The contradictions of the Asian Monetary Fund

Focuses on the issue of an Asian Monetary Fund (AMF). At the time of its launch in March 2010, the Chiang Mai Initiative Multilateralisation (CMIM) was widely reported, particularly in Asia, as heralding the establishment of an AMF that would provide both an independent alternative to the IMF and distance from the influence of the USA. However, while the CMIM may well be a major step towards the establishment of such an AMF, as presently constituted it is neither separate from the IMF nor fully functional

The Liberalisation of Foreign Ownership and Cross-border M&A in South East Asia since the 1997 Financial Crisis

Since 1997 there has been significant liberalisation of foreign ownership regulations in most of the South East Asian economies. This has been associated with some major increases in the level of cross-border Mergers & Aquisitions (M&A). However, the 1997-2001 surge in cross-border M&A activity has to be seen in the context not only of liberalisation, but also of the short-term availability of distressed assets, the lowering of production costs and the final phases of a global FDI boom which had been increasingly driven by M&A. Similarly, the sharp decline in South East Asian cross-border M&A since 2002 can be explained in terms of the acquisition of the most easily purchased attractive assets and the sharp decline in global M&A activity. However, it is argued that post-1997 liberalisation left in place significant barriers to increased foreign ownership and operation in all the South East Asian economies. In addition to continuing direct restrictions on foreign ownership, a wide range of other regulations inhibit cross-border M&A – notably those effecting bankruptcy, M&A procedures and financial reporting. Perhaps more significant are the limitations on foreign ownership and operation that result from ownership patterns, forms of corporate governance, established business practices and the operation of the bureaucratic, judicial and political systems.Seit der Finanzkrise 1997 hat es in den meisten Ökonomien Südostasiens eine beträchtliche Liberalisierung bei ausländischen Beteiligungen gegeben. Dies ging einher mit einem signifikanten Anstieg der grenzüberschreitenden Fusionen und Übernahmen. Die Welle der Fusionen und Übernahmen muss im Zusammenhang mit der Liberalisierung gesehen werden. Sie hängt auch mit der kurzfristigen Verfügbarkeit von gefallenem Anlagevermögen, der Verringerung von Produktionskosten und der letzten Phase des Booms bei ausländischen Direktinvestitionen zusammen. Gleichzeitig kann der starke Rückgang von grenzüberschreitenden Fusionen und Übernahmen durch den Kauf attraktiver Anteile und den Rückgang globaler Tätigkeiten bei Fusionen und Übernahmen erklärt werden. Die These lautet hier, dass auch nach der Finanzkrise 1997 einige wichtige Barrieren für ausländische Beteiligungen und Produktion bestehen. Neben der Beschränkung ausländischen Privateigentums gibt es eine Vielzahl von Verordnungen, die Fusionen und Übernahmen hemmen, insbesondere Bestimmungen zur Insolvenz, zu Zusammenschlüssen und Übernahmen und zum Berichtwesen. Weitaus bedeutender sind jedoch Beschränkungen bei ausländischen Beteiligungen, Formen der Unternehmensführung, in der Region übliche Geschäftspraktiken und die Funktionsweise des Verwaltungs-, Rechts- und des politischen Systems

Japan After an ‘Export Bubble’

Recent economic indicators of the performance of the Japanese economy have been weak and prognosis negative. In December Japanese industrial output contracted by 10%. In January this trend intensified. Moreover Toyota has announced 7,000 job losses and Honda a four month closure of their UK plant. Other labour market indicators and consumption related data suggest that the negative shock in the manufacturing sector is spreading gradually to the household sector. Paul Krugman has suggested that the Japanese economy is in ‘free fall’ as is world trade. This view can be linked to those who accuse Japan of relying on exports for growth and contributing to international imbalances that lie at the heart of the current financial crisis

BGS Library : a world of information

Over the last 175 years the British Geological Survey Library has grown and developed into one of the world's major earth science libraries. We have extensive collections of books, maps, journals and BGS publications. We also hold special collections of British geological photographs and archive material, chiefly the historical archives of the BGS. Published material is acquired by exchange with overseas surveys and institutes as well as by purchase. In the past our collections have been enhanced by the incorporation of other collections such as the extensive holdings of the former Overseas Geological Surveys

Jim Crow downunder? African American encounters with white Australia, 1942-1945

Between 1941 and 1945, as the U.S. military machine sent millions of Americans--and American culture--around the world, several thousand African Americans spent time in Australia. Armed with little knowledge of Australian racial values and practices, black Americans encoutered a nation whose long-standing commitment to the principle of "White Australia" appeared to rest comfortably with the segregative policies commonly associated with the American South. Nonetheless, while African American

Uncompensated Care and Quality Assurance Among Rural Hospitals

Health care disparities in rural areas remain significant in the U.S. health care industry. Uncompensated care makes health care disparities in rural areas worse, and rural hospitals are unfavorably positioned to compete with urban hospitals in the economic-downturn marketplace. How uncompensated care affects quality care among rural hospitals has been lightly investigated. Given that many rural residents experience difficulty accessing high quality care and given the importance of establishing quality care practice standards in a rural setting, we conducted a systematic literature review to identify some quality-care barriers and opportunities and suggested strategies to strengthen the position of rural hospitals in response to uncompensated care

A weird but interesting journey: Personal traumatic growth for individuals with hallucinations

Objectives: Hallucinations can be traumatic. However, research into 'post-traumatic growth' in relation to hallucinations is scarce. This study aims to further our understanding of personal growth in the context of hallucinations. Design: A phenomenological qualitative approach was used to explore experiences of personal growth with hallucinations, adopting Interpretative Phenomenological Analysis (IPA) methodology. Methods: Semi-structured interviews were conducted with seven people who experience hallucinations. Participants were asked about experiences of personal growth, their expectations of individual transformation, and facilitating and hindering factors in the attainment of personal growth. Transcripts were analysed ensuring suitable saturation and representation of the data was achieved. Results: One overall theme (A journey towards personal growth) and five subthemes were identified: A difficult journey taken day by day, Stigma, Acceptance, Finding the right support, and Personal growth. Conclusions: Findings supported personal growth in the context of hallucinations and highlighted facilitators and barriers. Practitioner points • There is scarce literature supporting the development of personal growth with hallucinatory experiences and it is empirically limited. The present research provides greater information into the phenomenon to inform service provision. • The importance of acceptance and maintaining hope for change was highlighted. • Services and the use of coping strategies were both identified as facilitative and hindering of personal growth. • This research provides a necessary alternative to the often negative literature; challenging societal perceptions and helping promote much needed hope in clinicians, the public and individuals experiencing hallucinations

Is uncompensated care affecting quality assurance of rural hospitals?

Healthcare disparities in rural areas remain significant in the U.S. healthcare industry. Uncompensated care makes healthcare disparities in rural areas worse and rural hospitals are unfavorably positioned to compete with urban hospitals in the economic downturn marketplace. How uncompensated care affects quality care among rural hospitals has been lightly investigated. As many rural residents experience difficulty accessing high quality care and the importance of establishing quality care practice standards in a rural setting, we conducted a systematic literature review to identify some quality care barriers and opportunities, suggested strategies to strengthen the position of rural hospitals in response to uncompensated care