Free Trade and Developing Countries Essay Example | Topics and Well Written Essays - 2000 words

Free Trade and Developing Countries - Essay Example Therefore, the notion that increasing the volume of commerce by promoting free trade would spur economic development is not applicable to all countries, especially in the developing world. This paper examines the various reasons why free trade is appropriate for promoting economic development in particular developing countries. Free trade provides more opportunities of accessing international resources in both developing and developed economies. However, unregulated access to international markets, especially of developing economies is disastrous to development and sustainability of local industry in these nations (Wilber and Jameson 1992). Therefore, for countries to reap maximum benefits of globalisation, they must device appropriate trading practices that encourage expansion of trade, while protecting the local industries at the same time. Free trade presents several benefits to developing countries. Some of the benefits include availability of cheaper and high quality commodities in the market due to increased competition. Globalisation promotes specialisation where countries specialize in large-scale production of goods and services (Barro, 1997). According to Barro (1997, p19), specialisation lowers the cost of production because the countries concentrate on production of goods and services that they can produce cheaply and more efficiently for the mass market. In addition, free trade promotes competition in the international market, which eventually benefits the consumers. According to Walter and Snyder, (2007), competition at international level compels companies to reduce the costs of their products and improve the quality in order to enhance competitiveness of their products in the market. The competition encourages innovation and adoption of more efficient technology in addition to encouraging more efficient use and management of the available resources. Therefore, free trade discourages entrenchment of monopoly in the global market. Trade monopoly c auses several adverse effects in the market, including high prices, low production and reduced quality of goods and services produced (Colman and Nixson 1986). Market expansion is another important benefit of free trade to developing countries. Industrial growth and development is usually undermined by a constricted market. According to Bates (1981), limited market especially in least developed economies undermines division of labour, which ultimately leads to low production. Free trade encourages adoption of modern technology especially in developing economies that mostly rely on traditional methods of production, limiting mass production of goods and services (Bienen and Jeffrey 1996). In spite of the existence of free trade for a considerable time, developing economies still lag behind in utilization and adoption of modern technology in production. This undermines economic development and flow of capital in developing economies (Collier, 2008). In spite of the apparent advantages of globalisation to developing economies, free trade has negatively affected the economic growth of these countries in various ways. First, free trade promotes large scale and unsustainable utilisation of the available natural resources in the country (Blanchard 2008). Some of the natural resource includes mineral deposits, such as gold, diamonds, oil, copper and platinum among other valuable

Antipredator Defense as a Limited Resource : Unequal Predation Risk and

INSECTS WITH PARENTAL INSTINCTS More than two centuries ago, a Swedish scientist named Modeer described what appeared to be maternal behavior in the acanthosomatid shield bug Elasmucha grisea. He noted that the female did not fly away when an intruding object threatened her compact egg mass; instead, she remained steadfast and tilted her body towards the object (Tallamy). Unfortunately, this evidence, no matter how well documented, was not enough to convince countless people of the possibility of insects having parental instincts. The acknowledgement of parental behavior in insects was not a widely accepted idea for a number of years. Many people believed insects were too primitive to care for their young and that only when physical conditions became extremely severe were insects capable of expressing paternal abilities. The traditional view of maternal care is that it is an exceptional and relatively recent evolutionary leap forward (Tallamy). Fortunately, the assumptions made about maternal care in insects do not have to be accepted or rejected based only on faith or an educated guess; today it is possible for these predictions to be empirically tested so that the data may be recorded and analyzed. The following experiment is just one example of the various ways in which ideas regarding insects and maternal care may be effectively evaluated. Reginald B. Cocroft, of the Neurobiology and Behavior Department at Cornell University in Ithaca, New York, researched insects known as Umbonia crassicornis, or the thornbug treehopper. U. crassicornis offspring thrive in large aggregations on the often exposed stems of host-plants. These offspring are incredibly vulnerable, making them easy targets and subject to intense predatio... ...ymphs unequally. The mother distributed her protection equally throughout the entire aggregation along the length of the branch. Main Points: Location in relation to the mother is possibly competitive Location independent of the mother is possibly competitive, but only exploitation competition Signaling is not competitive for maternal care, it is cooperative and the mother distributes protection along the aggregation equally. WORKS CITED Cocroft, Reginald B. 2002. Antipredator Defense as a Limited Resourse: Unequal Predation Risk and Broods of an Insect With Maternal Care. Behavioral Ecology, 13, 1, 125-133. Tallamy, D. W. and C. Schaefer. 1997. Maternal behavior in the Hemiptera: Ancestry, Alternatives, and Current Adaptive Value. pp. 94-115, In B. Crespi and J. Choe (eds.). Social Behavior in Insects and Arachnids. Cambridge University Press, Cambridge.

South Korean Economy Analyzed

South Korea in recent decades has been one of the most dynamic economies in the world. Over the period from 1965 to 1990, the rate of growth of per capita GNP was greater than that of any other country in the world (Watkins 1999). Major Korean enterprises such as Lucky Goldstar and Samsung are now common household brand names all over the world. As well, Hyundai and Daewoo, the two leading South Korean auto manufacturers, both offer products that are able to compete on the worldwide market along with other major car producers. In analyzing the South Korean economy, it is important to look at the various factors behind this remarkable success story. The boom and rapid expansion of the Korean economy is due largely in part to the radical changes and new policies introduced under the Park Chung Hee government of 1961-1979. Significant new economic policies included reinforcing the system of chaebol, creating a policy of import substitution with an export-led approach, fostering the development of industries designed to compete effectively in the world's industrial export markets, nationalizing the banks, as well as working on to educe Korea's large external debt. It is these policies, introduced throughout the 1960's and 70's, which caused a future boom in South Korea's economy and continue to influence it at the present day. One extremely important aspect of the South Korean economy is the concept of chaebol. Fathered by Park Chung Hee in the early 1960's, chaebol are conglomerates of many companies clustered around one holding company. The parent company is usually controlled by one family. It started off as a few specially selected large firms encouraged to tailor their growth and production targets to meet South Korean government objectives and were dependant on state-owned banks for the credit they needed to operate and grow. Government-chaebol cooperation was essential to the subsequent economic growth and astounding successes that began in the mid-1960's. The chaebol were able to grow because of two factors – foreign loans and special favors (Song 1997). Access to foreign technology also was critical to its growth throughout the 1970's and 80's. Under the guise of â€Å"guided capitalism†, the government selected companies to undertake projects and channeled funds from foreign loans. The government guaranteed repayment should a company be unable to repay its foreign creditors. Additional loans were made available from domestic banks. In the late 1980's, the chaebol dominated the industrial sector and were especially prevalent in maufacturing, trading, and heavy industries. Today, the chaebol remains the backbone of South Korea's economy. Examples of chaebol include Samsung, Daewoo, and Goldstar. To give an idea to how successful and powerful this economic concept evolved into, in 1983, the country's three largest corporations, all under the chaebol system, accounted for over a third of South Korea's entire Gross National Product (Ibid, p63). The 1960's saw the reduction of U. S. aid to South Korea, aid which had largely kept the country afloat for the past decade following the Korean War. This made feasible the import substitution strategy the Park Chung Hee government had established. Combining a policy of import substitution with an export-led approach, government policy planners selected a group of strategic industries to back, including electronics, shipbuilding, and automobiles. New industries were nurtured by making the importation of such goods difficult. When the new industry was on its feet, the government worked to create good conditions for its export. Incentives for exports included a reduction of corporate and private income taxes for exporters, tariff exemptions for raw materials imported for export production, business tax exemptions, and accelerated depreciation allowances (Kim 1997). This strategy was largely responsible for establishing Korea's strong export-led industries that exist today. Favorable conditions mean that there will always be a demand for their product, both domestically and overseas. In the latter part of Park's reign as president, he fostered the development of industries designed to compete effectively in the world's industrial export markets. These major strategic industries consisted of technology-intensive and skilled labor-intensive industries such as machinery, electronics, and shipbuilding. The plan stressed large heavy and chemical industries, such as iron and steel, petrochemicals, and nonferrous metal. As a result, heavy and chemical industries grew by an impressive 51. 8 percent in 1981 (Amsden 1992); their exports increased to 45. 3 percent of total output (Ibid, p103). These developments can be ascribed to a favorable turn in the export performance of iron, steel, and shipbuilding, which occurred because high-quality, low-cost products could be produced in South Korea. By contrast, the heavy and chemical industries of advanced countries slumped during the late 1970's. This strategy helped to establish South Korea's economic role as a major worldwide industrial exporter, even in a time of turmoil created by the OPEC debacle. It was a plan that was carried right through the 1980's and well into the 90's by successive governments, who recognized its formula for success. When Park took control in 1961, one of his first orders of business was to extend government control over business by nationalizing the banks. As well, he merged the agricultural cooperative movement with the agricultural bank. The government's direct control over all institutional credit further extended Park's command over the business community. The Economic Planning Board was created in 1961 and became the nerve center of Park's plan to promote economic development (Kearny 1991). The Board exists to this day; it is charged primarily with economic planning, as well as coordinating the economic functions of other government ministries. The Bank of Korea continues to exist as a government-controlled financial institution, operated by the Ministry of Finance. In 1975 South Korea was the fourth largest debtor among developing countries with external debt totaling nearly $47 billion U. S. (52 percent of GNP) (Kim 1997). The Park government used its substantial current account surpluses between 1976 and 1979 to reduce and even repay its foreign debt. South Korean banking institutions were banned from obtaining long-term bank loans until the end of the year. The government also reduced the availability of foreign currency loans. This strategy worked, and as a result, South Korea's gross foreign debt dropped to $29. billion U. S. in 1979 (Ibid, p. 74). The dramatic reduction of the debt by the Park government established a solid groundwork for economic growth and expansion by successive governments in the 1980's and 90's. Today, South Korea has in place solid debt management policies and has graduated from its status as a World Bank loan recipient. In analyzing the South Korean economy, it is not hard to see why it has developed into the world's 11th largest economic system (Song 1997). The truth is in the numbers. During the 1970's, some estimates indicate, Seoul had the world's most productive economy. The annual industrial production growth rate was about 25 percent (Ibid, p131); there was a fivefold increase in the GNP from 1965 to 1978 (Ibid, p131). In the mid-1970's, exports increased by an average of 45 percent a year (Ibid, p132). Today, it is a major exporter of electronics, heavy machinery, and automobiles. The remarkable success of this dynamic economy can be attributed to the radical new economic policies and changes brought about by the Park Chung Hee government of 1961-1979. Significant new economic strategies included developing the system of chaebol, creating the import-substitution policy, fostering the development of industries designed to compete in the world's industrial export markets, nationalizing financial institutions, as well as working on to reduce South Korea's large external debt. Successive governments continued to implement these policies and many are still in place today. South Korea is definitely an economic powerhouse to be reckoned with, and the world may still have yet to feel the wrath of this Asian Tiger.

The Concert Hall At The University Of Evansville Hushed

The audience in Wheeler Concert Hall at the University of Evansville hushed as the conductor tapped his baton on the music stand in front of him. Raising both hands in the air, scanning the performers of the orchestra to make sure everyone had their instruments in place and appeared ready, he took a quick breath to cue the orchestra to start playing. Out of the many concerts that I have attended throughout my lifetime, especially since becoming a music student studying music, this particular concert was different. I found myself listening for musical aspects that may have come from different cultures. I don’t think I would have been so interested in this before I had taken the course, Seminar in World music. In this classe we studied†¦show more content†¦at the University of Evansville. Everybody has the natural capacity to comprehend and appreciate music. There are numerous hypotheses as to why this may be, yet it has turned into a fundamental piece of people. People have communicated through music since the beginning of time. Some even think that music came before the spoken language. Straight forward tribal rhythms developed into numerous sorts of more intricate music, including traditional shake, jazz, and RB, while the styles between these numerous sorts of music may differ. In Seminar in World Music, we explored the basic development of music in the different cultures. In this class, we explored music throughout the world. Each culture has its own unique evolution, and this class gave us an introduction to 11 different cultures and the development of the music in that area of their musical forms. Music of China, Japan, Europe, Latin America, Sub-Saharan Africa, Middle East, The Caribbean, Indian, and Native America are some of the different cultures that we focused on throughout the course of the semester. The history and development of the music in these different cultures have influenced Western art music as we know it today. After completing Seminar in World Music, I have realized how important it is for music students to familiarize themselves with music from different cultures.