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13Oct 2018 by Reese Bannister

6 Most Important Objectives of International Monetary Fund (IMF)

Currency

The Great Depression of the 1930s, and the subsequent actions, like currency devaluations and trade restrictions imposed by many countries so as to eliminate the impact on domestic income, led to lowering of world trade and increase in unemployment. This led to Bretton Woods Conference, attended by 44 countries, in July 1944.The IMF came into being on December 27, 1945 as a result of this Conference. It is a “cooperative apolitical intergovernmental monetary and financial institution.” Presently there are 185 members of IMF (with the exception of Taiwan being expelled in 1980, North Korea and Cuba being left out in 1964 and a few small member states of the UN). Each member does not enjoy equal voting strength. ADVERTISEMENTS: The IMF draws its financial resources principally from the quota subscriptions…

13Oct 2018 by Reese Bannister

What are the Arguments in Favour and Against Trade Barriers? – Explained!

Industry

Many countries, particularly the developing countries put barriers in the form of tariffs, as these are the only ways to generate and collect revenue for the state. In case of Myanmar, export and import duties are the major source of state revenue.The most important of all economic arguments is the employment/labor argument. It is based on the premise that less of imports will create more jobs. Markets are to be protected, particularly from countries where wages are much lower. This lower wage advantage will either wreck the domestic industry or force it to match the lower wages. ADVERTISEMENTS: The decision of many states of the US to enact statutes to not to award BPO work to India is guided by this very logic. In banking and insurance, regulation serves to…

13Oct 2018 by Reese Bannister

What are the 5 Reasons for Government Intervention in International Trade?

Industry

Strategic arguments those are non-economic reasons for government intervention in international trade. These include: 1. National Security Argument: Each nation protects some industries to guard its national security. The most obvious examples are weapons, aerospace, advanced electronics, semiconductors, and strategic minerals (e.g., exotic ores used in jet aircraft), etc. Protection for the sake of making available specific minerals or resources does not appear to be an optimal policy. A better alternative is to stockpile such resources during peacetime when they are cheap. ADVERTISEMENTS: Protagonists of national security argument claim that a nation should be. Self-reliant and be ready to pay for inefficiency when the case relates to national security. Recently, Pentagon has pressed for development of flat-panel industry even though the same can be bought much cheaper from Asian countries.…

13Oct 2018 by Reese Bannister

Useful Notes on Product Life-Cycle Theory of International Trade

Strategy

The product life-cycle theory was developed by Raymond Vernon in the mid-1960s. The theory presents an insightful analysis as to why in the twentieth century a large number of new products in the world were developed by the US firms and sold first in the US market.Vernon pointed out that many manufactured foods, like automobiles, televisions, instant cameras, photocopiers, personal computers, semi-conductor chips, etc. go through a continuum or cycle that consists of introduction, growth, maturity, and decline stages. The location of production will shift to serve markets according to the stage of cycle a product is therein. Stage 1: Introduction: Most innovations take place where there is a nearby observed need and market for them. A Japanese company will develop a new product for Japanese market and a US…

13Oct 2018 by Reese Bannister

5 Major Techniques of Stock Taking (Including Merits and Demerits)

Accounting

Various techniques/techniques of stock taking are as follows:1. Periodic stock verification2. Continuous or perpetual or automatic stock verification ADVERTISEMENTS: 3. Spot checks4. Stock out stores verification5. Annual stock taking. 1. Periodic Stock Verification: Periodic stock taking is quarterly or half yearly checking of the entire stock in one or two days. This takes where the stock comprises a few but expensive items. The method followed is similar to the annual stock taking i.e., physical stock of various items is recorded on inventory sheets or inventory card and then compared with the bin card balance. image source: citadelsystems.com ADVERTISEMENTS: While inexpensive items may be checked once a year, expensive and attractive items should be checked three or four times a year. The physical balance obtained at the end of the financial…

13Oct 2018 by Reese Bannister

Essay on the Characteristics that must be included in an Ideal Penal System (2148 WOrds)

Rehabilitation

Essay on the Characteristics that must be included in an Ideal Penal System !By way of generalisation, it may be stated that efficacy of a penal system is to be assessed in the light of its impact on society in general and the criminal in particular. Punishment of offenders though necessarily arduous, is inevitable in the interest of the community at large therefore; every civilised nation must have a definite penal programme.An ideal penal system must essentially include the following characteristics:— ADVERTISEMENTS: 1. A rational penal policy should aim at protecting the society from crimes and reclaim criminals by removing imperfections in the penal law of the country. Greater emphasis should be on prevention rather than cure. All necessary steps should be taken to ensure that people do not get…

13Oct 2018 by Reese Bannister

Essay on “Iltutmish” (480 Words)

Writers

Iltutmish was a brave soldier and an experienced military commander. The Sultan, Muhammad Ghori, was very much impressed by his valour and instructed his slave Aibak to free him from slavery. He led the army against Yaldoz, Qubacha, Rajputs and Bengarand always attained victory due to his ability and capability. Image Source: upload.wikimedia.orgDr. A. L. Srivastava writers, “Iltutmish was not a builder of civil institutions and was not a constructive statesman. But Dr K. A. Nizami does not agree with Srivastava and remarks, “The administrative setup of Tqta. (Province) and the maintenance of the army of the Sultan were his contributions to the administration of the Delhi Sultanate.” Moreover, introduction of Arabic coinage such as silver ‘Tanka’ and copper ‘Jital’ were also wonderful contributions of Iltutmish. ADVERTISEMENTS: Iltutmish was a…

13Oct 2018 by Reese Bannister

Essay on the Life History of Qutbuddin Aibak

Friends

In the words of Stanley Lanepoole, “Qutbuddin was the real founder of the Muslim dominion in India.” Although the credit of the victories in India goes to Muhammad Ghori, yet Aibak was primarily responsible for the success of Sultan Ghori. Image Source: photos1.blogger.comThe consolidation of the victories was not done by Ghori for he mostly remained away from India. It was Aibak who carried out the consolidation on behalf of Ghori and strengthened the infant Muslim empire. ADVERTISEMENTS: Owing to the untimely death of Ghori the survival of the Indian empire was endangered but with his ability and farsightedness, Aibak not only saved the newly established Muslim empire from the politics of Central Asia but also organized it properly and well. He also consolidated his own position by establishing matrimonial…

13Oct 2018 by Reese Bannister

9 Important difficulties Faced by Qutbuddin Aibak During His Reign

Asia

Important Difficulties faces by Qutbuddin Aibak are described below: Image Source: static.panoramio.comHaving ascended the throne of Delhi, Qutbuddin found himself surrounded with many problems. His crown was not a bed of roses and he had to face the following difficulties in order to keep his position intact; ADVERTISEMENTS: 1. As Muhammad Ghori had no son, his ambitious nobles wanted to inherit his empire. In those days sword was the decisive factor and any person of power could acquire the throne, provided he had a will to get it. The Turkish slaves like Jaiuddin, Yaldoz, Nasiruddin Qubacha and Ikhtiyaruddin Khalji were stern opponents of Aibak.2. Yaldoz, had already Occupied Ghazni and wanted to establish his sway over Ghori’s Indian empire. He did not recognize the claim of Aibak and began to…

13Oct 2018 by Reese Bannister

Conquests of Aibak after the Departure of Ghori

Asia

When Muhammad Ghori returned to his homeland, Qjithuddin. Aibak commanded the situation very brilliantly. After his retreat the Chauhans of Ajmer tried to recover their independence and to cast away the yoke of Turkish slavery but Aibak proved a great hurdle in their way. He consolidated the pobition” of Turkish Empire and established his control over Bulandshahar. He also established his away over Meerut and Aligarh. Image Source: cdn.historydiscussion.netHe strengthened his power in Delhi and declared it the capital of Turkish Empire. In Ajmer, for instance, the idol temples were demolished to their very foundations and mosques and colleges were built, where “the precepts of Islam and the customs of the law were divulged and established. Conquest of Xannan (1194 A.D.): ADVERTISEMENTS: The fate of Prithviraj soon overtook Jaichandrft the…