Theme of Sacrifice Leading to Transformation Illustrated...

Water is the primary wealth of human civilization, and the link to everything in the world. Throughout history, poets and other artists have used water to reveal the secrets to the world, with sweat and tears of Sailor, Africans and African-Americans who are unrecognized. It shows the connection to the dawn of civilization. They are the ones who are unrepresented. For African and African-Americans lake possibly associated with slavery; while for sailors it might be an opportunity to develop themselves. While â€Å"The Negro Speaks of Rivers,† connects the spirit and history of the African/African-American community, and the poem, â€Å"The Secret of the Sea,† expresses the strengths and potential of the hearts of sailors, and in both of poems they†¦show more content†¦Hughes starts with Euphrates River for a reason; this river dates back to 4 BC. â€Å"I bathed in the Euphrates when dawns were young,† (line 5), the way that reader explains â€Å"I bathe d in the Euphrates† means that his ancestry, Africans, have been there since the beginning of civilization. With the nearest river it states, â€Å"I built my hut near the Congo and it lulled me to sleep.† (lines 6), the interpretation of this quote highlight how African has grown as the community to built home for themselves, and made a settlement next to another river. In the first river, you can express it by the beginning step of this community, and how the next river is the stepping stone for the race. In the next river, â€Å"I looked upon the Nile and raised the pyramids above it.† (Lines 7), starting for this period, the African race were made to into slaves, and the creation of freedom started. Hughes did not what the readers to interpret the pyramids as one of the Seven Wonders of the World, but the difficulty of a peasant, who actually helped to create the pyramids. Finally, the Mississippi River is the last stop of the journey for the African race. â €Å"I heard the singing of the Mississippi when Abe Lincoln went down to New Orleans, and I’ve seen its muddy bosom turn all golden in the sunset.† (Lines 8-10), the trip down to the Mississippi was a dream for many African-American. One of the hugest steps for this community was when

The Effects Of Media And Stereotypes On Women - 1554 Words

Women Leaders and The Effects of Media and Stereotypes Confidence, integrity, purpose, empowerment, determination, and courage. These are some of the many words associated with leadership. Regardless of gender, these words apply to all leaders. It is no longer a question of what women leaders are, but rather why there are not women leaders. Today’s society focuses on fulfilling leadership positions with males, not because females do not have the same skills and knowledge as men, but because people associate men with leaders. There are various daily obstacles that women face in the attempt towards leadership roles including prejudice beliefs, resistance due to stereotypes, leadership styles, family life demands and underinvestment in social capital. We have found that through depictions in the media, women are not seen as effective leaders in the same sense as men. These media findings and various research techniques provide evidence for the lack of female presence in leadership positions. Media Review As part of our research, we Googled different images associated with women and leadership. When you Google women leaders, what do you see? Countless images of beautiful women appear. Women have always had to walk a fine line when it comes to their femininity in the workforce. If a woman is too â€Å"girly†, she is looked down upon. When a woman is too â€Å"masculine†, she is looked down upon. Google pictures of women news casters. Many news casters today are dressed in a sexy andShow MoreRelatedMedia Stereotypes’ Effect on Women in the Workplace Essay1553 Words   |  7 Pagesterrorist. These are just a few of the many stereotypes that are portrayed by the media. A stereotype is an oversimplified conception that you put on someone because of the way they look, what gender they are, or countless other categories that we put people in. 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Barry suggests through a sarcastic and humors tone that gender stereotypes have been present since before the start of time; he uses a highly conversational style to prove this, as well as narrates to give the reader a better understanding of exactly what he’s talking about. Staples, on theRead MoreEssay Negative Stereotypes of Women1164 Words   |  5 Pages1301 3 December 2011 The Negative Impact of Stereotypes Stereotype- a simplified and standardized conception or image invested with special meaning and held in common by members of a group (Dictionary). In simpler words, stereotypes are judgments based on actions of an individual or small group, thought to be true about the rest of that group. Stereotypes refer to individuals perceptions that typically do not correspond to reality. 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Pricing-to-Market and Its implications for PPP Free Essays

Introduction At present, with the increasing process of globalization, the world is integrated as a huge market. International trade is becoming increasingly important between countries. Therefore, exchange rate are now of great concern, people care about its ups and downs, and its implications, especially, to what extent will the exchange rate change influence the price of imported or exported goods. We will write a custom essay sample on Pricing-to-Market and Its implications for PPP or any similar topic only for you Order Now It is important to introduce the idea of PTM to understand this question. The article will first introduce the concept of pricing to market, and then introduce the implications of pricing to market for purchasing power parity. Finally, I will give the conclusion. Review of PTM PTM is considered to be a phenomenon, and this happens in international trade between countries. When the market is in division and there is no â€Å"hot money†, exporters could set different prices according to the places importing from them; they could choose either producer currency pricing or local currency pricing. When producer currency is used, devaluation reduces export price of local commodities, change in exchange rate has conducting effect to price, therefore guarantees the effectiveness of one price law and purchasing power parity; however when local currency pricing is chosen, devaluations of producer currency does not affect export price of commodities since they are priced in local currency. International trade cost is essential in pricing to market. Atkeson and A.Burstein(2008) stated that without international trade costs, even in the presence of variable markups that lead to incomplete pass-through, we have no pricing-to-market. Hence, imperfect competition with variable markups is necessary, but not sufficient, for pricing-to-market. It is widely believed that PTM does not apply to all categories of goods, that it , the extent of Pricing to market varies in different goods trade. Krugman.P(1987) stated that:† PTM is not universal, pricing to market seems to be limited to the transportation equipment and machinery industries† according to his research on US and Germany. In short, PTM refers to the action of a firm to set different price of the same product in different markets. Implications of PTM for PPP and empirical evince on that 1. PPP was first formally introduced by Gustav Cassell in 1920, it was aimed to provide a standard for currencies to slove the problem of compensations after the first world war. It indicates that when consumers purchase identical products in any market worldwide, the quantity of money should be the same when measured in one currency (Hallwood and MacDonald, 2000). At present time, PPP has two functions in economics: one, to judge a currency has whether been over or under estimated, second, as a tool of conversion, to convert GDP or GNP of one country from its own currency into another, therefore compare the economic strength between them. PPP has now been developed into two forms, the absolute ppp and relative ppp. Absolute ppp is based on the law of one price, the theory of absolute purchasing power parity states that the same basket of goods should sell for the same price everywhere (Alessandria,GKaboski,P,K, 2009), while relative ppp debates that exchange rates can be adjusted according to the inflation differentials existing in two markets (Pilbeam, 2006). Unquestionably, the implication of PTM for purchasing power parity is influential according to many researches and studies done. PTM weaken the influence of PPP. The theory of PPP indicates that significant change in exchange rate should result in the devaluation of national inflation and appreciation of national deflation. But the truth is that, either the ups or downs of exchange rate did not significantly affect the inflation. One reason why exchange rate is such insignificant is obvious: exchange rate does not affect volume of trade and total price, as what people expected. The reason lies here is PTM, producers exporting commodities to other countries did not change exporting prices as people expected. For instance, when Japanese producer exporting automobiles into American market, they will set their products’ dollar price on the basis of specific situations in American market. If yen was in an appreciation, they would, by and large, reduce the yen price but not raise th e dollar price to maintain its current business scale in American market. They would rather to eliminate the effects caused by change of exchange rate by adjustments within the enterprise itself. In such condition, exchange rate could not play the important role as it should have played. Betts,C and Devereux M,B (1998) argued that: â€Å"PTM plays a central role in exchange rate determination and in international macroeconomic fluctuations.† The pass-through from exchange rate changes to prices is strongly restricted by actions of PTM. They also stated that: â€Å"PTM generates departures from purchasing power parity; it tends to reduce the comovement in consumption across countries, while increasing the comovement of output.† (Betts,C and Devereux M,B ,1998). Generally, according to theory of one price and purchasing power parity, changes in exchange rate would pass through efficiently to prices, that prices will be adjusted until it fits the changes in exchange rate, and there will finally be equilibrium. But PTM, as personal actions of enterprises, to some extent, obstructs the channel of passing through. In the conditions of high PTM extent, devaluation of exchange rate has a very limited impaction on the prices determination of imported commoditie s, as (Betts,C and Devereux M,B ,1998) stressed:†the allocative effects of exchange rate changes are therefore wakened.† PTM also has important welfare implications for the transmission of monetary policy shocks. (Betts,C and Devereux M,B ,1998). In a situation under PPP, an unexpected expansion of monetary policy will result in increase in welfare of all organization, no matter home ones or foreign ones. Betts,C and Devereux M,B ,(1998) concluded that: â€Å"Monetary policy is a ‘beggar- thy-neighbor’ instrument in the presence of PTM†. 2. The phenomenon of pricing to market is everywhere in our daily life, and it significantly weaken the influence of law of one price and theory of purchasing power parity, tells people the truth that the same amount of currency could not always buy same basket of goods in different countries’ market. Since the same product could be priced differently in two countries, there will be space of arbitrage. I found exactly the same mode of DELL laptop both sold in U.S and China, on EBay, this dell allienware m15x is priced $1449.99, on the official site of dell china, it is priced 16999 RMB, according to the present exchange rate of RMB over US dollar: 6.573, 16999RMB is $2586, it is $1086 more that in US. Obviously, the transportation cost to bring one laptop from US to China is far more less than $1086. It can be implied that many people will try smuggling commodities like this laptop to earn profits. Conclusion As above discussion, PTM is important in the determination of exchange rate, higher the PTM is, less influence will the exchange rate change make on prices. It also makes significant welfare implications for the transmission of monetary policy shocks. PTM and its implication on PPP is still necessary to be further researched. Reference Krugman, P. (1986), â€Å"Pricing to Markets when exchange rate changes†, In: Arndt, S.W., Richardson,J.D. (Eds.), Real-Financial Linkages among Open Economies. MIT Press, Cambridge. Mark, N. C. (2001), International macroeconomics and finance: theory and econometric methods, Wiley-Blackwell. Sarno, L. Taylor, M.P. (2002), â€Å"new open-economy of macroeconomics†. In The economics of exchange rate, Cambridge University Press, Cambridge, Hallwood, P. and MacDonald, R. (2000) International Money and Finance, 3rd ed.Blackwell. Pilbeam, K . (2006) International Finance, 3rd ed. MacMillan. Atkeson,A Burstein,A (2008) â€Å"Pricing-to-market, Trade cost, and International Relative Price*†. University of California, Los Angeles and Federal Reserve Bank of Minneapolis Alessandria,GKaboski,P,K (2009) â€Å"Pricing-to-Market and the Failure of Absolute PPP† Betts,C and Devereux M,B (1998), â€Å"Exchange rate dynamics in a model of pricing-to-market† in Journal of International Economics 50 (2000) 215–244 alienware m15x items- get great deals on PC Laptop notebooks,alienware m17x items on eBay.com! (2011). Retrieved March 9, 2011 from http://shop.ebay.com/i.html?_nkw=alienware+m15x_frs=1_trksid=p3286.c0.m359 Dell (2011). Retrieved March 9, 2011 from http://www1.ap.dell.com/content/topics/topic.aspx/ap/topics/microsite/zh/odg_campaign?c=cncs=cndhs1l=zhs=dhs~ck=mn How to cite Pricing-to-Market and Its implications for PPP, Essay examples

Automobile Industry Essay Example For Students

Automobile Industry Essay Accessories are parts made for comfort, convenience, performance, safety, or customization, and are designed for add-on after the original assembly of the motor vehicle. Overview of Industry Market Conditions The U. S. Auto industry is a key component of the nations manufacturing base. In a typical year, it accounts tort about five percent to GAP and 16 percent of all durable goods shipments. The automotive industry, including the automakers and automotive parts sectors, accounted for about 674,000 U. S. Employees in 2010, a slight increase of percent from 664,200 in 2009. 2 and accounted for 5. Recent of all U. S. Manufacturing employees. While trying to work more collaboratively with suppliers, automakers put pressure on them by seeking price concessions and tasking their suppliers to take on more research, design and manufacturing responsibilities, and by absorbing the higher costs for their inputs. Suppliers that survived 2003 slashed costs by cutting capacity, laying off Workers , and restructuring financially. The Original Equipment Suppliers Association (GOES) reported that the automotive supply sector was operating at about AS percent capacity utilization. This is an improvement over the 45 Recent capacity utilization in early 2003, but far from the 80 percent historically needed for profitability. 3 As vehicle sales rebounded and suppliers started to realize some profit from their cost cutting efforts, the auto makers have started to pressure suppliers to cut prices. Industry analysts forecast severe pricing pressure and shrinking margins globally for suppliers in 2011. 4 Those suppliers that remained financially healthy during the downturn are likely to face increased pressure, while those suppliers that struggled may experience less pressure to cut prices. In 2010, the market for original equipment in the United States was 141. 5 billion, up 36. 5 percent from 2009, with the increase in vehicle production. Pressure was further exacerbated by global competition in the parts industry. As Japanese, German, and Korean-based vehicle manufacturers gained shares to the U. S. Market, they maintained relationships with their traditional supplier base. Many of those home market suppliers created or expanded transplant capacity in the United States to meet their traditional automakers production needs, At the same time those transplant suppliers aggressively sought business from the Detroit 3. In addition, suppliers in many Bureau of Labor Statistics data sing NAZIS 3361 3362, and 3363. Http://data. Ibis. Gob/PEG/outside? Survey=CE 3 Wards Automotive Reports, 1/25/10, p. 3. 4 Walsh, Dustin, Suppliers Back in Price Vise, Automotive News, 12/6/10, 2 International Trade Administration/Manufacturing and Services/Office of lower cost markets improved their quality and became capable of supplying even greater shares Of LIST. Demand from abroad. The Detroit 3 also advocated that u. S. -based suppliers move production to lower cost countries or risk losing future contracts. TO survive, many domestic parts manufacturers had to adapt to these numerous challenges. Appliers willingly took on the new responsibilities offered to them by automakers. Some transformed themselves into Tier One-Half systems integrators, that engineer and build complete modules (for example, an entire interior, 4-corner suspension sets, or an entire rolling chassis) and assumed both product design and development responsibilities, and down stream supply chain management functions previously undertaken by the automakers. Most u,S. Appliers are ill-situated to withstand major disruptions to their sales and the impact upon suppliers when an automaker sharply curtails operations can be severe, It takes many months ND significant resources to win business from vehicle assemblers or from the major *Tier l suppliers, A survey of suppliers taken in September 2010, revealed suppliers profit margins, before interest and taxes, would be around 6 percent in 2010. The increase was credited to s trong auto markets in China, Brazil, and India, and a partial recovery in North America, Europe, and Asia. Still there was skepticism about butcher the demand was going to be sustained, resulting in reluctance of suppliers to expand production and investment and hire back workers_5 The result has been Some temporary supply shortages, for example Scripps and some plastic resins, as vehicle production increased. Supply shortage is still a possibility as vehicle production increases. This situation to fulfill demand could drive further consolidation and acquisitions to improve suppliers competitive positions. The parts shortage is most acute among Tier 2 and Tier 3 suppliers that were forced to downsize and were unable or unwilling to secure financing for expansion. Dramatic growth in China, India, and other Asian economies, has also led to increased costs for critical raw materials. Demand in the developing world, primarily China, has been a major river behind increasing raw materials and energy commodity prices, Financial pressures from higher raw material prices have been affecting ties between suppliers and automakers, and between higher tier suppliers and their lower tier suppliers. Automakers are increasingly allowing material cost pass-thorough from suppliers, usually on a case-by-case basis, if the supplier can prove extraordinary pressures because to raw material costs and demonstrate efforts to keep costs down. Suppliers are concerned as the market rebounds that prices for raw materials will also increase. An example is the price of thermoplastic used in automotive manufacturing which increased 16 percent from January 201 C to December 2010. Steel makers are seeking to insulate themselves from fluctuating costs of their own raw materials. Iron ore prices went from 560 a ton in 2009 to $180 a ton in April 2010, 5 Automotive News, Surveys of Suppliers find Hefty Profits, Rosy Outlook, by Mike social, p. 20. Settling at $140 a ton in August. Steel makers seek more flexibility to set prices based on inputs or seek shorter term contracts with the auto industry, offering an adjustable-rate contract With relatively low prices or a fixed-rate contract with higher prices. North American auto makers tend to buy most of their steel from five companies: Recreational, United States Steel Corp.. OHO Several, AK Steel, and Togetherness GAG. Rare earth materials are also a growing concern of the automotive industry. For example, China controls the supply of many rare earth metals, Demand is increasing in the automotive industry in part because of the increase in hybrid and advanced technology vehicles that use rare earth materials in batteries and electronics. China has been controlling the mining, cutting back on exports, and increa sing export tees of many to these critical rare earth materials. This is encouraging competitors to seek alternatives to rare earth materials and will be an area to watch over the coming years. Many analysts and industry members expect the North American industry restructuring to continue during 2011 and into 2012, so the pressures driving industry consolidation will remain for some time, Industry analysts predict that at least 500 of the remaining 5,000 or so U. S. Automotive suppliers will fail in the next few years. 6 The continued pressure is forcing automotive suppliers to seek fork in alternative fields including military, space and wind energy. Greek Mythology and Religion EssayOnly two U. S. Suppliers were among the top 10 global OWE suppliers in 2009: Johnson Controls and Delphi. Johnson Controls global OWE sales were down 33 percent in 2009 to 512. 8 billion and Delphi was down 34. 9 percent from 2008, with $1 1. 8 billion in OWE sales. Most suppliers saw sales drop in 2009 with the global recession and decrease in vehicle production and sales. The global recovery trot the recession and increase in vehicle production and sales in 010 should result in an increase in global OWE sales for suppliers, especially large suppliers with close ties to auto makers. Growth for the majority of suppliers dependent mainly upon mature markets has stalled according to an analysis by PricewaterhouseCoopers. 12 The analysis observed that suppliers strategically entering emerging markets to improve both their cost position and diversify away from traditional customers have tended to generate above average operating income growth despite strong home market headwinds, 10 1 1 Merrill Lynch estimate via GOES Year in Review: Parts Market in North America, Dossiers analysis email, 2/23/11. 12 PWS Automotive Institutes Analyst Note, PriceWaterhouseCoopers, 8/1/07. Because of the 36 percent increase in vehicle production in the United States, OWE parts experienced a similar increase in sales volume in 2010. OWE sales by value are more affected when there is a shift from higher-content value Subs to lower-content value small passenger cars. OWE parts demand in 2009 was down to lows not seen since 1993 ($164 billion) in current dollars, or if the market demand is adjusted for inflation in constant dollars not seen since the asses. 3 Competition was also growing as foreign suppliers opened shop in North America. An estimated 800-1,000 suppliers from overseas built plants in North America in the past 20 years, creating a mass global localization of the supplier sector. 14 Some foreign suppliers, especially European companies, that expanded businesses in North America to supply their Detroit 3 customers, are also trying to move away from Detroit 3 business to Asian automakers. However, Japanese suppliers are not immune either, Suppliers in North America all face competition, historically high material costs, and demanding customers, although the foreign Appliers face fewer legacy costs and so tend to operate more efficiently than their U. S. Counterparts. Automakers, such as Ford, are attempting to design global platforms allowing the vehicle to be made in Asia, Europe and North America using the same platform. Global platforms reduce engineering costs, simplify manufacturing processes, and improve quality by reducing variability. Other efficiencies gained by the volume of the shared platform include working closer With suppliers from the design Of parts to the production Of the car Which will cut component cost and retail price. For example, the Ford Focus will use 80 percent common parts and AS percent of the same supply base. Large regional suppliers are a shrinking part of the market. Foreign-affiliated suppliers have made significant inroads into the LIST. Market through acquisitions, sales to transplant automakers, and sales to the Detroit 3. Moreover, transplant vehicle production in the United States grew significantly, from only 2. 6 million light vehicles in 1999 to just over 4 million units in 2007, and to 3. 4 million units in 2010. The Detroit 3 have continued to purchase more foreign-based supplier components. For example, Siemens, a German supplier, which had no share of audio systems in North America in 2003, had grown to 25 percent share by 2005. Also, Dense Corporation, now the largest supplier in the world, reported that its sales to the Detroit 3 were rising and that the North America market represented about 40 percent of its total sales, while Toyota accounted for another 40 percent of Tendons business in North America. 15 In August 2008, Chrysler named Dense Corporation as its first Supplier of Choice? This means Dense is the default supplier with whom other suppliers must compete to win contracts, and Dense ill not have to compete to keep current orders. 13 14 AN Outlook for Sales and Production and OWE Parts Demand, Dossiers analysis email, 1/23/09.. Size of the parts market in North America, Dossiers analysis email, 1/19/2007. IS Dense is a member Of the Toyota group with Toyota owning 22. 9 percent of Dense. Dense expected double-digit growth been 2007-2012 in North America. The effect of the foreign-based suppliers increased production within the North American market is also affecting the North American content o f vehicles. In fact, some Japanese vehicles, such as the Toyota Sienna, had a 90 percent LIE. S. And Canadian component content, while traditional American vehicles, such as the Chevrolet Suburban, Ford Mustang and Jeep Grand Cherokee have between 61-72 percent U. S. And Canadian content. Aftermarket The independent aftermarket experienced a sales boom after I ,160 dealerships closed in 2009. It was estimated that more than $7 billion in 2009 parts and services would be redirected to independent service outlets and auto parts stores and non-OWE auto parts distributors as dealers closed shop. 16 Independent garages employed an estimated 332,262 individuals It is estimated that 70 percent (1 76 million) of out- f-warranty vehicles are repaired at independent shops. The perception that a weak economy favors the aftermarket appears to be holding for the short- term. Cost-awareness amongst automobile consumers has led many to invest in servicing and repairs of their vehicles rather than purchasing a new one because of the effect of the weakened global economy. The aftermarket (parts and services) is estimated to be a nearly 5200 billion industry and has benefited as consumers defer new vehicle purchases because of uncertainty about their jobs, housing market, and availability Of disposable income. Still, even the aftermarket is not immune to the state of the economy. While the recession boosted the aftermarket financial viability in the shorthorn, not all long-term indicators are promising.