Foreign Direct Investment: An Overview Essay

What is Foreign Direct Investment? Foreign direct investment (FDI) is defined as a long-term investment by a foreign direct investor in an enterprise resident in an economy other than that in which the foreign direct investor is based. The FDI relationship consists of a parent enterprise and a foreign affiliate which together form a transnational corporation (TNC). In order to qualify as FDI the investment must afford the parent enterprise control over its foreign affiliate. The UN defines control in this case as owning 10% or more of the ordinary shares or voting power of an incorporated firm or its equivalent for an unincorporated firm. Understanding Foreign Direct Investment Foreign direct investment (FDI) plays an extraordinary and growing role in global business. It can provide a firm with new markets and marketing channels, cheaper production facilities, access to new technology, products, skills and financing. For a host country or the foreign firm which receives the investment, it can provide a source of new technologies, capital, processes, products, organizational technologies and management skills, and as such can provide a strong impetus to economic development. Foreign direct investment, in its classic definition, is defined as a company from one country making a physical investment into building a factory in another country. In recent years, given rapid growth and change in global investment patterns, the definition has been broadened to include the acquisition of a lasting management interest in a company or enterprise outside the investing firm’s home country. As such, it may take many forms, such as a direct acquisition of a foreign firm, construction of a facility, or investment in a joint venture or strategic alliance with a local firm with attendant input of technology, licensing of intellectual property, In the past decade, FDI has come to play a major role in the internationalization of business. Reacting to changes in technology, growing liberalization of the national regulatory framework governing investment in enterprises, and changes in capital markets profound changes have occurred in the size, scope and methods of FDI. New information technology systems, decline in global communication costs have made management of foreign investments far easier than in the past. The sea change in trade and investment policies and the regulatory environment globally in the past decade, including trade policy and tariff liberalization, easing of restrictions on foreign investment and acquisition in many nations, and the deregulation and privatization of many industries, has probably been the most significant catalyst for FDI’s expanded role. The most profound effect has been seen in developing countries, where yearly foreign direct investment flows have increased from an average of less than $10 billion in the 1970’s to a yearly average of less than $20 billion in the 1980’s, to explode in the 1990s from $26.7billion in 1990 to $179 billion in 1998 and $208 billion in 1999 and now comprise a large portion of global FDI. Proponents of foreign investment point out that the exchange of investment flows benefits both the home country (the country from which the investment originates) and the host country (the destination of the investment). The push factors indicate the benefits to the investors and the pull factors to the host countries. First, international flows of capital reduce the risk faced by owners of capital by allowing them to diversify their lending and investment. Second, FDI allows capital to seek out the highest rate of return. Third, FDI helps to expand market. For the host countries, it can contribute to the general development as well as to the poverty reduction objective in a variety of ways. Major benefits to host countries are as follows: †¢ FDI allows transfer of technology—particularly in the form of new varieties of capital inputs—that cannot be achieved through financial investments or trade in goods and services. FDI can also promote competition in the domestic input market. †¢ Recipients of FDI often gain employee training in the course of operating the new businesses, which contributes to human capital development in the host country. †¢ Profits generated by FDI contribute to corporate tax revenues in the host country. Thus, it contributes not only to the direct source of investment but also to the government revenue. †¢ FDI helps to integrate the host countries economy to the global economy. Determinants of FDI FDI is the investment decision of profit-maximising firms facing world-wide competition and where significant differences in cost structures (due to say, factor productivity, wage differential) justify cross-border investment and production. a. Institutional features of the host country: degree of political stability and government intervention in the economy; the existence of property law legislation; the property and tax system; adequate infrastructure, etc. b. Economic factors: trade and investment regime; the degree of â€Å"openness† of the host countries, the absorptive capacity and growth prospects of the host country; fix and variable costs of production relocation; the degree of monopolistic competition which prevents the entry of other (domestic and foreign firms; general macroeconomic performance (inflation, monetary and fiscal policy) etc. c. Policy related factors: Fiscal (tax rebates and exemptions) and financial incentives (subsidized loans), laws that restrict FDI in certain sectors on the ground of political sensitivity of certain industries (oil, broadcasting, etc.); policy that restricts the degree of foreign ownership, (temporal or permanent) the remittance of interest, dividends and fees for technology and the shares allowed to foreign -owned firms through limits on capital repatriation, minimum investment, etc. d. Characteristics of the labor force: education, skills, etc. Some features of world FDI activity a. The sharp increases in world FDI activities that started after 1985. b. Increased activity and concentration of FDI. Indeed, in the 1990s, FDI has become one of the most important sources of external finance in developing countries. USA has become the largest host country in international capital markets, receiving capital from both Japan and Europe. Japan has emerged as a major home country of FDI outflows. c. Developing countries have liberalized financial markets and offered special incentives (lower taxes, subsidies for infrastructure, etc) to attract FDI in the hope of acquiring technological transfer, know-how, and in general, positive externalities. Basic types of FDI  · Greenfield investment: direct investment in new facilities or the expansion of existing facilities. Greenfield investments are the primary target of a host nation’s promotional efforts because they create new production capacity and jobs, transfer technology and know-how, and can lead to linkages to the global marketplace. However, it often does this by crowding out local industry; multinationals are able to produce goods more cheaply (because of advanced technology and efficient processes) and uses up resources (labor, intermediate goods, etc). Another downside of greenfield investment is that profits from production do not feed back into the local economy, but instead to the multinational’s home economy. This is in contrast to local industries whose profits flow back into the domestic economy to promote growth.  · Mergers and Acquisitions: transfers of existing assets from local firms to foreign firms takes place; the primary type of FDI. Cross-border mergers occur when the assets and operation of firms from different countries are combined to establish a new legal entity. Cross-border acquisitions occur when the control of assets and operations is transferred from a local to a foreign company, with the local company becoming an affiliate of the foreign company. Unlike greenfield investment, acquisitions provide no long term benefits to the local economy– even in most deals the owners of the local firm are paid in stock from the acquiring firm, meaning that the money from the sale could never reach the local economy.  · Horizontal Foreign Direct Investment: investment in the same industry abroad as a firm operates in at home.  · Vertical Foreign Direct Investment: Takes two forms: 1) Backward vertical FDI: where an industry abroad provides inputs for a firm’s domestic production process. 2) Forward vertical FDI: in which an industry abroad sells the outputs of a firm’s domestic production. FDI based on the motives of the investing firm FDI can also be categorized based on the motive behind the investment from the perspective of the investing firm:  · Resource Seeking: Investments which seek to acquire factors of production that are more efficient than those obtainable in the home economy of the firm. In some cases, these resources may not be available in the home economy at all (e.g. cheap labor and natural resources). This typifies FDI into developing countries, for example seeking natural resources in the Middle East and Africa, or cheap labor in Southeast Asia and Eastern Europe.  · Market Seeking: Investments which aim at either penetrating new markets or maintaining existing ones. FDI of this kind may also be employed as defensive strategy; it is argued that businesses are more likely to be pushed towards this type of investment out of fear of losing a market rather than discovering a new one.  · Efficiency Seeking: Investments which firms hope will increase their efficiency by exploiting the benefits of economies of scale and scope, and also those of common ownership. It is suggested that this type of FDI comes after either resource or market seeking investments have been realized, with the expectation that it further increases the profitability of the firm. Importance of FDI Making a direct foreign investment allows companies to accomplish several tasks: Avoiding foreign government pressure for local production. Circumventing trade barriers, hidden and otherwise. Making the move from domestic export sales to a locally-based national sales office. Capability to increase total production capacity. Opportunities for co-production, joint ventures with local partners, joint marketing arrangements, licensing, etc. What do companies considering FDI require? Depending on the industry sector and type of business, a foreign direct investment may be an attractive and viable option. With rapid globalization of many industries and vertical integration rapidly taking place on a global level, at a minimum a firm needs to keep abreast of global trends in their industry. From a competitive standpoint, it is important to be aware of whether a company’s competitors are expanding into a foreign market and how they are doing that. At the same time, it also becomes important to monitor how globalization is affecting domestic clients. Often, it becomes imperative to follow the expansion of key clients overseas if an active business relationship is to be maintained. New market access is also another major reason to invest in a foreign country. At some stage, export of product or service reaches a critical mass of amount and cost where foreign production or location begins to be more cost effective. Any decision on investing is thus a combination of a number of key factors including: assessment of internal resources, competitiveness, market analysis market expectations. From an internal resources standpoint, does the firm have senior management support for the investment and the internal management and system capabilities to support the set up time as well as ongoing management of a foreign subsidiary? Has the company conducted extensive market research involving both the industry, product and local regulations governing foreign investment which will set the broad market parameters for any investment decision? Is there a realistic assessment in place of what resource utilization the investment will entail? Has information on local industry and foreign investment regulations, incentives, profit retention, financing, distribution, and other factors been completely analyzed to determine the most viable vehicle for entering the market (greenfield, acquisition, merger, joint venture, etc.)? Has a plan been drawn up with reasonable expectations for expansion into the market through that local vehicle? If the foreign economy, industry or foreign investment climate is characterized by government regulation, have the relevant government agencies been contacted and concurred? Have political risk and foreign exchange risk been factored into the business plan? Policies to attract Foreign Direct Investment There is keen competition among developed and developing countries to attract foreign direct investment (FDI).This drive to lure investment often extends to the sub national level, with different regional authorities pursuing their own strategies and assembling their own baskets of incentives to attract new investments. Various reforms and strategies have been implemented, with mixed results. Some are critical of the high costs of many of these initiatives, arguing that it would be more rewarding to improve a country’s general business environment. The many different methods used by policymakers to attract FDI and their effectiveness are as follows:  · providing targeted fiscal incentives, such as tax concessions, cash grants, and specific subsidies;  · improving domestic infrastructure;  · promoting local skills development to meet investor needs and expectations;  · establishing broad-reaching FDI promotion agencies;  · improving the regulatory environment and decreasing red tape; and  · engaging in international governing arrangements. Promotional efforts to attract foreign direct investment (FDI) have become the important point of competition among developed and developing countries. This competition is also maintained when countries are adopting economic integration at another level. While some countries lowering standards to attract FDI in a â€Å"race to the bottom,† others praise FDI for raising standards and welfare in recipient countries. Countries have adopted their respective policies for attracting more investment. Some countries rely on targeted financial concessions like tax concessions, cash grants and specific subsidies. Some countries focus on improving the infrastructure and skill parameter and creating a base meet the demands and expectations of foreign investors. Others try to improve the general business climate of a country by changing the administrative barriers and red tapism. Many governments have created state agencies to help investors through this administrative paperwork. Finally most of the countries have entered into international governing arrangements to increase their attractiveness for more investment. Sound investment climate is crucial for economic growth. Microeconomic reforms aimed at simplifying business regulations, strengthening property rights, improving labor market flexibility, and increasing firms’ access to finance are necessary for raising living standards and reducing poverty in a country. Reform is necessary for creating an investment-oriented climate. Reform management matters as investment climate reforms are done politically. They often favor unorganized over organized groups and the benefits tend to accrue only in the long term, while costs are felt up front. Political decisions play a significant role in this context. Each and every country over the globe is stepping forward to change the climate for attracting more investment. Opening up of doors by most of the nations have compelled them for adopting reforms. Relaxation of rules and regulations, of course, is an essential requirement but not sufficient on its own to bring in FDI. As the study points out, business rules in India still bar FDI in most sectors. It was only last February that the government there decided to allow FDI of upto 51 percent in the single brand retail sector, which is expected to trigger a new flurry of investment. As things stand, Pakistan is far ahead of India in terms of offering all kinds of incentives to foreign investors – although some administrative bottlenecks still remain to be removed. It also boasts a high economic growth rate and there exists a consensus among all political forces on following the market economy model. Still, it has failed to catch the fancy of foreign investors at the desired level. The designated target was to raise foreign investment from 1 billion dollars to 27 billion dollars during a five-year period. That target is nowhere near realization. The government claims to have brought foreign investment to the 3 billion dollars mark this year. But that is a fallacious claim since the money has come in on account of privatization of government-owned entities. There has only been a transfer of assets from the public sector into private hands; no new generation of activity in the retail or production sector, which is badly wanted to address the twin problems of poverty and unemployment. The situation underscores the need not only to remove administrative hurdles but also to create ease of operations vis-à  -vis law and order and the socially restrictive atmosphere.

At the root of the Cold War was the German Question Essays

At the root of the Cold War was the German Question Essays At the root of the Cold War was the German Question Essay At the root of the Cold War was the German Question Essay Many historians agree that the Cold War was magnetized towards Germany, and thus the German Question was at the root of the War. However, others regard the fact that because the Cold War expanded over such vast frontiers for such a long period Of time meant that the roots Of the war lay somewhere much deeper and complex than the issues in Germany. Their ideological differences meant the two superpowers could not comprehend the idea of cooperation after 1 945, causing them to compete for domination across the lobe and space in order for their ideology to be exported around the world. It was their insistence in maintaining the balance of power which would fuel the Cold War and cause the Allies to turn against one another in deciding how to deal with Germany at the post-war peace conferences. Who has Germany, has Europe, Lenin allegedly claimed. Into the gap that Hitters defeated fascist regime had left stepped the two candidates most able in exercising a predominant economic and political influence over their former enemy; America and the USSR. During the Yalta and Potsdam Conferences in 1 945 the Big Three concurred on a number of principles and practical steps regarding the post-war direction of Germany. The Allies main intention was to prevent Germany ever becoming a threat to European peace and security, in order to achieve this they composed a programmer consisting of four fundamental aims; identification, demonstration, decertification and decentralization. They also agreed on the division of Germany and Berlin into four separate occupation zones. However, the rest of the Peace Talks did not unfold in such a smooth manner; it was these talks over how to deal with Germany which highlighted the profound disparity between the USSR and America. The war aims of the two superpowers in relation to Germany diverged fundamentally from one another; America sought reconstruction of its former trading partner into a prosperous democracy ready for business again, conversely the USSR sought rich compensation to match the disproportionate loses it had faced during the war; in this way Germany would be weakened and could therefore act as a buffer zone rather than as a potential threat of invasion. Disagreement gave way to mutual antagonism as the former allies took practical steps to realize their vision for Germany. By 1946 tensions between the various occupying countries were mounting; it was clear to the USSR that reparations were not to be delivered from the western zones. During the spring of 1946 British and American concern over Soviet practices in East Germany were aroused when the East German Communist and Social Democratic parties were merged and their authority was seized by the newly formed Socialist Unity Party. Suspicions were not to end there; in the autumn of 1946 Stalin was alarmed by the discovery of Anglo-American discussions over the practicalities of fusing their zones into a Bygone. The coalition of Anglo-American zones acted as a catalyst towards the formal division of Germany two years later. Relations continued to dampen during 1947 when West Germany was offered Marshall Plan aid, and in 1 948 when all three western zones instituted a currency reform. In response the Stalin cut off rail and road links to West Berlin. The western powers realized the importance of keeping control of Berlin. Thus, in response the West initiated a massive airlift of supplies to Berlin so that the Soviets couldnt starve West Berlin into surrender. When Stalin abandoned the blockade in May 1949 the result Was a deepening of the East-West divide, and the eventual creation of the Federal Republic of Germany and the German Democratic Republic. As Stalins Iron Curtain became permanent the Cold War became more confrontational and the rival superpowers embarked on an arms race. In 1949, in attempt to resist the USSR the Allies set up an intergovernmental military alliance, NATO, which would act as a system of collective defense against any external party. Six years later Khrushchev would set up a similar organization for eight Communist states in Central and Eastern Europe, the Warsaw pact. All of a sudden the war had become much colder as the former allies faced one another with large scale, military alliances for which Germany was expected to provide a likely battleground. As time progressed the differences between East and West Germany become increasingly apparent; unlike the democratic West, the GIRD was monopolized by the Soviet-backed Communist party, the Socialist unity Party of Germany. In June 1953 the uprising of East Germany was violently suppressed by the Group of Soviet Forces in Germany and Politicized. Matters in East Germany continued to deteriorate, and the problem of emigration from East to West became increasingly severe, entering the Easts economic growth even further. In an extreme attempt to rectify East Berlins diminishing population, Khrushchev prevented people from leaving by fortifying Western borders with the Berlin Wall in August 1961. The Berlin Wall was the symbol which characterized the East-West division; an ominous manifestation of an ideological divide in the form of bricks, mortar and barbed wire. The wall not only divided Berlin. Over the following years, it became a symbol of division the division Of Germany, the division of Europe, the division of communist East and democratic West. The Communists presented the wall as being a protective shell. The West presented it as a prison wall. Many perceived the temporary division that the wall created as a permanent division. As a result it tackled the issue of East Germanys declining population, and subsequently st abilized the Cold War in Germany. Although Germany still remained very tense and sensitive, Khrushchev describing it as the testicles of the West, it was a managed tension which allowed for increasing contact and trade. As focused switched from Germany to elsewhere in the world, a Berliner in 1961 may have viewed vents from then onwards in Germany with mild surprise. In just four years after the surrender of Germany to the Grand Alliance the allies had turned against one another, polarities Europe into an East-West divide which would remain at the centre of the Cold War until the Berlin Wall was torn down in 1989. From a European perspective Germany would have appeared very much at the centre of the Cold War tensions; symbolically it was where the Cold War both started and ended with the tense Potsdam Conference in 1 945 and then the fall of the Berlin Wall in 1989. To those expecting superpower infiltration, Germany seemed like the ideal battleground. However, looking at the Cold War on an international scale it is evident that there Were roots elsewhere. Despite the continued East-West tension in Berlin, the second half of the Cold War was relatively peaceful in Germany compared to the rest of the world where the Cold War ravaged the homes and lives of non- Europeans. But what was it that spurred the Cold War on for so many years and when did it actually start? Many historians trace the origins of the Cold War back to when the Grand Alliance fell apart at the end of the Second World War. In some respects, both superpowers were very similar to one another; they both entered the war due to surprise attack, and had each been born in revolution. Both states also advanced across vast frontiers and were the first and third largest countries in the world. Finally, both superpowers embraced ideologies with global aspirations and had leaders who believed their ideology was superior and should be exported and who perceived the other as an expansionist security threat. However, this is as far as their commonalities stretched. Lenin had overthrown the Provisional Government in the October Revolution. The USSR became an authoritarian society; its highly centralized command economy, single-party regime stood for everything Americas democratic government did not. Later, in March 1947, Truman announced his Truman Doctrine which depicted a frightening world in which the US faced the evil communist ideology, and stated that America was obliged to support free people who are resisting attempted subjugation by armed minorities or by outside pressures. Truman believed that totalitarian regimes, such as the Soviet unions, coerced the free peoples within, and that by doing so international ace and the security of the United States was threatened. The disparity between the two nations ultimately meant that under natural circumstances they were better suited as rivals rather than allies. Their incompatible systems meant that the victors would either have to cease being who they were or give up much of what theyd hoped to attain by fighting the war. What the superpowers were aiming to attain was superficially very similar; their post-war objectives were both based around obtaining security. Stalin believed security for himself, his regime, his country and his ideology were he four most essential objectives. He was well aware that in order to obtain security in this form he would need continued Anglo-American goodwill. However, he was also acutely aware of the self-destructive cycles of boom and bust that Marxist theory said that capitalism seemed to move in. Stalin believed another capitalist crisis was about to arise, in which case the capitalists would then rely on the communists. Stalins grand vision therefore was to restore the balance of power in Europe in such a way that most benefited himself. Similarly, Americas key objective was obtaining security. In order to serve as a model for the rest of the world to prevent future wars and keep peace, the US could no longer remain apart from it; it would therefore have to abandon its policy Of isolationism. This was a fundamental turning point in IIS foreign policy, and it would soon have its effect on the Cold War, as it meant that presidents no longer were restricted on how far and when they could commit the IIS overseas. Relations within the Grand Alliance were already tense in to October 1944 when Churchill agreed that the USSR would have predominant influence in the European countries it had occupied during the war. Roosevelt, angry that he had not been consulted on the Stalin-Churchill deal, protested against it. Matters worsened when Stalin insisted on taking a third of Pollards territory and imposed a pro-Soviet government there, against plans for a government of national unity made at Yalta. Britain and America were becoming increasingly wary of Stalin. Two weeks before his death, Roosevelt described Stalin as having broken every one of the promises he made at Yalta. The flaws within the Grand Alliance had proved too much once the war was over. It had been an alliance based on negative cohesion in order to defeat moon enemies. Each of its members used the Alliance as an instrument to position themselves for maximum influence in the post war world and to ensure that the balance of power wasnt tipped out of their favor. Had their ideologies been less adversarial then perhaps the alliance may not have fragmented and turned against one another in the way that it did. However, communism and capitalism were such polar opposites on the political spectrum that the probability of the allies continuing to cooperate in post-war conditions was very unlikely.

Essay Sample on Business and Companies Their Relationships

Essay Sample on Business and Companies Their Relationships The businesses and companies at this higher level are the ones that buy and collect information from the smaller businesses that we deal with directly to do our business. To better understand the difference between the levels of these businesses, we have included the diagram below to help illustrate these relationships. We do not directly give these higher level businesses our personal identifying information. Our information is generally gathered by the lower level businesses we interact with on a regular basis. Lets talk in more detail about the businesses and companies we deal with on a daily business that share, sell, and release our personal information. Businesses and companies need our personal information to provide us, the customer, with the specific service they offer. We give the business our information in good faith believing the information we provide them is meant only so they can provide us a service. We do not realize that these businesses, in a majority of cases, turn around and share, sell, or release our information to higher level businesses, usually to make a profit. To assist us with understanding this concept, as we progress through the chapters, we need to take a look at what we do on a daily basis in our personal lives and identify what companies and businesses we have a relationship with. Each persons life style is different so there will not be one model that fits each and every person that reads this book. You will need to take a look at your life to identify the specific businesses you have contact with on a daily, weekly, monthly and\or annual basis. You will need to determine what personal information they have on you, become familiar with their privacy policy, and exercise any and all opt-out options they provide. We can not stress to you enough that these businesses and companies are making more money selling our personal information than they are just having us as customers. Throughout this book, we will discuss numerous examples of the types of businesses you may deal with that are releasing your information. The main idea we want to stress in this section is getting you to understand that when we, as consumers, give a company or business our personal identifying information that business will probably share, sell, or release it to a higher level business that in turn compiles and re-sells it to publicly available information sources. Some examples of the types of business we deal with on a regular basis that are sharing our personally identifiable information are: Newspapers Movie rentals stores Grocery store discount cards Department stores Gas Stations Restaurants For your convenience, we have included a form that will assist you with creating your list of the businesses and companies you deal with on a regular basis. You should be most interested in those businesses that have any item of your personally identifiable information, such as your name, date of birth, social security number, home address and home phone number. Keep a journal with you and start compiling this information. This task may take you awhile, because you may not realize initially how many business relationships you actually have. Be patient and diligent and have the confidence that it will all come together at the end of the protection process.

World War I and The Treaty of Brest-Litovsk

World War I and The Treaty of Brest-Litovsk After a nearly a year of turmoil in Russia, the Bolsheviks ascended to power in November 1917 after the October Revolution (Russia still used the Julian calendar). As ending Russias involvement in World War I was a key tenet of the Bolshevik platform, new leader Vladimir Lenin immediately called for a three-month armistice. Though initially wary of dealing with the revolutionaries, the Central Powers (Germany, Austro-Hungarian Empire, Bulgaria, and the Ottoman Empire) finally agreed to a ceasefire in early December and made plans to meet with Lenins representatives later in the month. Initial Talks Joined by representatives from the Ottoman Empire, the Germans and Austrians arrived at Brest-Litovsk (present-day Brest, Belarus) and opened talks on December 22. Though the German delegation was led by Foreign Secretary Richard von KÃ ¼hlmann, it fell upon General Max Hoffmann- who was Chief of Staff of the German armies on the Eastern Front- to serve as their chief negotiator. The Austro-Hungarian Empire was represented by Foreign Minister Ottokar Czernin, while the Ottomans were overseen by Talat Pasha. The Bolshevik delegation was headed by Peoples Commissar for Foreign Affairs Leon Trotsky who was aided by Adolph Joffre. Initial Proposals Though in a weak position, the Bolsheviks stated that they desired peace without annexations or indemnities, meaning an end to the fighting without loss of land or reparations. This was rebuffed by the Germans whose troops occupied large swaths of Russian territory. In offering their proposal, the Germans demanded independence for Poland and Lithuania. As the Bolsheviks were unwilling to cede territory, the talks stalled. Believing that the Germans were eager to conclude a peace treaty to free troops for use on the Western Front before the Americans could arrive in large numbers, Trotsky dragged his feet, believing that moderate peace could be achieved. He also hoped that the Bolshevik revolution would spread to Germany negating the need to conclude a treaty. Trotskys delaying tactics only worked to anger the Germans and Austrians. Unwilling to sign harsh peace terms and not believing that he could delay further, he withdrew the Bolshevik delegation from the talks on February 10, 1918, declaring a unilateral end to hostilities. The German Response Reacting to Trotskys breaking off of the talks, the Germans and Austrians notified the Bolsheviks that they would resume hostilities after February 17 if the situation was not resolved. These threats were ignored by Lenins government. On February 18, German, Austrian, Ottoman, and Bulgarian troops began advancing and met little organized resistance. That evening, the Bolshevik government decided to accept the German terms. Contacting the Germans, they received no response for three days. During that time, troops from the Central Powers occupied the Baltic nations, Belarus, and most of Ukraine (Map). Responding on February 21, the Germans introduced harsher terms which briefly made Lenin debate continuing the fight. Recognizing that further resistance would be futile and with the German fleet moving towards Petrograd, the Bolsheviks voted to accept the terms two days later. Re-opening talks, the Bolsheviks signed the Treaty of Brest-Litovsk on March 3. It was ratified twelve days later. Though Lenins government had achieved its goal of exiting the conflict, it was forced to do so in brutally humiliating fashion and at great cost. Terms of the Treaty of Brest-Litovsk By the terms of the treaty, Russia ceded more than 290,000 square miles of land and around a quarter of its population. In addition, the lost territory contained approximately a quarter of the nations industry and 90 percent of its coal mines. This territory effectively contained the countries of Finland, Latvia, Lithuania, Estonia, and Belarus from which the Germans intended to form client states under the rule of various aristocrats. Also, all Turkish lands lost in the Russo-Turkish War of 1877-1878 were to be returned to the Ottoman Empire. Long-Term Effects of the Treaty The Treaty of Brest-Litovsk only remained in effect until that November. Though Germany had made massive territorial gains, it took a large amount of manpower to maintain the occupation. This detracted from the number of men available for duty on the Western Front. On November 5, Germany renounced the treaty due to a constant stream of revolutionary propaganda emanating from Russia. With the German acceptance of the armistice on November 11, the Bolsheviks quickly annulled the treaty. Though the independence of Poland and Finland was largely accepted, they remained angered by the loss of the Baltic states. While the fate of territory such as Poland was addressed at the Paris Peace Conference in 1919, other lands such as Ukraine and Belarus fell under Bolshevik control during the Russian Civil War. Over the next twenty years, the Soviet Union worked to regain the land lost by the treaty. This saw them fight Finland in the Winter War as well as conclude the Molotov-Ribbentrop Pact with Nazi Germany. By this agreement, they annexed the Baltic states and claimed the eastern part of Poland following the German invasion at the start of World War II. Selected Sources Avalon Project: Treaty of Brest-LitovskGuide to Russia: Treaty of Brest-LitovskFirst World War: Treaty of Brest-Litovsk

Eco-Friendly Cruise ship Research Paper Example | Topics and Well Written Essays - 750 words

Eco-Friendly Cruise ship - Research Paper Example An example of a greenhouse gas, emitted by fuel is carbon dioxide, which is always accused of destroying the earth’s ozone layer. Based on these environmental concerns, a number of cruise ships have embarked on renovations that are eco friendly (Carnival, 2014). For example, Disney Cruise ship, and the Holland America have conducted a series of Green Renovations aimed at reducing the emission of green house gases . These renovations include the use of facilities and equipments which are known to conserve the environment. For instance, these institutions have upgraded their engine systems, to a level whereby they emit a reduced level of fuel into the atmosphere (Choice, 2014). However, this is not enough. This is because; a new phenomenon is taking shape in the tourism industry. This phenomenon is referred to as the eco-tourism trend. Tourists are now concerned with getting eco experiences while they are cruising (Wood, 2014). On this basis, tourists will choose destinations that are known for environmental conservation, and a cruise ship that has an extensive renovation, that reflects its capability to protect the environment (Choice, 2014). On this basis, it is within our suggestion to introduce a cruise ship into the family of the Royal Caribbean fleet that is eco-friendly. This will play a great role in gaining a competitive advantage over the competitors of Royal Caribbean fleet, who are mainly the Holland America Cruise Ships, and the Disney Cruise Ship (Royal Caribbean, 2014). It is important to denote that while developing a cruise ship that is eco-friendly, Royal Caribbean fleets has to consider a number of factors, such as the target customers, who will be attracted to the ship under consideration. For example, in the current century, the younger generation is more concerned with the preservation of the environment, and hence, they will be more attracted to a cruise ship that is

In light of recent research evaluate the extent to which a willy Essay

In light of recent research evaluate the extent to which a willy employer can evade the provisions of the Equal Pay Act 1970. What proposals for reform can be m - Essay Example In accordance with a report published by the University of Oxford â€Å"under this Act, every employment contract is deemed to include an equality clause which guarantees both sexes the same money for doing the same or broadly similar work, or work rated as equivalent by a job evaluation study; such a clause operates unless an employer can prove that pay variation between the sexes is reasonable and genuinely due to a material difference between their cases†2. In other words, all employment contracts should include provisions for equal pay regarding the work of equal value. However, in many cases the provision of equal payment is not possible because there are certain factors (like the duties of the man involved) that have been encountered in order for the increase to the salary to be decided. Another issue is the fact that discrimination in payment is often non visible or easily identified because it can refer to the provision of other benefits (like free accommodation and so on) that are analyzed extensively below. 1(1) â€Å"If the terms of a contract under which a woman is employed at an establishment in Great Britain do not include (directly or by reference to a collective agreement or otherwise) an equality clause they shall be deemed to include one†3 In other words, all employment contracts in Britain should include a clause related with equal payment. In terms that such a term is not included in the employment contracts, then employers can be ‘obliged’ to add such a clause within these contracts. In order to understand the role of Equal Pay Act 1970, it is necessary to refer primarily to the term ‘pay’ as included in the above Act. In accordance with a definition given by the Equal Opportunities Commission (2007) the term ‘pay’ can be refer not only to salaries and wages but also to the following benefits: â€Å"a) holiday pay/leave entitlements; b) profit related pay; c) profit sharing; d) contractual bonuses e) share options; f) subsidised

Israeli-Palestinian Conflict Essay Example | Topics and Well Written Essays - 250 words

Israeli-Palestinian Conflict - Essay Example The main and the biggest obstacle to conflict resolution is strong religious values and inability of the parties to accept view points and ideas of ach other. Each of the parties tries to prove his position and correctness. "Prejudiced views on both sides, not only by those directly engaged in the conflict, but by their allies as well, further stoke the flames of hatred and violence" (Wahid and A'La 2009). This conflict vivid portrays that ethical and religious factors and principles dominated in the Arab world and prevent its people to establish peace in the region. This conflict can be overcome with the help of the global peace organizations and UNO (United Nations Organizations). In order to make the conflict peaceful, UNO should force leaders of two countries to take part in summit and sign peaceful agreements. The main policies should involve political negotiations and organization of social life on the disputed territory. In spite of territorial claims, the core of the conflict is religious difference between these states and their ethnical envy. The Israelis would have to choose whether to annex the West Bank and Gaza Strip. And if they did so, they would have to decide whether to grant full civil rights to the Palestinians (Israeli-Palestinian Conflict, 2008).