'Parasitic invasions' or sources of good governance: constraining foreign competition in Hong Kong banking, 1956-81

This paper investigates the operation and impact of the moratorium on new banking licences imposed in Hong Kong in 1965 and the claims that foreign banks destabilised the banking system and drained resources from the colony. First it examines foreign banks' attempts to circumvent the moratorium through claims of special circumstances and buying interests in local banks, and secondly it examines the efforts of incumbents to extend barriers to non-bank financial institutions and to branches of foreign banks. The general conclusions are that while the moratorium was aimed at increasing the stability of the banking system, it had the effect of decreasing the regulatory breadth of the government, and reducing incentives for mergers and acquisitions that might have improved governance

Trying to define Free Will : a cognitive and fonctional model proposal

The debate about Free Will has been in the human mind for centuries, but has become even more intense with the recent scientific findings adding new lights on the problem. This interdisciplinary explosion of interest for the topic has brought many insightful knowledge, but also a great deal of epistemological problems. We think that those epistemological problems are deeply related to the very definition of Free Will and how this definition interacts with the interpretations of experimental results. We will thus outline a few of these problems and then propose a definition of Free Will which takes into account those epistemological pitfalls

KLUM: An urban VNIR and SWIR spectral library consisting of building materials

Knowledge about the existing materials in urban areas has, in recent times, increased in importance. With the use of imaging spectroscopy and hyperspectral remote sensing techniques, it is possible to measure and collect the spectra of urban materials. Most spectral libraries consist of either spectra acquired indoors in a controlled lab environment or of spectra from afar using airborne systems accompanied with in situ measurements. Furthermore, most publicly available spectral libraries have, so far, not focused on facade materials but on roofing materials, roads, and pavements. In this study, we present an urban spectral library consisting of collected in situ material spectra with imaging spectroscopy techniques in the visible and near-infrared (VNIR) and short-wave infrared (SWIR) spectral range, with particular focus on facade materials and material variation. The spectral library consists of building materials, such as facade and roofing materials, in addition to surrounding ground material, but with a focus on facades. This novelty is beneficial to the community as there is a shift to oblique-viewed Unmanned Aerial Vehicle (UAV)-based remote sensing and thus, there is a need for new types of spectral libraries. The post-processing consists partly of an intra-set solar irradiance correction and recalculation of reference spectra caused by signal clipping. Furthermore, the clustering of the acquired spectra was performed and evaluated using spectral measures, including Spectral Angle and a modified Spectral Gradient Angle. To confirm and compare the material classes, we used samples from publicly available spectral libraries. The final material classification scheme is based on a hierarchy with subclasses, which enables a spectral library with a larger material variation and offers the possibility to perform a more refined material analysis. The analysis reveals that the color and the surface structure, texture or coating of a material plays a significantly larger role than what has been presented so far. The samples and their corresponding detailed metadata can be found in the Karlsruhe Library of Urban Materials (KLUM) archiv

Optimization of quasi-normal eigenvalues for Krein-Nudelman strings

The paper is devoted to optimization of resonances for Krein strings with total mass and statical moment constraints. The problem is to design for a given $\alpha \in \R$ a string that has a resonance on the line \alpha + \i \R with a minimal possible modulus of the imaginary part. We find optimal resonances and strings explicitly.Comment: 9 pages, these results were extracted in a slightly modified form from the earlier e-print arXiv:1103.4117 [math.SP] following an advise of a journal's refere

Xylem surfactants introduce a new element to the cohesion-tension theory

Vascular plants transport water under negative pressure without constantly creating gas bubbles that would disable their hydraulic systems. Attempts to replicate this feat in artificial systems almost invariably result in bubble formation, except under highly controlled conditions with pure water and only hydrophilic surfaces present. In theory, conditions in the xylem should favor bubble nucleation even more: there are millions of conduits with at least some hydrophobic surfaces, and xylem sap is saturated or sometimes supersaturated with atmospheric gas and may contain surface-active molecules that can lower surface tension. So how do plants transport water under negative pressure? Here, we show that angiosperm xylem contains abundant hydrophobic surfaces as well as insoluble lipid surfactants, including phospholipids, and proteins, a composition similar to pulmonary surfactants. Lipid surfactants were found in xylem sap and as nanoparticles under transmission electron microscopy in pores of intervessel pit membranes and deposited on vessel wall surfaces. Nanoparticles observed in xylem sap via nanoparticle-tracking analysis included surfactant-coated nanobubbles when examined by freeze-fracture electron microscopy. Based on their fracture behavior, this technique is able to distinguish between dense-core particles, liquid-filled, bilayer-coated vesicles/liposomes, and gas-filled bubbles. Xylem surfactants showed strong surface activity that reduces surface tension to low values when concentrated as they are in pit membrane pores. We hypothesize that xylem surfactants support water transport under negative pressure as explained by the cohesion-tension theory by coating hydrophobic surfaces and nanobubbles, thereby keeping the latter below the critical size at which bubbles would expand to form embolisms

Renminbi Internationalisation: Precedents and Implications

While it is commonly assumed that there are no known precedents against which to benchmark the internationalisation of the Renminbi (RMB), this paper argues that the PRCs own development experience provides a useful perspective on the internationalisation debate. In particular it indicates that lessons can be learnt from both the successes and the shortcomings of efforts to internationalise the RMB in the 1970s. During this period state-owned banks in Hong Kong played a central role in mobilising finance for foreign trade. Access to Hong Kong’s developed financial institutions allowed the PRC to maximise receipts from foreign trade as well as minimise the risks of undue swings in capital flows. The paper shows that although China no longer faces foreign exchange scarcity, economic reforms have not yet resolved vulnerabilities in China’s financial institutions and as such Hong Kong’s role in mitigating the risk of undue capital swings remains

Attosecond control of electrons emitted from a nanoscale metal tip

Attosecond science is based on steering of electrons with the electric field of well-controlled femtosecond laser pulses. It has led to, for example, the generation of XUV light pulses with a duration in the sub-100-attosecond regime, to the measurement of intra-molecular dynamics by diffraction of an electron taken from the molecule under scrutiny, and to novel ultrafast electron holography. All these effects have been observed with atoms or molecules in the gas phase. Although predicted to occur, a strong light-phase sensitivity of electrons liberated by few-cycle laser pulses from solids has hitherto been elusive. Here we show a carrier-envelope (C-E) phase-dependent current modulation of up to 100% recorded in spectra of electrons laser-emitted from a nanometric tungsten tip. Controlled by the C-E phase, electrons originate from either one or two sub-500as long instances within the 6-fs laser pulse, leading to the presence or absence of spectral interference. We also show that coherent elastic re-scattering of liberated electrons takes place at the metal surface. Due to field enhancement at the tip, a simple laser oscillator suffices to reach the required peak electric field strengths, allowing attosecond science experiments to be performed at the 100-Megahertz repetition rate level and rendering complex amplified laser systems dispensable. Practically, this work represents a simple, exquisitely sensitive C-E phase sensor device, which can be shrunk in volume down to ~ 1cm3. The results indicate that the above-mentioned novel attosecond science techniques developed with and for atoms and molecules can also be employed with solids. In particular, we foresee sub-femtosecond (sub-) nanometre probing of (collective) electron dynamics, such as plasmon polaritons, in solid-state systems ranging in size from mesoscopic solids via clusters to single protruding atoms.Comment: Final manuscript version submitted to Natur

Inhibition of purple acid phosphatase with a-alkoxynaphthylmethylphosphonic acids

Purple acid phosphatases (PAPs) are binuclear hydrolases that catalyse the hydrolysis of a range of phosphorylated substrates. Human PAP is a major histochemical marker for the diagnosis of osteoporosis. In patients suffering from this disorder, PAP activity contributes to increased bone resorption and, therefore, human PAP is a key target for the development of anti-osteoporotic drugs. This manuscript describes the design and synthesis of derivatives of 1-naphthylmethylphosphonic acids as inhibitors of PAP. The Ki values of these compounds are as low as 4 lM, the lowest reported to date for a PAP inhibitor

Registering imagery to ICESat data for measuring elevation changes on Byrd Glacier, Antarctica

This is the published version, also available here: http://dx.doi.org/10.1029/2005GL024328.We present a new approach to derive control information from ICESat data that enables rigorous registration of aerial and satellite imagery. The technique, based on matching terrain features identified from ICESat measurements and aerial imagery, opens the door to transform results of previous studies to a global reference frame. We demonstrate the proposed methodology with historical aerial photographs to determine surface changes between 1979 and 2004 over Byrd Glacier. This is important because there is no satellite radar altimetry coverage south of 81.5° S, which limits mass balance knowledge of outlet glaciers draining the East Antarctic ice sheet through the southern Transantarctic Mountains. Our study indicates that the grounded part of Byrd Glacier is close to being in balance. However, we observe large thinning on the floating part of the glacier, probably induced by increased basal melting

Topological modes bound to dislocations in mechanical metamaterials

Mechanical metamaterials are artificial structures with unusual properties, such as negative Poisson ratio, bistability or tunable vibrational properties, that originate in the geometry of their unit cell. At the heart of such unusual behaviour is often a soft mode: a motion that does not significantly stretch or compress the links between constituent elements. When activated by motors or external fields, soft modes become the building blocks of robots and smart materials. Here, we demonstrate the existence of topological soft modes that can be positioned at desired locations in a metamaterial while being robust against a wide range of structural deformations or changes in material parameters. These protected modes, localized at dislocations, are the mechanical analogue of topological states bound to defects in electronic systems. We create physical realizations of the topological modes in prototypes of kagome lattices built out of rigid triangular plates. We show mathematically that they originate from the interplay between two Berry phases: the Burgers vector of the dislocation and the topological polarization of the lattice. Our work paves the way towards engineering topologically protected nano-mechanical structures for molecular robotics or information storage and read-out.Comment: 13 pages, 6 figures; changes to text and figures and added analysis on mode localization; see http://www.lorentz.leidenuniv.nl/~paulose/dislocation-modes/ for accompanying video