Impact of US Dollar on Canadian Economy Essay Example for Free

Impact of US Dollar on Canadian Economy Essay The Canadian Economy is strong. According to the 2001 Canada Yearbook, factors contributing to the country’s economic health are: natural resources; manufacturing and construction industries; financial and service sectors; the ability to span distances using communications and transportation technologies; dynamic trade relationships with other nations; and the ability to compete in a global marketplace (2004). Being the 2nd largest country in the world, Canada’s natural resources accounts for 12. 6% of its GDP growth in 2003. The Energy Sector, Forestry, Mineral Sector as well as Geomatics Sciences are responsible for this growth. Exportation of natural gas, timber and wood products, potash, uranium and other minerals make up for the growth. Geomatics is the science and technology of gathering, analyzing, interpreting, distributing and using geographic information. Since 2002, when the Canadian Government initiated the focus on understanding and mapping its land resources, it became one of the leading suppliers of information, technology and equipment in Geomatics. Today, Geomatics is a $10 to $20 billion dollar industry growing at a 20% rate, and thus is a potential growth area for the Canadian natural resources sector. According to Industry Canada, the Manufacturing and Construction Industries contribute to about 40% of Canada’s GDP, with an actual gross approximately $25 billion in December 2005. The two industries combined showed growth near single digit levels, (manufacturing at 1% GDP and construction at 0. 7% in Dec. 2005) which propelled the 0. 4 over-all GDP, making up for the loss in the Agriculture section at -1. 6% GDP in December 2005 (2006). The services sector in general is boosting the economy. Canada Yearbook states that the sector employs three out of four Canadians in the 21st Century (2004). Though their output is not as tangible as manufactured or natural goods, the services sector is everywhere and serve as the backbone of every economic sector. From the driver of a courier van to the company financial analyst to the service providers in Civil Defense, all the roles belong to the services sector. Together with advances in information technology, the services sector is transforming Canadian Economy into a knowledge-based economy (2006), as claimed by the Canadian Yearbook, where-in its modern products are efficient back-end services, professional consultancy and breakthrough technologies and equipment. Despite the economic transformation, trade is still the main means of business for Canada. As such, relationships with trade partners play a vital role. Among the countries in the world, four markets are in constant and significant trade relations with Canada: United States, United Kingdom, Japan and more recently, China. Among the four, its close neighbor, the United States takes about 75 – 80% of Canada’s trading business. Thus, changes in the Unites States economy, particularly of the US dollar impacts Canadian economy. State of Canada-US Trade Geography and history have provided opportunities for the United States and Canada to be in close business relations. In the natural order of things, free trade between the two nations would be beneficial in toto. However, political and social ramifications have prevented the successful pact since the mid 1800s until such time when, despite the disagreement of Canada’s Conservative Party, the Free Trade Agreement (FTA) between US and Canada was effected in October of 1987. The over-all provision is to minimize tariffs of all goods traded between the two countries to a maximum of 1%. With the FTA in effect, trade between the two countries rose to 40% from a pre-FTA level of 25%. However, there is strong opposition from Canada about violations of the United States in the provisions of FTA, to the disadvantage of Canada’s agricultural business. However, seeing the benefits of a free trade zone, Prime Minister elect Jean Chretien improved the FTA and broadened the extend of the free trade to Mexico. Thus, in January of 1994, the North American Free Trade Agreement (NAFTA) between the United States, Canada and Mexico, took effect. Such Agreement involves an immediate and phased release of tariffs and trade barriers for agricultural products traded between the three countries. A macro benefit of NAFTA is a systematic conduct of business within North America because of the creation of an impartial, rules-based system to resolve dispute among the countries. Significant increases in trade activity were observed among the three countries in the first seven years of NAFTA implementation as compared to agricultural trade activities with other markets outside of North America. Canadian agricultural and agri-food exports to the United States and Mexico have increased by 95 percent, reaching $14. 8 billion in 2000. In comparison, Canadian exports of agricultural products to non-NAFTA countries grew by 45 percent during the same period, according to Agriculture and Agri-food Department of Canada (2006). Prior to NAFTA, agricultural import-export activities between Canada and the United States was only at $13. 7 billion. However, this increased $25. 1 billion in 2000, 82% higher, since 1993. Because 61% of Canada’s farming produce are exported to the United States, agricultural exports for the same period grew 92% to reach $14. 1 billion. As a result, Canadas agricultural trade surplus with the United States has more than tripled since 1993. As summarized by the Agricultural Department of Canada, Horticultural crops: volume exports of tomatoes increased twenty-fold while exports of peppers and lettuce increased seven-fold, and exports of cucumbers increased six-fold. Oilseeds products: soybean oil volume exports increased seven-fold, exports of sunflower oil quadrupled, and canola oil exports increased by 44 percent. Specialty crops: dried beans volume exports nearly tripled. Red meats: beef volume exports more than doubled while pork exports increased by 87 percent. Processed products: roasted coffee volume exports increased nearly seventeen-fold, malt exports increased nearly five-fold, exports of frozen French fries increased four-fold, and pasta exports more than tripled. Following the success of NAFTA and its predecessors from other continents of the world, Canada together with thirty-three other countries belonging to the American Continent are drafting a free trade agreement called Free Trade Agreement Among the Americas (FTAA). With its complex participation, the agreement is still under negotiations. Factors that Influence the Rise of the Canadian Dollar (against the US Dollar) With the rise of the United States as an Economic super power, it naturally assumed a role of having the US dollar as a worldwide currency. Significant markets such as Canada are always compared to the dollar. Moreover, being a majority trade partner of the US, the exchange rate of the Canadian dollar matters significantly over the US dollar. Since 2003, Statistics Canada has plotted the rise of the Canadian dollar against the US dollar and indicated its significant rise against the greenback. There are three factors that may have contributed to this growth: first, the weakening of the US economy brought about by increasing current account deficits; secondly, the worldwide increase in commodity prices; and thirdly, the improved performance of the Canadian economy resulting in trade surplus. Since 2001, there has been a common phenomenon in most major currencies in the world: they appreciated against the US dollar. The Euro and Canadian dollar were two of the strongest performers. When the Euro surpassed the greenback in 2003 analysts predicted that there was no turning back. While the loonie has seen significant appreciation at the rate of 25% since 2001 until 2005, surpassing historical performance by the US dollar. Such appreciation has been driven by the increasing trade deficits of the US. Since 2001, the US has been buying more goods and a service than the country is able to sell. More oil, gas, metals and services were bought with US dollars than were sold outside of the US. Some analysts believe that the on-going War on Terror has been the main source of the deficit. While the country is still figuring out how to address the deficits, major trade partners such as Canada are reaping the benefits of a weakening dollar. At the mercy (or because) of commodity supply, the Canadian economy remained resilient despite the volatility of oil, gas, metals and wood. Being a major supplier of such commodities, precarious world prices came at an advantage. Despite some internal losses as a crude oil refiner, the bottom line effect of this factor remained positive and contributed to GDP. Thus, the increase of the Canadian dollar. Last factor that weakened the dollar from Canada’s point of view is the initiative of its government to attract more businesses through higher interest rates (vs. that of the United States). The over-all effect therefore, of the three factors above is the weakening of the US dollar against the Canadian dollar. Today, the exchange rate of the Canadian dollar is rising and reaching its peak in 2001, at C$ 0. 846 vs. the US$. With such growth, the general assessment of Canadian economists, businesses and external analysts is that this is positive for the Canadian economy, now more than ever. The next sections will have full discussion of the different sectors in the Canadian economy as impacted by the weakening (or strength) of the US dollar. Impact of the US Dollar on Canadian Industries Exports Apart from agriculture and agri-products, steel is another commodity that Canada heavily trades with the United States. Canada’s steel production accounts for approximately two percent of the world’s total supply. This is very small as compared to the Asian producers (Japan, North Korea and Taiwan), which accounts for nearly 40%. Nevertheless, 89% of Canada’s steel export go to the United States while 58% of Canada’s imported steel come from the US. Trade barriers, transportation costs prevent small Canadian steel producers from competing outside of North America. North America’s open market is ideal for small and big steel manufacturers from Canada. Just by its size and high demand, the opportunity for supply is wide. In addition, proximity to such a large market allows for low transportation cost. Just-in-time supply is immediately served without much impact on delivery cost. Furthermore, inventory can be kept low unless preparing for construction peak. Steel pricing in North America is also higher than other export markets by as much as 40% when compared to Japan, where steel importation is minimal due to its own supply. In North America, particularly the United States, steel trade is predicted to continue growth. In this light, sustained and open access to the U. S. market is key to the Canadian steel industry. A slight fallback in the market, for example, experienced in 1995 posed a threat to the industry. Whenever such a slow-down happens, issues related to anti-dumping and government subsidies arise, without any proper venue for address under NAFTA. Unfair trade practice is an issue commonly raised by the US against Canada when market conditions appear to favor Canada’s steel industry. In the same manner, weakening of the US dollar may initiate such a condition when Canada’s steel industry continues to maintain a surplus against the US. Once again is likely to be subject to charges of unfair trading practices by U. S. steelmakers. In 1993, according to Industry Canada, the country had a global steel trade surplus of $580 million and a steel trade surplus with the U. S. of $909 million. While the trade surplus was maintained with the U. S. , the surge in steel demand in 1994 resulted in a dramatic rise in imports and produced an overall international trade deficit of $207 million. The total trade balance deficit increased in 1995 to $349 million as Canadian imports again exceeded exports. However, the steel trade surplus with the U. S. was $1. 0 billion in 1995. Over the period from 1989 to 1995, steel imports have increased from 18. 6 percent of apparent domestic consumption in Canada to 29. 9 percent in 1995. Meanwhile the import share held by the U. S. increased from 8. 6 percent to 17. 5 percent. In the U. S. market, imports increased from 17. 9 percent of apparent domestic consumption in 1989 to 21. 4 percent in 1995, with Canadas import share increasing from 3. 1 percent to 4. 0 percent. With such steel trade dynamics between the two countries, the weakening of the US dollar means the increase in Canada’s export price. Either more US dollars are needed to purchase the same Canadian product in the 21st century, than during the slump 1990s; or less Canadian dollars are earned for every sale of a Canadian export. At the other end, when Canada imports from the US, the commodities and services become cheaper. Either way, both impacts sales and profits. When sales and profits are volatile, vulnerable small businesses tend to closedown and contribute to unemployment. In order to maintain profit margins, Canadian export companies will need to improve efficiencies. Improvement may come in three ways: production streamlining, outsourcing and amortization gains. When the US dollar is low, it is the best time for companies to reevaluate tools and machinery throughput. Technology improvements will present more-efficient, more-automated processes, which can be useful in improving production efficiency. Since most equipment are bought from the US or are priced in US dollars, lower dollar exchange rates mean cheaper equipment. This is one way that exports companies to maintain profit margins by reducing production cost through efficient machines. In the same line of thinking importing services also come cheaper than when the US dollar is strong. Whether obtaining services from the US, or from East Asia, where intelligent and skilled labor is cheap, outsourcing back-end process in export production always contribute to efficiency. Though this may result to redundancies, macro effects of outsourcing prove to be positive to the bottom line. Lastly, for businesses that amortize US dollar-denominated loans, there will be gains in the amortization payment because of the weakened dollar. Furthermore, during a round-table public forum in 2004, businessmen have suggested that the Canadian government consider lowering interests rates to match that of the US. Doing so will minimize the impact of loans on Canadian dollar-based denominations despite its appreciation. Imports The stronger currency benefits importers. Consumers and businesses benefit from a better Canada-U. S. exchange rate through less expensive imports from the U. S. The depreciation of the dollar lowers import costs and, more specifically, offers cheaper capital goods, making investment in new machinery and equipment in Canada cheaper. Canadian businesses import 80% of equipment and machinery, and with these imports now more affordable, a boost to business investment can be expected. However, some argue that with the loss of revenue, investments in new machinery and equipment would not be substantial.

Advantages and Disadvantages of Childrens Use of Internet

Advantages and Disadvantages of Childrens Use of Internet Today children know how to use the internet, cell phone and know how to play video games. Technology is getting more advanced and children are becoming smarter. Childrens curiosity makes them want to know about everything, which is a good thing because this shows that children want to learn more with modern technology because it becomes natural to learn and understand easily. Childhood is about exploring and the internet changes the children’s learning and communication. From reading How Technology Makes Kids Smarterby Julie Ann, research has shown that children with access to computers early are more confident compared to the ones that used technology at a later age. The internet helps students work outside of their school and interact with others. It is important for students to have socializing skills because it helps them be more outgoing (Ann). It is important for children to spend time with their friends and family because when they need a job, they need to learn to talk professionally, but they won’t know how. The internet can help, but it’s better to be opened minded and use the internet for a good cause. The internet is a fun environment, but it depends on how you use it because being smart and socialized is important as you get older. The internet offers fast communication, for example, emails, chat services and social networking sites like Facebook, Twitter, and more. The networking sites offer socializing, but it shouldnt be necessary that people and children use the internet for socializing purposes only. Communicating through electronics continue to expand and it makes opportunities for the future.The internet is everywhere and everything is done online, for example, shopping or finding information. Many children are offering help to the elders on how to use the internet. After understanding how to use the internet, information on anything they need can be found. It is easy to access information and that has made this generation smarter than the children from the previous generations(Are Social Networking Sites Good for Our Society?). The internet is never-ending and is available 24/7. All data are available and it is well structured to make it easy to understand, which satisfies the child’s desire for knowledge without a teacher. Research studies have shown that children who use the internet are smarter and sociable compared to those who don’t use internet services. Technology has developed gradually since the last generation. Children are encouraged to use the internet for research because they understand it better and they can find detailed information on any topic. When they figure out how to use the search tools on the internet, they will be able to increase their knowledge on anything they want or need. Children today evolve fast and they are smarter than the children of the same age in the last generation and I believe that the internet is the cause of this. Computer are the best way to study because they are full of information and it is convenient for students (Ann). The internet has everything the children need to know, for example, homework, tutoring, educational videos, how-to videos and instructions on things that are difficult for us. The internet has everything that children need to know for education. If children didn’t understand something in class, they can look it up on Google. There are many reliable sites that help children learn and prepare them for tests, for example, Khanacademy.org, which is a popular website for world-class education for anyone. At school, teachers recommend students to look over specific sites to learn from. This shows that children are becoming smarter because of the internet because the internet can help with education and to help children learn what is happening around the world. All school have a computer system that is used as a research device. The internet can answer questions for curiou s children, and they can search it easily. Teachers encourage students to use reliable online sources to find information on topics. Many teachers also post online lessons that students can access during any time which is a new learning tool that was not used in previous generations. There are many children who are bored in school and do not work feel sophisticated or have an inspiration. From Five Positive Effects of Technology on Education William McCoy, children who use the internet have cognitive abilities, for example, logical problem solving. The internet has information that improves childrens learning, their knowledge and also their verbal skills. Positive effects technology has on education is by using it for research, globalization and being exposed to educational games. Many students replace their printed books with their laptop and download e-books, use the internet for research on topics they want to learn. The internetprovides knowledge, opportunities and it is a network to millions of businesses and schools. Th e internet has made a great effect on the youth by increasing their knowledge (McCoy). Personally I have learned a lot from the internet and gaining knowledge from the internet depends on the childs personality and the way they function. Some are idle and use it for sexual content while some kids would use it for learning and fun sites. It depends on the child and the parents should know their child and fix them if he/she has a problem. The children that use the internet for unimportant reasons shouldn’t ruin it for others by making the parents see only the negative part of the internet. The internet has everything and it is so much easier to find information now. It is simpler to find information and it is made faster and more convenient. From reading Its fun, but does it make you smarter? by Erica Packard, she explains how the internet is used by children every day and when researchers recorded the childrens internet use, results showed that they had higher reading test scores compared to the children who didnt use the internet. Online reading is different from traditional reading by giving children confidence and being able to get help themselves. Packard explains the difference between internet and traditional academics by saying Whats unique about the Internet as compared with traditional ways of developing academic performance skills is that its more of a fun environment. Its a play tool. You can learn without any pain. Beneficial academic outcomes may just be a coincidental effect of having a good time. (Packard). This shows that you can learn a lot from using internet information. The opposing side is that children are not smarter or more socialized because of the internet. Information is out and parents worry that it is not a safe learning environment because there are blogs full of opinions and misinformation. Instead of children doing homework on a sheet of paper, they just Google the questions for the answer. The internet is nothing but an aid for those who cannot answer questions for themselves. The internet causes laziness and it hasn’t made children smarter. The Internet provides knowledge, but children are usually playing video games instead. Even though the internet provides knowledge, doesnt mean that people will use it. The internet gives children the chance to learn certain subjects that is free and easy to access, but they don’t use it. Being lazy is not smart and the internet doesn’t give a whole information, but basic knowledge. Children become more dependent on the internet. Being smarter is not about learning information, it is the ability to face different challenges in different situations, which the internet is doing the opposite because it gives children an easy way to solve their problems. Children have become dependent on it which makes them slow and mindless. The internet has too many distraction and time is being wasted (Bator). Children have easier access to knowledge but they are not retaining information because they feel as if it is not relevant to them. Having an easy access to get answer for any question they have leaves them lazy and lack of creativity by taking someone elses answer instead of making their own determinations. Having more information does not mean being smarter. Even though the internet has a great amount of information, it doesn’t mean that the children are smarter because of it. There are a lot of opportunities to waste time and chances to learn. There are risks from socializing with strangers and criminals and the internet is responsible for changing the behavior of children, especially in the way they react and respond to their environment. Like television, the internet influences character of children. Another opposing view is that children learn depends on how they use the internet. Many children are addicted to their electronic devices than playing outside and meeting people. There are also kids hanging out with each other, but they are on their phones texting instead of talking to each other. Children also become angry if they are going through a withdrawal from technology (Woollaston). The internet is expanding and children should learn how to benefit from it. In this generation, young children already know how to use and understand the internet. It increases their learning experiences by using what were not accessible to the previous generations. Children should be encouraged to use the internet because it teaches us self-directed learning, online reading and comprehension skills. Children are smarter because of the internet and they understand it at a young age. The internet is everywhere and there is a quick adaptation to its use, for example, a two year old can take a cellphone and access the internet or get on a computer and play an online game. When technology becomes more advanced, children become smarter because their curiosity makes them search for information and understand topics. Developing online reading and comprehension skills is important because the internet is a part of our lives, and it will keep growing (Leu). Self-directed learning is when an i ndividual manages their own learning activities by finding information about anything they want to learn more about online. When a student needs a lesson they learned in class clarified, they can use the internet because it has everything they need to know.

Suicide :: essays research papers

Nobody chooses to be born but we all have the option to take our own life. Teenagers face many problems in today's society. Depression, gangs and drugs are all negative pressures on adolescents. Suicide,( a very serious issue) seems to come up more and more often. "I am depressed, ashamed of my looks, I have no friends†¦nothing," a troubled teenager would say, "Killing myself is the only solution." Is it? According to statistics, "suicide is the third leading cause of death among young people 15 to 25 years of age, following unintentional injuries and homicide". Across the country, psychologists are treating the "suicidal teenager" with counseling and even medication. Family and friends are also very supportive. But who is to say if one should live or die. When we are born we live until we die, but when is that? When you get run over by a car? Drown? Executed, or when you kill yourself? Society tends to put a lot of pressure onto those people with mental and physical disabilities. Making them feel like something is seriously wrong. Some people believe that being homosexual is wrong and all gays should be wiped of the face of the earth. Why do they believe this? Because in the way that they were raised their environment taught them that being gay is wrong. In our society today anything said or done can be easily expressed incorrectly and therefore misunderstood. There is always someone that is going to dissect and analysis each and everything someone says or does. Leaving people hopelessly misinterpreted. There is no truth in what people say the only truth is whatever you want to believe. Some people may believe that an effective way to make a statement is by committing suicide. Born only to die. What is life? Is it going to school, getting a good job, making lots of money or committing suicide? It depends on what your values and morals are. We are all going to die eventually, but it doesn't have to be now. If problems appear there is always a solution, it is your option what to do about it and killing yourself should not be an option. No one has the right to say self-murder is wrong, it may be stupid but if you select to kill yourself it is you that decides what life is. I have had a few friends who have seriously considered ending their life.

Civil War Essay -- essays research papers fc

Civil War During the American Civil War, which lasted from 1861-1865, over 620,000 accounted soldiers were killed. Known as the "the first modern war", historians generally agree that the reason for this was because this was a time of transition for the military. Armies and Navies were still using tactics where they would gather large forces of firepower to bear on the enemy. At the same time, weapons were being developed which were accurate and lethal well beyond any arms of the earlier conflicts. As a result of these two conditions many more casualties were sustained. Add to that the lack of medical knowledge of disease and infection and the numbers truly began to grow. This paper is an overview of the types of weaponry that was used during this time. Artillery generally falls into three basic categories; guns, howitzers and mortars. The main difference between them being the trajectory of the round fire. A gun has a high muzzle velocity and a very flat trajectory. Normally a gun is used in a direct fire mode where the target can be seen and penetration is desirable. Good targets for a gun would be things like brick or earth forts, ships, buildings, and targets in tree lines. Howitzers have a somewhat lower muzzle velocity and arc their shells onto a target. They are used in both a direct fire and indirect fire mode. Keep in mind with the limited range of the pieces available during the Civil War there was no indirect fire such as we know it today. Targets were generally always within the line of sight of the artillery men. This is especially useful when an enemy is concealed behind a prepared position or the artillery men desire to have a shell explode over an enemy’s head. The air-burst does less damage to hardened targets such as masonry walls, and redoubts, but causes many more human casualties due to the shrapnel covering a large area. Mortars have a very pronounced arc of flight. They have a relatively low muzzle velocity and are unsuitable for direct fire. Their principle value comes from being able to lob shells behind an obstacle such as a fort or a hill. Unlike modern mortars, those used during the Civil War were bulky devises and mounted at a fixed angle usually between 45 and 50 degrees. They were not very accurate and depended solel... ... of War suggesting that the gun be officially used by the North, but nothing was done. Later, the Navy adopted the gun in 1862 and so did the Army but not until 1866. My conclusion is that I would not want to be shot by any of these guns. They used very heavy ammunition that devastated what ever it hit. I guess that is why the American Civil War was called the bloodiest war of all time. Not only are you trying to kill your opponent, you are trying to kill a fellow American which must of been tougher. Also, if we adopted the Gatling gun, I feel that the war would of been over a lot faster than it was. To be able to fire 250 to 300 rounds in one minute is devastating. That gun was very mobile because it could be moved around by the horses because it was on wheels. I give these men lots of credit for going out there and fighting like they did. Many really did not know why they were fighting and they still fought with courage. And with a total of 620,000 casualties, a lot of men did not come home. Bibliography 1. "The Civil War", Ken Burns, 1994, tape 5, "Weapons of the Civil War" 2. "The Civil War", CD-ROM, by Mathew Brady, Rom-Man technologies,1995

Swimming :: essays research papers

Swimming Learning something new can be a scary experience. One of the hardest things I've ever had to do was learn how to swim. I was always afraid of the water, but I decided that swimming was an important skill that I should learn. I also thought it would be good exercise and help me to become physically stronger. What I didn't realize was that learning to swim would also make me a more confident person. New situations always make me a bit nervous, and my first swimming lesson was no exception. After I changed into my bathing suit in the locker room, I stood timidly by the side of the pool waiting for the teacher and other students to show up. After a couple of minutes the teacher came over. She smiled and introduced herself, and two more students joined us. Although they were both older than me, they didn't seem to be embarrassed about not knowing how to swim. I began to feel more at ease. We got into the pool, and the teacher had us put on brightly colored water wings to help us stay afloat. One of the other students, May, had already taken the beginning class once before, so she took a kickboard and went splashing off by herself. The other student, Jerry, and I were told to hold on to the side of the pool and shown how to kick for the breaststroke. One by one, the teacher had us hold on to a kickboard while she pulled it through the water and we kicked. Pretty soon Jerry was off doing this by himself, traveling at a fast clip across the short end of the pool. Things were not quite that easy for me, but the teacher was very patient. After a few more weeks, when I seemed to have caught on with my legs, she taught me the arm strokes. Now I had two things to concentrate on, my arms and my legs. I felt hopelessly uncoordinated. Sooner than I imagined, however, things began to feel "right" and I was able to swim! It was a wonderful free feeling - like flying, maybe - to be able to shoot across the water. Learning to swim was not easy for me, but in the end my persistence paid off.

An artwork is foremost a reflection and expression

It has been essentially argued since time immemorial of how an artwork is foremost a reflection and expression of the deeper emotions and values of an artist, which may sometimes be unfortunately suppressed in the artist’s life or unintentionally implied in the artwork. For that matter, any artwork is perhaps considered an artist’s personal drama set in a creative manner of expression. Sophie Treadwell’s play, Machinal, and T.S. Eliot’s poem, The Love Song of J. Alfred   Prufrock, are be fitting examples of modern human drama relatively framed in a dark, lonesome, and tragic milieu of love, death, age, solitude, and despair in the twentieth century. In Eliot’s poem, the narrator or speaker in his poem is a contemporary man who feels secluded brought by the fear of aging, and who is indecisive to act upon his crisis on love for a woman. The speaker Prufrock is rather an epitome of despair, frustration, and helplessness of the modern man toward a personal crisis. Prufrock positions himself as a symbol of disillusionment and dismay for failing to overcome his human weaknesses. What makes the poem or the speaker tragic is that his insecurity on a lot of things is holding his happiness in life and love. He remains to be brooding, dark, lonesome and awaits death in no time. Eliot has always been a difficult read, and this quality of writing has put him in the level of other literary masters. For a non-Eliot reader, the poem may initially seem confusing to understand. However, the speaker Prufrock has been endowed by Eliot the style of repeating particular phrases and going back to his main sentiment while the poem develops into a whole new set of ideas. This style is reassuring the reader that he can understand the deeper emotions of the speaker as he slowly reads through it. On one hand, this repetition may also show the speaker’s inability to communicate well with the society, and he needs to repeat words such as vision and revision to be clearly understood. Eliot possesses an ironic manner of writing that is very well implied on how Prufrock talks about his love for a woman but is coward enough to open up his feelings and of how he even contradictorily speaks of time as he would sense the urgency to capture life and love in his hands before old age and death take him away, but would also set it aside and reveal that there is still time to catch up on things. The first two similar characteristics or qualities of Treadwell’s play with Eliot’s poem are the twentieth century setting and powerful themes of death and despair, even though the former’s work is based on a sensational real murder case and the latter is more of a personal struggle brought about by aging. Machinal is also similar with Prufrock’s written image of pessimism and depression for things that they are incapable of having, but both end in different resolutions. Machinal’s main character, Helen, is unhappily married to a vicious man and yet happily having an extra-marital affair with a younger man. But, Helen being incapable of loving the younger man in the most proper ways as dictated by society’s conventions, murders her husband and releases herself from the wretched married life. In the case of Prufrock, he remains attached to his fears of opening up to his love and to the society. Machinal is as powerful and intense as Prufrock in its presentation of despair over love. Machinal is desperately consumed with two kinds of love as previously stated. What makes Helen a tragic hero like Prufrock is their disparate heroism takes them not into the world of admiration, but into a world of utmost dismay and desperation – theirs is a tragic presentation of surrender to an inescapable human obstacle of frustrating emotions. Treadwell is capable of repetitive rhythm like a strange poem – a quite tricky concept like Eliot – yet incorporated the theatrical lingo of any expressionistic writing during the twentieth century. To say expressionistic is to only define the attributes of human emotions, not necessarily placing it into an approach of realism. But, moreover, Machinal is an engaging, dark display of human wickedness doomed like Prufrock’s love song. Works Cited Treadwell, Sophie. Machinal (Royal National Theatre). London: Nick Hern Books, 1995. â€Å"T. S. Eliot: The Love Song of J. Alfred Prufrock.†

Multinational Enterprises (MNE)

This paper takes the position that Multinational Enterprises (MNEs) do improve rather than exploit foreign labor’s working conditions on the ground that globalization has been adopted by more countries, and that this must be deemed to have s resulted to more benefits for the workers of these countries who wanted these MNEs to come in to their countries. The increasing number of countries who want to join the WTO further proves that MNE could thrive to help the economies and working conditions of many. This paper will support with evidence the above thesis by leaning on the positive view of the coin that it is more plausible for multinationals in particular to do good rather than exploit the working condition of foreign countries. When more countries adopt globalization (Editorial, 2000) as economic strategy by joining the WTO, MNEs are in effect encouraged to do more of their business across countries. To argue otherwise that globalization will discourage MNE is simply against theory and human experience. If WTO has the objective of less restricted economic ties among members, more trade investment liberalization is also expected. This would be consistent with what   BIAC (2003) claimed that trade and investment liberalization foster economic growth, creates wealth and improves labor conditions, and will also end up in a better division of labor between countries based on comparative advantage.   Liberalization will in turn promote a focus on productivity improvement, management skills and facilitates integrated links to markets (BIAC, 2003) since globalization encourages the growth of foreign direct investment (Kumar N. and Pradhan J.P., 2002). Countries that have more MNEs have resulted to more benefits for the workers of said countries.   The existence of MNE in different countries as evidenced by more foreign direct investments (Hansen H. and Rand J. ,2004) are also proofs of continuing trust of host governments for the   beneficial effects of MNEs in terms of more employment opportunities and better lifestyle of those working in MNEs than their local counterparts. Given these two arguments and their corresponding proofs opposing persons of globalization have their criticism as discussed below. It is being claimed by people who oppose globalization that multinational national enterprises exploit labor in poor countries.   Bhagwati (2005) mentioned the fact that anger has been aroused by the supposition that rich, deep-pocketed corporations pay   unjust or inadequate wages to their workers outside their home country and that these MNE are even branded as labor rights violators (Bhagwati, 2005).   The line argument of the critics is centered on the assertion that that if a certain branded product   sells for $200 in New York, the female worker or laborer abroad who sews it and for which the MNE paid   only 60 cents an hour, exploitation was already believed to be found. A reasonable mind would readily see the flaw in the argument as there was no forcing on the part of the MNE to have the female laborer to do the work at 60 cents per hour.   It was a free market where a typical entrepreneur would like to produce a product at a lower cost.   If the business entity is not an MNE, would there be no exploitation also?   The critic’s argument simply appears faulty in the crucible of common sense.   Could it be that MNE which can move its goods across countries that solidifies the exploitation?   Said argument would be faulty as well since it must be made clear that the MNE still has to spend transportation cost, distribution cost and even tariff duties in bringing the goods from third world country to the United States. To further prove the lack of merit of the claim that MNEs pay their workers only minimal   wages,   Bhagwati (2005) cited a recent study of the profits performance of more than two hundred   companies in the 1999 Fortune Global 500 list which a very minimal profit on foreign assets of only 8.3.   This means that the foreign companies may just be earning just same or a little above their cost of capital. In countries where there are strong political and economic risks, the 8.3 % could should still be reduced by inflation factor and this could make it lower than the price of just simply making investment in the US treasury bills which ranges about 4 to 5%.   It is therefore very hard to see the evidence of exploitation if the it meant the huge profit despite against low labor costs in poor countries. Another evidence cited on wage payments were on good empirical studies that have been conducted in Bangladesh, Mexico, Shanghai, Indonesia, Vietnam, and else where these studies revealed that that multinationals actually pay an average wage that is above the going rate in the area where these MNE are located.   It was also found that affiliates of some U.S. multinationals pay a higher rate over local wages that ranges from about forty to a hundred (Bhagwati ,2005). In another cited Bhagwati, (2005) cited confirmatory result from that of the economist Paul Glewwe, using Vietnamese household data for 1997-98, Glewwe found that workers in foreign-owned enterprises generally make almost twice the salary of the average worker employed by a local Vietnamese company. What comes out of the comparison made by critics on wages simply misread that needed to be compared.   Comparing the salary of a worker in the US with the counterpart worker in another of less economic status is simply faulty.   A better comparison is to be made by comparing the life style of an MNE worker than its counter part local worker since the advantage or disadvantage could only be felt in said place.   This was seems to be framework of Glewwe’ finding when the economist   pointed out that 1990s increases in Vietnam’s household income using per capita consumption expenditures as basis of measurement were above the   average increases for all Vietnamese households. (Bhagwati,2005) There are also accusations that global corporations violate labor rights.   Bhagwati(2005) reported that case of where anti-globalization activists having sometimes made and announced lie as in the case of IKEA which was accused of exploitative child labor by its suppliers but was latter found by a German film which has documented that the abuse was simply create by activists.   (Bhagwati ,2005).   Added to the example of faking by activist was the claim â€Å"that the chocolate sold in rich countries relies on slave labor by children in the cocoa plantations of the Ivory Coast† where is found that the stories and charges   were false. A more objective analysis of the claims and their arguments would reveal the weakness of these claims against MNE.   The lack of employment opportunities for poor countries has actually the government of these poor countries to open up their economies.   Opening up their economies allow their labor laws to be flexible enough to allow Men’s to complete in the global market (Samuelson and Nordhaus, 1992). To conclude, there is basis to uphold the thesis of this paper as we have proven that the arguments claimed by those who oppose globalization are bereft of evidence or some of these evidences may have been manufactured to their own arguments.   Multinational enterprises do not impose their entry upon other poor countries as they are being invited to come into by the other countries act joining the WTO.   Such voluntary joining will carry the presumption that these MNE promotes employment generation and help in the economic growth of the countries opening up their economies rather exploit the working conditions of said countries. References: Adewumi (2006) The Impact of FDI on Growth in Developing Countries an African Experience, {www document} URL www.diva-portal.org/diva/getDocument?urn_nbn_se_hj_diva-711-1__fulltext.pdf, Accessed June 6, 2007 Bhagwati, J. (2005) Do Multinational Corporations Hurt Poor Countries?   {Www document}   URL, http://www.taemag.com/issues/articleid.18014/article_detail.asp, Accessed June 6, 2007 Business and Industry Advisory Committee to the OECD (BIAC), (2003) G8 Labor and Employment Ministers Conference â€Å"Growth and Employment: The Future of an Active Society in a Changing World† Statement of the Business and Industry Advisory Committee to the OECD (BIAC), Stuttgart, Germany, December 14-16, 2003, {www document} URL http://www.biac.org/statements/elsa/Final_2003_G8_Stuttgart_BIAC_Statement.pdf, Accessed June 6, 2007 Editorial (2000) Merged with Tide of Economic Globalization, People’s Daily Online, {www document} URL http://english.people.com.cn/english/200002/01/eng20000201A106.html, Accessed June 6, 2007 Hansen H. and Rand J. (2004) ‘‘on the casual link between FDI and growth in developing countries’’.   Discussion papers, Institute of Economics, University of Copehagen.   Denmark Kumar N. and Pradhan J.P. (2002) ‘‘Foreign direct investment, externality and economic growth in developing countries: Some empirical explorations and implications for WTO negotiations on investment’’ Research and information system, New Delhi India. Samuelson and Nordhaus (1992), Economics, McGraw-Hill, Inc, London, UK