The Romanian Derivatives Market Dimensions And Evolution Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3229 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The derivatives universe is broad and over 1700 different derivatives are traded on three major derivatives exchanges: Chicago Mercantile Exchange Group, NYSE Euronext and Eurex. The Romanian derivatives market has a marginal position on Central and Eastern Europe. In addition, the offers of Romanian exchanges are rudimentary comparing with other exchanges from region. In this paper, we have noted some progress in activity of the Monetary-Financial and Commodities from Sibiu and the Bucharest Stock Exchange. The solutions for activitys improvement exist: collaboration with exchanges from European Union and national consolidation through merger or acquisition. 1. The importance of derivatives market Trading in futures began in the mid-19th century at the Chicago Board of Trade and the New York Mercantile Exchange. While these exchanges have continued to trade commodities, financial futures and options have become increasingly important since the early 1980s. The innovations process in this market is significant, and the strong competition between American and European exchanges have conducted to launch different contracts like weather derivatives, real estate futures and options, credit derivatives, volatility contracts or derivatives on carbon emission allowances. In present, the derivatives universe is broad and over 1700 different derivatives are traded on three major derivatives exchanges: Chicago Mercantile Exchange Group, Euronext and Eurex. In addition, the derivatives segment is the most important segment of financial market. [3] The derivatives market is highly dynamic because all most derivatives exchanges across the world have been set up during the last three de cades. In last ten years, we remark an explosion of mergers and acquisitions in this field, the result being the establishment of exchanges groups like Australian Securities Exchange, Chicago Mercantile Exchange Group, Eurex, Intercontinental Exchange or NYSE Euronext [5]. In addition, some exchanges have formed subsidiaries in order to enter into new market segments. For example, at the end of 2007, the New York Mercantile Exchange, together with companies in the financial field such as Morgan Stanley, Credit Suisse, JP Morgan, Merrill Lynch launched the Green Exchange where futures contracts and options for carbon emissions, sulfur dioxide and nitrogen oxide are traded. In December 2007, environmental exchange named Bluenext was set up; the initiative belongs to NYSE Euronext Group. The derivatives are usually trade for hedging and speculative purpose. The companies use futures and options contracts in order to protect against movements of prices, exchange rate, interest rate, and weather temperature. The hedging strategies based on derivatives reduce the volatility of companies` cash flows, increase the predictability regarding the expenses and revenues, and improve the financial situation and solvability of companies. [2] The use of these contracts in order to hedge some risks has some drawbacks. First of all, the exchanges` offer is limited, so companies could use these contracts as insurance against unwanted movements for price, exchange rate or interest only if specific assets are traded on futures and options market. For example, only some raw materials are traded on commodities exchanges and only important currencies are used as underlying assets for futures and options. Second, the hedging strategies imply some costs for operating on derivatives market in form of brokerage fees and margin deposits. The individual and institutional investors use derivatives in order to gain from price movements. In fact, derivatives are an alternative investment to buying and holding a tangible asset. In additions, they allow investment into assets or risk that cannot be traded directly. So, credit derivatives offer compensation payment if a creditor defaults on its bonds or weather derivatives pay compensations if temperature of a specific location exceed or fall below a reference temperature. Because the derivatives have typically notional value between 20 000 1 mil euro, the main users are financial investor and companies. [3] The popularity of these instruments has a negative connotation because of financial scandals determined by the improper use of derivatives. In addition, many economists talk about derivatives contracts like ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã‚ ¾financial weapons of mass destruction carrying dangers that, while now latent, are potentially lethal. These words were used by Warren Buffett in 2002 in a letter to Berkshire shareholders. So, many years ago, he saw a future that others chose to ignore. [1] Don’t waste time! Our writers will create an original "The Romanian Derivatives Market Dimensions And Evolution Finance Essay" essay for you Create order 2. The Romanian derivatives market structure and evolution The Romanian derivatives market is in development process. The two exchanges the Monetary-Financial and Commodities Exchange from Sibiu (SIBEX) and the Bucharest Stock Exchange (BSE) have made some efforts in order to improve their activity by launching different derivatives products. The pioneering role on Romanian derivatives market belongs to the Monetary-Financial and Commodities Exchange from Sibiu, established in 1994 on private initiative. In period 1994-1997, this exchange traded only spot contracts. The reference year for the set up of derivatives market in Romania is 1997, when the index futures contracts were launched. SIBEX calculated its own index named BMS 1 (after the Romanian name of exchange at that time Bursa de MÃÆ'„Æ’rfuri de la Sibiu) on the prices of some blue chips traded on the Bucharest Stock Exchange. Because of the extension of its offer, the exchange changed the name in order to adapt the name with its activity. The number of fu tures contracts concluded in 1997 was very low 77.877. In September 1997, the Bucharest Stock Exchange launched the first official index BET (Bucharest Exchange Trading) that is calculated on prices of most traded ten shares listed on this exchange. After that, the two exchanges signed an agreement for the use of BET index as asset for futures contracts traded on SIBEX and BMS 1index was replaced and did not use. In November 1998, SIBEX has launched option on futures contracts, but until the end of the year only 133 options contracts were concluded, in contrast with 193.203 futures contracts. The next years brought others innovations. In fact, the development of SIBEX activity was very slow. The first equity futures are available since 2000, the underling assets being shares issued by Financial Investment Company Banat CriÃÆ'†¦Ãƒâ€¦Ã‚ ¸ana, Financial Investment Company Transilvania and Petrom, the most important Romanian companies listed on the Bucharest Stock Exchange. The first commodity contract was launched in September 2002, the underlying asset being the grain. This type of contract is not available any more, now the only commodity traded on futures market is gold. The gold futures contracts could be used only for hedging or speculation purpose because the exchange established cash settlement as payment method. Since 2006, new index futures and options are available because SIBEX launched its own indexes SIBEX 9 and SIBX 18 calculated on prices of important blue chips listed on the Bucharest Stock Exchange. The year 2007 brought new type of stock futures and options for shares listed on Bucharest Stock Exchange. In 2008, the Monetary-Financial and Commodities Exchange launched the first foreign equity futures contract having as underlying assets the share of ErsteBank, the only foreign company listed on the Bucharest Stock Exchange. The development of activity has continued with new initiatives: in 2009, there were launched differenc e financial contracts and contracts on CO2 emissions and at the beginning of 2010, the futures contracts on Dow Jones Industrial Average are available on SIBEX. Fig. 1 The evolution of derivatives contracts` number traded on the SIBEX from Sibiu Source: www.sibex.ro The evolution of derivatives market of SIBEX was modest in period 1997-2004, and annual fluctuations were negative in 1999, 2001, 2003 and 2004. Since 2005, the interest of individual and institutional investors for exchange traded derivatives contracts has rising. Now, are available 36 types of derivative contracts: rate interest contacts, equity contracts, index contracts, currency contracts, commodities contracts, contracts on CO2 emissions and financial contracts on difference. Taking in account the number of derivatives contracts concluded, the year 2006 was the best year. The year 2008 has good results because the annual rise was 3,66%, so the international financial crises have not a dramatic impact on de rivatives market from Sibiu. In the last year, the interest of investors has diminished and the results were a dramatic decrease of the number of derivatives contracts concluded (around 45%). At the Monetary-Financial and Commodities from Sibiu, the futures market is the principal segment of derivatives market (the share of this market is around 99%) and this segment gives the trend of the whole market (table 1). These contracts are used for speculative purpose and for hedging strategies. Many investors with large portfolios of shares traded on spot market from Bucharest Stock Exchange use futures contracts traded on SIBEX in order to hedge the potential loss from the spot market. The shares used as underling assets are traded on spot market from the Bucharest Stock Exchange. Table 1 The key figures for futures market form SIBEX in 2007-2008 2008 2007 Value of futures contracts (RON) Number of futures contracts Value of futures contracts (RON) Number of futures contracts 7,557,181,984 3,578,582 11,688,114,092 3,456,023 Source: Activity Report of SIBEX`s Board 2008, p.9-12, https://www.sibex.ro The most traded contracts are futures contracts on shares issued by Financial Investment Company 2, 3 and 5, Petrom, Transilvania Bank, ErsteBank, and Rompetrol. In the year 2007, the notional value of futures contracts was over euro 3,5 billions and the annual growth rate was 20% even the number of contracts decreased with over 18%. [6]. In 2008, the decrease of price of underlying assets has affected the total value of futures contracts traded and the notional value of futures contract. For the year 2009, the most important segment of derivatives market is still the futures market, but the consequences of international financial crisis have influence the dynamic of this market. We remark an important decreas e of the value of futures contracts. Table 2 The key figures for futures market form SIBEX in 2009 Value of futures contracts (RON) % 2009 versus 2008 Number of futures contracts % 2009 versus 2008 2,466,816,575.58 32.64 2,430,849 67.93 Source: Activity Report of SIBEX`s Board 2009, p.6-7, https://www.sibex.ro Regarding the market` structure, we remark a very high concentration of the futures market. The shares are the most important underlying assets for futures contracts. The financial sectors represents by financial investment companies and banks account over 95% of the futures market. Two financial investment companies SIF 2and SIF 5 are the leaders on futures market in 2007 and 2008 (table 3). In the year 2008, the most important increase in liquidity was observed for RON/EURO futures contracts. The rise of the number of this type of contract was over 500% and the situation is due to the high interest of banks, multinational companies, investment funds and foreign trade companies for hedging strategies based on currency futures con5racts. In the year 2008, the most dramatic cut of contracts` number was registered for shares issued by Transilvania Bank (the decrease was around 88%) due to the decrease of interests investors and the suspension of this company for technical operations from the Romanian exchange. Table 3 Liquidity top at the SIBEX from Sibiu Contracts type Number of contracts 2008 Weight 2008 Number of contracts 2007 Weight 2007 DESIF 2 1,627,621 45.48 % 1,635,568 47.33 % DESIF 5 1,803,687 50.40 % 1,504,232 43.52 % DETLV 13,444 0.38 % 113,715 3.29 % DESIF 3 10,376 0.29 % 62,971 1.82 % DERRC 1,218 0.03 % 54,004 1.56 % DEBRK 9,189 0.26 % 35,267 1.02 % DESNP 23,364 0.65 % 3, 438 0.91 % RON/EURO 81,259 2.27 % 13,927 0.40 % Others 8,424 0.24 % 4,901 0.14 % Total 3,578,582 100 % 3, 456,023 100 % Source: Activity Report of SIBEX`s Board 2007, p. 11, Activity Report of SIBEX`s Board 2008, p.14 https://www.sibex.ro In the year 2009, we observed an increase of the concentration of the futures market that are dominated by the two financial investment companies SIF 2and SIF 5; their share market increased to over 95%. Table 4 Top five of the most liquid futures contracts at SIBEX in 2009 Contracts type Number of contracts 2008 Weight 2008 DESIF 5 2,106,791 86.96 DESIF 2 200,838 8.29 EUR/RON 95,837 3.96 DETLV 8,861 0.37 DESNP 6,608 0.27 Source: Activity Report of SIBEX`s Board 2009, p. 12, https://www.sibex.ro The options market form Sibiu has small dimensions an in spite of international financial crisis, we observed an increase of investors ` interest for these contracts because the buyers of options have an important advantage: the maximal lost is equal with the premium paid at the conclusion of contract. In the year 2009, a number of 52,438 options contracts were traded at Sibiu,the annual increased being around 30%. Given the economic and political context, the emergence and development of the Bucharest Stock Exchange was due to the initiation and conduct of the Mass Privatization Process. Thus, the Law no. 58/1991 regarding the privatization of state owned companies imposed the emergence of capital market and related legislation in order to allow trade, in an o rganized manner, of the vouchers shared to the population in the Process of Mass Privatization. Although the deadline imposed by this law, for adopting the law of securities and stock exchanges was 6 months; the Parliament approved this law after 2  ½ years, in 1994. So, the Bucharest Stock Exchange was established in 1995, later compared with other countries from Central and Eastern Europe. The development of the Bucharest Stock Exchange is influenced both by improving legislation in this area, which was aligned to the European Union standards and the diversification of securities launched (futures contracts, preference rights), that are in dramatic extension. In this respect, we mention the legislative changes and the Bucharest Stock Exchanges concern for stability of capital market, resulting in reducing the number of listed companies, being withdrawn the companies that have not complied the exchange regulations. At the beginning, the Bucharest Stock Exchange was a s pot market, where initially, only shares were traded. The capital market in Romania is a market of shares, bonds market being in a process of development, a phenomenon specific to the countries of Central and Eastern Europe. Although the legal provisions regarding bonds have been issued since 1990 (Law no. 31/1990 on companies), the first bonds issue was occurred quite late (1997) and the interest on the bond has intensified since 2001. The bond market is sustained by public authorities (local and central) that have decided to use this financing technique and have listed municipal bonds and treasury securities on the Bucharest Stock Exchange. The first futures contracts were launched in 2007 and the underlying assets are indexes of Bucharest Stock Exchange: BET and BET-FI. The futures transactions were modest; only 64 contracts were concluded in 2007. The value of these contracts was USD 225,162.53 (Euro 159,966.60). In 2008, the offer for futures contacts was improved and now, 1 4 types of futures contracts are available: 10 equity futures, two index futures and two currency futures (USD/RON, EUR/RON). For equity futures, the BSE chosen the blue chips traded on spot market: shares issued by five financial investment companies, Petrol, Transelectrica, Transgaz, ErsteBank and Transilvania Bank. Until December 2008, the number of futures transactions was over 900 and more than 17,000 of contracts were concluded. The notional value of these contracts is over USD 7,5 millions (Euro 5 millions). [8] The evolution of the futures market from Bucharest is presented in the next table. Table 5 The dimensions of futures market from Bucharest Year No of transactions sessions No of transactions No of contracts Value (RON) 2007 71 41 64 540,535,10 2008 250 922 18,018 19,308,627.90 2009 250 507 15,613 67,049,100.00 Source: www.bvb.ro So, the Romanian derivatives market has two components: the Monetary-Financial and Commodities Exchanges and the Bucharest Stock Exchange. The offer of SIBEX is richer than the offer of the BSE and the interest of investors in much higher for the derivatives contracts launched by the SIBEX. There are two similarities between the two exchanges: the main underlying assets used for futures contracts: shares issued by important companies listed on the BSE`s spot market and currencies: USD and Euro. very high concentration of the futures market; the leaders are futures contracts for shares issued by financial investments companies (the same situation can be observed on spot market: financial investments companies are the stars of spot market). Conclusions Even if the derivatives transactions are used from many centuries in developed countries, in Romania, exchanged-traded futures and options are available since 1997. The two segments of Romanian derivatives market the Monetary-Financial and Commodities Exchange from Sibiu and the Bucharest Stock Exchange had different evolution. The exchange from Sibiu was set up based on private initiative and its development activity is more intense than the activity of the BSE: derivatives contracts have been launched since 1997 and now, over 30 types of futures and options contracts are available on currencies, equities, interest rate and gold. The Bucharest Stock Exchange was established in 1995 as institution of public interest and received assistance from Canadian authorities. The purpose of setting up of this exchange was the support for Privatization Program. For this reason, for many years, this exchange has a single segment: spot market for shares and bonds. After the new law of ca pital market (297/200) came into force, this exchange was transform in private corporation. In addition, the futures contracts were introduced in 2007, but value of transactions is modest and the offer of derivatives contracts is limited. Even the evolution of these exchanges is different, we can observe a concentration of derivative transactions on futures segment and on the same underling assets: shares issued by financial corporations like financial investment companies created on the base of Privatization Program and Romanian or foreign banks (in fact, only a foreign bank are listed on the BSE ErsteBank and derivatives contracts are available for the ErsteBank shares on two exchanges). Romania has a marginal position on European derivatives market and the offer of Romanian exchanges is rudimentary. In fact, even in Central and Eastern Europe, the Romanian exchanges are surpassed by exchanges like Budapest Stock Exchange, Wiener Borse or Warsaw Stock Exchange. A solutio n for this problem could be the merger of two Romanian exchanges, a project that failed few years ago or the establishment of a regional exchange formed by exchanges from Central and Eastern Europe. These projects could be done taking in account the experience of other European integrated exchanges like Euronext and Eurex or the merger between Budapest Stock Exchange and Budapest Commodities Exchange from 2005. In addition, we must notice the harmonization of capital market legislation in European Union and collaboration between exchanges. For example, the Bucharest Stock Exchange signed some collaboration agreements with exchanges from Salonic, ChiÃÆ'†¦Ãƒâ€¦Ã‚ ¸inÃÆ'„Æ’u, Roma, Athena and London. At the end of 2006, the Bucharest Stock Exchange and the Wiener Borse has signed an agreement and in this way, the data regarding the transactions from Romanian market are available for Austrian investors. On agreement basis, Wiener Borse has offered Romanian author ities know how to launch futures contacts at the Bucharest Stock Exchange. In addition, in august 2007, the Bucharest Stock Exchange and Cypriot Exchange have signed a cooperation agreement through which the most important shares from the two countries can be listed on the two exchanges. Beside this collaborations activity, some interdependence between exchanges is created by purchase of shared issued by exchanges. For example, Wiener Borse is the main shareholder from the Budapest Stock Exchange and the Warsaw Stock Exchange has a small stock at the Monetary-Financial and Commodities Exchange from Sibiu. Analyzing the activity of exchanges form Central and Eastern Europe, a specialization of each exchanges is observed: the main sector for Warsaw Stock Exchange and Wiener Borse is stock index futures sector, currency futures are the most important derivatives contracts on Budapest Stock Exchange and in Romania, the stock derivatives are the main sector of exchange. So, foreign investors have opportunity to diversify their portfolio using different types of derivatives contracts available on exchanges from Central and Eastern Europe. The international financial crises has not affect strongly the activity of exchanges from all over the word if we take in account the increase of number of derivatives contracts concluded in 2008 compared with 2007. The most important actors that have an important contribution are the exchange groups like CBOE Holdings, Climate Exchange, Eurex, Intercontinental Exchange, NASDAQ OMS Group or NYSE Euronext and some Asian exchanges. The main explanations are the intense innovation activity of exchanges groups and the interest of investor for Asian markets in order to diversification of their portfolios. The exchanges from Central and Eastern Europe have been affected negatively by the international financial crises, but some segments registered a good evolution; for example, the Warsaw Stock Exchange and SIBEX from Sibiu.

19th Century Industrialization Essay - 1485 Words

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People from†¦show more content†¦The tide of immigration rose from just under 3 million in the 1870s to more than 5 million in the 1880s, then fell to a little over 3.5 million in the depression decade of the 1890s, and rose to its high-water mark of nearly 9 million in the first decade of the new century. The numbers declined to 6 mi llion in the 1910s and 4 million in the 1920s, after which official restrictions cut the flow of immigration down to a negligible level. (Tindall, 938) Immigrants thought of America as a land of opportunity and felt that they only needed to make to trip across the ocean to become successful. The roads paved with gold theory led to the downfall of the vast majority of immigrants. They came with huge aspirations but ended up working for extremely low wages and living in awful living conditions. Immigrants working for low wages and their constant availability was necessary for industrializations success. 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DQ Patho Free Essays

It is important to know what medications the patient is on and has been taking, what risk factors she has, and what other medical conditions she may be battling. The labs show an elevated white blood cell count with a high interruption level both Of which are indicators Of a serious infection. The wound culture shows a presence of Staphylococcus erasures which could be the culprit of the infection to the wound. We will write a custom essay sample on DQ Patho or any similar topic only for you Order Now She is also a diabetic who is overweight and of a short stature. I would immediately place Ms. G on a broad spectrum IV antibiotic for the cellulite and the open wound. Loud call to order a Doppler study to be done to rule out a DTV because she has been immobile for as many as three days and there is a significant difference between the sizes of her calves. I would order pain medication, antipathetic, and cold packs to provide comfort for the patient. I would immediately have a wound care nurse assist in the care and documentation of the wound and to help provide education to the patient on how to care for the patient. Blood sugars should be checked and a Hemoglobin IAC should be drawn to see how compliant of a diabetic Ms. G is. A diabetic educator should be consulted to help educate the patient on a proper diet, how to test her blood sugars, and how to proper use insulin if it is determined that is needed. I would also contact the case manager to help the patient set up home health visits because depending on the wound she could go home with drains, special dressings or possibly a wound Vic. I would also assess the patient’s living conditions. Loud also take the time to educate the patient on the importance of exercise, a healthier diet, weight loss techniques, and the importance of a healthier lifestyle. . Identify the muscle groups likely to be affected by Ms. G’s condition. The muscles that are affected include the Fibular longs, the extensor digitized longs, the tabloids anterior, and the gastronomic coleus. 3. What is the significance of the subjective and objective data provid ed with regard to follow up diagnostic/laboratory testing, education, and future preventative care? Provide rationale for your answer. Subjective data is the information that the patient reports concerning symptoms, previous treatments, medications used, and any other information the patient can provide you while objective data is collected from the physical exam, lab results, diagnostic test, and other measurable data (Altered, Cornell, and Ernst, 2012). In our patients case follow up labs should be drawn to make sure that our interventions are working appropriately. A CB with differential should be drawn to make sure the infection IS subsiding and her WEB and interruption are returning back to normal. Continued blood sugars should be monitored. Fasting and one hour postprandial should be completed and be maintained within normal limits. Our patient should be educated on her Diabetes. She should understand that this disease process increases her susceptibility to infection and can cause any wound she receives to have some delayed healing. She should be educated on the importance of a healthy diabetic diet and keeping her blood sugars within normal limits. If she has never learned how to test herself, she should provide a return demonstration to either the nurse or the diabetic educator so she knows she is doing it properly. The patient should be provided with education regarding weight loss. She is obese and of short stature. This increases the risks for decreased physical activity, commodities like diabetes, and can delay wound healing. She needs to be provided with not only information on a healthy diet but also programs that can provide her with meals if she is unable to cook for herself. Physical therapy might also be an excellent idea for her to participate in. She could do nice light stretching, swimming, or low impact work to help her become more active and involved in her care. 4. What factors are present in this situation that could delay wound healing, ND what precautions are required to prevent delayed would healing? A diabetic patient can have impaired vascular flow and poor perfusion which causes poor tissue oxygenation and this can delay healing. Hypoxia can amplify the early inflammatory response, prolonging injury by increasing the levels of oxygen radicals (Guy Dippiest, 2010). Diabetics are prone to hypoxia, enumerator, and decreased host immune resistance. The patient is obese which means she has decreased vascular in adipose tissue, skin folds that harbor micro-organisms, skin to skin friction, increased tissue reassure and venous hypertension. How to cite DQ Patho, Papers

Bruce Lee Essay On Self Defense Example For Students

Bruce Lee Essay On Self Defense Bruce Lee was born in the Chinese year of the dragon, in the hour of the dragon on November 27, 1940. From the beginning, it was obvious he was a remarkable and unique child with tremendous energy. His mother named him Lee Jun Fan, which meant return again. She felt he would return to the United States where he was born while his parents were on tour with the Cantonese opera. A nurse suggested he be called Bruce as an American name for him. Childhood Bruce Lee was born in San Francisco at the Jackson Street Hospital in Chinatown. When he and his family returned to Hong Kong in 1941, he was called Sai Fon, which meant small phoenix, a feminine name. Bruce had an older brother who died as a baby. The Chinese blamed this on evil spirits or demons who take the lives of male babies to destroy the familys name. So they dressed Bruce in little girls clothing and called him Sai Fon. When they returned to Hong Kong, the Lee household consisted of Mr. Lee, his wife Grace Lee, Bruces two sisters, Agnes and Phoebe, his older brother Peter, and later to be joined his little brother Robert. Bruce grew up in a very crowded house. He lived in a two bedroom flat. Upon the death of Mr. Lees brother, he, as in Chinese custom, had to taken in his whole brothers Family and had to be the provider. This meant nearly 20 people lived in the flat. It was through his fathers connection that Bruce ultimately became a child film star. His own acting ability was clear from the beginning. Bruce posed as a great natural actor and possessed a great natural ability for acting. His father used to take him backstage. As a young boy, Bruce always hung around the set where his father was working on film. Few people have started a major film career as early as Bruce did. He as barely three months old when he was given the part in a Chinese movie made in San Francisco. Another movie called The Beginning of a Boy he made in Hong Kong when he was six. Bruces favorite saying from when he was just starting Kung Fu up to when he died was, As long as I can remember, I feel I have had this great creative and spiritual force within me that is greater than faith, greater than ambition, greater than confidence, greater than determination, greater than vision. It is all combined. My brain becomes magnetized with this dominating force, which I hold in my hand. Bruce had learned this from Master Sifu Yip Man. Influences Shortly after Bruce entered La Salle College of China (middle school to us), he came home one day and told his mother he was being bullied around after school. He wanted to be trained in the martial arts. His father practiced Tai Chi Chuan, which is a series of exercises and moves carried out in slow motion. Bruce had joined his father once or twice doing Tai Chi, but the slowness of the movements did not appeal to him. His teacher became Master Sifu Yip Man, a master at Wing Chun system of Kung Fu. Yip Man showed Bruce a way to find direction in life, he interested his young student in the philosophical teachings of Buddha, Confucius, Lao-Tze, the founders of Taoism, and other great spiritual Leaders. As a result, Bruces mind became a sponge of the wisdom of such teachers, specifically, but not exclusively, the deep teachings of the Yin-Yang principle. Yin-Yang is generally represented by the double fish symbol, the foundation of which stayed with Bruce and guided him through his adult life. .u20338ce32c8c6e40471b849e51ea1adb , .u20338ce32c8c6e40471b849e51ea1adb .postImageUrl , .u20338ce32c8c6e40471b849e51ea1adb .centered-text-area { min-height: 80px; position: relative; } .u20338ce32c8c6e40471b849e51ea1adb , .u20338ce32c8c6e40471b849e51ea1adb:hover , .u20338ce32c8c6e40471b849e51ea1adb:visited , .u20338ce32c8c6e40471b849e51ea1adb:active { border:0!important; } .u20338ce32c8c6e40471b849e51ea1adb .clearfix:after { content: ""; display: table; clear: both; } .u20338ce32c8c6e40471b849e51ea1adb { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u20338ce32c8c6e40471b849e51ea1adb:active , .u20338ce32c8c6e40471b849e51ea1adb:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u20338ce32c8c6e40471b849e51ea1adb .centered-text-area { width: 100%; position: relative ; } .u20338ce32c8c6e40471b849e51ea1adb .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u20338ce32c8c6e40471b849e51ea1adb .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u20338ce32c8c6e40471b849e51ea1adb .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u20338ce32c8c6e40471b849e51ea1adb:hover .ctaButton { background-color: #34495E!important; } .u20338ce32c8c6e40471b849e51ea1adb .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u20338ce32c8c6e40471b849e51ea1adb .u20338ce32c8c6e40471b849e51ea1adb-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u20338ce32c8c6e40471b849e51ea1adb:after { content: ""; display: block; clear: both; } READ: Vegetarianism EssayHardships When Bruce Lee was eighteen years old, his family feared that he would oin a gang, so they decided that he should return to San Francisco. This hurt and broke Bruces heart to be away from his family. He always made the best out of impossible situations. The trip took eighteen days on a steamship. Bruce was also an expert dancer, and had won a crown for the cha-cha in 1958. So to pass the time away, he spent most of his it in first class performing and demonstrating the cha-cha. He even showed a few passengers a few dance moves. Upon arriving to the United States, he wanted to be the first to teach any martial arts, particularly Kung Fu, to the people in his new country. He felt that what he had to offer was far greater than physical martial arts techniques. He soon realized he did not have the necessary manpower of instructors to teach his principles to such a group. Nor would he ever. Bruce always had a training regiment, one day he disregarded a part of his routine. He failed to warm up properly before beginning his weight lifting routine. He bent over to pick up weights, and he injured his fourth sacral nerve permanently. He was told to give up Kung Fu. Bruce stayed in bed with no movement at all for three months. This made Bruce angry and full of rage. He ontrolled his anger very well by writing a book with the exclusive help from his wife. While he spoke the words to write, she wrote them down because of his handicap. Bruce worked himself back to normal very slowly. He died at the age of 32 of hypersensitivity to a combination of ingredients contained in a headache pill someone had given him. But Bruce Lees death today is still a controversy, because different people think he died of different ways. Nobody has been proven right, yet no one has been proven wrong. Accomplishments Bruce Lee had finally found a way in which he could show the vast ajority his extraordinary talents. Bruce starred in the show Green Hornet. A very popular show in the United States and in Hong Kong. He also starred in a television show called Longstreet. Longstreet was one of the best martial arts shows of all time on the air. Bruce Lee was also involved with a popular TV show called Kung Fu, starring David Carradine. The essence of Lees life was not in the skills he had achieved, nor the money he made, nor the fame he created. To him, his greatest achievement was he made himself, himself. Physically, he turned a skinny frame into a deadly or gentle tool. Mentally, he gave deep wisdom. Whatever Bruce Lee decided to do, whether it was to be a fighter, an actor, a dancer, or being a friend, he always gave it his all. And in a lot of cases, his all was the best. Reflections I find Bruce Lee is both idolized and magnificent. He is one of the worlds best martial artist that ever lived. Maybe even to some people he was, is, and will always be the greatest martial artist that ever lived. He is a great man that can be looked at by many different angles: he was a martial artist, a dancer, an actor, and a very wise person. He has taken everything bad hat fate had given him and turned to be a marvelous feat, such as: racism, because he was Chinese, there was a lot of put-downs, and stuff that people said he couldnt do. Yet he was the first and the best martial art teacher there ever was, and is. He was the first to teach all different races. In one case mentioned earlier in this report, doctors said he would never walk, let alone fight, dance, or act again. Yet slowly but surely he walked, fought, danced, and acted better than he ever did. In my own opinion, Bruce Lee is the greatest example of what a Everything human being should be.

The Bottomless Pit - Woyzeck Essays - Woyzeck, Georg Bchner

The Bottomless Pit - Woyzeck Topic# 1: A commentator has remarked, ? Clearly Buchner considered that while social revolution might help the Woyzeck's of the world, it could hardly save them?. Is Buchner's vision of the world of Woyzeck essentially fatalistic, a dystopia from which there is no escape? Georg Buchner's classic play ?Woyzeck?, unfinished, yet ahead of its time, has only this past century achieved notoriety for its visionary script and modernity. Buchner, a young radical of his time, intended this work to act as a social protest against the oppression and conditions of the impoverished. The work shows its audience the extreme tragedies that befall those trapped in poverty, those who have lost all hope, and therefore become acquiescent to their environment, which in turn furthers their hardship. Despite the main characters' pleas for aid, and or spiritual intervention, they are trapped in their situations. Buchner offers no hope to them of any kind for redemption or salvation. Poverty is presented as a vicious cycle, one that destroys everything in its path. The obvious apocalyptic language and visions that Buchner employs in the play all stress the pessimism surrounding the characters, and the fatalistic and dystopic environment in which they are forced to survive. Woyzeck, the central protagonist, and his common law wife Marie, are left to the mercy of their society and manipulated by those around them. Characters like the Doctor, Captain, and Drum Major contribute to Woyzeck's downfall, and the subsequent murder of Marie: the Doctor treats Woyzeck like an animal and is completely unconnected to his reality, the Captain tries in vain to morally reform Woyzeck, a man whose hunger is first and foremost on his mind and not the condition of his morality, and finally, the Drum Major humiliates Woyzeck by seducing his wife, and later assaults him in front of his peers. All three men cannot possibly understand Woyzeck's state of mind and situation, and disregar d him in all his pain and suffering. They mock his humanity, and ignore him when he asks for answers to the questions that might have eased his troubled and irrational mind. The Captain plants the jealous seed of doubt and anger surrounding Marie's infidelity in Woyzeck's mind. The effect of this would not have been so successful if Woyzeck had not been already so desperate, destitute, and verging on madness. Woyzeck explains his dire existence to the Captain in scene one of the play: Woyzeck: ?When you're poor like us, sir?It's the money, the money! If you haven't got the money? I mean you can't bring the likes of us into the world on decency. We're flesh and blood too. Our kind doesn't get a chance in this world or the next. If we go to heaven they'll put us to work on the thunder? (Pp.108) Here one sees that Woyzeck believes that even if he made it to the eternal paradise of heaven, his suffering would still continue, as he would be made to work on the thunder along with the rest of the poor. Woyzeck perceives no glimpse of a better life or future for his family, and accepts his fate to live as a slave to others. He allows the Doctor to perform weird and degrading experiments on him, such as placing him on a strict diet of only peas for three months, and he allows himself to be berated for relieving himself in the street. Woyzeck does all this just so he can earn a few measly dollars to support Marie and their child. There is no utopic blueprint in this play. Buchner does not create a new model for humanity, or for how poverty should be dealt with, he just shows it to us in all of its anguish. Woyzeck's only escape from his pathetic life is his love for Marie. She is the only thing that he loves, and cherishes. Her affair with the Drum Major drives Woyzeck into insanity, and he ends up killing Marie, the only thing that kept him sane. Woyzeck says concerning self-control, that the poor can't possibly do anything but obey nature's call, much like the horse displayed at the fair: Man in his unidealized state. Woyzeck: ?Oh, self-control. I'm not

African press draws Haiti essays

African press draws Haiti essays African press draws Haiti lessons On Sunday, February 29, 2004 Jean-Bertrand Aristide left the country of Haiti. It is unknown as to where the exiled President went to considering all sort of communications were cut of the previous week in Haiti. The radio stations were shut down; the television stations were shut down and everyone were advised to stay inside. The unclear news of Aristides whereabouts is solely for his safety, so we are told. There was news that Aristide was supposed to go to Puerto Rico, but that planned changed after discovering that ex-president Cedars was waiting for Aristide in Haiti. The ex-president of Haiti worked closely with the rebels of Haiti in the many coup datas that have occurred while in office. Many radio stations in Haiti now are stating that Aristide has gone to Africa. This is still a rumor according to a 1020am Haitian station in Miami, FL. Though there is little cheer for the intervention in Haiti, there is less for President Aristide who "helped seal his own fate", says South Africa's This Day. The commentators in Africa really dont want Aristide to shelter there because they fear the problems, which follows Aristide. I ask myself and others in question why Africa. Aristide didnt leave the country voluntarily. It seems as though he did, but when someone suggest something to you as though you NEED to do it rather than you SHOULD, becomes as you really now having a choice in the matter. I too, believe that by Aristide going to Africa (if that is the case) it somehow place the African country in a tight position. Today Chief Justice, Bonaface Alexandre, a well-known, well-respected Law professor in Haiti, is controlling the Republic of Haiti. ...

Media Ethics in International Public Policy Essay

Media Ethics in International Public Policy - Essay Example The description of ‘linkage’ as presented above can be differentiated among researchers in political science. As an example, Luttbeg (1974, 3) describes ‘linkage’ as ‘any means by which political leaders act in accordance with the wants, needs, and demands of the public in making government policy’ (in Kennamer, 1994, 2). In accordance with the above, media can have their own way of influencing the development of social and political conditions around the world but their role can be limited in states where there are no wide borders for such activity – as par example in states governed by less democratic regimes. On the other hand, media can have a significant role in the presentation of political and social events around the world and in this way they can influence the international public policy as it is designed and applied by governments globally. Indeed, Spitzer (1993, 4) supported that ‘coverage of international crises may have a different policy consequence as well, in that media-supplied information may be useful, even vital in supplanting government-obtained information, and therefore in shaping decisionmaking’. The war in Iraq and the role of media in the presentation of the relevant events are used by the above researcher as an indicative example of the interaction between media ethics and international public policy. In the particular case, media around the world have been extensively criticized for their views regarding the reasons and the justification of the military intervention in the specific country. In a similar sector, this of the human rights, media have played a significant role in the identification and presentation of problems of citizens living in developing countries internationally. Regarding this issue, media ethics have been used in order to prevent the presentation of scenes that could possibly harm the human rights and indignity. On the other hand,