Environment

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Posted by: | Posted on: February 2, 2009

Globalization and Financialization

Globalization and Financialization

The New Approach of Best Corporate Citizenship

Abstract

Globally speaking, the politics of globalization has been enormously debated. Current financial crisis has triggered the unenthusiastic brunt of people worldwide. This phenomenon is substantially caused by the impact of globalization. This paper will seek to understand the current financial crisis of financialization under the spectrum of globalization. The ongoing financial crisis of America and other regions of the world clearly translate the interconnectedness of the new approach of financialization conundrum. This paper elaborates the effect of globalization on financial flows and discovers the casualties from this crisis. The current United Nations Secretary General Ban Ki-moon called this crisis as “Slavery Perpetuated by Global Financial Crisis”.

First, there will be an introduction and some thought of pros and cons of globalization. Second, there will be an explanation of financial crisis, its casualties in our planet. Third, there will be suggestions and recommendations including the structure design to the new approach of best corporate citizenship to shoulder force in tackling this predicament.

Background

Globalization simply refers to the integration of regions into a global sphere. Many factors are considered the substantial proponents of globalization such as political ideology, social, culture, finance, technology, economics and geography that have drastically changed its shape to fulfill the lens of globalization. Many authors have linked current globalization to the belief of it is a repeating world history. Some said globalization has evolved around the expansion of human population and the invention of civilization such as the Sindhu of India, Roman Empire, or Han Dynasty of China. Some found that the historical routs of explorers and colonial agents are initially the links of flow of globalization such as the discovery of North America by Christopher Columbus or the Silk Road of Marco Polo. But the notion of globalization clearly emerged after the World War II when economists and politicians tried to restrain from continuing declining international economic integration and intractable division. The term itself was coined by different scholars interpreting in different periods. But in modern world, globalization has been preferably reiterated to identify the flows of trade, exchange of ideas and knowledge, technology, investment, and financial exchange. In Globalization and Its Discontent, Joseph Stiglitz defines globalization as “closer integration of the countries and peoples of the world which has been brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital knowledge, and (to a less extreme) people across borders” (Stiglitz, 2002). Part of this change is due to mobilization of labors and migration, but much of the larger part is due to changes in per capita income that is the “great divergence” as the ratio of per capita income of the richest to poorest nations are widened (Venables, 2006).

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Posted by: | Posted on: December 15, 2008

Animals and Plants as National Symbols of Cambodia

Animals and Plants as National Symbols of Cambodia

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Photo: thavrakhuon.blogspot.com

1- គោព្រៃ= Kouprey (Bos sauveli): The National Mammal of the Kingdom of Cambodia

The Kouprey, an original Khmer species, has been recognized worldwide and named in Khmer version by international biologists even though English, Spanish and French call it Kouprey. Its scientific name is “Bos sauveli” with a size: HB: 2100mm-2300mm; H: 1700mm-1900mm and W: 700-900 kg. The Kouprey is similar to the gaur or banteng but they are unique in having a very long dewlap hanging from the neck, in old males almost reaching the ground. The bull and cow horns are distinctly different. In the bull Kouprey, the horns have cores which are closer together and considerably larger; the horns form a convex curve for the basal half of the horns, dropping below the base, then rising upward and forward, extending slightly above the head with split at the tips. The horns in the female are lyre-shaped, corkscrewing upward, the tips are never shredded, and the cores are thinner and farther apart than in the male. The lower legs of the Kouprey are white or grayish and dark grayish at old age. In the pre-war period, hunting of the Kouprey was prohibited by declaration No. 191 dated January 20, 1960. After the Pol Pot regime, hunting was again prohibited by declaration No. 359 dated August 01, 1994, issued by Ministry of Agriculture Forestry and Fisheries. Kouprey was classified as a critical endangered species according to the IUCN Red List. International Trade of this species is banned, following Appendix I of the CITES Convention and Migratory Species Convention.

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Posted by: | Posted on: December 5, 2008

Cambodia-China Relationship and Its Enlightenment

Looking back to the history, Cambodia-China has longest tied relationship with each other. It is in both historical and contemporary co-operation. The name of Funan, an ancient Cambodian capital city, was literally coined by Chinese trader, and many other names of Khmer Kings during Funan period were entirely Chinese vernacular. The most significant notion is the Chinese Ambassador Chau Takuan who visited Cambodia Empire of Angkor. He inscribed the situation there vivaciously. His thesis becomes important historical manuscript for students and researchers to understand the culture of Khmer Empire in that time prior to its declination and seizing by the Siam eventually.

Recently, many Chinese top officers came to Cambodia with the same intention is to strengthen the relationship and boost the economic co-operation between two countries. There are several reflections to this tie and its future trend.

After the cold war, the tie with China was promoted in both economic development and political bloc rivalry. China provided aids to build Cambodia infrastructure and other industrial development tools. During Songkum Reastr Niyum led by King Norodom Sihanouk, there were concrete legacies of China’s support left in many fields. But when the aura of American war spread out in the region, China became the leading supporter to the Khmer Rouge to rally against America. American imperialistic war and China’s hard line resistance to the influence of America in the region resulted intractable conflicts and catastrophe in Cambodia. China and America were very keen proportion of peace and war in Cambodia in that time.

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Posted by: | Posted on: November 26, 2008

G8 Leaders Statement on the Global Economy

15 October, 2008

We, the leaders of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States of America, and the President of the European Commission, are united in our commitment to fulfill our shared responsibility to resolve the current crisis, strengthen our financial institutions, restore confidence in the financial system, and provide a sound economic footing for our citizens and businesses.

We welcome and commend the recent decisions and actions taken in support of implementation of the G7 Plan of Action, adopted by finance ministers and central bank governors and endorsed by the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund, which set forth a concerted framework for individual and collective action. These measures will help financial institutions gain access to needed capital, support systemically important financial institutions and prevent their failure, unfreeze credit markets, restart secondary markets for mortgages, and protect savers and depositors. We will implement these measures on an urgent, transparent, and non-discriminatory basis. We pledge continued close cooperation and coordination.

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