The Theory and Implementations of The Balance of Payments (BOP) :: Economics

The Theory and Implementations of The sense of balance of Payments (BOP)To develop countrys stinting persuasiveness under the tendency ofglobalization, governments always seek to achieve two macroeconomicobjectives, i.e. stable growth of internal economy and balanceddevelopment of external economic activities. The former can berealized by effectively adjusting Economic Growth, Unemployment andInflation. However, how to realize the latter? An externalmacroeconomic variable is needed. In practice, the Balance of Paymentsfulfills this responsibility. (A). Balance of Payments (BOP used in following text), in principle,is a record of the countrys proceeding with the rest of the world.It shows the countrys payment s to or deposits in other countries(debits) and its receipts or deposits from other countries (credits)1.The BOP history2 also shows the balance between these debits andcredits under various headings, which are categorized into the up-to-dateAccount, the Capital Account and t he Financial Account, which composethe main elements of balance of payments.The Current Account largely measures flow of real resources includingexports and imports of goods and services, income receivable andpayable abroad, and current transfers from and to abroad. It is ordinarily divided into three subdivisions (Figure 1).Trade in goods account (often as the trade balance)The total value of exports of goods, subtracting the total value ofimports of goods.Trade in services accountImports and exports of services, such as banking and insurance,transport services, law, accountancy, management consultancy andtourism.Investment incomesInterest, profit and dividends flowing into and out of the country.Transfers of moneyTwo sectors government transfers and transfers made by other sectors. administration transfers include contributions to internationalorganisations (e.g. UK to EU budget) and foreign aid. The othersectors section many highlights the transfer of assets by individualsto fore ign bank accounts.The Capital Account measures external transactions in capitaltransfers, and in acquisition or disposal of non-produced,non-financial assets, which include land and subsoil assets, patentsand copyrights etc. Capital transfers are transfers of ownership of a persistent asset or the forgiveness of a liability.The Financial Account records transactions in financial assets andliabilities between residents and non-residents. It shows how aneconomys external transactions are financed. Transactions in thefinancial account are classified into direct investing, portfolioinvestment, other investment, and reserve assets3 (Figure 2).Direct investmentMoney flows across national boundaries for the purpose of investingand it is therefrom either a credit or a debit item.Portfolio investmentChanges in the holding of paper assets, such as company shares andbonds.Other investmentIt comprises loans, currency, deposits, and short and long-term tradecredits, financial derivatives and o ther accounts receivable andpayable.Reserve assetsThis refers to the reserves of gold, special drawing rights (SDRs) and

Relationships Between Men and Women in The Winters Tale by William Sha

Relationships Between Men and Women in The Winters Tale by William Shakespeare The Winters Tale was compose in 1611, during the reign of Queen Elizabeth I. The play is one of Shakespeares romance titles, though it could be more justly referred to as a tragi-comedy due to the instances of accusation, death, repentance and reunion. To successfully study how Shakespeare presents relationships between men and women in The Winters Tale there are four main relationships to examine - Hermione and Leontes, Paulina and Antigonus, Perdita and Florizel, and Leontes and Paulina. Shakespeares view of women, and generally the Elizabethan view, suggested that women had less qualification for evil - can only assist in a mans corruption or downfall, evidence for this can be found by examining particular types of literary productions from this period, such as T.E. (?)s didactic The Laws Resolution of Womens Rights. Likewise in The Winters Tale, only to a lesser extent, w omen can be seen as temptresses. Hermione was the supposed adulteress in The Winters Tale. Many would argue that Shakespeare depicted the condition of women within a patriarchal system and created female characters, which in their richness transcend the limitations of his time. Shapiro, for example, goes so far as to claim that Shakespeare was the noblest feminist of them all. Though Shakespeare pays more attention to the roles that men play in society and many of the female characters are constricted in their experiences. They do not have the same ability to be as fully human as the men. They do not learn by their experiences, except Paulina who is last chastised and pa... ...sion. It could be argued that Shakespeare only goes so far with the gender roles - the women are eventually silenced or pacified - because the suspension of disbelief can only be keep so far - the traditional view of women was confined within rigid boundaries. In The Winters Ta le all the women are badly treated - incidentally, at the work force of men. Our perspective of the actions of the men we believe to be harsh, though to Shakespeares contemporaries they were likely to be reassert - in fact chastisement would probably be justified to a more brutal extent. There is however little authentic evidence in the plays, that Shakespeare strove either to uphold or to subvert, however covertly, the established order. flora CitedShakespeare, William. The Winters Tale. Ed. J. H. P. Pafford (London Methuen, 1963).