The Effect of Foreign Trade on Tthe Nigerian Economy Essay Example for Free

The Effect of Foreign Trade on Tthe Nigerian Economy Essay Everyday, the need for foreign trade is on the increase as the needs of man is unlimited (Adams Smith). This is visible in the rise for consumer goods and services throughout the world especially with the increase in world population of over 6 billion people. Man with his advancement in social interaction and technology is able to visualize and perceive in his mind what he desires. This was obvious with the industrial revolution where production demand increased. With the location of raw materials in different geographical zones making them ubiquitous in some areas and scarce in others, the demand for certain goods is on the increase, which gave rise to the concept of foreign trade†¦Ã¢â‚¬ ¦. . .Foreign trade exists alongside domestic trade, which has also undergone transformation from the old style of â€Å"trade by barter† to â€Å"business†. In the light of this, Nigeria as a nation participates in foreign trade. Foreign trade as defined by Longe, (2008) is the buying and selling of goods and services beyond the geographical boundaries of a country or between one country and the other. Foreign trade also referred to as international trade, can be bilateral or multilateral and involves the use of different currencies. The Economic glossary defines foreign trade as the exchange of goods and services between countries, and as such, it goes ahead to explain that the inclination for one country to trade with another is based in large part on the idea of comparative advantage†¦Ã¢â‚¬ ¦.. Foreign trade is just an extension of production, exchange and consumption of goods and services that are fundamental part of life. The Wikipedia encyclopedia defines foreign trade (international trade) as the exchange of capital, goods and services across international borders or territories. In such countries, such trade represents a significant share of the GDP. Foreign trade comprises of imports, exports, and entreports. The economic, social and political importance of foreign trade has been on the rise recently due to specialization in production. Industrialization, advanced transportation, globalization, Multinational Corporation and outsourcing are all having a major impact on the global foreign trade system. Increasing foreign trade is very important to the growth of globalization as international trade assist in bridging the gap and creates availability of goods and services to other nations. The aim of foreign trade is to increase production and to raise the standard of living of the people. Foreign trade enables citizens of a country have access and enjoy the products of another country. According to †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. reasons for foreign trade are for the following reasons; uneven distribution of natural resources due to difference in climate, division of labor and specialization, difference in economic growth rate, theory of comparative cost, availability of all types of goods, increased standard of living, large scale production and stable price. According to the theory of comparative cost, each country should concentrate on the production of those goods for which it is best suited, taking into account its natural resources, climate, labour supply, technical-know-how and the level of development. Akeem (2011) explains that foreign trade plays a vital role in restructuring economic and social attributes of countries around the world. Aids to trade includes; banking, warehousing, insurance, transportation and advertisement. According to †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. , there arises challenges in implementing foreign nations involved in foreign trade is done using exchange of currency Increase in tariff, high duty on some imported goods as well as some export goods. Exposure to risk since they are transported either through the road, air, rail and sea. 2. Poor intermodal transport network in developing countries such as Nigeria. 3. Poor government policies on trade and industrialization. 4. Corruption and unaccountability. 5. Insurgence of terror groups globally acts as a threat to foreign trade. 6. Late payment for goods which results to demurrage and high port charges. 7. Language barrier slows foreign trade. With a geographical land mass of about 923,768sqkm, Nigeria is located along the Atlantic coast line. The location of natural resources in almost every part of the country has attracted trade domestically and internationally. These resources include cash crop, food crop, solid mineral, livestock and aquatic life. During this period, the industry in existence was the extractive industry and the scale of production was minimal. There existed trade by barter, the use of cowries, and coins as the medium of exchange. Nigeria experienced foreign trade with the insurgence of the British, Portuguese etc, who explored the country and tapped our natural resources. The colonial masters journeyed into the hinterland and assisted in the construction of the early road networks and later, rail lines which connected major cities to the ports in Lagos, Port Harcourt and Calabar. These routes provided means of transportation for the export of cash crops like palm oil, cocoa, groundnut, rubber, etc to the industries in Europe and America. Between the periods of 2005 and 2010, many industries e. g. Unilver, located in Nigeria relocated to neighboring West African countries and their home base because of the numerous problems such as epileptic power supply, high tariff on import, corruption, inadequate social infrastructure and high tax rates imposed on them by the government. These factors have affected Nigeria’s foreign trade, especially with her over dependence on crude oil which was discovered in Oloibiri, Bayelsa State, formerly Rivers.

Bipolar disorder Essay example -- essays research papers fc

The Bipolar Child – A New Emergence   Ã‚  Ã‚  Ã‚  Ã‚  The bipolar child is a relatively neglected childhood diagnosis that is the subject of great controversy in the fields of clinical and child psychiatry and psychology. Diagnosis and treatment of such a devastating disorder is very difficult due to several different factors, including, Childhood-onset Bipolar Disorder (COBPD) does not have its own criteria in the Diagnostic and Statistical Manual of Mental Disorders - Fourth Edition (DSM-IV), published by the American Psychiatric Association, Washington D.C., 1994, the main diagnostic reference of Mental Health professionals in the United States of America, a child shares the same criteria standards as an adult, plus there are several similarities in COBPD and Attention Deficit Hyperactivity Disorder (ADHD), causing some misdiagnosis, and the simple fact that there is little reference to the disorder in a medical and psychiatric field afraid to step into the world of childhood mood disorders.(Papolos NARSAD 2003, P opper 1989, NIMH 2000) Only until recently has more research and development been conducted on COPBD. According to the DSM-IV diagnostic criteria, a person must have at least five of the following symptoms during the same two week period to qualify as a major depressive episode: a depressed mood lasting most of the day for several days, a significant weight gain or weight loss, a loss of interest in activities, difficulty sleeping or an increased need for sleep, restlessness or slowed pace observable by others, daily fatigue, feelings of guilt or worthlessness, inability to concentrate, or recurrent thoughts of death. For a mixed episode, a person must display symptoms of depression and mania every day during at least a one-week period. A manic episode is described as elevated or abnormally irritable for at least one week, with a least three of the following: personal greatness, decreased need for sleep, extreme talkativeness, â€Å"racing† thoughts, distractibility or hypersexuality (excessive sexual activity, or sexual desire). The DSM-IV states that these symptoms must inte rfere with daily functioning and not be a result of the effects of drugs, medical condition, or temporary results from a traumatic event for all of these; depression, mixed state, and mania. The Child and Adolescent Bipolar Foundation lists four types of mood disor... ..., Anita Ph.D. About Bipolar Disorder (Manic Depression Illness). Kluger, Jeffrey and Song, Sora. Young and Bipolar Time.com. Time archive. August 19,2002. Letters Time.com. Time Archive. September 9,2002 Moyer, Paula. ADHD Kids May Have Bipolar Disorder, Too -Treating ADHD Alone May Worsen Bipolar Symptoms. WebMD Medical News. Oct. 29,2002. Papolos, Demitri F. M.D. Childhood-onset Bipolar Disorder: Under-diagnosed, Under-treated and Under Discussion, NARSAD Research. 2003. Papolos, Dimitri F. M.D. and Papolos, Janice. The Irrepressible Agenda of Children With Bipolar Disorder. The Bipolar Child Newsletter. October 2002. Vol.12. Popper, Charles M.D. Diagnosing Bipolar vs. ADHD. Journal of the American Academy of Child and Adolescent Psychiatry, Summer, 1989. Helping Children with Early-Onset Bipolar To Learn â€Å"A Guide for Teachers and Administrators† prepared by Parents of Children with Early-Onset Bipolar The BPParent Listserv. Owner/Founder S.M. Tomie Burke Weller EB, Weller RA, Fristad MA. Bipolar diagnosis in children: misdiagnosis, under diagnosis, and future directions. Journal of the American Academy of Child and Adolescent Psychiatry. 1995; 34(6); 709-714.

Freedom Fighters Patriotism Essay

India was under British rule for over more than 200 years. The freedom of India did not come easily. It required fearless courage and true spirit to regain India’s freedom. The freedom history of India is full of great leaders and freedom fighters that faced exploitations, hardships and immense torture to earn freedom that was dutifully ours. It demanded immense courage and sacrifice to devote one’s life to the cause of freedom of the mother nation. Every Indian who lived under the British rule dreamt of an independent India. Different freedom fighters adopted different ways of fighting the British Empire but the common objective was same, to earn the freedom. Credit must go to the spirit of those great fighters who aimed to abolish the British and various other colonial authorities ruling over different parts of India. It is because of them that we are living in a free, democratic country. The freedom of India came after a century of struggle, revolution, blood shedding, sacrifices and battles. Before India finally achieved the freedom on 15th of August, 1947, many lives were lost and sacrificed on the altar of independence. Countless patriotic people and freedom fighters who possessed tremendous spirit and immense bravery surrendered their lives for the sake of free India. The freedom came at a heavy price, of lives and division of united India and that’s why we must respect and appreciate our independence. Indian freedom fight officially began with mutiny of 1857. The initial freedom fighters and patriots were Mangal Pandey, Rani of Jhansi, Tantia Tope and several others. They led the uprising that was brutally suppressed by the cruel British rulers. It was the arrival of the Father of the Nation, Mahatma Gandhi that completely changed the landscape of Indian freedom struggle. His main weapon was non-violence that paid handsome returns for the Indians. There were several prominent freedom fighters who toiled for the independence of India. Names like Gopal Krishna Gokhle, Lala Lajpat Rai, Annie Besant, Bal Gangadhar Tilak, Bipin Chandra Pal, Bhagat Singh, Sukhdev, Chandrashekhar Azad, Jawaharlal Nehru, Maulana Abul Kalam Azad, Sarojini Naidu, Dadabhai Naoroji, Chakravarti Rajagopalachari, Sucheta Kriplani, etc have made themselves immortal in the annals of Indian freedom fight. These leaders were well assisted by thousands and lakhs of men and women who fought daringly for the independence of India.

The Role Of Tourism In Economic Development - Free Essay Example

Sample details Pages: 8 Words: 2411 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Argumentative essay Tags: Problems Essay Did you like this example? All sectors of the economy play an important role in making a stable and long running development. Tourism is one of the sectors which plays an important role in development and also generates foreign revenues. This sector is peaceful and reflects the nature and beauty of the country. It helps people of far flung areas to promote their culture and norms, it also provide opportunity to country to make a better image around the world. There are many issues this sector is facing nowadays and the popularity of this sector is sliding down day by day means that people is not ready to make tours because of many problems and threats to security and life. Several studies and researches have been conducted on this tourism and its relation to development of economy and also that how can we promote this sector? How can we create better image to world and also what measures we can use to maximize the development? Michael Hitchcock (2004) had explained that tourism and culture ha ve a deep relation. Culture is based on originality, authority, authenticity and many more. Tourists are attracted by such types of factors, he says that invest and reinvest is not modernization and its the human culture that remain there for a long time. Tradition is invested and process goes on its known as constructivist. Cultural transmission is not an authentic option, reproduction is not renew it have its own originality. We should make a clear difference in between the reproduction and originality. In order to save the cultural heritage and to attract tourists he says that culture should bi neat and original. Mohamed Tangi (1977) had conducted a research that Mediterranean handles one-third of world tourism that has damaged the environment of that region due to many factors. He says that Greece, Spain, Cyprus these countries are visited more and the environment is quite hurt for dense tourism to these areas. The natural sites are reduced due to excessive construction for t ourists and visitors. Tourism and environment are two parallels that move together, tourism mainly depends on environment along other factors, world is facing huge and fast rising in pollution as more tourism is rising in world. Environment can be man-made, natural or cultural in nature, all have effects on tourism and vice versa, cultural environment includes art, religion and human relations, which can be effected or disturbed by tourism. The countries which are rich in these factors can attract more tourists to their region; tourists may introduce new ways or styles to the places, which can be waste or injurious to the visited destination. He explained few alternative strategies or development policies to promote tourism to the region. It includes the land use planning, expand and construct islands, holidays and pricing policy, facilities to tourists, anti-pollution and policies, training and information to locals, rules and codes of conduct. Using these and promoting these strat egies country can raise its tourism level and also promote development in the region. Tourism will be based on co-operation and planning in the future world, united nation environmental program and world tourism organization both are working and have to play an active role in tourism promotion and protection. Barry Liddle (1989) had explained that tourism is helpful for local government to have a better economy and development. Presently it is the leading sector of the world and it will be stronger in future. Tourism can be of many types i.e. for leisure, work and business or for any purpose. Here industrial tourism is important type of tourism that can generate much information and knowledge. It further has an option that modern industrial tourism means that companies choose a day and at that day they arrange a proper tour to their company or exhibition. They also provide the full tourists facilities to visitors, so to make them feel comfortable. The industrial tours can be upda ted to local and national level to boost the economy, audit, local, central government and different councils should step in to make this type of tourism better and popular. Erik Cohen (1984) had made a research that there are not much empirical studies in tourism economy, so this is required as we are moving into new and fast world. There are four main principles in tourism i.e. tourist that based upon his motivations, attitudes, role and reaction in response to others actions, the ideas, thinking and relationship of the locals and tourist matters in this sector, the structure and infrastructure of tourism system is an important part that can help it to flourish, the better the system the better will be the outcomes and economic and social impact from tourism to visited destinations. Tourism is based on culture that helps this industry to develop and become a helping hand to economy. More empirical study is needed to merge it with theory and provide world more information about this sector in a systematic way. Amanda Stonza (2001) has explained in the article that tourism is mainly divided into two parts i.e. origins of tourism and impacts of tourism and the main problem is that tourism origins is only concerned with tourists and foreigners, while the impacts are only related to local public. The two halves provide different meaning and together they also only provide partial meanings not full, so origins of tourism should include the local public that how they can attract tourists? How they can promote the tourism in their region? Same is the case with the impacts of tourism; it should include the tourists who are willing to visit the particular places in world. What are the changes that have occurred in tourist after the trip? Origins and impacts both should be positive then the countrys social, cultural and economical conditions will be develop and their tourism sector will grow in a positive manner. Janette Deacon (2006) explains tourism as an im portant sector of economy and also throws light on not so important type of tourism i.e. rock art conversation. This type of tourism is known as cultural or heritage tourism, cultural or heritage sites are main reasons behind the tourism in most Asian nations like China, India, Pakistan and SriLanka. Rock art conversation is famous in African nations, this tourism is in Africa but its not on large scale. Many ways are discussed to promote rock art conversation tourism so we can save it for vanishing from world. Factors that promote all types of tourism including this rock art conversation is training, skills, education guidelines, security, interests, attractions and many more. These factors will help tourism economy to expand that can create a better image of countrys tourism sector around the globe. International council on monuments and sites and international cultural tourism charter are two major sources to save and promote rock art conversation in tourism sector. Agha Iqrar Haroon (2002) had explained that sustainable tourism can be achieved by working together with the local public sites that can be visited. Ecotourism in Pakistan is not working in a proper manner and Pakistan is not even near to sustainable tourism. In the northern areas 70% of economy is in hands of big businessmen that belong to other provinces and only 30% are in hands of local public. This local public has to survive on daily basis wages and all this is due to big businessmen have share of 70% from revenues and they also have support of tourism companies and government either local or federal. Local public is ignored in framing the policies and sharing the generated revenues, the big businessmen can provide imported facilities to foreigners that the locals are failed to do so. These acts have a negative impact on the employment and on living and earnings of local public of those northerner areas, so government should take few daring steps to save the public from exploitation fro m these wealthy investors. Government can invest in these areas, can ensure participation , secure future of local public, share more revenues to locals, heavy tax should be imposed on wealthy businessmen, irrelevant construction should be discouraged, local goods should be used that will generate profits and employment in region, training and guidance to public of concerned area. By doing all these actions our northern areas can be a top place to visit and Pakistan can achieve a sustainable and healthy development in tourism sector. Dean Maccannell (2002) says that tourism is faster growing sector and it has relations to the non-economic factors. Ego factor counts a lot in tourism that personal behavior about tourism and travel, tourism is dependent on the classical and touristy experimental commodity. Ownership and attraction are non-economic factors in tourism or travel, tourism can promote opportunity, preservation and care of cultural heritage will promote tourism and theses are the main factors along the other factors that help to make a stable growth in this fast expanding sector. In short the human ego and the attractions to tourist sites are important factor for development of tourism economy of any country. Yoel Mansfeld (1994) conducted a survey on the tourism in Middle East and what are the major factors that have reduced the tourism to the region of world? In 1980s average growth rate of world for tourism is 6.2% and for Middle East it is 5.9% approx. Turkey and Greece also suffers from the conflict in Middle East between Israel and Palestine. Author also explains that international tourism is main source for developing countries to generate revenues, boost economy, creates jobs and much more. All these things will help them develop and achieve stability. Security situation has a huge impact on tourism around the globe and especially in Middle East that how much Israel suffered? How much other Arab and non-Arab nations have to face decline i n their tourism? War or conflict between the Arabs and Israel is major threat to tourism in Middle East. Spill over effects are major in world tourism that if one country suffers from security threats her neighbor will also have to face the consequences being a neighbor. Spill over effects will determine their market strategies it means that how well you handle the pressure which is upon you due to disturbance in your neighbor country to save tourism industry of your country? Nowadays terrorism is main threat to world and especially in Middle East as the war is on in that region. So world have to sit together to find a safe and easy solution to this security threats and terrorism to save the tourism industry. Peter Murphy et al. (1989) along with his partner conducted a research that tourism is indirectly related to natural disasters, but this combination is rarely seen in world. Recently the two such cases are occurred one at Mount St. Helen eruptions in 1980 and the second is E ast Kootenay forest fires in 1985. These two areas are hit by natural calamity and that also effects the tourism ratio in these regions. In first case 30% decline is showed and in second case millions of dollars loss is shown. Along the natural calamity the man-made disasters also are common in world i.e. terrorism and other security threats to world tourism, the event of hijacking of Achille Lauro in 1985 have effected the tourism in Mediterranean region. Disaster planning have for main stages i.e. assessment, warning, impact and recovery, impact and recovery are two main stages that have more effects on tourism. Media coverage plays an important role that how media will post image to world? If the coverage is positive then recovery will be faster and if the coverage is negative then problem grows double and tourism will be badly disturbed. So nation should always be prepare for disasters and disaster management authorities should be at standby to handle the problem and also can sa ve tourism industry. Eric Neumayer (2004) used the fix effects panel estimators and dynamic generalized method in this research on small sample size of countries to find the effects of tourism. His main focus is on political violence and other acts that can effect the tourism economy. Tourists always look and prefer the safe sites for tour and they are not ready to take risk for enjoyment. Democratic regimes are more successful in handling the violence pressure and autocratic regimes are not able to cope with the violence that can harm tourism sector. Hall (2004) says that political stability and safety are prerequisites for a healthy tourism in country, the world faced a downstream in tourism economy since 2000-01 and developing countries are more effected, whereas Europe and U.S.A is still the most visited place in world. Terrorism in Greece, Turkey and conflict in between Egypt, Israel, Lebanon and others have a negative impact on tourism. Other nations of the region is also e ffected by the disturbance in region, they are facing a decline in tourism sector. As told above that developing nations are more hurt from this political violence and security threats to tourism sector, it took them years to correct their image in front of world. Huge loss in foreign revenues and decline in their gross domestic product is hurting them badly. So few steps are requires to save this peaceful sector from violence and disturbance. Dinah Payne et al. (1996) creates an ethical model for tourism industry that it is the largest and fastest growing industry in the world; it contributes much to GDP of country. Local community and environment is mostly kept outside from planning and management around the world. Local public should be included in the decision making and then it will helpful to all other factors in the tourism industry i.e. justice, integrity, competence and utility are the four main pillars that can help to create codes of ethics. Ethics is required in touri sm sector to make it move at smooth pace and this is basic factor that is helpful in tourism. Research shows the absence of ethics from the tourism industry, environment, community tourists and employees are the main factors that are required to enhance them more in tourism sector. The more will be the ethics the more will be the public and tourists interaction. Few suggestions are that local public should not be ignored, they should be more hospitable to tourists, they must save environment from destruction and list goes on. Codes should be followed in nice manner and that will be beneficial for the public and to tourism sector of country. So this ethics is much needed factor today in tourism industry to make it more attractive and peaceful. Don’t waste time! Our writers will create an original "The Role Of Tourism In Economic Development" essay for you Create order