Economics

China has undoubtedly been the economic success story for the last 30 years, it has gown from being a centralized economy to a more independent system which is largely dependent on market forces and a fast growing private sector. The opening of foreign trade and investment has led to annual inflows of foreign direct investment of around 108 billion in 2008. However with the rapidly growing economy, China faces a number of problems which include corruption, environmental damages and work force related...

The term financial means money or money related resources and the term crisis means deterioration or disaster or emergency so the financial crisis means the rapid deterioration of financial indicators such as asset prices and short-term interest rates which becomes the cause of financial disaster. It is also defined as the sudden change in stock rates in the financial markets. An example of financial crisis is stock market crash (Feldstein 1991, p. 12). The reason for financial crisis is not the...

Economics, as a field of study, covers both macroeconomic and microeconomics. Numerous factors are considered in the study including but not limited to, aggregates of demand, total employment and unemployment rates, total output, price levels, imports, and exports and other economic issues regarding the economy as a whole are considered (Hillier 1991). Labour markets are the focal point in studying employment in the economic perspective, particularly, the supply and demand for labour. A perfect...

After 1976, the Chinese government under Deng Xiaoping initiated reforms which changed the face of a nation. New institutions were imposed from above. Most of these institutions were controlled by the Chinese government. For example, the Township and Village Enterprises was created to allow farmers to sell their surplus to the government. After Mao, economic reform may be considered an economic success. For two decades, China experienced sustained economic growth. Standard of living has also significantly...

After the initial waves of the global credit crisis, many stood in disbelief in the ferocity of the crisis as it slowly rode the maelstrom of the credit crisis, with many with baited breath on the next financial colossus that would be swallowed up in the rage of the financial storm. Headlines and news reports slowly unraveled companies being swept under the rush of the global contagion, countries and governments forced into drastic financial moves designed to resuscitate their dying economies. But...

The banking system of United States has changed significantly over the years. Today, these banks offer a wider rage of services to their customers than any time in history. However, banks central functions have remained constant over time. The main function of banks is to put communitys surplus funds into use through lending to people who need them. They therefore serve as a link between the lenders (those with surplus) and borrowers (those with a deficit). Banks are the first choice in saving,...

The availability of resources both natural and manmade has a direct influence on the way we eat today. Due to the financial constraints which individuals are facing in the contemporary world, majority are not able to afford expensive food products in the market. As a result, members of the society have emulated traditional foodstuffs. Another way through which economics influence the way we eat is due to the culture of saving that has been adopted by individuals. Some people forego expensive foodstuff...

In the current scenario, it is important to set certain constants such as the premise that regardless of how one gets to work the assumption is that one will get to work on time and will work the standard 8 hour work shift.  This means that the only other variable is how much time individuals will spend for work-life balance activities such as recreation and rest. Under the current assumptions, the options can be ranked accordingly, riding a bus, riding a motorcycle, riding a limousine and...

The Declaration as well as Treaty establishing the Southern African Development Community was signed on July 17, 1992, in Windhoek, Namibia. There after several countries joined South Africa joined in 1994, Mauritius in 1995, the Democratic Republic of Congo in 1997 as well as Seychelles in 1997 but later pulled out of the SADC in 2004. The objectives of Southern African Development Community included regional economic integration, harmonization and rationalization, poverty alleviation and strategies...

Exchange rates are the value at which one countrys currency can be exchanged for another countrys currency. International trade cannot exist with out the exchange rate system. While many countries around the globe try to manage their currency exchange rates stringently others leave them to settle themselves with the forces of demand and supply in operation. For many developing countries it is inconceivable to let the forces of demand and supply to act on their own and determine the exchange rates...

Many people in the world depend on the hospitality industry, directly or indirectly for employment. In the US it makes up about 2.6 of the total economy, according to 2009 estimated by the Department of Labor. Like all the sectors that were affected by the economic downturn, the hospitality industry needs some remedies to aid its recovery and generate jobs to million of people who depend on it. This paper will look at the general overview of the economy, its meaning, and its organization in the...