Category: Trade

Characteristics of Global Trade

Characteristic of global trade[edit]Trading globally gives consumers and countries the opportunity to be exposed to new markets and products. Almost every kind of product can be found in the international market: food, clothes, spare parts, oil, jewelry, wine, stocks, currencies, and water. Services are also traded: tourism, banking, consulting, and transportation. A product that is sold to the global market is an export, and a product that is bought from the global market is an import. Imports and exports are accounted for in a country’s current account in the balance of payments. [2]Ancient Silk Road trade routesacross EurasiaIndustrialization, advanced technology, including transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system.

Increasing international trade is crucial to the continuance of globalization. Nations would be limited to the goods and services produced within their own borders without international trade. International trade is, in principle, not different from domestic trade as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. The main difference is that international trade is typically more costly than domestic trade. This is due to the fact that a border typically imposes additional costs such as tariffs, time costs due to border delays, and costs associated with country differences such as language, the legal system, or culture.

Another difference between domestic and international trade is that factors of production such as capital and labor are typically more mobile within a country than across countries. Thus, international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labour, or other factors of production. Trade in goods and services can serve as a substitute for trade in factors of production. Instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example of this is the import of labor-intensive goods by the United States from China. Instead of importing Chinese labor, the United States imports goods that were produced with Chinese labor.

One report in 2010 suggested that international trade was increased when a country hosted a network of immigrants, but the trade effect was weakened when the immigrants became assimilated into their new country. International trade is also a branch of economics, which, together with international finance, forms the larger branch called international economics.

An Overview of The Federal Trade Commissions’ Action on Companies

All businesses are protected by the law. The work of protecting the consumer rights is done by government body called the Federal trade commission. The main function of this commission is to ensure that the claims made on the product’s adverts and the and the stickers on the products are correct and true. When a company runs a false advert, or makes a false claim on the products they are selling, the FTC can therefore sue that particular company on behalf of the consumers. I present a few cases where FTC has taken actions against some companies.

Pomegranate juice was a product of Pom company. For a long period, the company had run an advert on the medicinal capability of the juice. The company had claimed that the juice would reduce the rate of growth of cancer as well as solve the erectile problems among men. After a serious research was carried out, it was clear that the allegations were not true and the FTC had invested more than twenty-five million to prove the accuracy of those claims.

Late after the investigations, POM company’s marketing licence for Pomegranate juice was cancelled. The company also was denied permissions to run any other form of advert for other products it was producing. The company was also selling other thirty-seven products and after the investigation, only nineteen were found to be legitimate. The rest of the products were being sold based on false adverts, which had made them popular in the market.

The penalty, which the FTC fines the companies that abuse the consumer rights goes up to one thousand and six hundred dollars. The other company that has found itself on the wrong side of the law is Ohio Car Dealer Company. The company had abused the consumer rights by making false advertisements. On their advert, the company had stated that they were selling their cars on discount. When customers went to buy their cars, they discovered that the discount was only meant for the expensive models only. This advert was seen as misleading the potential customers. Their advert was missing an important part. The part of clarifying which cars were on discount was omitted to mislead the customers.

The Ohio Car Dealer Company was warned against making a similar deceptive advert in future. The car dealer company was blocked from advertising its car prices and discounts and if there was need to do so, then the company advert was to be accompanied by a clear disclosure. Since then, the company has no right to mention the number of cars that are available and at what price, in their adverts. This is not the only car dealer company to have misrepresented the facts about their car selling price and the percentage discount they are giving out to customers.

The other company that had violated the consumer rights is the LifeLock company. LifeLock company offers services related to protection of identity theft. On their agreement with their clients, they had promised to protect their clients against all sorts identity theft. The agreement also included that a customer would pay ten dollars to cover him or her from identity theft. It was later discovered that their promise to the clients was false. The experts discovered that there was no way one could completely prevent identity theft. The measures LifeLock was putting in place could only work for a few individual but not to all. Most of the people private information about their health and employment was still leaking out. The company system was vulnerable to hacking and it posed a serious danger to clients’ privacy since most of the people had provided the company with their private information.

The FTC asked the company to stop giving people false hope and misleading information of privacy theft prevention. They were forced to rewrite their agreement with the clients about the means and the effectiveness of their identity theft protection services. The act of making one’s business known is called advertisement. It is the whole act of making your product popular in the market to attract customers. When advertising for a small company, Derrick should consider the following. A advert should be truthful, fair and non-deceptive with clear evidence to support it. He should understand that the information presented to the customer should be clear, truthful upfront and understandable.

When making an online advertisement, Derrick should clearly know that he is not allowed to use an automated or recorded voice system. He should clearly state the product identity name and seller, clearly state the total cost of goods sold within a particular period of time and explain to the users whether the goods sold can be reaccepted.

The marketing plan for Cruz would be considered illegal. The act of promising customers who give the product a high rating of five stars a reverse for their money can be described as bribing the customers for the purpose of popularizing the product. It should be the clients who give the feedback and not the opposite. After using the product, the customer should willingly give it a rating and give the feedback. There are only two return methods that David can employ to perform a better performance process. When the student fails to achieve an A, the money is refunded or the money is refunded when a student performs.

The rule of disclosure indicates that there should be a disclosure by a company about all the information concerning credit sale. Buck, in his new deal should follow this rule. The rules involved should also be given to the customers to read and understand the penalties. The whole information about the monthly payments and the amount paid if defaulted for the purchase of should be disclosed to the customers. The use of credit service in acquiring whether any person is credit worth and to what limit he should be given credit can be employed to realize good returns. It is also advisable for one to check whether the customer has cleared the pending loans and his credit records.

Industrial Internet of Things as The Most Popular Industrial Technical Paradigm

In recent years, industrial internet of things (Industrial IoT) has become the most popular industrial technical paradigms and business concepts. With the continuous integration of emerging information and communication technologies (ICT), the industry is envisaged to experience a revolution in its way of operating toward autonomous (Meng Z. et al, 2017). The envisioned industrial systems can potentially empower collaborative Practices, which promises greater production flexibility and product variability with minimized human interventions. As an example, new services such as real-time event processing or 24/7 access to tracking information will be introduced into the supply chain (Sanchez-Iborra, R. Cano, M. 2016). Having a thorough monitoring system deployed all along the manufacturing and supply chain allows enriching the complete value chain with precious information, minimizing losses against unexpected events, and hence improving both business processes and the information exchange among stakeholders. Industrial IoT, incorporates machine learning and big data technology, harnessing the sensor data machine-2-machine (M2M) communication and automation technologies that have existed in industrial settings for years. What’s changing is that the Industrial IoT concept is driving the automation industry to ensure greater interoperability of its products. And that means it’s time to find standards to apply to these technologies and their applications.

Analyzing Industrial IoT through modelling is to be regarded as the best way of the study for better understanding of the challenges imposed by such systems. As modelling of the Industrial IoT is related to a wide context, we categorize the related work into the following categories from i to iv i. Research trends in Industrial IoT Gubbi et al. present a cloud-centric vision to implement the Industrial IoT worldwide. They discuss the core technologies and application areas that can define the IoT research direction in the future. While Jara et al. consider the challenges and opportunities in extending the public IPv4 address space for the Internet of Everything through IPv6 to support the IoT capabilities. Sallai, G. first summarizes the challenges of the Current Internet and draws up the visions and recent capabilities of the Future Internet and then, Sallai, G. identifies the clusters of the relevant research topics defining them as the chapters of Future Internet research activities in a layered model. It includes basic research on the Internet Science, the Internet Engineering up to the Future Internet applications and experiments. While Wireless sensor networks (WSNs) provide a virtual layer in which the data about the physical world can be retrieved by any computing system. Alcaraz et al. emphasize that WSNs are an invaluable resource for realizing the vision of the IoT in terms of integration, security and other issues. The collection, modelling, reasoning and distribution of context with respect to sensor data as well as context aware computing play a critical role in the IoT applications.

Babar et al. provide analysis of IoT in the context of security, privacy and confidentiality issues and propose the Security Model for the IoT (Babar et al. make analyses of the Internet of Things with regard to security, privacy and confidentiality and propose the security model for the Internet of Things.). Weber considers new security and privacy challenges from the international legislation that is pertaining to the right to information, provisions prohibiting or otherwise limiting the use rules on IT security legislation, supporting the use mechanisms of the IoT(Weber considers new security and data protection challenges arising from international law in relation to the right to information, provisions prohibiting or otherwise restricting the application of IT security law rules, in support of IoT usage mechanisms.). Skarmeta et al. propose a distributed capability-based access control mechanism. The latter is based on public key cryptography in order to cope with some security and privacy challenges in the IoT. Their solution uses the optimized Elliptic Curve Digital Signature Algorithm inside the smart object. Slavin et al. introduce the security requirement patterns that represent reusable security practices that software engineers can apply to improve security in their systems.

The paper proposes a new method that combines an inquiry cycle-based approach with the feature diagram notation to review only relevant patterns and quickly select the most appropriate patterns for the situation(1 Skarmeta et al. propose a distributed, capacity-based access control mechanism. The latter is based on public key cryptography to address certain security and privacy issues on the Internet of Things. Your solution uses the optimized digital signature algorithm of the elliptical curve in the Smart object. Slavin et al. provide templates of security requirements that represent reusable security practices that software engineers can apply to improve the security of their systems. The paper proposes a new method that combines a review cycle approach with scoring of the characteristics diagram to examine only those models that are relevant and quickly select the most appropriate ones for the situation.)(2 Skarmeta et al. propose a distributed and capacity-based access control mechanism.

It relies on public key encryption to address certain security and privacy issues on the Internet of Things. Your solution uses the optimized digital signature algorithm of the elliptical curve in the Smart object. Slavin et al. provide models of security requirements that represent reusable safety practices that software engineers can apply to improve the security of their systems. The document proposes a new method that combines a review cycle approach with the characteristic diagram notation to examine only the relevant models and quickly select those that are best suited to the situation.) . Heer et al. discuss the problems and application possibilities of the known Internet protocols and security solutions in the IoT. The authors also describe the deployment model and the core security requirements and emphasize the technical restrictions being specific to the standard IP security protocols. (Heer et al. discuss problems and possibilities to apply known Internet protocols and security solutions in IdOT. The authors also describe the implementation model and basic security requirements and focus on the technical limitations of standard IP security protocols.)

Security and privacy Energy issues within IoT Energy consumption (EC) is the key problem in IoT. Zhou et al. describe the energy models (EMs) of the WSN node core parts, such as processors, radio frequency modules and sensors. The basis of EM is the event trigger mechanism. The authors first simulate the node components and then estimate the EC of network protocols using this EM. The model presented here is suitable for WSN EC analysis, for evaluation of network protocols and for WSN application development. Schmidt et al. describes a method to construct models for sensor nodes based on few simple measurements. They provide a sample where models are integrated in a simulation environment within the proposed runtime framework to support the model-driven design process.

Measurements show that the proposed model enables to significantly reduce EC. Lanzisera et al. propose a ‘communicating power supply’ (CPS) to enable the communication of energy and control information between the device and a building management system.. Friedman and Krivolapov describe a study that deals with a combined effect of power and throughput performance of the Bluetooth and Wi-Fi usage in smart phones.

The study discloses some interesting effects and trade-offs. In particular, the paper identifies many situations in which Wi-Fi is superior to Bluetooth, countering previous reports. The study also identifies a couple of scenarios that are better handled by Bluetooth. The conclusions from this study give the preferred usage patterns that might be interesting to researchers and smart phone developers. Venckauskas et al. present the configurable IoT prototype unit that enables to perform various experiments in order to determine the relationship between energy and security in various modes of the IoT unit. The paper also presents a methodology of measuring the energy of the IoT unit. While applying, the methodology provides results in two different modes: ideal (without effect of noises within a communication environment where the IoT unit works) and real (with effect of noises). ( Energy consumption (EC) is a major problem for IoT. Zhou et al. a description of the energy models (EMs) of the central parts of the WSN node such as processors, radio frequency modules and sensors. EM is based on an event activation mechanism. The authors first simulate the node components and then evaluate the EC network protocol using this EM. The model presented here is suitable for the EC WSN analysis, network protocol evaluation and WSN application development.

Schmidt et al. describes the method of constructing sensor node models based on a few simple measurements. They form a sample in which the models are integrated into a simulation environment within the proposed runtime framework to support model-based design. Measurements show that the proposed model allows a significant reduction of EC. Lanzisera et al. offer a “Communication Power Supply” (CPS) to enable power and control information communication between the device and the building management system…. Friedman and Krivolapov describe a study that deals with the combined energy and bandwidth effect of the usage of Bluetooth and Wi-Fi connection in smartphones. The study reveals some interesting effects and compromises.

In particular, they identified many situations where Wi-Fi is a better solution than Bluetooth, which contrasts with previous reports. The study also identified several scenarios that are better managed by Bluetooth. The conclusions of this study provide information on preferred usage patterns that may be of interest to scientists, researchers and smartphone developers. Venckauskas et al. present a configurable prototype of the IoT, which allows for various experiments to be carried out to determine the relationship between energy and safety in different IoT modes. The paper also presents the methodology of energy measurement in the IoT unit. The methodology provides results in two ways: ideal (without the influence of noise in the communication environment in which IoT operates) and real (with the influence of noise)

Shaoshuai et al. propose the multi-objective decision-making using the evaluation model of service quality. This model takes into consideration both the state of the system and the user settings to improve the model of the QoS validity. The calculated assessment of the proposed model can be used as a parameter for estimation and selection of service. Jin et al. present various architectures of IoT for smart city applications and determine their required network QoS. As QoS is one of the major networking challenges, the topic is at the focus in both wired and wireless networks. In WSNs, many researches pursue problems related to radio interfaces and radio noise interference. Fok et al. state that, in order to meet the individual needs of many systems, users require multi-dimensional QoS.

In this respect, the authors present a simple abstraction mechanism, which consists of QoS functions of each application. This function combines various aspects of QoS for each user to a single value, which is used to define the best method of interaction. Liang et al. address the discontinuous reception/transmission (DRX/DTX) optimization, by asking how to maximize the sleep periods of devices while guaranteeing their QoS, especially on the aspects of traffic bit rate, packet delay and packet loss rate in the IoT applications. There are proposed efficient schemes to optimize DRX/DTX parameters and schedule devices’ packets with the base station. The main idea of the presented scheme is the balance between the QoS parameters and DRX/DTX configurations. Simulation results show that schemes can guarantee traffic bit rate, packet delay and packet loss rate while saving energy of user equipment.

Shaoshuai et al. provides decision making through a model for evaluating service quality. This template takes into account both the system status and the user settings to improve the QoS validity model. The calculated evaluation of the proposed model can be used as a parameter for evaluating and selecting the service. Jin et al. introduces different IoT architectures for intelligent urban applications and defines your desired QoS network. Since QoS is one of the biggest network challenges, this topic focuses on wired and wireless networks. Several studies within the framework of the WSM deal with radio interface and interference problems.

Seal et al. claim that users need a multidimensional QoS to meet the individual needs of several systems. In this sense, the authors present a simple abstraction mechanism consisting of the QoS function of each application. This function combines different aspects of QoS for each user in a value that is used to define the best method of interaction. Liang et al. aims at discontinuous reception/transmission optimization (DRX/DTX) and asks how to maximize device downtime while ensuring QoS for devices, especially in terms of bit rate, packet delay and packet loss rate for IoT applications. Pproposed efficient schemes are provided to optimize the DRX/DTX parameters and the device packages programmed with a base station. The basic idea of the schema is a well-balanced relationship between QoS parameters and DRX/DTX configurations. Simulation results show that schemes can guarantee traffic bit rate, packet delay and packet loss rate while saving energy for the user’s devices.

The aim of this project is to provide a study of wireless protocols for industrial IoT focusing on performance, security and power efficiency targeting to identifying the abstract security–energy relationships for the variety of wireless communication protocols to provide the energy performance measurements (using the created environment and the IoT unit) in order to test the feature models and to obtain the concrete characteristics of the relationships.

The project will focus on analysing wireless protocols for industrial IoT focusing on performance, security and power efficiency. In addition to the typical tasks of conducting a literature review and thesis writing, we also envisage the following research tasks (RT) in this project. RQ1: What are the wireless protocol with enhance performance, security and power efficiency? Research efforts will focus on understanding and utilising the relationship and dependencies between the performance, security and power efficiency. RQ2: Experimentation/simulation to test and validate the different wireless protocol.

Business Integration of Offline and Online Retailing

Offline and online retailing will soon become completely integrated into one. This will mean that one will not be able to do without the other. In the fast-moving world, Alibaba Group has been able to emerge as the biggest e-commerce company in the world. They made the shift to data company due to the integration of online and offline retailing. Data is a powerful tool used to help businesses understand their consumer preferences and to alter their products to make better ones while improving the customers’ experience. This is what the Alibaba Group strives on. UniMarketing During the Cannes Lions Innovation festival, Alibaba unveiled some marketing tools that allowed the use of real-time data to target Chinese customers and their preferences. One that I fond interesting was Uni Marketing. It analyses realtime data from the Alibaba Group ecosystem to be able to provide brands with accurate insight into the customers’ preferences and behaviors. This is helpful to the brands to be able to segment the customers while creating ample room for communication among them and their customers. It is able to target more clearly than other similar tools because it uses the whole Alibaba’s ecosystem data to be able to provide references of customers all across China. Publicis Groupe has been the first to adopt this strategy, which it targets to use and understand its luxury customers better. Uni Marketing is based on four strategies. The first one is exhausting the ‘Brand Databank’, which is an online dashboard providing data from customers and suggesting actionable steps.

The second is Uni Strategy with help in efficiently categorizing its customers; learn its behaviors, which eventually provides a complete picture of how different customers behave. The third is Uni Communication. It is an ad-serving tool, which gathers information from all leading Chinese media and feeds it to the Databank. This way allowing agencies to improve market capabilities and support brands. The fourth is the Uni Operation, which finally enables brands to personalize and create content for customers building relationships effectively across the board. Potential Business Value of Using Data It has been predicted that by the year 2020, the Chinese cloud market could reach $20billion. Consider that two years ago it was only $1.5billion.

Alibaba is tapping into the offline market in China and eventually worldwide by integrating its immense online retail with the offline one. This means tapping into new ventures in the group. It has consistently shown improvement in its revenues. Its computer networks and massive data it contains gives it advantages in the technological innovations. It still continues to come up with technological advances that co-integrate the customers to the sellers. This friendly environment creates trust which turns into increased value on the business side of things of the group. Alibaba is the most diverse and complex Internet-based company in the world.

Through personalizing their data and making it more secure, more customers will prefer a friendly interface while shopping which is a source of value addition to the Alibaba Group. The Relationship Between the Use of Data and the Analytic Value Escalator Gartner’s Analytic Value Escalator is a framework used in business to integrate platforms, people and processes to align them to give or be able to strategically approach business in a smooth approach. The company has been able to do this through its immense collection of data helping them learn and understand the preferences of their customers. Through online and offline integration, the company has been able to effectively use the framework. This clearly indicates that Alibaba fits in the Analytic Value Escalator and keeps using it to provide better services to its customers.

Essay on Classical Era Trade Networks Compared to Ancient Era Networks

Greece has an extraordinarily rich tradition in the history of trade. The introduction of trade into Greek culture was one of the most defining points of Ancient Greek history. The need for trade came from the fact that all the resources that were needed in Greece were not always available hence the reliance on importing and exporting goods.

Initially, trade had been done by swapping goods of a similar value and it was not until around 590BC that coins started being used. Each city-state had its own unique symbol or feature on its coins but most just used the Drachma with an owl stamped on one side and Athena on the other side from Athens. The only exception to this was Sparta who refused to use the Athenian coin due to their rivalry. Kurke writes, coinage represents a tremendous threat to a stable hierarchy of aristocrats and others, in which the aristocrats maintain a monopoly on precious metals and other prestige goods. With the introduction of coinage looms the prospect of indiscriminate distribution, exchange between strangers that subverts the ranked spheres of exchange-goods operative in a gift exchange. (Kurke referenced by von Reden, pp.155). Seaford writes that the articulation of the citizen body in numerical terms [under Solon] …bestows on the abstraction of number a social significance, tending to replace birth and charisma in the determination of status, that is unparalleled in Homer but manifest also in the development of commodity exchange and of money at the expense of gift exchange (Seaford referenced by Reden, pp.155). Both authors make valid points about the impacts of money on social systems, however, they also claim that money was responsible for class lines which, although there were differences between the wealthy aristocrats and the poorer slaves and freedmen, there were no distinct class lines that had been fossilized and set into society as well as there being no middle class, the archaic Greek society was more of a division based on political standing and influence and citizenship more than anything else. Coinage relates to political gift giving as the person who was giving the gift would have to spend money on it and they would most likely have an inscription somewhere saying that it was their gift so they might get more political backing and become more popular with the people and if not themselves, then make a better name and legacy for their children.

Local trade and commerce in the Archaic Greek world were largely conducted in and around the Agora at the base of the Acropolis, particularly in city-states such as Athens, in which citizens could buy things such as food, household items, and if they so wished, slaves. Slavery was very common during this time, and it became solidly institutionalized in society. People could be sold into or born into slavery, but they could also escape slavery if they could pay their way out of the household. Even if they did end up having enough money to become a freedman or woman, they would still be, in the eyes of the rest of society, a part of the household that they had worked for previously and the label would stick with them. It, however, would not be passed onto their children as an inherited label and their children would most likely be seen as a citizen in their own rights. Some families have too many children for their land to support, others have to few to work it (Goody, 1973 referenced by Humphreys). Sons by right inherited equal shares of their father’s property in ancient Greece; daughters were given a dowry in lieu of inheritance, and if this was given in land in early times, dowry transfers would have tended to intensify inequalities in landholding (Humphreys pp.162). Inheritance laws were set up by city-states to keep the wealth concentrated at the top of society with the aristocrats. However, occasionally, some of this money would `trickle down` into the lower parts of society allowing the people at the bottom of society, such as freedmen, to become wealthier and rise in society.

Trading stations played a significant role as the furthest outposts of Greek culture. Here, Greek goods, such as pottery, bronze, and silver were exchanged for luxury items and exotic raw materials that were in turn worked by Greek craftsmen. The Greeks established trading enclaves within existing local communities such as at Al-Mina. The special status of Al-Mina as a port of trade for the long-distance movement of non-subsistence goods (Tandy, pg.64 chpt.3) along with other ports within Greece and its colonies allowed new sea trade routes to be established which, in turn, introduced Greek art to cultures in the East, and exposed Greek artists to a host of artistic styles and techniques, as well as precious stones.

As long as people have been trading with each other, they have created debt. And if people have created debt, some have been unable to pay what they owe. This was as true in ancient Athens as it is today. Before about the 6th century BCE in Attica, among a population consisting primarily of peasants and small farmers, borrowing occurred among members of local communities in the form of lending farming implements, small sums, and household goods. But when borrowing goes beyond neighborly trading, debts for such farmers and artisans become larger and more difficult to repay. From a vendor, a buyer could obtain an interest in property or goods by making a deposit, or an advance payment (Maffei, 2005, pp.261) The oldest form of security offered by the property was pawning. A third-person guarantor could also promise to pay if the debtor defaulted. from the earliest times, it was customary to make a secured sale with the right of recovery by the debtor. Thus, ownership of property is worth more than the debt passed to the creditor, but the debtor retained possession of it and could continue to get revenue from it in order to pay the debt. The debtor was entitled to the return of ownership after the debt was satisfied, but if the debtor failed to pay, the creditor retained ownership and got to take possession, regardless of the size of the debt compared to the value of the property. Debtors who lost control of their land became serfs who worked on the surrendered land and gave one-sixth of the produce or revenue to the creditor. If the debt was not paid off by the one-sixth payment, and if the debt came to exceed the value of the debtor`s land or other assets the debtor and his family became slaves. A debtor could also use his freedom as security for a debt, again leading to slavery upon default (Titze, 2013).

In Ancient Ages, civilizations used trade routes as a means to trade goods but actually, they traded more than goods. They also traded ideas, beliefs, and technology. One of the most essential trade routes through which these exchanges happened was Indian Ocean Trade. In the Indian Ocean Trade route, they traded goods such as Indian spices, Arabian aromatics, Chinese silk, and all other goods from different regions. They also exchanged nautical knowledge which led to the development of ships that were adapted to the Monsoon Climate. In addition, they learned ideas and beliefs about different cultures and beliefs. All of these impacted humankind on different levels but from my point of view, the main contribution to Humankind was cultural and religious exchanges. Firstly, we cannot state that it was possible to spread all the religions in the world. “Jonathan Z.Smith conceptualizes these differences by diving religions into those are practiced “here”(the domestic sphere), “there”(the civic and national sphere), and anywhere”. (“Networks and Social Cohesion in Ancient Indian Ocean Trade: Geography, Ethnicity, Religion.’, pg 385) .

All the religions that spread in this route belonged to anywhere groups which were Buddhism, Hinduism, and Islam that can be existed in each part of the world. The importance of the spread of religion relies on the identification of people. In those times, people’s connection to their geographical region wasn’t strong, thus when they traded with other regions, their religion would represent their identity. This was essential because merchants spread their identities and created religious communities in foreign regions that can give them a sense of identity and belonging. This community would facilitate the process of trading and adaption with regions that people did not know because people would have co-religionists in those religions whom they could trust and live with. These communities also lead the way to migrations which ease the development of cosmopolitan communities across the Indian Ocean. If the Indian Ocean Trade route existed for a long-time and if there was constant migration, these communities played a key role in these activities as they made these events happen easier and for a longer time because this community made it possible for minorities to exist in foreign regions. Secondly, religion didn’t only have an effect on creating communities but also religion affected local cultures.

Each religion presented a different culture which affected local populations. With the exchange of religion, people also exchanged their cultures. This led to the existence of heterogenous societies with different cultures. In those times, new-coming cultures didn’t destroy the existing cultures. They facilitated the creation of new mixed cultures. For example, in the Indian Sub-Continent, the north side had Islamic Influencers over Indian Culture and the south side where Hinduism and Buddhism were practiced was under the influence of Southeast Asia and Malay World Cultures. These two are examples of mixed cultures which didn’t eliminate the existing ones. These different cultural influences over different regions were essential because these influences helped regions in different ways. They helped them to develop and grow in areas such as Politics, Social, Commercial, and Languages. In that region, Islamic regions had their own legal and trading systems and languages. As other non-Islamic regions started to interact with them, they adopted them and began to use Islamic legal systems and languages while adapting them to their own cultures. This led to the development of those regions around the area as the Islamic system was one of the most developed systems of the time. To conclude, religious exchanges contributed to Humankind in areas such as the development of local regions and the existence of cosmopolitan communities around the Indian Ocean.

Bibliography:

1. Anderson, Thomas. “Teaching the Indian Ocean as World History.” World History Connected | Vol. 11 No. 1 | Thomas Anderson: Teaching the Indian Ocean as World History, worldhistoryconnected.press.uillinois.edu/11.1/anderson.html.
2. McPherson, KENNETH. Cultural Exchange in the Indian Ocean Region. westerlymag.com.au/wp-content/uploads/2016/07/WesterlyVol.29no.4.7-18.pdf. Westerly, No: 4, DECEMBER, 1964
3. Seland, Eivind Heldaas. ‘Networks and Social Cohesion in Ancient Indian Ocean Trade: Geography, Ethnicity, Religion.’ Journal of Global History 8.3 (2013): 373-90. ProQuest. 31 Mar. 2019.

Essay on Trade Networks in the Post Classical Era

The destiny of the Global economy: Transition, recession, or the end?

The global economy has been heavily debated as there is a lack of consensus as to its meaning, emergence, extent, and future. For the past century, there is a push and pull on globalization, decolonization, and world war-divided countries, after which an acceptance of the common economic ideology of capitalism united the world. Globalization made the world economically and culturally alike (Agnew, 2001) as countries adopted free markets and trade liberalization to integrate into the global economy. In turn, there is an increased mobility of goods, capital, resources, and information powered by technology and fueled by consumers’ yearning for cheap and a variety of products (Ohmae, 1995). However, today, developed countries’ protectionism and huge inequality among nations threaten the global economy. This could be a sign of decline, a change, or an end. To judge the global economy’s future requires a comprehensive understanding of the history and current issues of globalization.

The emergence of globalization is debatable but the beginnings and evolution of global trade are definite. International trade has long existed as early as the 1st century BC when luxury goods from China first appeared in Rome. Though the Silk Road is not the start of globalization as the value of exports was relatively small and middlemen were involved in the exchange of goods, it had established global trade links between Europe and Asia. In the 7th-15th century, both religion and trade spread in the Arab world. Islamic merchants controlled Indian and Mediterranean trade and expanded too far east Indonesia. The main focus of trade is spices which remained a luxury product hence globalization did not happen but the spice sea route and silk road between the East and the West existed. The scientific revolution in the 15th century propelled a truly global trade when colonizers integrated new lands into their economies. Even though trade became more global, it does not represent a truly global economy as trade remained small compared to total GDP, global supply chains are limited to colonies (Vanham, 2019) and it is more exploitation than trade.

Given these facts, the global economy as we know it is not totally new as there an existing global trade flows and networks long before the term globalization emerged. Friedman (1999) argues that “what is new today is the degree and intensity with which the world is tangled together into a single global village, the huge number of people and countries able to participate in today’s global economy and information networks, and to be affected by them”. Developing countries, too, have been increasingly part of global trade (Brahm, 2002). Indeed, previous international trade has changed people’s lives, the way countries evolved and shaped the global economy, the same way globalization is changing the world today. The idea of irreversible globalization stands up in many ways (Mărginean, 2018). The only difference is that technological advancement and global trade institutions strengthened the extent of globalization.

The industrialization of western economies sparked modern globalization. Innovation in communication and transportation enhanced interconnectedness and intensive economic globalization as evidenced by an increase in trade, investment, and migration, and the spread of western culture in parts of Asia and Africa. There is also a greater level of institutionalization such as regulation of migratory flows, economic interactions governance by international financial institutions, and the emergence of international political institutions (Held et al., 1999). Trade slowed down and nationalist trade policies became popular. Although some argue that this indicates de-globalization, the story of globalization, however, was not over. The end of World War II marked a new wave of globalization (Vanham, 2019).

Contemporary globalization intensified cooperation on many levels with the unique combination of various forces characterized by unprecedented global flows, interactions, and networks in all social domains, regionalization, westernization, territoriality, democratic governance, and differentiated patterns of migration (Held et.al, 1999). Giddens (1999) & Dickens (1998) also perceived globalization as revolutionary: political, technological, cultural, and economic spheres are creating global shifts. Despite being integrated or globalized in many aspects, skeptics argue that globalization is exaggerated and that we do not have a fully global economy but an international economy that responds to it (Hirst, P. & Thompson, G., 1992). Data would show otherwise, the internet has changed the way people interact and do business, popular culture is on the rise, international NGOs blossomed and international governmental bodies such as WTO are making leaps.

Globalization they say is on steroids as global exports accelerate to about a quarter of the global GDP and trade rose to about half of the world GDP in 2000 (Vanham, 2019). Undeniably, globalization has opened up new and extensive opportunities for worldwide development; however, developing countries are lagging behind. The lack of technology and technical knowledge makes it difficult for some countries to compete in the global economy. Developed countries with strong governance and information and communication technologies certainly have a competitive advantage. Some contend that developed nations are the winners of globalization and even call globalization as a new form of imperialism. But why are they moving towards protectionism?

The anti-globalization sentiments are a result of inequality, immigration, and labor market issues. The Brexit and Trump elections are turning points in globalization. The 2008 global financial crisis and migration crisis have slowed down globalization and created a negative impact on developed economies (Mărginean, 2018). The rising unemployment, sectoral devastation in many traditional industries, and intensifying international competition inculcated fear in advanced economies (Gordon, 1994). The rise of China and the balance of power between East and West have also led to protectionist policies. However, to go against the currents of globalization is weak, if not pointless (Gordon, 1994). The collapse of communism is a testimony that protectionism is not the solution. Communist countries such as China rose by opening up to the global market and embracing free trade. To move in the opposite direction is a mistake, as globalization continues having survived global depression, world wars, and financial crises in the past.

The history of economic globalization clearly depicts transitions (new wave of globalization) and declines (de-globalization), but it never died (Mărginean, 2018). The globalization cycle of James (2009) clearly captures this scenario, wherein when something bad happens people blame too much interaction and withdraw from the global setting. The shock is often affiliated with financial collapse but the global economy evolved with it. Therefore, it will exist even if the USA leaves WTO, as much as, the EU will survive even without the UK. Whether we deem globalization as good or bad, reversible or not, new or old, the global economy, just like other life forms evolves. Now the world is entering a new kind of globalization with complex value chains, a digital economy, and a balance of power between the US and China (Vanham, 2019). The recessions are part of transitions, but it never ends.

Cuban Trade Embargo: Pros and Cons

Cuba: Research Paper

Cuba is the largest island in the Caribbean Sea and it lies at the mouth of the Gulf of Mexico. The Island of Cuba is known for its very diverse culture and beautiful beaches. Although Cuba has a very tropical climate, which makes it very hot most of the time, it would benefit anyone to wander down the Cuban streets and visit its many tourist attractions. Cuba has slowly found out who it is. It has evolved as a country to be self-sufficient and has developed its government.

Brief History:

Around the 1950s Cuba’s leader was a very unpopular dictator by the name of Fulgencio Batista. He was so unpopular that, “A resistance movement led by Fidel Castro and Che Guevara gained increasing support and power”(Kamrowski). About 9 years later, Fidel Castro came into power and did a lot to help Cuba out of past adversity. During the time of Castro’s regime, he killed or imprisoned many political opponents, which caused tensions to develop with the United States. Since Cuba was on the side of the Soviet Union, they depended on them for protection and also help. When the Soviet Union collapsed in 1989, Cuba faced many hardships but these hardships helped Cuba become more independent. From then on, Cuba has continued its advancement as a country.

In the last five years, Cuba has attained many human rights achievements. One of these achievements happened, “On December 17, 2014, [when] Presidents of Cuba and the United States, Raul Castro, and Barack Obama respectively, announced that they would work together to reestablish diplomatic relations”(Gómez). Later In 2017, Donald Trump decided to change the policy that Barack Obama made with Cuba.

“…Commerce Secretary Wilbur Ross said…‘The Trump Administration recognizes the threat Cuba’s government poses in the region, and the Commerce Department is acting to limit commercial activity that provides revenue for the Cuban regime. Holding other countries accountable remains a focus for this Administration and we will remain vigilant’”(“Commerce and Treasury Departments Implement Changes to Cuba Sanctions Rules”).

In short, Donald Trump has made a series of amendments, which were announced on April 17, 2019. These amendments will, “Continue to work to channel economic activities away from the Cuban military, intelligence, and security services”(“Commerce and Treasury Departments Implement Changes to Cuba Sanctions Rules”).

Political Structure:

Cuba is considered a socialist state, which means that it is, “…[Transitioning] between capitalism and communism and [is] distinguished by unequal distribution of goods and pay according to work done”(“Socialism”). The government of Cuba has 3 branches: the National Assembly of People’s Power, the Council of State, and the People’s Supreme Court. The first branch, the National Assembly of People’s Power, conforms to the supreme government (it’s similar to our legislative branch). The second branch, the Council of State, includes the President, Vice President, and Secretary (this branch is similar to our executive branch). The last branch of Cuba’s government, the People’s Supreme Court, “…[Organizes]…the State Council, criminal, civil, administrative, labor, crimes against the state, and military courts”(“The World Factbook: Cuba”) (the People’s Supreme Court is comparable to our judicial branch).

As of 2018, the President of Cuba will be the head of the National Assembly and the Council of State. Another change made to the government of Cuba in 2018 was, “The president…will be limited to a maximum of two consecutive five-year terms”(Whitefield).

United Nations Affairs:

Cuba has been involved in multiple United Nations affairs in the last few years. They have been trying to work out the many crises that have been transpiring and have been bringing them up at United Nations assemblies. One thing brought up by the United Nations on April 21, 2017, was the need for new laws and stronger litigations against human trafficking in Cuba. UN Special Rapporteur Maria Grazia Giammarinaro reported that “‘Although cases of trafficking in the country may appear to be limited, the number of criminal prosecutions and victims assisted is still too modest, and shows that a proactive approach to detection of the problem is needed’”(“Cuba Needs New Laws and Stronger Action Targeting Human Trafficking – UN Rights Expert”). Another topic that involved Cuba and the United Nations was the situation of freedom of expression and freedom of the press in Cuba. Around April 7, 2003, there was a, “…Wave of arrests in which at least 24 journalists and as many as 78 human rights activists [had] been jailed”(“UN Fears Press Freedom Violations Following Arrests, Trial of Cuban Journalists”). The United Nations felt they needed to address the problem with Cuba, urging that, “‘…Cuban authorities…[respect the] fundamental rights of journalists and other individuals arrested for speaking their mind’”(“UN Fears Press Freedom Violations Following Arrests, Trial of Cuban Journalists”). One other composition brought up by the United Nations was the embargo that the United States placed on Cuba that was still being enforced to that day. The United Nations, “Called upon States ‘that have and continue to apply such laws and measures to take the steps necessary to repeal or invalidate them as soon as possible’”(“UN General Assembly Renews Long-Standing Call for End to US Embargo against Cuba”). The reason for this call to action was what Cuba’s Foreign Minister Bruno Rodriguez Parrilla had to say about the embargo. Bruno Rodriguez Parilla presented that “‘Incalculable human damage [had] been caused by the blockade, which is qualified as an act of genocide’”(“UN General Assembly Renews Long-Standing Call for End to US Embargo against Cuba”).

Geography:

Cuba has a wide variety of geographical features, like beaches, mountains, forests, rivers, plains, and natural harbors. “It has more than six thousand kilometers of coasts, with more than 600 beaches”(“Geography of Cuba”). There are also three main massifs, which include “…Cordillera de Guaniguanico in the west, the Macizo de Guamuhaya in the center and the Sierra Maestra in the east”(“Geography of Cuba”). The rivers that reside in Cuba are short and generally have little flow, the main ones are Cauto, Zaza, and Sagua la Grande. Additionally, Cuba has an abundance of natural harbors including Havana, Cárdenas, Matanzas, Nuevitas, Santiago de Cuba, Cienfuegos, and Guantanamo, which is one of the most famous. In general, “Plains occupy 60 percent of the country’s area…25 percent of the territory is forested, mainly mangroves; 23 percent of the area has some degree of protection of its nature, highlighting its 14 national parks”(“Geography of Cuba”). The tropical climate of Cuba and its geography influences what type of weather occurs and what can be grown there. Two types of seasons occur in Cuba and they are the rainy season (May to October) and the dry season (November to April). This type of weather allows Cuba to grow sugarcane, and diverse crops and livestock.

Cultural Details:

Cuba has a very unique and diverse culture that is, “…Influenced heavily by Latin American, European, African, and indigenous American cultures”(Sen Nag). Most of the population in Cuba is either African or Spanish, but other ethnicities live there as well. After the Cuban Revolution, which started in 1953 and ended in 1959, women in Cuban society were started to be treated as men’s equals. There were, “…Several laws like the 1974 maternity law and the 1975 ‘Family Code’ [, which] were passed by the Cuban government to allow women to achieve equality with men in all respects”(Sen Nag). Since the country of Cuba values socialism, the people dissuade others from selfishness and individualism.

Later on in Cuba’s history, around 1992, “…An amendment was made to the country’s constitution that allowed complete religious freedom in the country. Currently, about 60% of the Cuban population is affiliated to Catholicism”(Sen Nag). Along with the practice of Catholicism, many Cubans also practice Santería, which is a mixture of African traditions and Christianity. Santería was brought by African slaves to Cuba by Europeans who wanted the Africans to work on plantations. These African slaves, “…Were often associated with witchcraft and magic and discriminated by the other religious groups in Cuba”(Sen Nag). Today, most of the black population of Cuba still practices Santería, so, “…Racist attitudes still exist around the religion”(Sen Nag).

Some holidays/festivals that are celebrated in Cuba are Christian festivals since it is the most dominant religion in Cuba, the Cuban Revolution holiday on January 1 and July 26, the Communist holiday of May Day, and another important holiday is Cuba’s revolt against Spain, which is celebrated on October 10.

At the height of Cuban culture are music and dance. Cuban music was heavily influenced by the large Spanish and African populations. “Some traditional music styles include mambo, cha-cha-cha, charanga, danzon, rumba, and a few others”(Sen Nag). Along with the Cuban’s love for music, there is a love for dance as well. Some popular forms of dance in Cuba are salsa and ballet.

The people of Cuba usually wear cool and relaxed clothing most of time, but when there is also traditional clothing that is worn for formal, and sometimes informal, occasions. The most famous traditional clothing is called Guayabera, which is made out of linen or cotton and is usually white with no embroidery. Men will generally wear this type of top with Panama hats and linen pants. There are also Guayabera dresses that are popular among women in Cuba. women might also wear a Rumba dress, which is very frilly, along with an African head wrap.

Like most of Cuba’s traditions, the cuisine was influenced by many different cultures, like Spanish, African, Caribbean, and all little Chinese. Most of the dishes included rice and beans-when rice is cooked with black beans it is called Arroz congri-and for the non-vegetarian dishes, chicken, beef, and pork are used. As of today, “…Due to the poor economic conditions prevalent in Cuba, large sections of the country’s population cannot afford lavish meals and often depend on food rations”(Sen Nag).

Hospitality & Tourism:

Traveling to Cuba and experiencing Cuban hospitality and tourism is no longer a pleasure because of the embargo that is placed on Cuba. Before the strict embargo, people were able to visit and learn all about Cuba for themselves. There are a number of many tourist destinations, but the most popular are Havana, Viñales, Cienfuegos, Trinidad, and Varadero. Havana is the capital of Cuba and it’s known to be a must-see tourist destination in Cuba. A visit to Havana should definitely include events, “…Such as the famous Havana Carnival, the International Ballet Festival…and the International Festival of New Latin America Cinema”(“HAVANA, CUBA”). Along with lively festivals, there is also an abundance of hotels and restaurants to visit as well. The next popular tourist site, Viñales, has a variety of activities: horseback riding in Viñales valley, visiting plantations, going to the beach, and visiting the Indios Cave. Another famous tourist destination is Cienfuegos and it’s known for its astonishing Botanical Garden and historic centers. A trip to Cuba wouldn’t be complete without a visit to Trinidad. You can behold fantastical sites such as the Plaza Mayor, Palacio Cantero (Museo Historico Municipal), Topes de Collantes Natural Park, and much more.

After the collapse of the Soviet Union, Cuba was left to fend for itself. They had a lot of economic problems and to solve this, they opened up their homes to tourists. Cuban people would, “…Offer visitors an authentic taste of Cuba, including a fresh breakfast made in an immaculate 1950s-era home kitchen and a chance to feel like part of the family”(Harlan). After the strict embargo placed on Cuba, these arrangements will change and relations won’t be the same as they used to be.

Conclusion:

Cuba has a very diverse culture and diverse population. It has magnificent beaches, forests, rivers, and harbors that make up the entire island. All of these wonderful descriptions are just the cover of Cuba. Right now Cuba is struggling economically because of the stern embargo that was placed on them by the United States. The embargo was a way for the United States to say they don’t agree with Cuba’s socialist government. Before the embargo, tourists were able to come to Cuba and visit the many beautiful sites, but now tourists won’t be able to vacation on the largest island in the Caribbean Sea. The main source of revenue for Cuba is tourism, so the economic situation will continue to become worse. With all that is happening today, we don’t know what the future will bring for Cuba.

Works Cited

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8. Harlan, Becky. “Cuban Hospitality Means Open Homes, Shared Kitchens.” National Geographic, National Geographic, 17 Feb. 2016, https://www.nationalgeographic.com/culture/food/the-plate/2016/02/17/cuban-hospitality-means-open-homes-shared-kitchens/. Accessed 27 October 2019.
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18. too, Kenneth. ‘List of Presidents Of Cuba Since 1909.’ World Atlas. WorldAtlas, Apr. 17, 2019, worldatlas.com/articles/presidents-of-Cuba-since-1909.html. Accessed 25 October 2019.
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Essay on Contemporaneous Trader

Using the study conducted for a period of 5 years from January 2005 to January 2010 (Tripathy, 2010) investigates the relationship between stock trade volume and volatility of stock returns. The objective of the study is achieved by utilizing financial tools such as ARCH, GARCH, EGARCH, TARCH, PGARCH, and Component ARCH models. The investigation demonstrates that the forecast of stock return volatility can be enhanced by the utilization of the current news regarding the volume of trade. Also (Tripathy, 2010) provides evidence that there is an existence of leverage and asymmetric effect of trading volume present in the stock market, and is established that negative news has more impact on the volatility of stock returns.

A huge positive relationship between stock return and volume of trade was found in the study conducted by (Attari, 2012) providing the fact that a rise in volume comes along with a rising market and applies the other way around as well. This statement portrays that the future return of stocks is heavily influenced by the information on volume traded. The study, (Attari, 2012) says that volume which is influenced by market data, prompts value changes and information that provide positive information like an increase in capital gain will lead to an increase in the trade volume, thus empowering a higher rate of transactions of the stock. Past information on stock price and trading volume can be used by the likes of speculators and hedgers to predict future patterns in stock prices and use the same for trading decisions, (Attari, 2012) state that there.

The Granger causality test used by (Nandan, 2016) and was applied to the data from 2008-09 to 2014-15 taken on a quarterly basis of the top ten companies in the National Stock Exchange to determine the relationship between stock returns, stock price volatility, and trade volume of the stock of the companies. There exists a bi-directional relationship between trading volume and stock returns i.e. both variables are found to reinforce each other as stated (Nandan, 2016). In another stock bi-directional relationship between stock return and volatility was established. It was also found in the study that two stocks showed a uni-directional relationship, meaning that the return influenced trading volume but trading volume did not impact return. It is implied (Nandan, 2016) that an indication of noise trading model of interaction is present between stock returns and trading volume.

The study (Iqbal, 2015) recommends that at the market level there is a sure contemporary relationship between returns and trade volume however for stocks the study proposes a positive contemporaneous relationship in two stocks and a negative contemporaneous relationship in three stocks among volume and returns. (Iqbal, 2015) Establishes that there is no bi-directional relationship between the two variables, volume, and returns which is supported by the evidence from the findings of the study that past volume does not cause returns but past returns do cause volume. Volume is not capable of removing the ARCH effect proposes (Iqbal, 2015) and also mentioned that a significant relationship is present between the volume of trade and stock volatility. Even by introducing trade volume as an advisory variable in the GARCH model, it is stated that the ARCH effect cannot be reduced and suggests the traders need not find the trade volume as a valuable informative variable.

Monthly data time series is used to study the relationship between stock returns and trading volume (Kant, 2011) for a period of nine years from January 2002 to December 2010 on a number of 347 stocks from the stock market with the help of descriptive statistics mean, median, maximum, minimum, standard deviation, skewness, kurtosis, jarque-bera, probability, sum, sum sq. deviation, and granger causality tests. The research shows that the two variables are dependent and so the information on one variable can be used to predict the patterns of the other variable. Using the granger causality method, (Kant, 2011) establishes that there is a co-integration between the variables thus indicating that there is a presence of a long-run relationship between the two. In the event that there is any linkage between both factors, the emergencies can be turned away either by overseeing trade volume or using indigenous policies to stabilize the stock market, states (Kant, 2011).

The contemporaneous and asymmetric relation between price and volume are examined for 50 Indian stocks by (Kumar, 2010). The dynamic relationship between the two variables is also examined in the study using various tools such as VAR, Granger causality, variance decomposition, and impulse response function. Evidence of a positive contemporaneous correlation between price changes and trading volume was found to be present in the Indian stock markets. The results provide evidence of the existence of a positive and asymmetric relationship between the two variables and the results from VAR and Granger causality establish a bi-directional relation between volume and returns, states (Kumar, 2010).

Essay about Fur Trade

The Era of the Fur Trade

The fur trade is a worldwide industry that deals in the sale of animal fur over the world to manufacture especially woolen hats and clothes. In the 1800s on the mainland north of the 49th parallel, the fur trade held until the gold rush to the Fraser river. The Europeans established their power in the Northern cordillera in the absence of a state as there were heavy conflicts regarding the territories. For approximately fifty years, the Europeans operated the fur trade beyond the rules and control of the state.

Cole Harris has argued that the European fur traders entered the country with weapons and technology, an ideology of language and power. David Thompson encountered that he traded and explored the upper Columbia for two reasons. First, because of the assistance from aboriginals such as lending horses and canoes; Supplying dried salmon, berries, and venison, and geographic information. Due to the absence of an efficient law, an act of 1803 that dealt with the crimes and punishments in Indian territories was implemented in the upper and lower canada. The British government advised the officers of Hudson’s bay company to maintain peace in the parts of North America under the jurisdictions of the Hudson’s Bay Company.

The intention of the Europeans’

The discourse of commercial capitalism turned around management order and property. The first problem for European fur traders in the northern cordillera was to create familiar, friendly spaces for themselves. For this, they conquered vast hectares of land by constructing forts for security, but they didn’t control the territories where hostile people were inhabited as they were an important part of trade and communication. After the building of fort Langley, the chief trader could consider a ‘war of examination’ against a large native village nearby because he was confident that a few men could hold the fort against a general uprising of numerous, ‘brutally disposed of’ natives. On the other hand, a fire that destroyed a building at fort George reminded traders of their vulnerability; The place was not fit to resist anything but savages. But that was its purpose, and for that purpose it served. Under the protection of such forts, traders established farms where soils and climate permitted. Though they have said that these were for the upliftment of native people, they did it only for the sake of Europeans. Inside the palisades, the number and arrangement of buildings, the number and arrangement of buildings, depending on the size of the fort, The forts were the source of power for the fur trade.

The life of Salish people

It is so evident that the Salish wanted European manufactured goods to better protect, feed, and clothe themselves and they were in charge of providing safe access to fur traders and security to get access to those goods. Though the armed brigades and the capability to interdict the use of ammunition helped European to gain power over the territories; In the upper Columbia, it was clearly in the hands of Salish tribes who were capable of wars and raiding as well as for defending their territory or retaining their access to resources. The Blackfeet were the common enemy of the upper Columbia tribes for many years. Salish nations inhabit the upper Columbia River and middle Fraser river regions of the cordillera and they are separated from the coastal region by the cascade and coast mountains through which the Columbia and Fraser rivers flow on their way to the sea. They all were spoken languages of the same family, traded with one another, intermarried, and aided their neighbors in war or times of need.

George Simpson’s retrenchment strategy

It included negotiating an agreement with native peoples on whose land the HBC maintained a post on his trip up the Columbia river in April 1825, he attempted to establish the conditions of the relationship with the Salish tribes and his accounts of these meetings are instructive. Simpson also requested permission to buy fish at kettle falls, but the salmon chief denied it by saying that they were necessary to Salish people. The HBC could use the forests and fields for food production and buy fish by selling the food products. Two years later the company policy repeated when Simpson was given instructions to “secure the Indians on our side” by conciliating and kind treatment. In 1838 James Douglas also wrote of attaching the First Nations to the HBC by kind and liberal treatment. Definitely, competition with the united states for Oregon country was an element of the HBC’s attempts to secure aboriginal friendship and protection.

Conclusions

Things all changed when the fur trade was closed as aboriginal peoples faced so many challenges which all put their life in agony. The population decreased tremendously, the resources they used for survival depleted, and there emerged new beliefs, Oppressive colonial policies were implemented in the territory.

1. Cole Harris, “The intention of the Europeans”, “Strategies of power in the Cordilleran Fur trade”, in The Resettlement of British Columbia: (Vancouver; UBC press, 2000), 9.
2. Duane Thomson and Marianne Ignace, “The life of Salish people”, “They made themselves our Guest”, 3.
3. George Simpson’s Retrenchment strategy, 10.

People Face Trade-offs: Essay

People face tradeoffs; where having more of one thing results in having less of another

The tradeoff of a family wanting to buy a new car is anything that this decision results in reducing. For example, the amount of money spent on everyday things such as food, drinks, clothes, and accessories. It also makes the family limit spending on trips in holidays. The time the family spends limiting depends on which car they’re buying and how expensive it is.

The member of congress decides how much to spend on national parts. The tradeoffs are other important national. Expenses that might help the government such as research and development, national defense, army training, healthcare, and social security.

For a company president to decide whether to open a new factory. The tradeoff of this depends on the revenue and expenses. For example, if the expense of this procedure including salaries, equipment, utilities, etc. will cost 100000. Assume the revenue of the sales will sum up to 120000. The company is gaining a profit of 20000 the tradeoff is the expense is the expenses spent in order to open the factory and whether or not he should open it depends on the net profit or net loss assumed.

One tradeoff of how a professor prepares for the class is the quality of the lecture and how useful the information he delivers is.

Another tradeoff is the professor’s time spent preparing for class. The more time he spends preparing the less time he will have for themselves and or their personal life and activities such as time spent with family.

The tradeoff of this decision is limiting the knowledge you have as well as your income in the future. Also, spending time studying causes less time to have fun with your friends and if you are studying abroad the tradeoff is less time with your family.