Today, gas prices as a national average have risen to 2.1 dollars per gallon. This is the highest gas price increase since 1990, during operation desert storm. What is the cause of this drastic increase in gas prices? Limited supply of crude oil from the Middle East some say. Others think the cause is high trade tariffs on incoming foreign oil. But what is the solution to this problem? Is it drilling in our national wildlife reserves in Alaska? Dropping the trade tariffs and promoting free trade around the world? Perhaps we should look for alternative energy sources; maybe even a combination of all three. But whatever the solution, it needs to be done quickly. America’s gas prices are becoming so outrageous that it is becoming more and more likely that our economy will fall into a depression, and our world, so dependent upon gas for transportation, is in danger of losing the luxuries that we take for granted. Something needs to be done now. Continue Reading »

Dating back to the Qing Dynasty, the popular assumption among the Chinese was “that China was the “central” kingdom and that other countries were, by definition, peripheral, removed from the cultural center of the universe. The Chinese, therefore, showed little interest in precise information or detailed study of foreign countries” (Spence, 119). The Qing seemed uninterested in any foreign gains to be made due to this superior view of themselves. The Emperor Qianlong’s approach as mentioned in The First Edict of September 1793 seemed to be, “We possess all things. I set no value on objects strange or ingenious, and have no use for [other] countries manufacturers” (Cheng, 104-106). Emperor Qianlong believed that both China and foreign governments had little to gain though trade. China has long had a policy of isolation from western powers, to the extent that a force of anti-foreign nationalism arose to the forefront for the majority of Chinese modern history. Continue Reading »

Economic term papers are of many kinds and are written for various aspects of economics such as economic factors, economics stability, economic policies, economic growth, state of economy, economic reforms, economic volumes, economic strategy, economic planning economic programs, domestic economic situation, elements of economics, economics deviation, economy division, socioeconomic policies, economic propensity and industrial development, economic causes, macroeconomics, microeconomics and many others. For all kinds of economics term paper topics, economics term papers are assigned to students who are expected to write exceptionally well on those topics according to their gained knowledge and information related to economic term papers. At that time, the question asked by the students is how to write an economics term paper. For example, your are asked to write an economics term paper keeping in view the economic factors involved in slow economic growth in an underdeveloped country. You will include information such as problem of population explosion, inadequacy of transport and credit system, backward agriculture, lack of capital, lack of technical know-how, lack of effective demand and unbalanced economy in your term paper on economics. Continue Reading »

India, as a country with immense resources available through it’s length and breadth, has enabled it to gain a foothold in the major and the not so major economies of the world.

The objective of this brief paper is to highlight the immense and diverse sources of Indian trade with all the major regions and countries of the globe spanning right from the Americas, the UK and other European Union countries to the Middle Eastern nations to China as well as to the South East Asian tiger economies . Continue Reading »

After the civil war, the fundamental task of the Central Government was to adopt a proper policy of reconstruction and re-union with a view to strengthening the American Federation. But due to various reasons, the task was a complex one.

The sad assassination of President Lincoln made it amply clear that the fanatics were strongly opposed to a progressive policy. He, indeed, had hated slavery and desired its abolition. But he actually fought for Union and not for the emancipation of the slaves as such. His primary purpose was to protect and preserve the unity of the Federation by thwarting the disintegrating attitude of the South. Continue Reading »

Beat Buy Company is the largest retail company, originated in United States. It was established in 1966 with the name “Sound of Music” and because of some natural disasters it renamed to “Best Buy Company” in 1983.

“The company opened its first store in 1966, and called it “Sound of Music”. After a tornado hit one of its stores in Roseville, MN, it held a “tornado sale”,  and later reopened in 1983 under a new corporate name, Best Buy.” (Matthew Kemp)

The company is dealing in electronic items i.e. Entertainment software, Office products and other electronic products. It’s capturing a big market share in the financial world. From 1983 the company is operating in United States as well as in Canada. In last few years they expanded their business and made it globalize through launching it in the market of China. Continue Reading »

In the post-Cold War era, the game of international politics has shifted from the one-upmanship tangles of the two Blocs to the unilateralist hegemony of the US, brought to clear light by the global events unfolding in the wake of 9/11.

In this scenario, it would be foolhardy to postulate that a developing nation can have an equal relationship with a superpower (read US). At best, the former can tweak the terms of engagement a bit to allow itself the space to hold negotiations on a more level footing.

Consider US President George Bush’s upcoming India visit. The one aspect that will determine its success or failure is the Indo-US civilian nuclear deal. The UPA government’s handling of this issue is a fine hook on which to hang my argument. Continue Reading »

In his extensive analysis of the history of China (spanning the twelfth century to the mid twentieth), China Transformed: Historical Change and the Limits of European Experience, Chinese historian Roy Bin Wong thoughtfully crafts a non-Eurocentric framework for analyzing developments in the country. This is in stark contrast with the majority of historians who still attempt to place the Industrial Revolution in a European context from which the progress (or lack of expected progress) of all other countries must be judged. In fact, Wong proposes that what occurred in China cannot be described as a revolution but was merely the continuity of pre-industrial change. Whereas most historians try to define Chinese history by a comparison of it with European history, Wong takes the opposite side and attempts to show what European historians can learn from an objective study of Chinese history. Wong’s work could accurately be described as a hermeneutic story rather than a simple narrative. Continue Reading »

What are the Costs and Benefits of U.S. Economic Sanctions?

Before moving on it’s important to start by defining the meaning of economic sanctions. The Concise Oxford Dictionary defines sanctions as penalties that are applied by one or a group of countries on another for various reasons. Sanctions come in the form of tariffs, import or export quotas, trade barriers and import duties.

Economic sanctions rarely work. The US and some other UN countries Trade and investment sanctions against Burma, Iran, cuba, and North Korea have failed to change the behavior of any of those oppressive regimes; sanctions have only made the situation of the very people being helped worse. We should remember that for a country to impose sanctions on another there is always a good reason behind it – usually motivated by political, trade or security differences and concerns. The imposing country/ countries rarely listen or are ready to share the same viewpoint and perspectives as the accused. These hardened stances often lead to a protracted feud that can last years and decades. A good example of this is the US relationship with Cuba. The US has lost many opportunities of winning this Caribbean Island nation over to itself due to this long standing indifference perfected by successive regimes since the 1960s. Continue Reading »

The World Trade Organization is founded on the principle of comparative advantage, well recognized by the Modern economists, that different countries enjoy absolute advantage in the production of different goods, since they are differently gifted by the nature: it may be expensive to produce certain goods and cheaper to import. A country may have greater comparative advantage in the production of certain goods over the others.

This classical theory of economics took its practical shape in the manifesto of W.T.O which transcends all barriers imposed by the nations and emphasizes the functioning of free trade amongst the nations. Then why the feeling of unease and protests against the W.T.O which are not based on unfounded fears, but some facts of the underdeveloped nations manifest the circumstances apparent in the economic scene of their lives. The disagreements do not arise by the global trade but by the resultant affects of the globalization and the very rule of the body governing the W.T.O. if we understand the arguments of the both sides we can solve maladies believed to be caused by the W.T.O. Continue Reading »