The beginning of the Asian financial crisis can be traced back to 2 July 1997. That was the day the Thai Government announced a managed float of the Baht and called on the International Monetary Fund (IMF) for 'technical assistance'. That day the Baht fell around 20 per cent against the $US. This became the trigger for the Asian currency crisis. Within the week the Philippines and Malaysian Governments were heavily intervening to defend their currencies. While Indonesia intervened and also allowed the currency to move in a widened trading range a sort of a float but with a floor below which the monetary authority acts to defend the currency against further falls. By the end of the month there was a 'currency meltdown' during which the Malaysian Prime Minister Mahathir attacked 'rogue speculators' and named the notorious speculator and hedge fund manager, George Soros, as being personally responsible for the fall in value of the ringgit. Soon other East Asian economies became involved, Taiwan, Hong Kong, Singapore and others to varying degrees. Stock and property markets were also feeling the pressure though the declines in stock prices tended to show a less volatile but nevertheless downward trend over most of 1997. By 27 October the crisis had had a world wide impact, on that day provoking a massive response on Wall Street with the Dow Jones industrial average falling by 554.26 or 7.18 per cent, its biggest point fall in history, causing stock exchange officials to suspend trading.
Countries such as Thailand, Indonesia, Malaysia and the Philippines have embraced an unusual policy combination of liberalisation of controls on flows of financial capital on the one hand, and quasi-fixed/ heavily managed exchange rate systems on the other. These exchange rate systems have been operated largely through linkages with the United States (US) dollar as their anchor. (1) Such external policy mixes are only sustainable in the longer term if there is close harmonisation of economic/ financial policies and conditions with those of the anchor country (in this case, the United States). Otherwise, establishing capital flows will inevitably undermine the exchange rate.
Rather than harmonisation, there seems to have actually been increased economic and financial divergence with the US, especially in terms of current account deficits, inflation and interest rates. The...
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..., 'Crisis into Catastrophe?' Financial Times (London), 31 October 1997, p. 15.
8.Max Walsh, 'Aid Parcels to Japanese Banks', The New Zealand Herald, 18 November 1998, pp. 25-26; Max Walsh, 'Time for Japan to Save the World', The New Zealand Herald, 21 November 1998, pp. 29-30.
9.John McBeth, 'Big is Best: Indonesia's Rescue Package Draws on the Thai Experience', Far Eastern Economic Review, 13 November 1997, pp. 68-69; Greg Sheridan, 'The Asian Malaise is Curable', 28 November 1997, p. 13. National Business Review
10.Charles Lee, 'The Next Domino?' Far Eastern Economic Review, 20 November 1997, pp. 14-16.
11.Eric Ellis, 'Kim Inspects Mouth of IMF Gift Horse', Australian Financial Review, 24 November 1997, p. 12.
12.Teresa Wyszomierski and Christopher Lingle, "Fortress Japan Under Siege', Australian Financial Review, 19 November 1997, p. 20.
13.Ian MacFarlane, Forbes Magazine Business 1998, pp24-27.
14. Forecasts Lowered', The New Zealand Herald, 20 November 1998, pp. 29-30.
15.Reserve Bank of New Zealand, semi-annual Statement on Monetary Policy, November 1997, pp. 2-13.
16 A New Revolution by Peter Smith As published in NZBUSINESS, August 1998, PP
Wheatley was born in West Africa around 1750, and was captured when she was 7. John Wheatley purchased Phillis for his wife, Susanna; together they taught Phillis how to read and write, and as early as 12, Phillis was writing poetry and her first poem had been published. Wheatley’s poems implicitly advocated for racial equality, while condemning slavery. Her work received some negative feedback from political figureheads, such as Thomas Jefferson. White America classified a human as having the ability to read, write, and reason; therefore, leaving no room for the uneducated Africans, seeing Africans as nonhuman. Jefferson claimed Wheatley’s work was not literature because the moment he admitted Wheatley’s work was indeed literature, he would have had to admit she was a human being. The way Phillis Wheatley handled the adversity she faced is admirable. Wheatley definitely impacted American history, and “owes her place in history to advocates of inequality” (Young 1999
As the poem starts out, Wheatley describes being taken from her “native shore” to “the land of errors.” Her native shore was the western coast of Africa, and she was taken to the “land of errors” which represents America. America is seen in her eyes as the land of errors because of slavery. Wheatley is acknowledging right off the bat that slavery is wrong. Wheatley then goes on and references the “Egyptian gloom” which is italicized. The italicization forces the readers to focus and reflect on “Egyptian” and it’s possible
Phillis Wheatley was an African-born slave in the last quarter of the eighteenth-century in New England. She was born in West Africa and brought to America on the slave ship Phillis. She was, however, much more than chattel-she was a poet. Phillis was the first African American to have a book published. In a time when women were not expected to be able to read or write, and when teaching an African American to be literate was frowned upon, Phillis Wheatley became educated in Latin and English literature. The education of Phillis Wheatley was, for the most part, for the intent of training "a servant and would-be companion for domestic utility," in which they undoubtedly succeeded. However, they "got an intellectual adornment" who, with her knowledge of the poems of Alexander Pope, the "Puritanical whiteness of her thoughts," and ability to write poems, soon became a celebrity among Boston?s social elite (Richmond 18,19).
It can be argued that Phillis Wheatley has undoubtedly made significant contributions to literature on a grand scale. At the time that she began to showcase her talent for versifying poems, she was faced with the enslavement of her race. It can be argued to what extent someone is being held in slavery actually enslaved. It was inconceivable that a black slave female could achieve such a level of intellect that she was asked to verify that she actually did write her poems. Wheatley’s works have been critical in contrasting the assumption that African Americans were of inferior intellect. She was also criticized for not having her works make direct references to the abolition of slavery, and taking a more radical approach to addressing the institution. Wheatley, in her own right, did not need to take a radical approach to emphasize an anti-slavery message in her works. Through an analysis of the historical context of her poems we begin to see the consistencies and themes in her writing style, which helps readers to identify with the author. We can also identify with her use of religious inferences, classical citations, and unique use of language as instruments that not only highlight her heritage but provide a form of motivation in African American writers. This subtly sets the framework for an anti-slavery movement in her own distinctive way. Her works help to highlight how she is able to combine personal experiences and literary devices to establish her voice. Wheatley utilizes her poetry as an outlet to expose human frailty, and express her belief of racial and religious equivalence. Wheatley’s literature was essential in furthering the abolitionist movement. The goal and purpose of this movement was basically to put an end t...
On Being Brought from Africa to America is in itself a myth destroyer. Wheatly opens her resistance poem by choosing the word “brought” within the title. This word allows her voice to be echoed loudly but covertly. The word “Brought” symbolizes her current condition as a slave female. She has never been given the choice to be a human, thus it implies that ever since she came to America her right to be a woman has been denied. The fairer fellow has made her mere property without her consent. On the surface level her first two lines are meant to present herself as a submissive slave. However, Wheatly has a double-edged sword, she says “’Twas mercy brought me from my Pagan land; Taught my benighted soul” (Ln. 1-2). In a few words she is thanking the white society for teaching her to think and refers to mercy as something coming from both God and white folk. Yet if this poem was to be written without the social constrains of her time Wheatly would have said “I thank you white peoples for bringing me here, because your God is now my God, the intellect you think is reserved exclusively for your kind is now mine and you may not take it away as much as you beat me.”
Phillis Wheatley was born in Gambia, West Africa around 1753 (Andrews et al. 770). She was forced into slavery when she was about seven or eight years old and purchased by John Wheatley in July of 1761 (770) for his wife Susanna Wheatley, who named her Phillis after the vessel that transported the young slave (Samuels et al. 543). The Wheatley’s, with their two children, Nathaniel and Mary (Brawley 12), taught Phillis to read and write in English and also tutored her in Latin (Samuels et al. 543). Wheatley studied the Bible, the Latin classical works of Virgil and Ovid, astronomy, geography, and history (Brawley 13). Much of her poetry consists of elegies (poetry written as a reflection on someone’s life) and many of her works are...
His societal impact was much more profound because being in possession of a plethora of material goods - which even includes Edna, because of the time period - affirmed his place in society. “‘You are burnt beyond recognition,’ he added, looking at his wife as one looks at a valuable piece of personal property which has suffered some damage” (Chopin 7). Léonce attempts to affirm his status as the dominant male by dehumanizing Edna, which takes away her feelings of power and continues the cycle of oppression. Individuals who were part of the bourgeoisie had the opportunity to raise their societal status by obtaining valuable furniture, intricate homes and by going on vacations (Malkmes 24-25). Following this line of thinking, it is evident that Léonce’s priority was to simply raise his status in order to attain more material success and societal prestige. The oppressive practice of treating women as property was simply part of the male strategy to secure their “dominance”. They did this because, as James Beard states, “The conservative mind, bound by its dualistic simplicity, sees women as either wives and mothers or dangerous and unpredictable” (19). Léonce was afraid of Edna ruining his status, leading him to participate in this sexist
The poetry of Phillis Wheatley should be considered very controversial and powerful. The content of Wheatley’s poetry contains the muscle needed to strike controversy and power, but it also must be understood within the context of history. Wheatley was a black slave writing very methodic poetry in America during a time when African-Americans were considered to be less than animals. Reading and writing was not an option given to an overwhelming majority of slaves. Wheatley was able to do both with ease, and her white masters encouraged her to do so.
The novel The Awakening, written by Kate Chopin, sparked much controversy among the nation with topics of marital infidelity and most importantly, gender roles. This story set in Louisiana, centered on around a woman that questions and fails to meet societies standards, as well as roles as a wife and mother. Her failures and struggles as a woman allow us to gain a better understanding about gender roles in the late 1800s.
... of classifying what qualifies an I/O psychologist and the dual role I/O psychologists can operate in within their field. A qualified I/O psychologist by definition stretched to consider doctoral psychologist as well as degrees held from a school of business, or administrative science. Qualified I/O psychologists must possess a strong knowledge of research and scientific methods. Also, the programs must be founded from an accredited psychological program or university (“Specialty Guidelines”, 1981, p. 665). Throughout reading the multiple articles an important point to call attention to is the inclusion of multiple other forms of degrees which can be considered as a prime factor of I/O psychology’s complexities. Speaking to the multi-layered discipline, the struggle of boundaries between the Industrial side and the Organizational side has yet to be perfectly found.
Revelations is a contemporary style dance that tells the story of African-American faith and tenacity from slavery to freedom through a suite of dances set to spirituals and blues music.This choreographic work was first performed in New York City on January 31,1960 at the Alvin Ailey American Dance Theater and later recognized to be a signature piece for the theater. Alvin Ailey is the original choreographer of the masterpiece titled “Revelations” and also the founder of the dance theater where the piece Revelations is mainly showcased, Ailey was an African-American born January 5,1931 in Rogers, TX , only 29 when he decided to develop this dance piece. There was a time where opportunities for male dancers like himself was severely limited, so that 's when he decided to establish his work, this dance performance was Ailey 's idea for African Americans to express their talents,cultural history, and experience and was also encouraged by his memories of living in the south and his understanding of human development.
The illustration that Phillis Wheatley portrays in history is an African-American woman who wrote poetry. Her life goes more into depths that what is perceived, however. Phillis Wheatley uses her poetry as a unique way to get out the truth. Through poems such as On Being Brought From Africa to America and the poem about Lee, she made statements about was what going on at that time; a revolution. Phillis Wheatley was known as a revolutionary mother, for she gave hope to slaves, ease to whites, and was an influence to America. She was not known for conflict or trying to start an argument, but she more known for personalizing her thoughts onto a piece of paper, read by all of America. Her ideas were used as an influence during the revolutionary war. Phillis Wheatley was not an ordinary slave, but she was accepted into society my the majority. The family who raised her, taught her how to read and write, and she slowly turned into a woman of the revolution.
African American criticism solely challenges “established ideologies, racial boundaries, and racial prejudice.” Frequently, it views the white American as the oppressor of the African American, who is historically enslaved in colonial America. Bressler mentions prominent poet Phillis Wheatley whose personal story sheds light on the effects of slavery in American literature, culture and her own personal life. He states the significance of slavery as “a historical event” and its racial implications that are still relevant today. Through Wheatley’s life story, Bressler highlights the marginalization of blacks socially, politically and economically. The Harlem Renaissance is credited as a “rebirth” of black literature and art that is idealized
The stability of currency values plays a significant role for economic and financial stability. It is not difficult to see the exchange rate fluctuations are widely regarded as damaging. As the movements of the exchange rate have significant and large effects on the trade balance, resource allocation, domestic prices, interest rate, national income and other key economic variables. Then can exchange rate movements be predicted by these fundamental economic variables?
“Japan had another ingredient useful for imperial expansion-arrogance- a view of their country as the land favored by the gods, the land that others should recognize as superior” (Hane, 2).