Benefits of SharePoint to Business

With the growth of companies, SharePoint is emerging at a rapid speed each day. As a company grows, it becomes difficult to manage the documents, files and their position. SharePoint Development stores the documents and files and allows sharing it on a main site.

SharePoint is basically a web based management system that enables employees to collect and configure resources through a common platform. It allows a company to create resources like project portals, extranets and team websites.

SharePoint is a product by Microsoft and is used to build up information portals in the company. The portal allows people to connect with the information presented in the organization.

SharePoint is being implemented by over 18000 organizations all across the world. Some of the main benefits offered by the product are as under:

Allows you to share work from a central place
Allows you to create and store content using document library.
Provides revision control and access control in the document library
Allows you to create reports on a regular basis all through the organization
With the help of portals on portals on Extranet, Intranet or Internet sites, one can connect with other individuals in the organization in spite of their location by creating information.
Helps you to control the complete business processes of a company
Enables you to plan and examine the performance of a procedure
Allows every individual to participate in decision making process of the organization
Provides search element to find the necessary information and data within a short span of time
Helps in easy creation and maintenance of the sites.
Any type of site can be crated, varying from document libraries, survey sites, departmental sites, meetings sites, and discussion boards as per the requirement of a company.

The various services offered by Microsoft SharePoint Development include:

Web Part development
SharePoint Site Development
SharePoint Portal Development
Business Process Development
Document Management System
Learning Management System
Workflow Integration
Backup Systems
SharePoint Branding
SharePoint Consulting
Advanced Search Solutions
SharePoint Excel Services

One of the biggest troubles faced by any business is to manage the files and documents that are stored in different formats and at different places. SharePoint provides a centralized portal with credentials in Ms Office format. They can be accessed by everyone, without any compatibility issues.

To sum it up, every business has a certain amount of information that needs to be kept safe and readily accessible. SharePoint has been developed to serve this purpose.

Visiting Frankfurt, Germany - One of the World's Richest Cities

Within the Main River Valley, just east of where the Main meets the Rhine, sits the prevailing city of Frankfurt. Presently and historically considered a nerve center for commerce, banking, and transportation, Frankfurt am Main of west central Germany possesses many aspects of the old world that function as a viable part of this contemporary city.

Visitors to Frankfurt am Main, not to be confused with Frankfurt (Oder) a small city in northeastern Germany, will find its location ideal. Situated on both sides of the Main River, this hilly region is totally surrounded by rich forest; settlement in the area goes back to 1st Century Roman times.

Significantly, Charles I held a royal court in Frankfurt in the 800's. During the Middle Ages, kings of the Holy Roman Empire were elected here, and, later on, emperors were crowned in Frankfurt. In the mid-1800's, Germany's new parliament first met here. Consequently, Frankfurt has been at the forefront of German and European change.

Currently, Frankfurt is at the heart of economic growth for the region. The European Central Bank, a number of major German banks, and the Frankfurt Stock Exchange together have made this city a major financial center of the European Union. Many international companies call Frankfurt their home away from home.

Frankfurt has traditionally been known as a marketplace for meeting and exchanging goods. More than fifty trade fairs and exhibitions are still held in Frankfurt yearly. Most notably, the Frankfurt Book Fair in mid-October and the International Automobile Exhibition in September.

Frankfurt offers travelers varying means of transportation in, out of, and around the city. The Autobahn converges at the city. The Frankfurt Airport is considered one of Europe's busiest. A train station is located at the airport as well, making intercity travel quite convenient. Within the city, public transportation includes buses, above ground trams and the S-Bahn and U-Bahn underground train lines. Additionally, bridges in Frankfurt connect the banks of the Main River. Most notably, the Eiserner Steg (Iron Bridge) has been open to walking traffic since 1869.

One of Frankfurt's cultural attractions, the Museumsufer (Museum Embankment) contains a varying array of museums, located along the Main, with themes ranging from history, to art and architecture. An end of the summer cultural festival, Museumsuferfest, attracts over three million visitors every year to this area.

Numerous historical attractions entice visitors. The Romerberg area of old downtown was a series of houses that were acquired in the 14th Century from a wealthy merchant. The main house is the site of the city's first town hall. The area was rebuilt to original specifications after the Second World War.

Saint Bartholomeus' Cathedral is a gothic structure built during the 14th and 15th Centuries. It's known as the main church of Frankfurt. In 1867, the cathedral was destroyed by fire, but was subsequently rebuilt.

Saint Paul's Church was established in 1789. Germany's first parliament met here in 1848. The interior of the church was partially destroyed during the war, but was built up again with modern fixtures.

Visitors can also experience the Frankfurt Opera, site-see at the Saalburg, an old Roman fort, and become enlightened by activity at the Johann Wolfgang Goethe University. Named after the celebrated writer and poet born in Frankfurt in 1749.

Frankfurt's extensive history is preserved, but the city has been renewed in order to meet present-day needs. The ancient city's marketplaces where trade and commerce took place have been updated. Frankfurt now promotes economic stability for the entire region. The city's many skyscrapers reflect this while postulating the direction of Frankfurt's further growth.

Haiti - Root Cause Of Poverty

The present high level of poverty of the common people in Haiti today has its roots in the turbulent history of the first Black Republic in the world. After destroying the Napoleonic Army on the bloody battlefields of Vertières, liberating themselves from French colonialism and slavery, and thus proclaimed the independence of Haiti in 1804, Haiti's new ruling elites were confronted with a daunting choice: restoring the economy by re-instating the sugar plantation system or preserving emancipation by allowing small and inefficient land holdings. The Haitian people resisted to a return of the system of forced labor that is required to maintain the sugar plantations; which they regarded as the other side of the coin of slavery. They instead demanded economic independence and an equitable land distribution for all. The decision to do away with the erstwhile profitable plantation system into small peasant farm holder began a process of reducing the earning power of the newly liberated citizens of Haiti, and hence the economic clout of the 'Jewel of the Antilles'.

A few years after the decision was taken to liberalize land ownership, which translated into drastic reduction in foreign exchange earnings of the new republic, in order for the populace to feel truly liberated, a grave danger to the very existence of the new republic surfaced. This was a threat from the shameless defeated colonial power France to invade Haiti anew. A French naval force was already strategically positioned in the Caribbean Sea off the coast of Cap Haïtien. France has emphatically hrefused to recognize Haiti's independence until it agreed to pay an indemnity of 150 million francs to compensate for the losses of French planters in the slave revolution. Payment of this indemnity brought the government deeply in debt and crippled the country's economy.

As if to add salt to an already festering sore, the great slave owning powers of that time in human history, France, Spain, Britain and even the fledgling United States of America, which Haitians had helped in its time of needs to survive the onslaught of a British invasion, have mounted a total economic boycott against Haiti. This concerted but unwarranted economic embargo on Haiti, along with payment of the imposed indemnity of 150 million francs to France, when taken together could be said to be the second root cause of Haitian poverty. The effects of these punitive measures are still felt by the common people of Haiti up till today.

However, one historically important contributive cause to Haitian poverty is the inherent instability of Haiti's political terrain. The period between the expulsion of President Boyer in 1843, after he capitulated to France's demand for indemnity, and the first American invasion in 1915; is generally regarded as the chaotic era in Haitian history. A notable historian of the period, Leyburn, summarizes this chaotic era in Haitian history as follow: "Of the twenty-two heads of state between 1843 and 1915, only one served out his prescribed term of office, three died while serving, one was blown up with his palace, one presumably poisoned, one hacked to pieces by a mob, one resigned. The other fourteen were deposed by revolution after incumbencies ranging in length from three months to twelve years."

This extremely high level of political instability contributed in no small measure to deprive Haitians the peaceful environment needed for economic empowerment, which would have translated to their economic growth. The period of the first American occupation of Haiti, though frequently touted as one of relative peace and progress in infrastructural development, was more of a peace of the graveyard. Several rebellions against the American occupation by Haitian nationalists were brutally put down. In one such incident, over two thousand Haitians, popularly known as 'cacos', were killed by the American marines as they were protesting American racism and economic deprivation.

In another instance, unarmed peasants during a march protesting for better economic conditions were, on December 1929 in Les Cayes, mauled by United States marines where more than ten defenseless Haitian peasants died. All said and done, American occupation of Haiti from 1915 to 1934, rather than reduce poverty among the ordinary Haitians, only exacerbated their plight, while American Multinational companies were making record profit level by exploiting Haitian cheap labor. Instead of reinvesting these profits in poverty alleviating programs in Haiti, these companies repatriated their profits home to further boost American wealth, while further impoverishing hapless Haitians. Thus we can say that the first American invasion and subsequent occupation of Haiti, is one of the root causes of Haitian poverty.

Poverty in Modern Day Haiti

The recent political and economic history of Haiti is an extension of its past history. Before the Americans left Haiti in 1934, as they always tend to do, they installed a puppet government in Port-au-Prince, which main preoccupation was to look after American commercial and business interests and thereby feathering their own financial nests in the process. Development or expanding Haiti beyond Port-au-Prince was of no importance to them, and hence empowerment of the masses in Haiti was put in abeyance. The arrival of the Duvaliers, 'Papa Doc' Duvalier and his son 'Baby Doc' Jean Claude Duvalier, was initially heralded as a ray of sunshine of hope in a dark cloud of misery and poverty. The poor masses soon had their hopes shattered.

Although 'Papa Doc' started well in 1957 with a modicum of rural development programs, he soon turned into a tyrant protecting his power. To his benefit, it is worthy to mention that he too was faced with an embargo from the Black Eagle. When Papa Doc died in 1971, he was succeeded by his son Jean Claude Duvalier. His father was a bit more interested in the well being of the masses in the countryside. Jean-Claude neglected the countryside and further exacerbated rural poverty. All of the revenues generated through foreign grants and World Bank loans were wasted on his consumptive lifestyle and those of his cronies and the new elites in Haitian society. Baby Doc only added another chapter to the sorry story of Haitian poverty.

Today, Haiti remains the least-developed country in the Western Hemisphere and one of the poorest in the world. Compared to other low-income developing countries in the Western Hemisphere, Haiti has not made much social and economic headway since the 1980s. Haiti now ranks close to the bottom of all the countries in the United Nation's Human Development Index. Almost eighty percent of all Haitian population lives in abject poverty, ranking the country second-to-last in the world in a comparison measure of global poverty.

What is an Economic Recession?

Economics is the science that primarily deals with the making, sharing and utilization of goods and services that a society produces. In fact, the most interesting aspect of economics is that it affects almost every walk of life, be it political, social or financial. Economic growth is very important for any country as it basically relates or acts as the pillar of the country. Now, if there is a decent economic growth, it usually defines that the businesses in the country are earning a good profit. And adding to this, it even shows that the rate of employment is high and the nation is strong on forex reserves. However, the reality of other side of the coin is that the economic growth can't always remain unaffected. The economy of any country too goes through a cycle of 'peaks' and 'troughs' that constitutes the 'Economic Cycle' and this basically relates to "Economic Recession".

Today an economic recession can generally be referred as a downfall of commercial activities over an extended period of time. Though, this duration is basically connected with a radical crash in the Gross Domestic Product, it can also be considered as a phase that basically emphasize on budgets and essential capacity-utilization alteration. During this phase, strict business-contractions take a toll on a country's financial system, over a constant period of time. Apart from all these, this period is exemplified by the presence of macroeconomic deviations and a severe fall in the business profits and personal income. Moreover, other than Gross Domestic Product growth, elements like the current national unemployment rates, consumer self-belief and their level of spending are also measured while deciding whether the financial system is going through a recession or not.

What makes an economic recession a serious issue for any country is that during a recession, the government generally implements macroeconomic policies like raising the supply of money and in return decreasing the taxation. However, in the US economy, the Federal Government resorts to lessening the Federal Funds rate to revitalize the slow growth of economy. During the reviving the economy, basically the interest rates are decreased by the supervisory body to pull business and aid people to borrow money at a reduced level. However, the best part of a recession is it even provides numerous opportunities to view the competence of government machinery and further review its expansionary macroeconomic policies.

Along with its drawbacks, an economic recession also offers a number of benefits. No doubt, in adversity there is always an opportunity and perhaps the same rule applies with an economic recession. The period actually enables the evaluation of the efficacy of a community crisis management and budget plans. Besides this, for individual or unit, like a family or society, this period even provide an opportunity to re-work on the previously designed survival strategies and create new ones in order to test the onset of economic disorder. Adding to this, it is a time, when entrepreneurs are able to sift the innovative from the fair-weather employees. New investors benefit from buying low and selling high. And, the same approach relates to the ground of real estate. Perhaps, you must not surprise to see that homeowners taking gain of the marketplace and job loss situation, and getting property renovated.

Thus, on a broad positive note and more on psychological aptitude, this is a period when downturn fuels to turn as volunteer and leads to emotional healing. In fact, one cannot deny that an economic recession makes an individual and the government machinery of a nation wiser. Consequently, it results to the employment of management strategies and necessary decision-making in good times.

China 2007 - The Property Revolution

After joining the world trade Organization in 2001, China is taking steps to become a great Capitalist country.

March of 2007 is to be remembered as the Great Revolution turning point for China to become a fully capitalistic country. China's Authorities declared legal individual property, which is a great step ahead for China's economy which was based for decades on collective or public property.

Even though rural areas are under the old property legal system, the fact that the National Popular Assembly voted almost unanimously the Law of private property, indicates that China is becoming more integrated into capitalism and into the Global Economy.

Prime minister Wen Jiabao explains the "great jump" as a way to change from the days of instability and lack of productivity, into a new order where quality products and high levels of productivity are mandatory.

One of the reasons to approve the Law of Private property is the financial situation of state owned companies and the sagging contribution to employment which has become a great concern for China's central government.

Since 1978 the government of the People's Republic of China is reforming its economy from a Soviet style centrally planned economy, to a market oriented economy withing the political framework of the Communist Party Of China.

Economic changes are helping to bring down the poverty levels, from 53% in 1981, to less than 8% nowadays. However, Chinese prosperity is still concentrated in the coastal and southern provinces, while efforts are being made to expand the prosperity to the inner provinces and the industrial northeast.

Foreign trade and investment are helping increasing levels of income, consumption and productivity. The government is focusing on foreign trade as a way to promote economic growth.

China's growth is so strong, that it is the first in the consumption of aluminum, steel, copper and coal and the second biggest consumer of oil in the world. With a cheap labor force of more than 800 millions workers, China's economic potential is huge.

Compared with developed countries, China lags behind in areas of science, technology, management, ecological environment protection, educational quality and organizational levels.
Joining the world Trade Organization is paying off for China's economic growth, as foreign direct investment is surging.

With economy growing at rates over 10%, and exports growing at a steady pace, the future is promising for the new member of the Capitalistic Club.
Even though there are many countries feeling threatened by China, we have to admit that there is a new great door to opportunity being opened to industrial and trade investors around the world.

Special Report - The Art Of Economic Espionage - Why China Is Crushing America's Global Supremacy

Modern historiography specialists have long argued that an essential segment in the study of human evolution is inextricably tied to the basic understanding that societies generally emerge, progress and fall cyclically. Such frequency in social evolution is not just a consequence of endogenous factors, it also results from the impact of the external environment, be it close - neighboring constituencies vying for the same resources - or far - as part of a larger geographical area.

History teaches us another fundamental truth, predominantly unveiled in social sciences: humans are inherently prone to believing in the danger of the unknown, the fear that uncertainty - when present in life - brings an intolerable level of complexity in handling daily activities. Economists, in tandem with the larger group of social scientists, ascribe the word "risk" to this angst.

Risk lies in everyday life. From birth to death and in between the terrestrial episode called life, humans experience a sophisticated relationship with risk and utilize it as a powerful catalyst to furthering their interests. We fear the unknown not just in temporal terms - e.g.: what will tomorrow be? - but also in more practical, present-day terms, that is, what will happen today?

In assessing the rectitude of our daily decisions, the analysis of the environment we live in becomes of critical importance. There emerges then the need to know, understand and act on a variety of variables that make up our ecosystemic reality. Neighbors are a major part of that reality.

The indubitable observation that humans are 'sociable animals' implies a life in community, which in turns posits the sharing of interests, destinies and geography. We share our lives with neighbors, other humans whom we don't fundamentally know and whom we believe are different from us. Neighbors, in continental philosophy, are the 'constitutive other' as opposed to 'same'. Neighbors are different, and because of that, they must be hazardous to our very existence, hence "hell is other people" (Jean-Paul Sartre).

Consequently, our desire to know the 'other' and what they're undertaking forces us to constantly be in a question mode: ergo, we resort to spying. Espionage is ingrained in basic human instincts from cradle to grave. First, we ape our relatives, then our acquaintances and later our neighbors. In that quest for knowledge, humans recklessly spy on each other in a bid for power. Once they determine with a reasonable degree of comfort the neighbor's strengths, the overwhelming tendency is to match it, surpass it, annihilate it, keep it at a politically acceptable level, or use a combination of all these options if the socio-historical continuum of events demands it.

Doubtless, the need to control the military and economic standing of neighbors is the quintessential, albeit hidden, dogma of modern geopolitics. Doctrinal differences may abound, but a studious analysis of contemporary events demonstrates clearly that wars and other man-engineered crises have historically proven to be good ways to rebalance powers among neighbors, or more precisely, within geographical zones. Crises, facts have shown, drive innovation and quality of life.

Espionage is not a recent discipline within political science. It has been a staple of human history for the past 2,000 years and even before. Throughout history, nations have risen or fallen based on their ability to collect data from rivals and use that body of knowledge to gain a competitive edge. History also suggests that societies that show a disinclination for 'outer research' of their environment, and consequently, a significantly lower number of exogenous interactions - be it cordial or belligerent - with others have been weakened over time. The high frequency of wars between nations in the 'Old Continent' explains the relative superiority that Europe had over, say, Amerindians and Africans for the past few centuries, first in slavery and then colonization.

Espionage is rooted in modern life

After two atrocious global wars, countless medium-size conflicts and a dogmatic cold-war between capitalism and communism, political and military leaders seem to have finally gauged the idiocy of lethal conflicts with planetary implications. The notion of 'détente', that is, the easing of strained relations in the political phraseology, gives nations the imaginary assurance that they may all coexist pacifically and a major conflict is preventable once greater cooperation between societies subdues the inherent quest for power that causes hostilities.

Acquiescing that there exists a permanent détente within the current geopolitical landscape is an optical illusion because it goes counter the very human urge to monitor the neighbor in order to know him or dominate him, if not annihilate him. This can be very easily illustrated in instances where spies are caught in so-called 'friendly' territories. Take the example of Israel's Mossad agents being arrested in the United States.

The nuts and bolts of modern state espionage lie in a sophisticated and complex apparatus that all nations, and peculiarly global superpowers, have invented to carry out data-collecting and monitoring activities in peace time. Embassies, with their massive bureaucracies, specialized technocrats and their diplomatic inviolability, are preeminent on that list. They are essential in monitoring the host country's social dynamics and report to their respective governments. Simply put, an embassy is, de jure, a stranger turned neighbor.

Next are supranational organizations that populate the global political, social and economic sphere. Their local representations and periodically published studies may also serve an intelligence purpose. Finally, aid agencies and so-called 'humanitarian' organizations are critical in gauging so-called 'underdeveloped' nations' economic ability and progress in their development. It is no coincidence that major countries in the developed sphere do not customarily accept 'aid programs' from their counterparts unless excruciating circumstances dictate that such refusal would be politically unacceptable.

Strategic studies and the modern economic literature are replete with topics referring to Japan's, and to a lesser extent, Asian dragons' ability to use economic espionage at the end of the Second World War to gain a competitive edge over erstwhile powers such as the United States and Great Britain. The necessity to monitor and direct the continent's economic reconstruction, and the panic of a potential dominance by communist Russia, also led the United States to implement the Marshall Plan in Europe from 1948 through 1952.

Businesses thrive from spying more than the military

A noteworthy myth in today's world is that espionage is principally the province of military strategists and national armies. Evidence from authoritative business intelligence magazines, leading governmental studies and a massive body of knowledge from academia have clearly explained the causal relationship between firm profitability and espionage. Differently stated, governments tend to always transfer intelligence data to their domestic industries, whether they are at war or at peace.

As a result, the military-industrial complex benefits considerably from intelligence and such prerogatives are then disseminated into other firms in the economic fabric. As an illustration, it would be fairly understandable that a firm like Boeing, which derives a substantial portion of its revenues from government's contracts and sale of military aircrafts, is more attuned to certain developments in US intelligence gathering than a financial services giant like Citibank.

Nevertheless, businesses have also parlayed their gargantuan economic clout into a very successful data-collection enterprise. The plethora of tools available to business executives nowadays is strikingly sophisticated and effective. Even if it is not exhaustive, a good analysis of such tools must look at their source and their degree of macro-economic interconnectedness.

On one hand, external mechanisms allow at the macro-level business enterprises to gather information from competitors and control how such information can be utilized to thwart rivals, increase their own market primacy, or do both. When they share a community of interests vis-à-vis a new market or are in an oligopolistic situation, companies are routinely willing to join hands provided, of course, that the risk-payoff ratio of a single venture is not immensely superior to that of a joint venture. Tacit collusion, that is, the market situation where two firms agree to play a certain strategy without explicitly saying so, is a fine illustration of business intelligence sharing.

In practice, firms engage in economic espionage via economic sections of embassies, chambers of commerce, lobbying groups, industry groups, specific studies from consultants, and monies granted for academic research in particular fields of interest. Concomitantly, they guard against intelligence threats by massively supporting intellectual property laws.

On the other hand, a sophisticated internal approach allows companies to stay abreast of latest developments within their industry. First and foremost, they hire to their corporate boards or for senior positions, experienced former government officials and high-rank military leaders who had been privy to high-value strategic insights during their public tenure.

This is immensely beneficial to the hiring side because a former cabinet member, a congressman or a four-star general, can possess a breadth and depth of experience and knowledge of past, present and future topics that is considerably worth more than countless external consulting reports. Second, economic intelligence departments and government relations departments also fulfill data gathering roles through research, lobbying and interacting with industry groups.

Cyber-warfare, the new cold war

As the planet becomes technologically more intertwined, novel tools and modus operandi are being made available to governments and private interests to collect specific intelligence. These tools and procedures are an intricate combination of old and new procedures which simultaneously penetrate nations' military, economic and social constructs to extirpate valuable bits of knowledge.

Defense experts are calling these emerging asymmetric conflict tools 'cyber-warfare'. Due to the plethoric ramifications they present and the simultaneous dual tasks they may serve to fulfill (attack and defend) when engineered in certain ways, I label this group Modern Cyber-warfare Gear ("MOCYG").

MOCYG, as it stands, involves the offensive use of various techniques to derail a nation's infrastructure, perturb the military and financial systems of a country with the aim of crippling its defense responsiveness and the integrity of economic data, or accomplish other destructive aims based on the attacker's incentives and strategy. Security specialists and military researchers have classified these techniques into 5 major groups: computer forensics, viral internet tactics, assault on computer networks or software, hacking and espionage.

The idiosyncratic power of cyber-crime lies in its 'stateless' nature, its capacity to be inexpensively controlled and deployed, and the vast damage it can exert. Given the judicial vacuum created by cyber-warfare techniques, nations are rushing to build up legislative safeguards to prosecute offenders even though criminologists argue such undertakings are largely inefficient at the moment.

A memorable cyber-criminal event occurred in Estonia in 2007 when more than 1 million computers, allegedly from Russian-based servers, were used to simultaneously cripple state, business and media websites in a modus operandi analogous to the "shock and awe" military tactic. That attack ended up costing Tallinn's authorities tens of millions of US dollars.

China, a cyber-giant in progress

Upward socioeconomic trends in the People's Republic of China are well known to international masses and covered profusely in western news media. So are Chinese authorities' singular understanding of democracy and human rights as well their overt wish to play a bigger geopolitical role in world affairs. However, the quiet revolution China is experiencing lies within the astronomical investment country authorities are making in top notch universities so as to catapult China into the top league of technological giants, along with the United States and Japan. Given the size of such educational outlays, Chinese authorities must believe that a major competitive edge can be gained in the technology field and such advantage can be converted or transferred into other sectors of their mushrooming economy.

Top western sinologists and other think tanks are closely monitoring these academic developments because they understand the basic notion that future geopolitical dynamics will inextricably be tied to how successful Chinese will be at leveraging technology to boost their future 'global penetration'.

The smart tactic is that, while future chief engineers are being trained at world-class institutions such as University of Science and Technology at Hefei, Harbin Institute of Technology, Beijing University and Tsinghua University, China is concurrently putting a veil of secrecy around its information systems and cyber-infrastructure. The country may be notorious today for its copyright infringement cases or intellectual property violations, but it is inconspicuously gearing up for tomorrow's technological primacy that its expansionist aspirations may dictate.

China also investigates currently available ways and means to unearth state-of-the art synergy tools that can be leveraged between its major government departments and state agencies as it prepares to enter the 'knowledge economy'. Authorities view this coordination effort as an indispensable step forward because it adds another layer of centralization to a government structure that is built around the canon of 'consolidated power'.

More specifically, country leadership has summoned top minds in technology and auxiliary fields to synergistically engineer the future cyber-infrastructure that will solidly mark China's imprint in the digital landscape. This task is colossal, and the vastness of it effects precludes obviously an analytical granularity. Several hundreds of thousands of Chinese computer engineers, regrouped under ad hoc commissions, think tanks and strategy centers are the backbone of this emerging 'digital army'.

They work under the aegis of brilliant specialists whose unquestioned patriotism and in-depth expertise are unparalleled at such high seniority levels; this group includes Liang Guanglie, Wan Gang and Li Yizhong. The first is the current minister of defense, who works in conjunction with the People's Liberation Army and the Central Military Commission to manage the largest military force in the world (ca. 3 million) and oversee its strategic evolvement.

The second is the head of the Ministry of Science Technology and is mechanical engineer and auto expert. The third is the Minister of Industry and Information Technology, a cabinet position pivotal for the country's information systems development.

Anemic US IT investments

Equipped with this super cyber-security gear, China seems to be winning, or is in a significant position within, the ongoing global cyber-war. In a sense, the country is not an 'emerging' superpower as western analysts and social science specialists would like to call it. It is already a superpower in the fullest sense of the concept.

The term 'emerging superpower' is presently preferred in academic and business literature as well as in media parlance because it is more politically palatable to the elite and other classes of citizens in traditionally influential economies (G8) who fear the psychological and social implications of welcoming new colossi in the select club of the powerful.

Security experts and top military minds in the United States are truly concerned that the Chinese massive IT investment dwarfs America's and do not hesitate to point to the geopolitical implications of such a chasm. They note that the countless cyber-attacks from China and Russia are just a start of the new cyber 'Cold War' of the 21st century.

It is a fact that many foreign-engineered digital attacks have targeted many industrialized countries' military systems, power grids, and financial infrastructure in the past few years. Yet governments and military forces at present have limited capacity to detect or infiltrate the attacker, counter the attack, and prevent future assaults.

US defense officials and business leaders understand the looming threat but believe its intensity and gravity constitute a hyperbole. However, authoritative statistics from the Government Accountability Office, US Congress reports, and academic studies indicate evidently that the world leader has not shown hitherto the political willpower to tackle the digital gap in its cyber-security infrastructure.

Truth be told, politicians in Washington, Pentagon strategists, and the intelligence community at large have long known of and understood the nature of the menace. Notwithstanding, a series of geopolitical events forced them to transfer certain topics into budgetary oblivion at the credit of more pressing, more 'visible' national security threats that are effortlessly noticed by constituents (e.g.: terrorist attacks).

A few factors explain Washington's inability, or budgetary lethargy, in addressing the cyber-warfare threat. First is the geostrategic complacency derived from the fall of communist Soviet Union and the ensuing inertia that global unipolarism usually creates.

Second, America's military apparatus is currently 'distracted' by two ongoing wars and engaged in a host of relatively minor security missions around the world. Adding to those involvements, there is the corollary 'war on terror' that has mobilized since 2001 colossal resources to thwart further domestic attacks.

'Domestic' in this sense refers to an incredibly enormous geographical area because it encompasses US conventional soil and the related territories, American overseas diplomatic missions, its military bases, transnational organizations where the US holds significant strategic interests (e.g.: NATO headquarters and military stations), and the countless aid, religious, and humanitarian outposts around the world.

Third, the diversity and criticality of issues at hand force the US government and congressional leaders to prioritize their budgetary efforts. The current economic despondency bodes ill for any serious endeavor in tackling underinvestment issues in information technology because the country is pecuniarily limited and cannot afford to continuously print money (risk of inflation and currency devaluation) or borrow from... China.

US budding cyber-security grid is solid

Despite the socio-economic gloom, the Obama administration has shown in the past 6 months a strong level of commitment in assuring the integrity of the nation's information assets. He appointed late December Howard Schmidt, a renowned computer security specialist and former Microsoft security executive, as White House cyber-security czar. Other high-profile nominations have followed in the army ranks and other key departments and government agencies such as Homeland Security, Treasury, the FBI and the CIA.

The efforts appear to be coordinated and effectively reaching their desired goals, from the Pentagon's launching of a giant "cyber-command" unit to the CIA's and FBI's massive 'hiring spree' of computer engineers and cyber-security specialists. International cooperation with other allies is also part of the undertaking; US intelligence agencies are thus partnering with foreign counterparts such as Britain' MI5 and MI6, Israel's Mossad, Germany's Bundesnachrichtendienst (Federal Intelligence Service, BND) and Militärischer Abschirmdienst (Military Counterintelligence Agency, MAD) to address emerging threats.

Private interests are equally gearing up. Businesses are investing massively in IT infrastructure and upgrading computer networks, and working jointly with government agencies. They are also granting rising subsidies to think tanks and academia to help in this effort.

The combination of efforts has to be successful because an absence of effectiveness in cyber-warfare measures can be 'lethal' to US global supremacy. Judging by the great havoc cyber attacks had catapulted onto Estonia in 2007, hyperbola ought not to be barred in this topic.

Based on the latest estimations, US nominal GDP is nearly 3 times that of China ($14.5 trillion vs. $4.5 trillion), but the latter's healthier growth rate is helping bridge that gap gradually. Thus, many forecasters - and the proverbial 'conventional wisdom' - assume that it will take Beijing many decades to attain America's economic clout and level.

That said, in the hypothetical scenario that a cyber-warfare erupts between both countries, a stronger China may only need to considerably crush US economic productivity and therefore its GDP to claim victory and financially surpass its rival. Absent effective security systems, China, or any other foe, may only need to assault vital arteries of the US military-industrial complex: power grids, financial transaction systems, Federal Reserve System, US Armed Forces' computer systems and networks, Congress' and White House's IT infrastructures, etc. It's easy to imagine the massive damage electricity failure can do to a country's transportation, financial, and military systems.

Managing Generation Y in the Workplace

Is everything about to change for Generation Y?

How will they deal with a recession, the uncertainty of an economic downturn and the big changes in the employment market?

Why may Generation Y be affected by recession more that other generations? The answer is that Generation Y traits aren't entirely in tune with the inevitable aspects of recession and economic insecurity.

The Y generation has always felt secure. Ys only knew economic prosperity. Many Generation Ys have only experienced full employment and economic growth.

They saw parents in stressful jobs, working long hours. For some of those parents, their hard work didn't bring prosperity and happiness. Ys wanted different and better lives. If they were dissatisfied with their job, they resigned. "If I don't get that job, I will get another".

Baby Boomers and Generation X have little in common with Generation Y. Unlike Xs and Boomers, they haven't seen unemployment as much of a possibility - until recently.

Economic prosperity has fueled the values of Generation Y. Previous generations - the Boomers and Generation X have experienced or at least knew about not having money in their pockets and they took money much more seriously.

There's been no significant downturn in the economy over the past decade. That economic stability has been the basis for the development of the characteristics of Generation Y. Now Generation Y's security has been seriously shaken. Life has changed for everyone, people are being laid off in many parts of the world, a world recession is a real possibility and in addition, there's a world food shortage.

The current economic trend is set to continue for a while yet.

Generation Y hasn't faced that threat. Y graduates in the United States and Britain were complacent about job opportunities. For the first time in years, the threat is returning. It will have come as a shock for many self-assured members of Generation Y depending where they live.

Generation Y differs from country to country because generational attitudes are in part caused by age but also by circumstances. In China, Generation Y is made up of only-children - the result of the one-child per family policy. They grew up through difficult economic times and now are thriving in the massive growth of China.

India has seen huge development in IT based industries and has deliberately developed specialized expertise. Generation Y in China and India have very different values to their US and UK counterparts. There are many high-achieving Asian women studying math and science compared with western students.

There are highly talented individuals from China and India heading to the workplace - individuals, who are ambitious, focused on work and focused on academic success.

Generation Y in the west is facing huge new challenges. Some will be reeling, the sand shifting under their feet. Some of their basic operating principles are wobbling but they are an exceedingly talented generation and they have an opportunity to be very successful if they are able to make a few fundamental adjustments. Managing Generation Y through the recession will require understanding. Some Ys may wish they had been more loyal to previous employers.

The fundamental adjustments are 1) no longer wanting and no longer only responding to instant gratification 2) changing from being a diva at work and expecting everything to fall into their laps and 3) put work-life balance on hold for a while.

However, they deal well with change and they're dynamic.

They are:

- tech-savvy
- ambitious

They:

- think outside the box.
- believe that if you use your imagination, you can do anything.
- have changed jobs more often so they have wide experience

Many are exceptionally skilled at problem-solving because they are connected 24/7 by cell phones, PDA's and laptops.

If you're the manager of Y's, look after them, watch out for a wobble and support them through it. Theirs are the talents you have to work with and they will dominate the workplace for the next 10 years.

Their foundations may be unsteady for a while until they adjust their basic thinking but the upper structure is sound. Re-enforce the foundations and rub off the rough edges and you've got a great employee with great talents to carry companies forward.

The new economic situation may mean they have to think twice before looking for a new employer. Many won't be able to do that if they don't like the current job - they no longer have the economic freedom.

Generation Y has challenges but can meet them. Meeting those challenges may moderate the image they portray which was of opinionated, demanding and overconfident divas and produce a more well-rounded and less arrogant workforce.

The Triple Bottom Line and Talent Management

Leading authors are writing about it; conferences are featuring it; and many are calling on corporations to report on it. The triple bottom line-people, profits and planet-has unofficially become a leading indicator. Rather than being measured solely on profitability, companies, and their customers, are increasingly adopting "the three pillars" to define business success.

The term "triple bottom line" was first used in 1989 by sustainability consultant John Elkington to define business success, and has since become a common term, although not well understood. It measures performance in three ways: by social, economic and environmental factors. This means successful organizations must demonstrate good working conditions for employees, commercial success and environmental responsibility. Increasingly, companies that pay attention to the triple bottom line see a sustainable competitive advantage-and it begins with talent management.

Leading to greater profitability

As Pete r Drucker aptly put it, "Management is about doing things right - but leadership is about doing the right things." The triple bottom line is about doing the right things, beginning with how you treat your employees. Treating employees right means several things in triple-bottom-line parlance, including:

•Paying a fair "living wage," a minimum hourly wage that would afford a reasonable standard of living
•Providing healthcare, profit sharing, ongoing training and openly addressing employee needs as they arise, such as eldercare and childcare
•Awarding bonuses only after triple-bottom-line goals are met in all areas
•Linking manager's pay with sustainability and staff well-being as well as performance (as more companies are beginning to do)
•Creating a healthy work environment
•Giving back to the community at large

Increasingly, employees (and customers) want to be involved in something that makes a difference; and that means leaders must engage employees in something larger than company profits.

In a 2007 Center for Creative Leadership survey, researchers found that 73 percent of leaders surveyed reported that the triple bottom line is important to organizational success, and 87 percent agreed that it will be increasingly important in the future. Corporate leaders with a triple- bottom-line vision believe that three competencies are important in engaging their organizations in sustainable thinking: a long-term view, communication, and influence. Using these competencies to increase employee engagement, these leaders feel their organizations can benefit from increased revenue and market share, employee retention and community support.

You can't ignore the benefits

All of the benefits of effective talent management apply to an organization's triple-bottom-line commitment, probably times three. They include:

•It's easier to attract the best talent-It's generally acknowledged that the most important corporate resource now and in the future is talented employees; and many of the best candidates pay attention to corporate social and environmental responsibility as an important company attribute.
•It's easier to retain top talent-Today's environment is competitive, and keeping your most talented employees is a challenge; talented employees tend to stay with organizations longer when they have meaningful work. Retention is pure profit to the bottom line.
•Engagement increases productivity-There is a strong connection between meaningful work and productivity; employees engaged in the triple bottom line give back enthusiastically to their work at the company and in the community. As a bonus, the company image is enhanced.

In addition to the advantages associated with talent management, by adhering to the triple bottom line, your organization can: increase market share, lower expenses, decrease risk, enhance investor appeal, increase efficiency, improve product quality, and strengthen your competitive position.

It doesn't take much to see that if you want to succeed, adopting the triple bottom line is a given.

Skip the greenwashing

As with any corporate initiative, authenticity is critical. In the world of the triple bottom line, greenwashing, or publicizing sustainable practices when they're not really true, can be deadly in terms of employee morale and reputation in the market. Your organization will thrive with a strong commitment to the triple bottom line. And your employees will happily take on the mission.

US Growth Downgrade Weighs on World Markets

During the worst recession in the past seventy years many have witnessed lay-offs, unemployment rates topping out, stocks dropping to scary numbers, homes being foreclosed on, home sales rising, businesses foreclosed on and one of the most intimidating recessions since the Great Depression.

Now that it is ending, many are wondering if it will stay away or if we are all just resting to watch the recession come back with an even mightier bang. When the word recession pops up many people are worried about their futures and even when the recession has ended people are still searching for what will happen next. No one's job is secure and everyone's financial future is on the line.

Even though the recession has hit America, globally over everyone is hurting. Stock markets have taken a beating all across the globe which truly shows that in the time of a recession, no one is safe. During this quarter reports from the Commerce Department reported that the GDP was down to 2.8 percent which was much less than it's 3.5 percent in past quarter.

World stocks are dropping points like crazy and no one is safe from it from Britain to Australia. The FTSE 100 index of primary British shares dropped 31.54 points, while Germany's DAX fell 32.17 points, France's CAC-40 was down by 28.55 points and Wall Street's Dow Jones was down 55.33 points, while Standard & Poor's 500 index dropped 4.44 points, China's Shanghai index plunged 115.14 points, Hong Kong's Hang Seng index fell 348.25 and Japan's Nikkei 225 stock average crashed down 96.10 points. In South Korea's Kospi decreased by 0.8 percent and Australia's S&P/ASX 200 index weakened 0.7 percent. Stock Markets in Thailand Singapore also decreased.

The dollar weakened by 0.5 percent to 88.53 yen and the euro decreased also by 0.2 percent. This recession has left the world in shambles and everyone is trying to pick themselves up to move forward toward a brighter future but with nobody safe and things showing up as disastrous in the world markets there is just no telling what will come next.

When it comes to your future, you must take charge especially in today's time where even the most highly perched businesses need to borrow money to survive. You have to be your own boss and work under your own hand to get ahead in the world and that's just exactly what you should do.

There is way you can do that without it costing you your own arm and leg check into Paintless Dent Repair. Paintless Dent Repair is a career in the auto reconditioning field that removes dents and dings from the panels in a vehicle. You could take a two work course, buy your tools and be ready to make the money you should be making. With other reconditioning services you have to keep paying for supplies like paint but with Paintless Dent Repair you only have to buy the lifetime guaranteed tools once and you are set to go which means everything you make after that is pure profit!

Balika Vadhu - Child Marriage That Still Exists in the Indian Society

The practice of child marriage started 4000 years ago in India. Many things changed through the course of time like discrimination based on one's caste, women emancipation, economic and social growth of our country, etc., etc. But there are things that even 4000 years of time hasn't been able to eradicate. Sadly, child marriage is one of the social vices that till date exist in our country.
Recently a programme called 'Balika Vadhu' went on air on channel Colors, dealing with the above mentioned issue. During its promotional campaign and trailers I thought it would be yet another serial telling us what we already know. That child marriage is immoral, inappropriate and most importantly, it can be devastating for the lives of children. Nothing that we're not aware of!

But what I didn't expect was getting to know about the countless matters and intricacies that were attached to this one practice. Set in a small village of Rajasthan, the story revolves around the life of a child bride, Anandi, before and after getting married. She is married into a wealthy family where the tradition of bringing young brides from extremely poor families is followed.
Balika Vadhu was not aimed to eradicate the very practice by condemning and criticizing it, instead the intent was for the people to see the consequences of it. In Rajasthan, where child marriage still occurs, the audience gets to see the results in a very justified and clear manner. Be it a little girl being expected to get all worldly and mature at a pre-teen age , the way she copes up with pressures of living in a different house with people she doesn't even know.

Their huge expectations of managing the entire household-cooking, cleaning, taking care of everyone in the family and behaving according to them are supposed to be met. We see how women are still being treated as objects that have to abandon their lives, family and friends (without having any say) to fulfill the responsibilities they have been passed on. That being of a passive, tolerant and a perfect housewife. Anandi, although being excellent in studies and having a great interest in it, cannot go to school. Since, after married she has the sole responsibility of taking care of her household. Whereas Jagadish, her husband, is the apple of everyone's eyes, gets to play, go to school, do what so ever he wants to since he's a guy.

Through Phooli's character, a child widow and Anandi's best friend, we get to see the life of a widow. At an age of about 8 or 10, she cannot get dressed in colorful clothes, apply makeup, wear bangles and hair clips and ribbons which she absolutely adores. She has to follow a particular dress code of dull, plain clothes. She is made to follow a strict code of conduct set up by the society. She is abstained by all the worldly pleasures, cannot remarry or go to school and has to live with her parents till the time death rescues her. When she doesn't know what married life is all about, she is forced to lead the life of a widow.

The consequence of consummating a girl at an early age resulting in her death has been shown through the story of Basant's (Anandi's uncle) ex-wife. The dominance of the males and the rich has been clearly reflected by Basant's remarriage (even though he is a widower and about 50 years old) to a girl his daughter's age and a virgin by his demand. Being a male, and a powerful and a rich one, he gets to 'choose'.

Balika Vadhu does not put everything regarding child marriage simply in black and white. If on one hand there are elements of a rigid and unchanging society (in the form of Anandi's daadi-sa (mother-in-law) and Basant uncle), there are also characters like Anandi's father and mother in-law, who understand the problems created by child marriage. They want things to change but are not courageous enough to go against the society. The very interesting and strong woman who dares to go against the norms and do what's best for her is played by Gahna, Basant's wife. After coming to know about the incident of early consummation of her husband's ex-wife, she adamantly refuses to sleep with him even after he and her mother-in-law threatens to throw her out of the hose and kill her. The life of the poor families having daughters has been referred to as a crime in the society.

The parents of these girls want their daughters to get married in a wealthy family so that they can lead a comfortable life. They succumb to any kind of pressure or demand laid down before them by the rich. However the affluent families do not refrain themselves from repeatedly telling them about the noble deed they have done by marrying their sons to the poor and the needy. They have endowed the girls with all the luxuries of the world, hence, their 'kindness and gratitude' must never be forgiven. Isn't it a shame that instead of making life good for their own daughters they sell them off without considering the aftereffects on the social, psychological and physical state of the girl.

Last but certainly not the least, the characters of Anandi, Jagadish, Phooli bring to life the changes and the responsibilities that children are gifted with their marriage. The way they have been shown to adapt themselves and adjust in the society is touching. These innocent, tender souls without any knowledge about the way things work in a patriarchal, oppressive and unchanging society are made to grow up at an incredibly young age.

Balika Vadhu makes you think and gives you plenty and plenty of reasons to bring about a much needed change in the Indian society.

Philosophy of a Governing Economy

In contrast to the US economic policies China uses much more decisively economic tools when a situation arises. In many cases when either Global economic crises was on its ways as it happen in 2008-2009 or now when Chinese economy shows overheating the Chinese government does not hesitate to act and to act promptly and decisively. When Real Estate bust in the US provoked rambling effect over the entire Global Marketplace in China a curbing on speculation and targeted low housing prevented similar to what happen to US and EU effect in there.

When in 2009 stimulus packages were needed to add monetary supplies and keep the economy from falling as a result of decreasing export elsewhere and particularly in the US as a main trade Chinese partner, a "flexible" usage of raising Chinese internal demand and expanding trade relations elsewhere and particularly with South Asian markets kept Chinese economy in relatively strong growth of over 9%. In the First Quarter China the world's fastest-growing major economy expanded 11.9 percent in compare to the last year and now Chinese government takes prompt action again:

China's Rules to Curb Property 'Madness' Will Take Effect Now

"The market is having its "last madness" and speculation may dissipate in a year or 18 months on extra action by local authorities and an increased supply of low-price, so-called policy homes, Li said.

Cheung Kong (Holdings) Ltd., the Hong Kong developer controlled by billionaire Li Ka-shing, said yesterday that efforts to cool the Chinese property market are "timely."

"You want to take action before the market gets too hot," Justin Chiu, executive director of Cheung Kong, said in a Bloomberg Television interview. "Prices have gone up really quite a lot; people buying for their own use should do it within their means. If they invest, they need to be cautious about interest rates."

Chinese government is not persuaded by lobbyists of falling stocks prices "The Shanghai Composite Index fell 1.1 percent yesterday" to moderate or change their policies, they are acting indiscriminately using the available "tools" of economics for prevention or stimulus when needed.

In comparison to China, here in US a partially pro political and ideologically motivated system of the ways of economics is used by the government for prevention of economic crisis or stimulating the economy when needed.

President Obama spent years to promote the Health Reform in fierce fight over details sometime quite irrelevant when the Health Reform is a purely economic "tool" for expanding economic activities and overall for so much needed wealth distribution and redistribution in US. This constant talk of US deficit and constantly rising National Debt also handicaps the Government to take decisive prompt action when situation arise.

The economic "tools" are more considered ideological prerogatives for political gains and Economics is more considered as a believe in something could be the Right "trickle-down" Capitalism could be the Left more business involved Government, when Economics is a Science by which any "tools" of economics should be used indiscriminately under different arousing economic conditions, any economic tool should be on the table: curbing speculations, financial regulation, enhancing personal liability of risk management of corporate structures, social policies, infrastructural expenses, healthcare expanses, SME tax breaks and low interest financing, subsidies and etc.

In time in ever globalizing marketplace and rising productivity, industrial production of the production based economics is not going to maintain conditions for many countries all over the world to keep up with their Fiscal expanses. When countries like China are building industrial production to new heights in combination with Japan, Germany and US, these may well build capacities filling the Global supply for such industrial production. Here in context the exhausting Earth resources, the Global pollution and deteriorating Environment should be taken in account, too: showing limitations to a constant Global Industrial Growth for all countries so these countries could keep their Fiscal expenses under control.

Industrial production adds the most to any country's GDP at the moment, therefore under the current production based economics for a country to not be industrialized means either this country is very much underdeveloped like Bulgaria or it runs high deficit like Greece and Portugal. For US the effect of decreasing industrial production has a very similar effect to the Bulgaria and Greece: when in some areas like Detroit poverty roars just like it does in Bulgaria in some other areas like Chicago high deficit is becoming imminent. Thus the policies President Obama is implementing of "artificially" boosting Healthcare, SME and tax breaks to the low income are the only economic policies possible under the circumstances, though there should be some better ways for sustained economic growth in which private enterprenuarship is not curbed and freedom of business is not overtaken by governments, because what all learn from the last Great Recession was that Governments could take over businesses, financial institution in a very quickly, and as a conclusion when future recessions hit Governments will go even farther.

China's handling of the last Recession is a good example of how such crisis should be handled but when a well balanced economics is combined with personal freedom of the US the results could be much higher, but to preserve this freedom we should adjust currently used economics to the arousing developments of the New Century.

©Joshua Konov, 2010

Tourism Training - Key to Economic Growth

The assumed connection between economic prosperity and education has spurned a worldwide growth of tertiary education. Tertiary institutes are under increasing pressure to deliver programs that not only meet the core requirements, but their curricula must be continually updated to keep pace with industry trends and technological advances. Additionally, the need for students to make willful and gainful contributions to business performance and increased productivity, alliances are being made with the various industry segments to ensure that the curriculum also correlates with 'real world worth' when entering the employment market.

Over the past 10 years, there has been an increased emphasis on tourism training and education. This can be seen by the increasing number of institutes offering tourism and hospitality courses, especially in countries, such as New Zealand, that heavily rely on tourism for economic growth and employment, and has become a major socio-economic phenomenon.

The worldwide growth of tourism, being the largest global income earner, has resulted in unprecedented demand for suitably qualified tourism and hospitality staff, at all levels of the industry. The interdisciplinary nature of tourism is becoming increasingly important to employers and education institutes alike. Fallows and Stevens (2000) completed a research programme in an effort to ascertain what employees are seeking from recent tourism graduates. The response was overwhelming, indicating that not only do they require the core academic skills and knowledge, but individuals who have the capacity to work autonomously, be proactive and be creative in their workplace solutions. As a result, education institutes must not only provide the essential interdisciplinary courses related to tourism, but encourage free and innovative thinking in their students, and imprint a sense of confidence in their abilities.

Several developments, including increasing competition, changing labor market dynamics, changing demand patterns and technological advances require new employability skills from graduates to enable them to cope with these changing circumstances. Today, employers are looking for educated workers who are flexible and adaptable as business owners themselves seek to be more proactive and adaptable in their markets which are characterized by constant change.

The tourism industry is an exciting industry, which not only offers a great lifestyle, but which is now offering the educated employee a dearth of opportunity for growth and career development. Ensure that you register with a reputable education institute which has a specialized tourism department, equipped to pass on the multi-disciplinary knowledge required to satisfy the needs of employers and succeed within the industry.

Export Import China Business - The Growth of Export Import in China

Thanks to the liberalization policy, the export import China business is now highly progressive and contributes greatly to the economic growth of the country in the last few years. China was included in the World Trade Organization back in 2001 which opened doors for global trading. The figures can speak well for itself. In the past 30 years, the average gross domestic product (GDP) was at 8%, a very significant growth rate. Overall, China now stands as the largest economy after USA. Experts predict that China could very well overtake USA after a few more years.

The significant economic growth in China is recognized worldwide. This proved to be very beneficial for China export business whose global market share to date reaches 58 to 60 percent. That is more than half of the market pie. The rest is distributed to other export players in Asia, Europe and America. As for China import, the country ranks third overall in the world after USA and Germany.

It is not always a smooth road for the export import China business. In 2008, the International Monetary Fund analyzed China's economy and computed a marked decline in GDP in the last five years (2003 to 2008). Approximately, they recorded a 12.7% decline rate in 2007 and 9.6% decline rate in 2008.

More particularly, the import industry recorded at least US$ 40 billion in gross revenue for December 2008, while the export figure is US$ 111 billion also on December 2008. This is at least 3% lower than the figures recorded on December 2007.

The World Trade Organization was a big help in the export import China business. It bridged China to many international traders especially in Southeast Asia. Hong Kong played a major role too. After the British turned over Hong Kong to China in 1997, Hong Kong became the major shipping port for mainland China and facilitated trading with other countries. Both the World Trade Organization and Hong Kong contributed largely to the China export business.

China mostly exports their main industrial products. The Chinese are excellent in the production of garments, textiles, electronics, automobiles, ammunitions and firearms. They also export products like mercury, magnesium, manganese, tungsten, tin, antimony, salt and barite. They rank fourth place around the globe in producing zinc, antimony, tungsten and tin. They are ranked second for salt production, and sixth place in gold production. They are also a leading player in aluminum production.

China is steadily surging forward and making economic reforms to further inscribe their name in international trade. You can expect export import China business to still move ahead and beyond other major players after a few more years.

Pink Hitler - 2012 and the End of Days

Giant posters of Adolf Hitler dressed in a bright pink outfit are upsetting people in Palermo, Italy. The posters are the work of an advertising agency and are intended to promote a line of clothing.

Some people are disturbed that anyone would use the image of one of history's greatest mass murderers to adorn bus stops and other public spaces. But those of us who have studied the 2012 End of Days prophecies are provoked to wonder if something deeper than an effort to sell clothes is going on here.

In the posters, not only is Hitler garbed in pink, his armband sports a pink heart instead of a swastika.

Among the recurring warnings of what is to come in the year 2012 is a prophesied world government that will present itself as a benign, even loving, force for good. It will turn out to the most nightmarish dictatorship in history, though.

It is easy to speculate that portraying Hitler as pink heart sort of guy could be a way to prepare people, especially the young folks who are the target of the ad campaign, for a strong man who with the persona of a sensitive, New Age sort of leader.

The ad agency says the posters are meant to be tongue in cheek. The wording on the posters reads, "Don't follow your leaders," a way to encourage young people not to follow the crowd when it comes to choosing fashion.

Still, in the context of worsening economic and political conditions in Europe and elsewhere, one has to wonder what plastering giant images of a "softened" dictator might do to people's readiness to accept a future Fuhrer. A pink Hitler could be another portent that of the 2012 End of Days.

By the way, the ad agency is planning to up the ante in the ad campaign. Next up, they say: Posters portraying Mao Tse Tung.

Anti-Incumbency and American Revolt - Rand Paul Wins, Arlan Specter Loses

This is a turning point in American politics. Americans are angry. They are tired of the games in Washington, the bailouts that have helped the wealthy at the expense of the taxpayer. They are furious over the condescension of the ruling elite. And they have begun to make their voices heard.

The rumblings began with the election of Scott Brown winning a senate seat held by the liberal lion, Ted Kennedy. What followed was a growing wave of anti-incumbency votes and a rejection of Washington politics as usual.

In Utah, senator Bob Bennett, incumbent and hard right GOP voter, lost his seat to Tea Party as he trailed a distant third in the primary.

In a big upset, Democratic Representative (who was once GOP representative) Arlan Specter lost his seat during the primaries to Joe Sestak. This, despite the fact that the Obama Administration rallied heavily behind Specter, and President Obama even went so far as to say he "loves" Specter.

Well, Mr. President, America does not love Specter. And they do not love their politicians. And the other big headline grabber: Rand Paul, son of famed Libertarian and Texas representative Ron Paul, won the GOP primary in Kentucky for the US Senate seat. Paul's victory is a major won, and a seat for the Tea Party in the Senate could mean big changes in store for Washington.

There are many bloggers on the left who are claiming that the recent victories by the Tea Party candidates is not a sign that the Tea Party has power, but that voters are angry over the economic situation. These assessments, however, are off the mark. The Tea Party is now a political force in America, and the questions as to its lasting power, its potency, are beside the point. Long time senators lost their seats.

And voters are not just angry at the economy. Again, this is a distortion by the mainstream media to make our current political situation look less volatile and corrosive.

Americans on the right are inflamed at the profligate spending of Washington. The Bush bailouts began in 2008 for the high end banks. These bailouts continued under the Obama administration in the form of GM, banks, Fannie Mae and Freddie Mac, and other institutions. The debt the Obama team has piled onto the American tax payer is at record proportions. And the results are lackluster at best. An economy that has grown few jobs, states going broke, social services unable to service even the most dire in need.

Americans on the left are outraged by the continuation of the wars in Afghanistan and Iraq, despite the fact that they voted in a candidate who promised change. Left leaning voters see little to be gained by the war in Afghanistan, where American casulaties have now topped 1,000 and the spending now outdoes the Iraq war. The money being poured into the military industrial complex for the sake of what seems to be a dead end, while millions of Americans face foreclosure, is enough to leave the left with a bad taste in their mouth.

Americans on the right are furious at the extensive reach of big government. The health care bill failed to address the real concerns most conservatives had, and that was a failure on the part of Big Government to accomplish much of anything over the past several decades. They see taxes as burdensome to their individual growth, and the tax money they feed to Washington is being used for pet projects and dates for the President.

Americans on the left are inflamed that their congresspeople did not do more to push for a medicare buy-in or a public option. Again, the left sees a president who has failed to live up to the lofty expectations he set for himself. The watered down health care bill has been a boon to the health care industry, even if these companies would have rather had no bill. The long battle over a few changes have soured liberals to the point of disgust. They can no longer trust their representatives to vote in their interests.

But Americans as a whole feel righteous indignation at the elite. This is not just an economic outrage, where Americans feel they have been cheated. No. They know that their fundamental rights - to vote, to free expression, to free business - are being robbed. Big Government, in collusion with Big Business, has taken the American public along for a joy ride that ends with a mangled car and a broken constitution.

Do not dismiss the rage as economically driven. See it for what it is: a people who want their country back.

Top Countries Receiving Remittance Money

Remittances are transfers of money by foreign workers to their home countries. Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid.

Remittances contribute to economic growth and to the financial and social inclusion of needy people worldwide. Recent studies have shown that remittances not only play an important part in many people's daily lives but are particularly important for people during financial crises.

In Latin America and the Caribbean, remittances play an important role in the economy of the region, totalling over $66.5 billion in 2007, with about 75% originating in the United States. This total represents more than the sum of foreign direct investment (FDI) and official development aid (ODA) combined. In 7 Latin American and Caribbean countries remittances account for more than 10% of GDP and exceed the dollar flows of the largest export product in almost every country in the region.

A majority of the remittances from the US have been directed to Asian countries such as India, the Philippines and China. Most of the remittances happen by conventional channel of agents, however online money transfer has gained substantial momentum over the years.

One-third of the money sent originates in the United States, most of the rest is sent from Europe and the Middle East. A significant volume of remittance money circulates within the developing world as well.

Latin America and the Caribbean is the region receiving the highest level of remittances per capita and the money flowing to the region has risen tenfold in real terms over the past 20 years. After climbing at double-digit rates in the last decade, the flow now appears to be levelling off.

Most of the money received in this region is used for everyday living expenses, from food and home repairs to school tuition. What interests economists most, though, is the potential for remittances to contribute to economic development. Remittances tend to increase bank deposits, reflecting potential for investment.

Research has also found that higher remittance flows are associated with lower poverty, better health and higher levels of education in the developing world.

Yet the increasing remittance flows have a downside-families and national economies that rely on the money sent from nationals working abroad become vulnerable to distant events and trends. Also, many countries dependent on remittance see their working-age adult population shrink. Family members left behind may stop working and wait month-to-month for money from overseas.

However, today remittance checks are helping millions of households across the globe to keep food on the table and a roof overhead. Although the evidence hardly hails them as a long-term solution to global poverty, as long as remittance flows continue, they should be both facilitated and regulated.

Understanding Chinese Tier Cities For Business

Years of economic reform ranged from the political relaxation of foreign direct investments to the promotion of entrepreneurship, China has emerged as one of the world's top economies. As such, Beijing Olympics 2008 serves as a new chapter milestone that signifies the beginning of China's third wave of economic growth - Industrial consolidation.

As such, it is a good time to examine how the Chinese cities have developed according to the traditional tiered city system. If you highlight all the first and second tiered cities in China, you will understand how the Chinese government plans to develop China into the world's largest economy.

In the 1980s, instead of opening up the whole of China, China, as part of an economic risk reduction strategy decided to develop special economic zones and open up cities near the coast for foreign investments. Coastal cities aid imports and exports. In addition, agglomerating the "test" cities can develop economies of scale relating to transportation infrastructure. Furthermore, resources from western China were drawn and consolidated to support these strategically positioned coastal cities prominently for Beijing in the north, Shanghai in the midst, and Guangzhou in the south, with Shenzhen acting as a gateway from Hong Kong.

As a result of shorter and improved transportation and communication infrastructure, economic development proliferates to the nearby cities, gradually moving westwards into China. Concurrently, the Chinese government also developed pockets of economic drivers especially in different provincial capitals in order to timely introduce economic growth at different regions. As such, cities begin their economic reform at different stages and thus with time, this became known as the Chinese tiered city system with cities given the connotation as first, second, third or fourth tier cities.

The Chinese tiered city system is characterized by the city's population size with Shanghai topping the China's city population chart at 20 million, followed by Beijing and Guangzhou with 17 million and 12 million respectively. These large cities, fuelled by own domestic demand and consumption provided the platform for improved living standards, better business and job opportunities and an international showcase to the rest of the world. However, these cities now faced a population ceiling challenge with stiff business competition which may reduce high exponential growth that was seen in the past.

The third wave will see more of the second tier cities in action. With over 20 cities in this category, China is set to develop these cities as the backbone of China's future economy. It is important to note that China will not remain as a low cost sweat shop and is definitely set to move up the value chain, focusing its efforts on high end industries and at the same time eliminating or pushing low-medium end industries into its lower tiered cities particularly with the third and fourth tier cities.

Already armed with a relatively medium to high disposable incomes and an average GDP per capita of RMB30000, these second tiered cities provide a lucrative option for firms to apply blue ocean strategy on Chinese domestic markets. Due to the Chinese emphasis on "Mian Zi" or "face" plus the lack of variety for luxury and branded goods in their cities, the rich and affluent from lower tiered cities often make short trips to Beijing and Shanghai for their luxury shopping. Therefore, having your presence in the second tier cities can provide greater proximity and convenience for these target groups.

China in the past 20 years is akin to a baby dragon playing around its nest, testing and trying out new ways of doing things, showing the world her head and wings. Now it is ready to emerge more of her to the world - the backbone akin the second tiered cities.

America's Edge in the Politics of Global Investing

Unlike most investment advisors and strategists, I pay a lot of attention to politics, both here in America and in overseas markets. The politics of a country tells me a lot about the probability of long-term economic growth and stability - vital ingredients for successful investing. It also reveals a country's culture, business climate and durability in the wake of shocks like the real estate downturn. Countries with free and open political systems can take sledgehammer blows and come back fighting.

And while we do not know whether the Dow will be up or down tomorrow, we do know that, just past midnight, the citizens of Dixville Notch, will, as usual, be the first American citizens to vote in the New Hampshire presidential primary.

The current presidential campaign really has my blood pumping. The race between Senator Clinton and Senator Obama has been turned upside down with John Edwards jockeying for an opening. The Republican race is even more fluid and open with the sudden rise of former Governor Huckabee posing a threat to former Governor Romney, former New York Mayor Rudy Giuliani losing steam in national polls and re-directing his efforts to big states like California and Florida. All this movement has creating an opening for the old lion, Senator John McCain, whose campaign was left for dead only a few months ago and is staging a comeback in New Hampshire.

For a political junkie like me, it doesn't get any better than this.

The Chinese leaders love to describe American democracy as a "moneybags democracy" but the current race highlights that issues, personality, and strategy can oftentimes trump money. Mr. Huckabee won in Iowa despite being outspent 20 to 1, the upstart Mr. Obama has matched the Clinton money machine dollar for dollar by gathering small donations and Mr. McCain is back in action despite his bus budget.

Just as important, even candidates far back in the polls can raise money with a platform of conviction. Libertarian Texas Congressman Ron Paul recently broke the one day fundraising record, raking in more than $5 million through an internet campaign.

Then there is the relatively civil conduct of our campaigns and the fair, smooth transfer of executive power. Sure politics everywhere is a contact sport but we look pretty good compared to the fisticuffs last month in South Korea, the chaotic situation in Pakistan, and the ham-handed turnover of power in Russia from Mr. Putin to well - Mr. Putin.

Pakistan is the clearest example of political turmoil and one wonders how events unfolding there might impact its neighbor India's booming stock market represented by ETFs such as (IFN). Next door neighbor India is closely monitoring events in Pakistan for any security challenges that may come about. Keep in mind that there are more Muslims living in India than in Pakistan and that both countries possess nuclear weapons. Since the creation of Pakistan in 1947, the two countries have fought three major wars. The first two stemmed from the conflict over Jammu & Kashmir, the northernmost state of India, which also shares a border with Pakistan. The accession of Jammu & Kashmir to India in 1947 has long been disputed by Pakistan.

2008 also brings some important elections which will no doubt affect markets. In Thailand, the People's Power party, allies of deposed Prime Minister Thaksin Shinawatra, emerged as the largest party after Christmas Eve elections, but fell just short of a majority so the forming of any government in 2008 remains unclear. It is tough to have confidence in the Thai market (TF) without some confidence that a government is in place, even though it is attractive from a valuation perspective.

Japan's premier, Mr. Fukuda, not even three months into the job, is suffering from the same lack of confidence and popularity that sank his predecessor, Mr. Abe. This helped make Japan Asia's worst performing index (EWJ) last year. Is it an accident that Japan's bull market coincided with former Prime Minister Koizumi's strong economic and foreign affairs agenda?

Presidential elections are due to take place in Taiwan this March and will have significant implications for relations with China. It could very well open up more economic channels between the two countries and serve as a catalyst for Taiwan's recently lackluster ETF (EWT). South Korea faces parliamentary elections in April, the results of which will be crucial to shoring up support for pro-market reforms planned by President-elect Lee Myung-bak.

This highlights one of the most difficult aspects of a working democracy - the concept of a loyal opposition. Many cultures have great difficulty grasping and practicing that you can oppose government policies and seek to change them while still being patriotic and loyal to your country. The expression "where opinions clash, freedom rings" is alien and unwelcome in many countries around the world.

Our two-party system, while roundly criticized by many, is also very important. Coalition governments tend to be a bit unwieldy and unstable. Just note the situation in India where some relatively small Communist party factions in the ruling coalition block significant market economic reforms.

And great bull markets usually begin to build momentum together with significant economic market reforms. America's economic growth even today can be traced back to President Reagan's supply side tax cuts, the centerpiece of his 1980 platform. Ireland's economy was a mess with middle-income earners taxed over 60% of their wages and government borrowing out of control.

Then Charlie Haughey became prime minister. Taxes and spending were cut sharply and multinationals like Apple, Microsoft and Dell were lured across the Atlantic through a range of incentives including low corporate tax rates. The Irish market was off and running, but alas, the impact of these dramatic reforms has faded with time and with it prospects for Ireland funds such as the New Ireland Fund (IRL).

Similarly, the reforms enacted by former Australian Prime Minister Bob Hawke during the 1980's set the stage for a remarkable run of prosperity, and reinforced by John Howard, helped make the Australian market (EWA) the darling of global investors. The same was true of Prime Minister Margaret Thatcher's election and the subsequent revival of the British economy.

The reason all of these programs were successfully executed and lasting is because they first garnered support through the political process. It may take a bit longer than many would like, but reforms vetted through the democratic process are lasting and gain legitimacy. In the end, voters demand and reward change.

One interesting and important global political trend is that support for globalization is now stronger in emerging market countries than here in America. This is a sharp reversal from just a decade ago when emerging market politicians used foreign multinational companies as scapegoats.

A recent poll by the Wall Street Journal and NBC found that 58 per cent of Americans think that globalization has been bad for the US and that only 28 per cent believe that it has been good. Ten years ago the split was more even: 48 per cent thought that globalization was good and 42 per cent that it was bad. The biggest surprise is that supporters of the two parties are no longer far apart on the question. Globalization has been bad for the US according to 55 per cent of Republicans and 63 per cent of Democrats. This sentiment can only be turned around through open and honest political debate about economic policies that will enable American companies to generate more jobs and profits by gaining market share in fast-growing emerging markets.

Politics in democracies like America also mirror its entrepreneurial business culture. In most cases, candidates for public office today are self selected, not chosen by the party machine. Candidates for public office in America are just like our 25 million small business owners that struck out on their own with little more than a hope and a prayer and somehow managed to endure and prosper.

But I don't mean to imply that politics is just important because of its impact on business. Rather it goes to a country's core values and to the heart of its quality of life. What good is all the money in the world if citizens do not have freedom of expression, freedom of religion, due process and the right to choose ones leaders? No thanks.

Then there is the ultimate test. Whether people around the world want to come and live in your country. No matter what you think about securing our border with Mexico, it is important to remember that people want to get into America while in some countries walls have kept people in who want to get out.

So even in the face of a temporary economic slowdown, banking problems, global competition and turbulent markets, keep in mind that American politics is a major competitive strength. Without a free, open and robust political process, all the economic growth will only get you so far until you hit a giant speed bump and derail.

So don't forget to take into consideration politics when building your global portfolio.

BRIC Countries - An Overview

The term BRIC is a short form of Brazil, Russia, India & China. There is so much being discussed about BRIC countries that I thought we should take an overview of what BRIC countries signify in the world of Investments.

World economies have seen many bumps & turbulence over a recent past. That is the main reason why BRIC countries have gained importance in the eyes of world wide investors. Reducing rates of internal economical growth, reduction in domestic demand, falling markets have created major threats to the survival of Global Investors & they are searching for new avenues for investing their funds to ensure a good return on capital & also the safety for their capital.

Definition of BRIC:

Jim O'Neill from Goldman Sachs head of Global Economic Research came up with this short form BRIC for Brazil, Russia, India & China. He first defined the BRIC Countries in his report on Emerging Markets in year 2001.

What makes BRIC different from other Economies:

As per Jim O'Neill BRIC Report the combined economical wealth of these four nations would be more than the wealth of the richest nations by year 2050. As of today these four countries taken together would account for around 40 % of World Population & around 25 % of Global Land. This optimistic scenario would offer better growth as well as safety for investors.

* Brazil is 5th most populated Country of the world & the 9th highest GDP in the world.

* Russia is at 7th rank in most highest GDP.

* India is the 2nd most populated country of the world & the 4th highest GDP rank.

* China is the most populated country of the world & the 2nd highest GDP. The 1st rank being United States.

As per the Goldman Sach report these four countries would be having sustained growth over next 40 years that would surpass the European Countries in terms of economic growth.

We have seen many ups & downs in the Global economies due to credit crisis & various bubbles created through improper trading practices. Emerging markets are becoming heaven for global investors due to their realistic & somehow conservative growth policies.

BRIC Countries offer high level of economic growth with sustainable rate of economic activity that is estimated to last for some decades to come. Given the turbulent global market scenario investor are getting attracted to BRIC nations due to high rate of return on investment plus a Capital appreciation anticipated.

As a Global Investor one can not ignore the growth potential of these countries & any investment in these countries would guarantee an improvement Portfolio performance. This has diverted the attention of most of the global Investors from western countries to BRIC nations. This global attention would again help these countries to harness their resources in most optimum way & would make these markets more competitive ensuring more transparency in market operations.

The chain effect of this would last for at least 3 to 4 decades to come & these countries would become a focal point for global investors to invest.

In summary I can say that as a Global investor you can not ignore the importance of BRIC countries & you can further compare these countries among themselves to find out which is the best one to invest in to optimize your investment portfolio.

Is the Dollar Doomed to Keep Falling?

Since 2001 the dollar has been in steady decline. Against the £ the dollar has fallen from a low of £1 = $1.45 to close to the £1 = $2 mark. Against the Euro the $ has also depreciated from 0.85 to the present level of 1 Euro to $1.35.

From several perspectives the fall in the value of the dollar appears to be following basic economic fundamentals and whilst these imbalance continue the dollar may continue to fall.

Firstly the US current account deficit is remaining at record levels. The exact amount of debt with the rest of the world is predicted to be around $710 billion for 2006 [1]
Basically this means America is importing more than it is exporting, causing an outflow of money. In recent years this huge level of debt has been bought by countries like Asia who have been happy to buy into the dollar for its perceived status as a "stable and secure" currency. However there is increasing evidence Asian bankers are no longer so confident in the American economy. Thus they are seeking to divest from the dollar and reduce their dollar holdings. As this occurs the dollar will have to fall as there is insufficient buyers of American debt.[2]

Secondly the future for economic growth is no longer looking so positive. Growth forecasts have recently been downgraded. The OECD has downgraded is growth forecasts for the US economy from 3.6% to 2.4%. Pessimists such as Nouriel Roubini, of Roubini Global Economics [2] are predicting a recession in the US by the middle of 2007. An important factor in declining growth forecasts is the falling US consumer confidence.

Related to this is a signal that the previous ebullient housing market may have at last turned the corner. Whilst new house prices continue to rise. The median price of old houses have fallen by 3.5% since last year. Whilst a fall of 3.5% may not sound that much, it is the biggest on record. Also rising house prices have been a key factor in maintaining consumer spending in recent years. The level of personal debt amongst US consumers is at another all time high. The ratio of consumer debt to disposable income has risen from 62% in 1980 to 127% in 2005 [3]

Thus a fall in house prices will have a powerful knock on effect on the rest of the US economy as consumers struggle to refinance and meet levels of debt. Another consequence of this high level of consumer debt is that the US economy will be particularly sensitive to any rise in interest rates. Higher interest rates would be one solution to a falling currency and may be necessary to attract investors to finance America's trade deficit. Although the prospect of the Fed raising interest rates is remote at the moment. Continued falls in American dollars would cause a rise in the long term interest rates on American secutities.

However some economists argue that prospects for the dollar may not be as bad as some predict. Firstly as Anatole Kaletsky argues [4] in an era of globalisation and deregulated financial markets, trade deficits are not as difficult to finance as they used to be. Empirical evidence suggests that trade deficits are very unreliable as a guide to exchange rate movements. Firstly one of the few countries with a current account surplus is Japan. Their current account surplus has been growing and yet the Yen is one of the few currencies to have fallen against the dollar. [4]

Secondly although American growth is slowing at the moment it is not doing much worse than the EU and Japan economies. The gap in interest rates between the 2 economic areas is still only about 2%. If there are good reasons for the dollars weakness there are less good reasons for the strength of the EURO. Also some American economists such as Ben Bernanke of the Federal reserve remain optimistic about the state of the US economy arguing growth is only marginally below trend rate.

However it is important not to underestimate the importance of general market sentiment regarding the American economy. Political problems such as in Iraq have to an extent undermined America's standing as a leader of the World in both an economic and political sense. For 50 years America has been the undisputed global economic superpower, but slowly perceptions are changing that the era of the dollar may becoming to an end. As people switch out of dollars it could create a powerful multiplier effect as investment bankers are reluctant to hold onto their dollar assets.

America to a large extent can't avoid a period of adjustment as it seeks to deal with its triple deficits, trade deficits with the rest of the world, consumer debt, and US government debt. Whether the period of adjustment is gradual or painful will depend upon 2 things. Firstly how significant will be the fall in US house prices and consequent fall in consumer confidence. Secondly it will depend on the attitude of Asian bankers, in particular the Chinese. Since they hold so many $ assets they may try to manage a gradual devaluation, a continuation of the past 5 years. However if the dollar does lose its status as the reserve currency of the world, there could be a growing stampede as America's creditors seek to cash in their cheques. This would exacerbate the fall of the dollar, causing real economic hardship for America and the rest of the world.

The only thing for sure is that European consumers are likely to be get some real bargains from shopping in America for the considerable future.

References

[1] http://www.cbsnews.com/stories/2006/01/12/business/main1203762.shtml

[2] http://www.economist.com/finance/displaystory.cfm?story_id=8361260

[3] Available at http://www.federalreserve.gov/releases/Z1/Current/

[4] http://www.timesonline.co.uk/article/0,,630-2485597.html - Demise of Dollar greatly exaggerated