as the core National Interest of the country (Parisar, 2010). The importance of Indias relationship with USA is important and cannot be undermined. Even though, USA had been hit by the worst financial crisis ever in the recent decades, it is still the most dominant super power in the world. India has always maintained a good relationship with US in the fields of trade, science and technology, security issues, energy security including nuclear and non-conventional energy sources. Secretary Hillary Clinton has also emphasized that the democratic political system of both the countries also serve as a binding factor for the close relationship. Political systems, values and other beliefs are considered as the important factors to maintain a close relationship with USA (Dutt, 2007). SOCIAL AND ECONOMIC PROGRESS: The first priority was given to the advancement of the social and economic sector after the independence in 1947 but due to the shortages in defence sector, the progress in those fields were reduced. There has been a continuous increment of economic growth over the past three decades and reduction in people below the poverty line. This change was only possible just because of the closing the gap of inequality in India. Essentially the main aim of the Indian government is to satisfy the progress in defence and development of the state as whole. Owing to a bigger surface area, free India did have a complex security situation which it failed to address it at full concern and allocating only 1.5 to 2.8 per cent of the GDP. As India is considered as one of the fastest developing countries in the world, it should look in reducing the poverty stuck people by improving the socio-economic conditions and creating more jobs for the people in the country. India is posed with the biggest challeng es in the development of social and economic sectors because it should consider the development of the middle class by eliminating the regional inequalities and social imbalances and also have a close look at the overseas Indian population. As we step into the 21st century, there are some factors from the other countries which influence the political, military and economic behaviour of India. They are: United States is ranked as the super power in the world. Its policies of creating alliance in political, military and economic sectors with other major countries have increased their influence in the international arena. This has helped the power of many countries to be rising when compared to India; India has also been influenced by China as it is growing rapidly and it is represented as the second most powerful country in the world. China will continue to follow its current political policy and represent the most powerful authoritarian state in the world; Japan should also be consid ered in this context as it is a techno-economic super power. Its policy of undermining its military power should be taken into account; Another major power which should be considered is Russia. Even though, it has been struggling because of the political-social crisis and the collapse of the Soviet Union, it has advanced in the production of nuclear weapons and encouraged its military capabilities. These features make Russia to be addressed as an important country which can make changes to this modern world; European Union is emerging as a major power as it is coordinating its policies with the alliance countries. This process will turn out to be a successful venture for India in the coming years. As we can see from the above factors that the world is turning towards the Asian land mass for its development. India has also inked in a historic deal with United States for the exchange of nuclear fuel and nuclear technology for the period of 10years in 2005. This historic deal will help reduce and fuel the growth of the industrialised India by 2020. This proves that the development in the coming years will be Asia centric (Nitin, 2007). CHANGING SECURITY CONCERNS: With advancements in the information technology and science, the world is ready for another military revolution. This revolution in the coming years could entirely change the nature of war as we know it in the present. India can be an important country which could play a role in ensuring regional and global peace around the world. The results of the cold war have not helped in reducing the mass destructive weapons and did not promote peace in many countries. In turn it made exclusive laws to retain these weapons for the protection of the super power countries to remain dominant over others. This has made the penetration of these mass destructive weapons to the small countries legally and illegally. The security concerns at this instance are deteriorating all throughout the world. So India should be more focussed on monitoring and analysing the security measures that it has taken to ensure a secure environment. These steps are considered very important for India because terrorism has involved into a biggest problem these days and are penetrating in many parts of the world. India has also partnered many countries in fighting terrorism to ensure a secure India to all the people. They have been spending 2% of their GDP for their military operations and developments. All these factors are considered as important challenges that India need to take it into account when constructing its military operations in the future. India should work with the ASEAN countries to address the security measures which are useful for the Asian regions as whole. It should also work with Non Aligned Movement countries to defend and provide solution for the international community and also keep good relati on with the major powers and main partners. India should provide a secure transfer of equipment and material that are important for Indias defence program (Venkat, 2007). Another major concern for India is that of its geographic location. India is placed just in the middle of countries which are well known for its arms traffickings and narcotics. India is placed between North West Pakistan and Afghanistan and Myanmar on the other side. The military training camps which fight the holy war against the world in the regions of Afghanistan and Pakistan should also be considered as the major threat for the security of India (Raman, 2011). The national security of India just cannot be taken for granted as it involved during the cold wars stages. The main reason for this is that of the advancement and sophistication of the weapons developed by many countries and the ways in which the wars are fought nowadays. The security that prevailed during the cold war stages only focussed on nuclear weapons and missiles but today the problems have become more complex and intense. There are many countries which have also opted out of procuring these dangerous weapons. Today countries have to build security measures which combat to the needs of political, economic and military needs in common. DEMOCRATIC MODEL FOR DEVELOPMENT: India is one of the biggest democratic countries in the world. Democracy proves to be an important tool to ensure that the benefits of the government are equally shared across the entire population without violence and exclusions. Democracy is also a process which guarantees rapid growth of power and wealth. In India, democracy has opened up to many peoples to stand for their rights. It is also stated that the other neighbouring countries after seeing the democratic model of India have ensured support and peace to all their citizens. For India, democracy should remain as a top priority in the future years to offer peaceful and proper guided country. Firstly, we need to recognise that the democratic model is never fast or easy as it is the complex combination of culture and policies. We also say that culture is not the destiny to get democracy. The countries with different culture, race, religion and different levels of development have promoted democracy and had been successful in it . In democracy, there is nothing which involves the cultural factors like Asian values, militarism or tribalism. India should promote and support democratisation by improving fair trade and investment from their citizens. The process of encouraging trade and bilateral investments also helps to improve democratic development. Political institutions should be given the power to enforce property rights to protect human rights and law. The main problem that comes into action is the corruption that takes place by the ruling party and others in power. These corruptions get unnoticed because of the fight in the corporate companies for corruption. The main strength of the present India is that of its well educated middle class population, it represents about 70 per cent of the total population. This advantage also creates new horizons for political movements and parties to establish a good government in the future. Trade also serves as one of the important issues for the development of the country, it not only helps us for the domestic economy but also for the foreign policy as a whole. Foreign cooperation with other countries, security developments and trade together helps India to be independent in the world. Promotion of democratic development is possible only when all of the above policies progress in the future (Bakshi, 2009). CONCLUSION: Even though India has been trying hard to maintain secure environment, it has failed to do so because of the threats from the anti-social elements. India has also increased their defence budget and has also acquired some war-heads and combat aircrafts from other countries. Indian government is also trying to make the better use of peoples money by updating their weapons and bringing confidence to the public as that of the Mumbai attacks. India as it goes by the roots, it takes democracy to attain peaceful and a secure country. As India is growing rapidly, it has to have a safe, secure and a stable neighbourhood. So India is ready to join and perform any security measures at the international level or regionally to bring stability and peace to the world. India should also provide security to citizens by reducing the riots in the country. It should also provide a secure environment and support for the people of India who live overseas. India owing to its multicultural society and a uni que democracy has ability to be considered as an example to many other countries to live peacefully. India in the recent years has opened its economy to foreign investors and is also providing rebates for their establishment. This has in-turn helped to boost the Indian economy from the FDIs and reaped good dividends from the markets. All these rapid developments and investments are only possible if India enhances its security and defence in the coming years.