The Relationship between China and Vietnam in 1979

Table of Contents Introduction Sino-Vietnam War in 1979 Causes of the Sino-Vietnam War Vietnam’s Inversion of Cambodia The Continued USSR’s Support to Vietnam Conclusion Works Cited Introduction Vietnam had been a close ally of the People’s Republic of China in the 1960s and early 1970s. Due to their cordial relationship, Vietnam always received both financial and material support from China during its time of need (Womuck 67).Advertising We will write a custom research paper sample on The Relationship between China and Vietnam in 1979 specifically for you for only $16.05 $11/page Learn More For example, during Vietnam’s conflicts with its foes such as the US, China sent its troops to Vietnam to assist with the war. However, the relationship between the two countries later deteriorated in late 1970s (Womuck 72). In 1979, the relationship between the two countries degenerated into a war that greatly affected the financial s tability and military strength of both countries. The deterioration of the relationship between China and Vietnam is partly attributed to Vietnam’s failure to show gratitude for Chinese assistant. The collapse of the bilateral relationship between China and USSR also contributed to the strained relationship between China and Vietnam in 1979 (Feng 78). This paper analyzes the 1979 relationship between China and Vietnam as well as the cause of the strained relationship. Sino-Vietnam War in 1979 Prior to the 1979 war between China and Vietnam, the two countries had a positive relationship (Feng 79). They cooperated in many ways including military support in time of need. Following the violation of the principles that formed the basis of the cordial relationship between the two countries, their association or friendship began to decline in 1975. China particularly felt that Vietnam had failed to reciprocate in their friendship and thus it needed to revenge (Institute of Southeast Asian Studies 321). External factors such as the collapse in the bilateral relationship between China and the Soviet Union also contributed to the conflict between China and Vietnam. The conflict culminated in a war between the two countries in 1979. The Sino-Vietnam war lasted for about three weeks and was characterized by severe casualties on both sides (DeRouen 57). Each country lost several troops and civilians. Several factors led to the Sino-Vietnam war and this can be explained as follows. Causes of the Sino-Vietnam War One of the main reasons that led to the conflict or war between China and Vietnam in 1979 was the manner in which the Vietnamese authorities treated the Chinese ethnic minority that lived within Vietnamese territory (Institute of Southeast Asian Studies 325). The Chinese ethnic minority in Vietnam were not entitled to equal treatment as other Vietnamese citizens. They were considered outsiders and thus did not deserve to live in the country under the same con ditions as the Vietnamese citizens. In 1978, the Vietnamese authorities forced the Chinese ethnic minorities to move back to their country (Zhang 856). China was particularly angered by Vietnam’s decision to repatriate the Chinese. China considered Vietnam’s move an act of betrayal and decided to explore alternative ways to ravage against Vietnam (Zhang 857). Consequently, China stopped to assist Vietnam through financial and military support.Advertising Looking for research paper on asian? Let's see if we can help you! Get your first paper with 15% OFF Learn More The withdrawal of Chinese support forced Vietnam to explore alternative options of getting support during its time of need. This led to the signing of a â€Å"cooperation and friendship pact† (Institute of Southeast Asian Studies 326) between Hanoi and Moscow. The cooperation between Vietnam and the USSR only served to increase the tension between China and Vietnam. In the countdown to th e 1979 war, Vietnam and the Soviet Union signed a mutual defense treaty in November 1978 (Elleman). It is the signing of this pact that made Vietnam the target of military action by China. The Chinese authority felt that the pact was actually aimed at limiting their military strength and influence in the region. Besides, the relationship between China and the Soviet Union was at the verge of collapse thus it was not in the interest of China to watch two of its foes unite (Elleman). One of the indications that the Vietnam-Soviet pact was aimed at China can be traced to its sixth clause. The cause stated that â€Å"Vietnam and the USSR would immediately consult each other either if attacked or threatened with attack† (Feng 76). The aim of the consultations was to eliminate the threat of attack. The protocols of the treaty also allowed the USSR military to access or use the airfields and ports owned by Vietnam. In Chinese authorities’ view, the Soviet Union appeared to ha ve succeeded in surrounding China diplomatically by signing the pact with Vietnam (Institute of Southeast Asian Studies 327). Thus the Chinese authorities believed that the only way to stop the insurgence of the Soviet Union was to break the treaty between it and Vietnam. In order to achieve this objective, China had to attack Vietnam in February 1979 (Institute of Southeast Asian Studies 328). Vietnam on its part claimed that it opted to form an alliance with the Soviet Union in order to avert Chinese adventurist acts. However, Beijing did not believe in Vietnam’s claim in regard to their pact with USSR. They instead interpreted the treaty as a strategy used by the Soviet Union to pressurize them to reconsider their stance on the 1950 Sino-Soviet Treaty (Womuck 87). This means that the Soviet Union intended to use its treaty with Vietnam to force China to renew the 1950 Sino-Soviet treaty which was characterized by inequality. It was apparent that if the Soviet managed to es tablish a foothold in Southern Asia by forming an alliance with Vietnam, it would be in a position to flank China on its southern and northern borders. Such a move would enable the Soviet Union to have power over China by weakening their military ability (DeRouen 62).Advertising We will write a custom research paper sample on The Relationship between China and Vietnam in 1979 specifically for you for only $16.05 $11/page Learn More According to the Chinese authorities, the Soviet Union would use their military strength to force China to either renew or renegotiate the terms and conditions that formed the basis of the 1950 Sino-Soviet treaty. Beijing was however, determined to terminate its relationship with the Soviet Union especially under the 1950 Sino-Soviet treaty. Renmin Ribco’s warning that the Soviet was using Vietnam against China after â€Å"trying and failing to use Cuba to exert diplomatic pressure against the United States† (Wo muck 88) is one of the indications of China’s deep concern over the Soviet-Vietnam treaty. Renmin’s view was further reinforced by Beijing’s claim that Moscow’s eventual goal was to have the entire Indochina in its control. This means that successful implementation of Soviet Union’s policies in Vietnam would enable the Soviet government to establish strategic diplomatic success as well as military power over China. Thus China was highly concerned about the Soviet-Vietnam treaty since its success would pose a great threat to its national security and sovereignty in the subsequent months. With the signing of the Soviet-Vietnam treaty, the relationship between China and Vietnam worsened day by day (Institute of Southeast Asian Studies 329). China having realized the danger posed by the treaty, had to move quickly and find a way of weakening the relationship between USSR and Vietnam. Part of China’s strategic move was to form an alliance with it s former enemies in order to boost its military strength as well as the chances of obtaining any material or financial need at the time of its need. Consequently, China officially formed an alliance with the United States in 1979 (DeRouen 63). The signing of the Sino-American alliance in 1979 had two implications. First, it worsened the relationship between China, Vietnam and the Soviet Union. This is because the United States was a common foe of both Vietnam and the USSR. Thus its alliance with China was not in the interest of both Vietnam and the USSR (DeRouen 64). Second, the Soviet Union just like China became concerned over its security in the future following the signing of the Sino-America alliance. Of great concern to the Soviet Union was the possibility of facing a two front war. This means that the chances of the USSR being attacked simultaneously by the America-led NATO troops from the west and Chinese troops from the east increased (Institute of Southeast Asian Studies 3 31). In the event of such attack, the Soviet Union could have easily collapsed since it would not be able to stand the joint military action from the two countries.Advertising Looking for research paper on asian? Let's see if we can help you! Get your first paper with 15% OFF Learn More Vietnam’s Inversion of Cambodia As a response to the Sino-America alliance, the Soviet Union increased its support for Vietnam in regard to its (Vietnam) attack on Cambodia (Zhang 860). Cambodia under the Khmer Rouge’s regime was a close ally of China. The Chinese backed the Khmer Rouge administration thus Vietnam having parted ways with China was uncomfortable with Cambodia (Zhang 861). It was therefore in the interest of both Vietnam and the Soviet Union to attack Cambodia. Their intention was to weaken China’s influence in the region. Besides, Vietnam’s victory in the war with Cambodia would mean that China was weak and was not able to defend its allies. In order to demonstrate its military ability, China had to intervene in the conflict between Vietnam and Cambodia by attacking Vietnam (Zhang 862). However, China could not attack Vietnam directly in regard to the war in Cambodia. Consequently, border conflicts that had not been settled between China a nd Vietnam resurfaced. This means that the inversion of the Chinese military in the â€Å"disputed Sino-Vietnamese territory† (Institute of Southeast Asian Studies 335) was an indirect strategy of weakening Vietnamese military in order to stop their encroachment in Cambodia. These trends indicate that the border war between China and Vietnam was not just because of Vietnam’s attack on Cambodia. The power struggle between China and the USSR also played an important role. This is because the USSR’s support to Vietnam was aimed at defeating Cambodia which was a close ally of China (Feng 91). On the other hand, China focused on weakening Vietnamese military power in order to protect Cambodia. Consequently, the conflict between Vietnam and Cambodia was widely viewed as a proxy war between China and the USSR. Each country wanted to demonstrate to the other its ability to protect its ally. The Continued USSR’s Support to Vietnam As was discussed earlier, the Sov iet-Vietnamese treaty meant that the Soviet and Vietnam would support each other in the event of a war. China on its part did not perceive any threat from Vietnam on its own. This is because Vietnam was relatively small both in terms of population size and its military strength (Womuck 113). However, China became weary of Vietnam’s threat following continued support from the Soviet Union. The Soviet government had supplied Vietnam with a lot of military equipment which included munitions, aircrafts, tanks and missiles. Besides, the Soviet government had sent â€Å"between 5000 to 8000 advisers to Vietnam† (Institute of Southeast Asian Studies 337) to assist with planning for military action against its enemies. The USSR initially thought that supporting Vietnam with military equipment will deter China from attacking it. However, the USSR’s hopes were dashed since China eventually attacked Vietnam in 1979. Some scholars argue that the attack could not have taken place if the USSR did not send so many advisors to Vietnam (Institute of Southeast Asian Studies 337). This attack was particularly significant since it put the relationship between Vietnam and the Soviet Union in test. According to the Soviet-Vietnam treaty, the USSR was expected to send its troops to Vietnam and help them defeat China. However, this was not possible due to logistics reasons. Due to the large distance between USSR and Vietnam, the former could not have easily intervened during the war. The only practical option was to intervene through China or other allies of United States which was not possible due to the strained relationships between USSR and China as well as US (DeRouen 94). When the USSR failed to support Vietnam during the war, China claimed victory for having managed to destroy the treaty between Vietnam and the Soviet Union. China demonstrated to Vietnam that it could not be protected by its ally, the Soviet Union. The Soviet-Vietnam treaty had thus failed due to USSR’s inability to support Vietnam. The end of the war between China and Vietnam in 1979 did not help in settling their differences. The two countries continued to have a strained relationship in 1979. For instance, the conflict over the Sino-Vietnam common border remained unresolved (DeRouen 115). The mistrust between the two countries worsened and this reduced the chances of improving the relationship between China and Vietnam. Conclusion The above discussion indicates that China and Vietnam had strained relationship in 1979. China and Vietnam enjoyed cordial relationships in the 1960s and early 1970s. The deterioration of the relationship between China and Vietnam degenerated into a war in 1979. Both countries lost thousands of troops and civilians. The main causes of the war and weak relationship between China and Vietnam included the following. First, China wanted to punish Vietnam for failing to reciprocate in their relationship (Institute of Southeast Asian St udies 324). Vietnam repatriated Chinese ethnic minority within its territory and this angered China. Second, the border conflicts between the two countries led to the 1979 war. Finally, the alliance between Vietnam and the Soviet Union was a security threat to China (Institute of Southeast Asian Studies 324). Thus China went to war with Vietnam in order to destroy the Soviet-Vietnam treaty. These factors did not just cause the war but were also the main contributors to the strained relationship between China and Vietnam in 1979. Works Cited DeRouen, Karl. Defense and security. New York: ABC-CLIO, 2005. Print. Elleman, Bruce. â€Å"Sino-Soviet Relations and the February 1979 Sino-Vietnam conflict. Vietnamedu.com. 20 April 1996. Web. Feng, Huiyan. Chinese startegic cultural and foreign policy decision-making. New York: Routledge , 2007. Print. Institute of Southeast Asian Studies. â€Å"Assessing Sino-Vietnamese relations through the management of contentious issues.† Journal of International and Strategic Affairs 6 (2004): 320-745. Womuck, Drantly. China and Vietnam . London: Cambridge University Press , 2006. Print. Zhang, Xiaoming. â€Å"China’s 1979 war with Vietnam.† China Quarterly 7 (2005): 852-896. This research paper on The Relationship between China and Vietnam in 1979 was written and submitted by user Grace U. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Problem of Class Identity in the Society

The Problem of Class Identity in the Society Class Identity Many scholars have paid a lot of attention to class identity recently. Apparently, class identity plays a very important role in every individual’s life. It considerably shapes people’s behavior. Admittedly, people pertaining to different classes differ in their habits, preferences and opportunities.Advertising We will write a custom essay sample on The Problem of Class Identity in the Society specifically for you for only $16.05 $11/page Learn More Thus, class can shape (and does shape) the way people eat, speak, etc. Of course, class is a less apparent characteristic feature than race or ethnicity. However, it is still manifested in many details. Thus, it is possible to define the class when paying attention to the way an individual speaks, the clothes he/she wears, etc. It is also important to note that people pertaining to working class often experience certain kind of alienation. For instance, the way these people talk is co nsidered to be abnormal. Therefore, people of this class often work out different behavioral patterns when they become a part of another class (e.g. middle- class). Interestingly, many researchers deal with such notion as mobility which is regarded as a myth. Admittedly, even in the American society, which largely relied on the American Dream, people can hardly penetrate another class. Thus, it is really hard to shift upwards in any society. All these factors show that class identity can be placed in the one row with ethnical identity, national identity or gender identity. It is also important to note that people’s behavior is shaped by multiple identities. Racial Identity Racial identity is considered to be a phenomenon largely discussed in the twentieth and twenty-first centuries. Interestingly, people started talking about differences concerning race in the 16th century when the era of discoveries started. In the 18th century Europeans tried to decide whether Blacks could be regarded as animals. Notably, the development of technology has enabled people to find the answer to this question as it is proved that only fifty-five genes (out of three million) distinguish different groups of people. In fact, many people now are more concerned with cultural differences. For instance, Brazilians do not differentiate people in terms of their skin color. However, in the USA people still differentiate whites from nonwhites. In this country racial identity plays an important role and it shapes intercultural communication to great extent. It is important to note that whites tend to acknowledge their whiteness. They often report that they feel uncomfortable as they are often prejudged as racists only because of their skin color.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Remarkably, whites feel uneasy when they find themselves in the minority. Therefore, race, be ing one of the most salient features, shapes people’s behavior. It is also important to note that racial identity influences people’s perception. Thus, the American society is overwhelmed with various prejudices based on the issues concerning race. The Sapir-Whorf hypothesis The Sapir-Whorf hypothesis was developed by Edward Sapir and Benjamin Whorf. The two researchers argue that language shapes people’s perception of the world around them. According to Sapir and Benjamin language depicts people’s experience. Thus, the linguists studied peculiarities of Native Americans’ languages and compared different European languages. The researchers supported their hypothesis by many instances. For example, it is possible to think of the way the Dine define colors. Thus, these people have the same word for green and blue, and at the same time, have two words for black. Admittedly, this illustrates the way people perceive the world. However, the hypothesis ha s been criticized. Some researchers have argued that the hypothesis is two formalistic. Thus, some have tried to prove that language does not influence people’s perception. Some argue that not knowing some language or some particular words does not prevent people from understanding some phenomena. Nonetheless, it is verified that language helps to understand these phenomena more quickly. Admittedly, language does shape the way people see the world. One of the best examples to support this assumption is a person learning several languages. Thus, when learning another language, people understand other people’s culture. In other words, they obtain other people’s experience. Thus, it is possible to conclude that the Sapir-Whorf hypothesis reveals one of peculiarities of languages, i.e. people are able not only to communicate some ideas with the help of language but to understand the world better. â€Å"Power Effect of Labels Admittedly, labels play an important rol e in human societies. In fact, people tend to describe people using some sort of labels. These labels usually reveal racial and ethnical identity, gender, job, physical characteristics, etc. Some people argue that it is unfair to put labels. Of course, it is necessary to note that labels are often based on prejudice and misconceptions. Nonetheless, people are not ready to abandon labels as labels help people differentiate others. It is also necessary to note that labels can shape people’s behavior. Thus, those in power can use labels to pursue certain goals. One of the brightest examples of such power is Hitler’s demagogy. He used labels to evoke negative feelings in German people. Notably, not only politicians should be regarded as those in power.Advertising We will write a custom essay sample on The Problem of Class Identity in the Society specifically for you for only $16.05 $11/page Learn More This phenomenon can be manifested in interpers onal communication as well. Thus, parents or educators (intentionally or unintentionally) can influence children’s perception of the world. Fortunately, many people have acknowledged the power of labels and try to use them in a thoughtful way. In fact, it is important to teach young people to understand the power of labels as this can help them to accommodate in different settings. Code Switching Code switching is the phenomenon of changing language, accent or dialect during communication. Code switching may happen due to different reasons. Thus, people who want to accommodate others can switch language (dialect, etc.). On the contrary, if a person wants to emphasize that he/she is different, code switching can happen. Sometimes people switch language to exclude other people from the conversation. However, sometimes code switching can happen unintentionally. For instance, bilingual people may find it easier to speak certain language and switch to it unintentionally. Of course , irrespective of the reasons for code switching, this phenomenon plays a very important role in intercultural communication. Thus, people can feel comfortable or uncomfortable in different situations. Some people have the power to decide whether they want to accommodate others, or whether it is unnecessary. At the same time, others do not have such an opportunity and have to rely on their interlocutors. Such kind of dependence does not contribute to the effective communication. It is necessary to point out that the role of the phenomenon has already been acknowledged and now it is much more important to understand when it is appropriate to switch codes. This knowledge will help people to effectively communicate with each other avoiding any misunderstanding and any negative emotions.

How To Learn New Skills As A Content Marketer [VIDEO] - CoSchedule

How To Learn New Skills As A Content Marketer [VIDEO] Content teams often have too much to do, and too few people to get it all done. For content marketers, that means we’re often asked to stretch our skill sets. Whether you need to create a new type of content or delve into a task you’ve never tackled before, you may not always know how to do everything you’re asked right away. It’s easy to feel overwhelmed. Fortunately, learning new content marketing skills isn’t as hard as it sounds. In fact, it only takes 100 hours to develop basic competency at a given task. Plus, you don’t have to be a master right away. The secret to success is to just start. The secret to success is to just start. #OverheardAtIn this video, I chat with s  Content Marketing Lead, Nathan Ellering, to discuss how to overcome perfectionism and the fear of failure. Plus, you’ll learn the same skill development process the team used to build a blog that gets 1 million page views per month, an email list over 120,000 strong, and a fast-growing social media following.How To Learn  New Skills As A Content Marketer #OverheardAtSubscribe to receive videos in your inbox: //

Information essay ---education related( preferred differences between

Information ---education related( preferred differences between chinese and western education - Essay Example In the modern times when a nation needs to concentrate on the Knowledge economy’, the role of education becomes more important to be addressed in the development of human capital. This is on the grounds that when a nation has a general public of educated citizens, it increases its chances of development at all the social and economic levels. Besides, the every capital pay of a nation altogether relies on the condition of economy which is straightforwardly relative to the education rate in a nation (Leung 42). Educated individuals have different chances and have the capacity to propel in different fields for openings for work, they are versatile and can work in anyplace inside the nation to earn a living and thus enhance their expectations for everyday comforts. Educated individuals have the capacity to enhance openings for work and adequately use the rare assets henceforth lessen neediness levels. For the vast benefits of education across the world, many nations have adopted different kinds of education systems. That is why there is a big difference between Chinese and Western systems of education; many scholars have been quoted to say that â€Å"Westerners are more assertive and creative, while Easterners are more conservative and reserved.† The underlying question is†¦what makes the difference? The difference comes as a result of dissimilar education systems; their approaches to teaching and learning are quite different .In China education is seen as the best approach to land the best position that has the most impact. Therefore, from the time kids can be placed in school, they are overwhelmed with homework, retention and the steady pressure to exceed expectations. Regarding education, conservative Chinese society weights students to study mindfully for required tests expected to move onto the following level of

Wildlife and Forest Management in Kanbula National Park Term Paper

Wildlife and Forest Management in Kanbula National Park - Term Paper Example Wildlife and forest management is essential to preserve its natural beauty and to maintain the ecological processes within. However, there are many factors that affect the wildlife and the forest as industrialization is boosting in the realms of China’s borders. Despite the fact that the Liajiaxia Hydroelectric Power Station is producing clean energy, it ironically has caused several alterations to the ecological system of the Kanbula Forest. This paper aims to 1) provide an exposition about the characteristics of the Kanbula National Park; 2) determine the impact of Lijiaxia Hydro Power Plant to the ecological process within Kanbula National Park and; 3) propose several ways of wildlife and forest management while taking into consideration the present condition of the Kanbula National Park. Introduction Forest ecosystem consists primarily of trees and other naturally growing plants. It nurtures various types of wild animals and other species. The forest ecosystem, like the Ka nbula Forest, provides people with food, fuel, timber and fiber. Other than these, most people do not recognize the significance of forests among their lives. Forests provide protection of the hydrologic cycle. They also help in climate regulation because forests are basically natural sinks of carbon, which is one of the greenhouse gases that harm the planet (Espaldon et al, 2004). Kanbula forest is one of the most diverse across China. However, most of its flora and fauna are at risk of extinction. Major causes of forest destruction include industrialization, commercialism and weak enforcement of forest laws (Sajise et al, 1996). This paper will dig deeper into several issues that Kanbula National Park is facing, and how these issues or factors impact the forest’s ecological system. Characteristics of Kanbula National Park Geographical Position The Kanbula National Park is located in Northwest of Jianza County of Huangnan Tibetan Autonomous States in Qinghai Province, with t otal area of 15,054 hectares and altitude of 2,100 to 4,000 meters above sea level (Hong, Shi, 2009). The Kanbula forest is basically a subalpine forest as it is located in high altitude. The forest is also located in the transition zone from Loess Plateau to Qinghai Tibet Plateau. Thus, it is the warmest region in Qinghai Province. It borders on the Yellow River in the North and is adjacent to the Liajiaxia Hydroelectric Power Station. Huge mountains extend from the forest with trees covered resembling a sea of forest. There are deflated hills around the Kanbula Forest that are formed due to erosion from wind and sand. The hills are called red cloud landforms. Climate Characteristics Cold and warm weathers are the two general climate condition in the forest. Cold season is characterized by cold, windy and dry air, while dry season features monsoon and warm and humid air. According to meteorological data records, the average temperature of the forest is 1 to 2.9 °C (Wu, 2007). The warmest month (July) has a daily temperature of 11.5-13.4 °C. The coldest month (January) has average daily temperature -12-10.1 °C(Wu, 2007). From March to September month average is temperature of 7-8.4  °C; stable over time through 0 °C for 190 days; plant growing period mean diurnal temperature 13.l  °C, 2,622-2,900 hours of annual sunshine hours, global solar radiation 609-647 kJ / cm. Annual rainfall is 450-490 mm, annual evaporation 1,923 mm. Annual average wind speed 19 meters per second, more concentrated in the January to April (Wu, 2007). Soil Characteristics Kanbula forest’s soil has five categories. The first type is alpine shrub meadow soil that is found at the altitude between 3,600 and 3,900 meters. The second type is the

Starbucks Leadership Development

Starbucks Leadership Development Starbucks Coffee Company has an issue in leadership development. Leadership development is a very important issue in all the organization. Starbucks is an American global coffee company. On 30 March 1971, three partners that are Jerry Baldwin, Zev Siegl, and Gordon Bowker are the first Starbucks opened in Seattle, Washington. (Garza, n.d) In 1982, Howard Schultz was joins the Starbucks. He was visits Milans famous espresso bars when he on a business trip in Italy. Their popularity and culture were impressed by Howard Schultz and he sees their potential in Seattle. Starbucks expand beyond Seattle in 1990s. Starbucks Coffee Company now is the largest coffeehouse in the world. They are began selling fresh roasting, high-quality coffee bean and roasting accessories. Starbucks is having their store in 61 countries including the Western country and Asian country. (Starbucks Coffee Company, 2009) Starbucks apply the drive in the early leadership theory. Leaders of Starbucks are set out a high effort level in their organization. Their leaders have self-confidence so that many followers look to them for an absence of self-doubt. Howard Schultz is a intelligence leader in Starbucks. He was intelligence to gather, synthesize, and a lot of information to solve problem and make a correct decision. Starbucks also apply a Path-Goal Theory. Starbucks mission is to inspire and nurture the human spirit. They always provide a good quality of their coffee. For their partner, they always respect and dignity together to hold each other to that standard. They also always full of humanity in their stores even just for a moment so that their customers are enjoy. They are takes their responsibility to be a good neighbors and enjoy the success that rewards their shareholders. (Starbucks Coffee Company, 2009) Build a Starbucks as the most recognized and respected brand in the world is the companys objective. Starbucks Coffee Company is plans to continue rapidly spread their retail operations and its managers executive teams will hire exceptional people who willing to work for excellent results, meanwhile reward and promote those individuals who are commit to move our company forward. Starbucks Corporation will always increase their specialty sales and other operations, introduce of new products for Starbucks brand and development of new distribution channels to achieve their goals. Leadership principle apply in Starbucks Company Howard Mark Schultz (born July 19, 1953) is an American businessman and writer. He is best known as the chairman and CEO of Starbucks who creates the Starbucks concept .The Starbucks name is now synonymous with coffee. It had been developed in various ways where the name itself stands out by its own. Brands and trademarks are gained by the quality of services and contribution given by the committees to build a great company. Transform a small coffee shop to what it is today would not have been possible without its strong operations management and innovations. Howard is an entrepreneur who believes in strong operations management and having a central focus for everyone in the company to follow. Howard is well aware that develop a business successfully involves not only make use of impactful marketing strategy but also emphasis on manage an efficient operation management system as well. This is Howard long-term vision and he aims to lead a small coffee shop to walk toward around the world. It shows Howard possesses the drive traits, is a leader who has a relatively high desire for achievement attitude in leading his business. Based on the efficiency business plan and useful organization functional plan, it help Starbucks create a nearly monopoly in the coffee industry. First, set objective and charting the organization path is an extremely essential primary step to achieve organization objective. Starbucks mission statement state Establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow. This mission statement create a complete and obvious organization objective that helps executive management and Starbucks partners to maintain the highest service quality and well-known name of the company with respect to the operation process. It also allows Starbucks to adapt in todays new market trends and new regulation. The large market share is clearly evidence of an overall operating system that is performing by Starbucks at its highly efficient rate. Implement those objectives by Starbucks means the organization should focus on sustaining the energy level need to maintain the business strategy as well as its everyday operations. These everyday operations can range from top executives creating financial reports for decision-making purposes to the frontline employee who is preparing one of Starbucks many drinks. Howard and his top executives provide a clear picture on Starbucks organization objective, it is easy understand and manipulate by employees, then all the employees can getting tasks done effectively and efficiently through out the daily operation process. Howard and his partner apply path-goal theory in manage employees which means the effective leader clarify the path to help their followers get from where they are to the achievement of their work goals and make the journey along the path easier by reduce roadblock and pitfalls. (Robbins. Decenzo, Coulter, M.2012) Starbucks executive management is to make sure most routin e operation activities such as taking orders and doing monetary transactions are running competently and guide those employees step by step to make sure organization daily operation is going smoothly. This highly efficiency service performance tend to retain highly satisfy and trusting customer to Starbucks. A content workforce maintain by Starbucks lead to fewer partners leave the corporation. Howard is a leader has a democratic style which involves their employees in decision making, always encourages employees participation in deciding work methods and goals. It means, employees at different department are allows to have a say in what is improper for their business practice and tend to suggest other effective method to improve current situation. This leading concept tend to increase manager stability which enables the store to do a much better job of recognize the managerial problem, meanwhile uses those unexpected situation as an opportunity to coach employees. Since, Starbuck Company has coffee shops in every state of America and in 36 countries around the globe. Therefore, Starbucks leader need to have specific job-relevant knowledge in manage the global corporate. As a effective leader, Howard and his top executives needs to have a high degree of knowledge about the company culture, industry, employees characteristics and technical matters because those in depth knowledge allows leaders to make well-inform decisions and to understand the implication of those decision. (Robbins. Decenzo, Coulter, M.2012) It is a crucial step for Howard and his partners in manage a firm by understands organizational culture in different retail outlets and listening to their employees who may have different background and different perspective toward their job. Starbucks stores which can retain the same managerial employee and non-managerial employees have the ability to offer a more personalize service to regular customers and will be more familiar with th e appropriate procedures to create the drinks request. Besides that, Howard is not only emphasis in train employees with the hard skills of make the various coffee drinks, but also highlight the soft skills involve in how to interact with customers. It could be a simple action as creating eye contact or smile. This is how Howard led Starbucks by use minimum amount of organization input to gain a maximum amount of organization output. In order to maximize profit and maintain Starbucks market place in coffee industry, Howard and his partners need to understand how to make something as fast as possible while minimizing errors in management process. This has permit Starbucks to stay ahead of other competitors and let Starbucks endure a large market share in the coffee industry for the longest time. FINDINGS Existing and current problem faced by Starbucks Company Starbucks named itself as a worlds best coffee. Starbucks have more than 17000 stores in 61 countries. With so many stores all around the world, the leadership concept uses by Howard and his partner in the management process is extremely important to the future of the company. One of the problem encounter by Starbucks is they set their stores around the world at a rapid pace. This will cause the supply chain organization to have the problem in maintaining the fundamental. Because of the big amount of stores throughout the world, it required more expenses to generate this supply chain organization. Due to the unstable supply chain organization, it is hard to ensure that the deliveries can arrive on time. Coffee and other merchandise must be source carefully around the globe to ensure it deliver the best quality to every customer. For leader who guide in this organization, they need to always make sure that it have sufficient supply to the entire store. Delay service must try to exclude as it will lead to waste of money and resources. In addition, with this big amount of stores in so many countries, Starbucks will also face the difficulty to maintain the quality of each employee. For Starbucks, their barista is very important to help them in maintaining the quality of each cup of the beverage they made. Although Starbucks do give training to their barista before they qualify, but when come to real situation it is very hard to ensure that every barista doing the correct sequences as what they did in the training. Especially the taste of the same type of beverage might be different in two different outlets. May be this beverage is too sweet in this outlet but it become normal when come to the other outlet. Thus, leader in each store are not focus enough on how good at delivering service to store. Some of the store might have inefficient barista who prepare the beverages slowly plus without clearly know what their customer request. This may occur when cashier do not take the order seriously and lead to confuse and mi stake. Besides, some employees are takes quite long times respond to the existing problem face by customers. Therefore, customer will feel unsatisfied with the late reply and ignoring. Thus, they may consider the Starbucks as a company with poor service performance and hence influence Starbucks prestige and image. Next, Starbucks faced the problem of continuously recruiting new non-managerial employees. This is due to their big amount number of store and also some of the existing employees are only work for temporary period. Since the employee in Starbucks especially baristas are basically working under a team. When they do their job, they like creating a round circle, cashier is taking the order, after customer finish ordering he or she needs to inform the other barista to make the request beverage. After finish prepares the beverage, barista will send it to the customer with a polite greeting. Throughout this entire process, it required a strong bonding and good communication skill between each and every barista so that mistake can be excluded. However, most of the barista do not work for a long period and it will replaced by someone new. Therefore to create the bonding in each other it takes time to generate again. Moreover work under a team required a leader to guide them toward a better d irection. The position of this leader is important due to the leader is someone who can influence others and who has managerial authority. Currently, with the introducing of Starbucks card, it helps to offer a greatest convenience when making any purchase from beverages to latest merchandise, just with the ease of one quick swipe. It is also one of the way Starbucks giving rewards to their customer. However it does creates some problems when handling this Starbucks card for redemption and reloading the amount. Basically when tracker reaches 10, the system issues a complimentary beverage which is displayed in the Rewards column. But sometimes when come to redemption, it will have the difficulty to redeem it due to technical problem or computer down in the store. It might also have the problem of unable to reload the amount of the card. It takes time to solve. If without any technician in the store, it will be just let the customer leave with unhappy and disappointment. Although Starbucks Company exist as a well-known globe corporation with uphold well management practice. But, the initiating structure in the management process seems still not strong enough in handle customers response and problems face. Any changes or improvement should be emphasis by Howard and Starbucks top-executive, and then Starbucks will be more well position to move forward and improve the livelihoods of those in the supply chain. RECOMMENDATIONS Starbucks evolved into a multinational chain from a small-scale. In this development process, which inevitably there will be many superiors communication with staff problems occur. It has thousands of retail stores, which serve some 50 million customers in 61 countries each week and having different types of employees all over the world. Starbuckss leaders need to be able to work across a range of businesses, regions, cultures and be able to cope with different sets of circumstances they will be facing. Apply Fiedler Contingency Model In order to maintain the different leadership qualities among those employees, Howard can apply Fiedler contingency model to solve this problem. The Fiedler contingency model proposed that effective group performance depended upon properly matching the leaders style and the amount of control and influence in the situation. Starbucks top executive should measure an individuals basic leadership style, either task oriented or relationship oriented before decide employees job scope. Howard can use least-preferred co-worker (LPC) questionnaire to measure employees basic leadership style. Starbucks employees were asked to think of all the colleagues they are working with and to describe that one person they least enjoyed working with by rating the candidate on a scale of 1 to 8 for each of the sets of adjective, for example, pleasant-unpleasant, cold-warm, boring-interesting, or friendly-unfriendly. If the employee described the least preferred colleagues in relatively positive terms (a hi gh LPC score- a score of 64 or above), then the employee regard as primarily interested in good personal relations with colleagues and the employee possess a relationship oriented. Inversely, if the employees saw the least preferred colleagues in relatively unfavourable term (a low LPC score- a score of 57 or below), the employee would be regard as task oriented and was primarily interested in productivity and getting the job done. For those employees who are fall in between these two extremes, he or she may not have a cut-and-dried leadership style. After done assess an employees leadership style through the LPC, Howard and his managerial partners will need to evaluate the situation in order to be able to match the employee with the situation. Leader-member relations (the confidence, trust, and respect employees level had for their leader), task structure (degree of job assignments were formalized and structured), and position power (the degree of influence a leader had over daily management activities) serve as the key situational factors in leader effectiveness. Each leadership situation was clearly shown in Fiedlers Contingency Model of Leader-Situation Matches. (Refer to appendix).Once Howard had identify employees basic leadership style and the different types of situation, and then he can identify the appropriate combinations of style and situation for each current employees and new recruiting employees. Conclusion After we complete Starbucks Coffee Company research, we have learns a lot of theories about the leadership. That is the early leadership theories, democratic style, Fiedler contingency model, situational leadership theory and path-goal theory. From those theories, we are learns how to become an effective leader in the organization. Besides that, we also learn about the ways to lead all the employees and manage the whole organization well by using all the theories we are study. Starbucks Coffee Company now is already predominating the leadership theory very well in their organization. Starbucks apply many types of theories of leadership in their organization. The leaders of Starbucks are leads their employees in a good environment and respect to each others. The employees are doing their work probably and always follow the instruction by the leaders. Thus, the organizations operation system will become more completely and smoothly. Today, there are a lot of pressures that the leaders of Starbucks will face when they are responsible to managing a companys organization. The leaders are facing many kinds of problems when leading the employees and manage the organization. The leaders need to build a good relationship with their employees and trust between each other so that the employees can cooperation with them pleasantly. In a nutshell, the leadership is very important for every organization. Whether it is a small or large organization, it must have an effective leader. The leaders must always do improvement so that they can lead all the employees become very well in the organization and can achieve its goals.

Compare and Contrast the Response of Economic Policymakers to the Great Depression of the 1930’s and the Great Financial Crisis Today.

David Pattinson ‘Industrialisation, Imperialism and Globalisation: The World Economy since 1800’ Professor John Singleton Compare and contrast the response of economic policymakers to the Great Depression of the 1930’s and the Great Financial Crisis today. Essay 2 10/1/13 Word count: 2,299 The financial crisis that began in 2007-8 was the first time since the 1930’s that both the major European countries and the US had been involved in a financial crisis.com/financial-statements-2/">Financial StatementsIn comparison, the disastrous 1931 banking crisis involved countries that accounted for 55. 6 per cent of world GDP, whereas the banking crisis of 2007-8 only involved countries that accounted for 33. 5 per cent of world GDP. Though, all the key economic variables fell at a faster rate during the first year of the later crisis. Keynes had argued in 1931 that ‘there is a possibility that when this crisis is looked back upon by the economic historian of t he future it will be seen to mark one the major turning points. ’ Keynes was correct.As a result of the lessons that were learned, policy in response to the Great Financial Crisis has contrasted sharply with policy during the Great Depression era. I will examine how national policy responses and international co-operation have differed, as well as highlighting how in creating the Euro, policymakers have unwittingly replicated many of the structural weaknesses of the Gold Standard. I will also consider how policy in the recovery phase has so far compared to policy during the recovery from the Great Depression.The Great Depression was marked by bank failures. A total of 9,096 banks failed between 1930 and 1933 amounting to 2. 0% of GDP. Friedman and Schwartz highlight the failure to increase the money supply whilst liquidity was tight as the primary cause. Bordo and Landon-Lane provide econometric analysis using examiners’ reports on failed banks that support this argume nt. Epstein and Ferguson have suggested that Federal Reserve officials understood that monetary conditions were tight but believed that a contraction was a necessary corrective. The otion that governments should ‘let nature take its course’ formed a central pillar of the contemporary economic orthodoxy. However, other economic historians have pointed out that Federal officials believed that monetary policy was actually loose, due to them conflating low nominal interest rates with low real interest rates (which were high as a result of deflation). Wicker argues that Federal Reserve officials feared that open market purchases would renew gold outflow by bring into question the Federal Reserve’s commitment to maintaining gold convertibility.When faced with a policy choice the Federal Reserve always opted to support the Gold Standard. Rather than shore up the battered banking system, the Federal Reserve raised interest rates during late 1931 and the winter of 1932-3 to protect the dollar from speculation in order to halt gold losses. Regardless of the deficiencies of Federal Reserve policy, the US entered the 1930’s with a poorly regulated banking system that was undercapitalised and based on unit banking. Calomiris and Mason argue that eventually, banking collapse would have been inevitable.In general, economists argue that the depth of the downturn is explained by the monetary shocks interacting with the dramatic falls in demand (that emanated from the collapse in investment and consumption). Loss of income and uncertain employment conditions combined to undermine consumer spending, whilst there was little incentive to invest while prices were falling. Deflation also increased the burden of existing debt. Fiscal policy did not fill the gap in demand as belief in the Gold Standard and balanced budgets prevailed.A coherent theoretical justification for expansionary fiscal policy was absent from the contemporary economic discourse. Expans ionary fiscal policy remained unused, even after states left the Gold Standard. In Europe, fears of inflation weighed heavy on the minds of policymakers. The dominant view in Washington was that over-production was responsible for the crisis. Consequently, the New Deal spending was funded by tax increases. Roosevelt concentrated on limiting competition, sharing work and promoting high wages in order to increase purchasing power.Cole and Ohanian argue that these policies undermined the recovery by raising real wages and unemployment. The consensus view is that, by subordinating monetary and fiscal policy towards maintaining gold parity, the Gold Standard transmitted the crisis to the rest of the world. The return to the Gold Standard, after the First World War, was unbalanced. Countries such as France and Belgium joined at exchange rates that were well below their 1913 levels which gave them a substantial competitive advantage. Conversely, after a deflationary squeeze, the UK re-join ed at its 1913 exchange rates, leaving the sterling over-valued.The US and France exasperated the problem, by sterilising (so not to inflate the money supply) the gold that they accumulated (sixty per cent of the world’s gold supply by 1928). The lack of reserves forced many countries into further deflation. The world economy could only be kept going by the US economy continuing to absorb imports and provide international lending to cover gold shortages. By 1928, the US proved unwilling to do the latter and was eventually unable to do the former. During the depression, this austerity debilitated economies and resulted in banking collapses, notably in Germany and Austria.In response to the systemic threat posed by the imminent German banking collapse, the nations in a position to offer assistance acted unilaterally. President Hoover proposed a one year moratorium on reparations and war debt. The French, furious at the lack of consultation opposed the measure, believing that th ey lost more than they gained. Instead, they made an offer of help to the Germans that attached political conditions that made it impossible for the Germans to accept. Ultimately, international co-operation proved impossible as states that were able to help were unwilling to risk their own privileged positions.Between 1929 and 1932, the volume of world trade fell by 25%, about half of which was due to higher trade barriers. The Smoot-Hawley Act in 1930 is often cited as the genesis of protectionist policies, but Irwin points out that the protectionist avalanche did not begin until the world financial crisis struck in 1931. Irwin locates the incipience of this round of protectionism in the ‘open economy trilemma’ which limits countries to choosing two of three objectives: a fixed exchange rate, an independent monetary policy, and open trade policies.In attempting to marry membership of the Gold Standard with independent monetary policy, policymakers adopted protectionist measures. Countries that maintained gold parity such as France and Switzerland used import quotas on 50-60% of their imports. Whereas, the Sterling block countries which allowed their currencies to devalue, only used import quotas on 5-10% of their imports. In the wake of the financial meltdown, policymakers in the US attempted significant banking reform with the Emergency Banking Act in 1933 followed by the Banking Acts of 1933 and 1935. Deposit insurance was created, and it brought an end to bank runs.The Reconstruction Finance Corporation was formed to provide capital to banks. It was successful to the extent that it owned stock in nearly half of all commercial banks by March 1934. Investment and commercial banking were separated, though White has provided evidence that banks that engaged in both commercial and investment banking were better diversified and were less likely to fail than banks that specialised in just one area. Calomiris also sees the legislation as flawed, as it preserved unit banking, which was a major source of instability in the banking system.The Great Depression altered economic thinking and policy. Hannah and Temin argue that it led to an emphasis on correcting market failures through government intervention. Federal spending rose, and inter-state transfers became acceptable. Though, unlike the UK, there was no move to Keynesian demand management in the US. The Great Depression also left a legacy in terms of the macroeconomic trilemma. Controls on international capital movements remained with the return to pegged exchange rates under the Bretton Woods Agreement which allowed independent monetary policy.Economists such as Wray have seen the policy legacy of the Great Depression as having constrained the destabilising role played by finance. Moreover, it provided the framework for an unprecedented period of prosperity after the Second World War. In response to the Great Financial Crisis, policymakers have been largely cognisant of the lessons of the 1930’s. The Federal Reserve officials of the 1930’s argued that they could not increase credit by purchasing government securities as they were not eligible as collateral.In contrast, based on Bernanke’s view that banking collapse leads to a failure of the credit allocation mechanism, the Federal Reserve combining with the Treasury created a range of extensions to its discount window to encompass every kind of collateral in the hope of unblocking the credit markets. States co-ordinated massive injections of liquidity (double digits fractions of GDP in advanced economies). The Bank of England, the Bank of Japan and the Federal Reserve undertook large scale quantitative easing. Interest rates were reduced to almost zero in the US and Britain and to very low levels in Europe and elsewhere.Governments nationalised insolvent institutions deemed ‘too big to fail’ such as Freddie Mac and Fannie Mae in the United States, BNP Paribus in France and Northern Rock in Britain. Despite China’s minimal direct exposure to the financial crisis, its response to the downturn in demand has been sweeping. Focusing on developing infrastructure it undertook a stimulus package that amounted to 14% of GDP in 2008. Keen notes that the massive amount of government spending in 2010 meant that government debt was responsible for 12% of aggregate demand in contrast to only 1. % of aggregate demand between 1930 and 1932. Furthermore, unlike the 1930’s, governments have not tried to over-ride, the now much larger, automatic stabilisers. However, the experience of the 1930’s has not effectively militated upon the policy makers of the Eurozone, where a dramatic collapse in employment and living standards has mirrored the Great Depression. Like the Gold Standard, the Euro was unbalanced from its inception as the weaker economies joined at a relatively high rate of exchange on the premise of avoiding inflation.The gap in compe titiveness has widened due to Germany suppressing nominal wages much more effectively than the rest of the Eurozone. Easy credit provided to peripheral areas by German banks created markets for German exports and saddled those areas with debt. Monetary and fiscal policy has focused on creating an international currency to rival the dollar. Consequently, monetary policy has targeted inflation through low interest rates. As monetary policy is unitary, the peripheral economies are denied the opportunity to reflate their economies.Furthermore, unlike other major advanced economies since the crisis began, the Eurozone has required that Fiscal policy be placed under tight constraints via the Fiscal Stability Pact. The retrenching of the crisis on to sovereigns has exposed a central weakness of the Eurozone project. The ECB supports banks but lacks the power to support states. Similar to the deflation that was necessary under the Gold Standard, the peripheral economies of the Eurozone are locked into a mutually reinforcing cycle of debt and austerity.Having pursued national self-interest from the euro’s inception, Vines argues Germany is unwilling to provide the hegemonic leadership that its responsibilities in Europe require of it. Though, Lapavitas et al argue that abandoning fiscal discipline would be incompatible with the avowed aim of maintaining a currency that attempts to compete with the dollar. The value of the euro would probably fall, destroying the large Eurozone banks’ ability to operate internationally. If German policy has followed narrow self-interest to the detriment of others, it has not been alone. China has held down their exchange rates over a long period of time.It is widely estimated that Chinese currency is 30% to 40% overvalued. Martin Wolf of the Financial Times has asserted that Chinese interventions to keep the exchange rate down are tantamount analytically to trade protectionism. Judging by its reserves it has ‘†¦ kept its exchange rate down to a degree unmatched in economic history. ’ States have also been quick to ‘ring-fence’ assets in their own jurisdiction. For example, the fear of the imminent collapse of the Icelandic banks led UK supervisors to resort to using the Anti-Terrorism, Crime and Security Act to ring fence Icelandic bank assets in the UK.Claessens et al point out that in general, national interventions have been uncoordinated and driven by pure national interest. However, the major international banks have co-ordinated massive injections of liquidity into the system at various points. Moreover, protectionism has not been a feature of the current crisis in the way that it was during the great depression. Research has shown that only 2% of falls in world trade in 2008-9, can be attributed to trade barriers. This can be primarily attributed to the system of flexible exchange rates, the lessons learnt from the great depression and the system of trade rules ov erseen the WTO.As of yet following the great financial crisis, there has not been significant banking reform. Attempts at co-ordinated international regulation have proved difficult. The former governor of the Bank of England Mervyn King attributes this to the heightened awareness that global banks are global in life and national in death. The draft proposals for the Basel III accords put forward some significant reforms which were ultimately watered down. Key elements such as a mandatory countercyclical capital buffer were omitted from the final agreement.Although the accords raised the minimum capital requirements, they are still held by many economists to be too low. Attempts at reform including the Dodds-Frank Act have not addressed the problem of ‘Too Big to Fail Banks’ (whose size necessitates that they be bailed out in the event of insolvency due to the systemic risk that they pose). A situation of moral hazard thereby exists where banks know they can engage in a ny risky behaviour they like. If anything should go wrong they know they will be bailed out by the state.In summary, the response to the Great Financial Crisis has differed from the Great Depression as a result of the increased understanding of macroeconomics. The scale of the policy response to the Great Financial Crisis would have been unthinkable during the Great Depression era. Despite the unprecedented response, the economic crisis that began with the financial crisis in 2007-8 is far from over and many problems remain. In the advanced economies, growth has been weak and fears of a triple dip recession persist. The Great Depression precipitated a reappraisal of policy by policymakers and resulted in considerable changes in policy.This has not happened so far to the same extent in response to the Great Financial Crisis. Many of the policy mistakes of the Great Depression have been avoided. The challenge now is to construct a macroeconomic framework that can aid the recovery and eventually facilitate a new period of economic expansion. The change in policies as a result of the Great Depression had some success in this respect. Banking regulation proved inadequate prior to both crises. In response to the Great Financial Crisis, this has yet to be rectified. This time policymakers will have to tackle the issue of ‘too big to fail’ banks.In the Eurozone, Germany has taken on the role of both the US and France during the Great Depression by failing to shore up weaker areas and by pursuing policies to the detriment of everybody else. During the Great Depression, the most important factor in the recovery was the abandonment of the Gold Standard. The countries that devalued in 1931 performed much better than those who had continued with exchange controls. The cost of reverting back to a national currency makes leaving the Euro and devaluing a less viable option for the Eurozone states. Bibliography Barrell, R. and Holland, D. ‘Monetary and Fisca l Responses to the Economic Downturn,’ National Institute Economic Review, No. 211, (Jan 2010) pp. 51-62. Bernanke, B. , ‘Nonmonetary Effects of the Financial Crises in the Propagation of the Great Depression,’ American Economic Review (June 1983), pp. 257-76. Bordo, M. and Landon-Lane, J. , ‘The banking panics in the United States in the 1930s: some lessons for today,’ Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 486–509. Calomiris, C. and Mason, J. , ‘Consequences of Bank Distress during the Great Depression,’ American Economic Review, Vol. 93, (2003a), pp. 937–47.Calomiris, C. , Monetary Policy and the Behavior of Banks: Lessons from the 1930s for the 2010s. 28th March 2011. Accessed: 16th December 2011. www. economics21. org/files/pdfs/in-depth†¦ /calomiris-spring-11. pdf Claessens, S. , Dell’Ariccia, G. , Igan, D. , and Laeven, L. , ‘Lessons and Policy Implications from the Global Fin ancial Crisis,’ IMF Working Paper, No. 14 (2010). Cole, H. and Ohanian, L. , ‘New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis,’ Federal Reserve Bank of Minneapolis Research Department, Working Paper No. 597, (July 2000). Crafts, N. nd Fearon, P. , ‘Lessons from the 1930s Great Depression,’ Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 285–317. Epstein, G. , and Ferguson, T. , ‘Monetary Policy, Loan Liquidation, and Industrial Conflict: The Federal Reserve and the Open Market Operations of 1932,’ Journal of Economic History (December 1984), pp. 957-83. Fishback, P. , ‘US Monetary and Fiscal Policy in the 1930s,’ Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 385–413. Friedman, M. and Schwartz, A. , ‘A Monetary History of the United States, 1867-1960’ (Princeton: Princeton University Press, 1963).Goldstein, M. , ‘Integ rating Reform of Financial Regulation with Reform of the International Monetary System,’ Peterson Institute for International Economics, Working Paper No. 11-5 (February 2011). Irwin, D. , ‘Trade Policy Disaster: Lessons from the 1930’s’ (Cambridge: MIT Press, 2011). Kee, H. L. , Neagu, C. , and Nicita, A. , ‘Is Protectionism on the Rise? Assessing National Trade Policies during the Crisis of 2008,’ World Bank Policy Research Working Paper No. 5274, (2010). Keen, S. , Empirical and theoretical reasons why the GFC is not behind us. 13th June 2010.Accessed: 16th December 2011. http://www. debtdeflation. com/blogs/2010/06/13/empirical-and-theoretical-reasons-why-the-gfc-is-not-behind-us/ Keynes, J. M. , ‘An Economic Analysis of Unemployment,’ From Q. Wright (ed. ), Unemployment as a World Problem, (Chicago: University of Chicago Press, 1931). Lapavitsas, C. , Kaltenbrunner, A. , Lindo, D. , Michell, J. , Painceira, J. P. , Pires, E. , Powell, J. , Stenfors, J. , and Teles, N. , ‘Eurozone crisis: beggar thyself and thy neighbour,’ Journal of Balkan and Near Eastern Studies, Vol. 12, No. 4 (2010), pp. 321-373. 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(1986), ‘Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks,’ Explorations in Economic History, Vol. 23, pp. 33–55. Wicker, E. , ‘Federal Reserve Monetary Policy, 1917-1933’ (Random House, 1966). Wolf, M. ,‘Why China’s Exchange Rate Policy Concerns Us,’ Financial Times (8th of December 2009)Wray, L. R. , ‘The rise and fall of money manager capitalism: a Minskian approach,’ Cambridge Journal of Economics, Vol. 33, (2009) pp. 807–828. Yu, Y. , China’s Policy Responses to the Global Financial Crisis, Richard Snape Lecture, Productivity Commission, Melbourne (25th November 2009). ——————————————– [ 1 ]. N. Crafts and P. Fearon, Lessons from the 1930s Great Depression, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 287 [ 2 ]. J. M. Keynes, ‘An Economic Analysis of Unemployment’, from Q. Wright (ed. , Unemployment as a World Problem, (Chicago: University of Chicago Press, 1931). [ 3 ]. C. Calomiris and J. Mason, Consequences of Bank Distress during the Great Depression, American Economic Review, Vol. 93, (2003a), pp. 937–47 [ 4 ]. M. Friedman and A. Schwartz, A Monetary History of the United States, 1867-1960, (Princeton: Princeton University Press, 1963) [ 5 ]. M. Bordo and J. Landon-Lane, The Banking Panics in the United States in the 1930s: Some Lessons for Today, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), pp. 486–509 [ 6 ]. G. Epstein and T.Ferguson, Monetary Policy, Loan Liquidation, and Industrial Conflict: The Federal Reserve and the Open Market Operations of 1932, Journal of Economic History (December 1984), pp. 95 7-83. [ 7 ]. P. Fishback, US Monetary and Fiscal Policy in the 1930s, Oxford Review of Economic Policy, Vol. 26, No. 3, (2010), p. 394. [ 8 ]. E. Wicker, Federal Reserve Monetary Policy, 1917-1933, (Random House, 1966) [ 9 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, p. 292 [ 10 ]. Calomiris and Mason, Consequences of Bank Distress during the Great Depression, pp. 937–47 [ 11 ].Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 291-3 [ 12 ]. Fishback, US Monetary and Fiscal Policy in the 1930s, pp. 401-5 [ 13 ]. Cole and Ohanian, New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis, Federal Reserve Bank of Minneapolis Research Department, Working Paper No. 597, (July 2000), p. 41. [ 14 ]. Ibid. pp. 294-5 [ 15 ]. Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 295 [ 16 ]. D. Irwin, Trade Policy Disaster: Lessons from the 1930’s, (Cambridge: MIT Press, 2011) Ch. 1 [ 17 ]. Ibid. , Ch. 4 [ 18 ].Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 304-5 [ 19 ]. E. White, Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks, Explorations in Economic History, Vol. 23, (1986), pp. 33–55. [ 20 ]. C. Calomiris, Monetary Policy and the Behavior of Banks: Lessons from the 1930s for the 2010s. 28th March 2011. Accessed: 16th December 2011. www. economics21. org/files/pdfs/in-depth†¦ /calomiris-spring-11. pdf [ 21 ]. L. Hannah and P. Temin, (2010), Long-term Supply-side Implications of the Great Depression, Oxford Review of Economic Policy, Vol. 26, No. , (2010), pp. 561–80 [ 22 ]. White, Before the Glass–Steagall Act: An Analysis of the Investment-banking Activities of National Banks, pp. 33–55. [ 23 ]. L. Wray, The Rise and Fall of Money Manager Capitalism: A Minskian Approach, Cambridge Journal of Economics, Vol. 33, (2009) pp. 813 [ 24 ]. Bernanke, B. , Nonmonetary Effects of the Financial Crises in the Propagation of the Great Depression, American Economic Review (June 1983), pp. 257-76. [ 25 ]. R. Barrell and D. Holland, Monetary and Fiscal Responses to the Economic Downturn, National Institute Economic Review, No. 211, (Jan 2010) p. 56 [ 26 ]. Y.Yu, China’s Policy Responses to the Global Financial Crisis, Richard Snape Lecture, Productivity Commission, Melbourne (25th November 2009) pp. 9-10 [ 27 ]. S. Keen, Empirical and theoretical reasons why the GFC is not behind us. 13th June 2010. Accessed: 16th December 2011 [ 28 ]. C. Lapavitsas et al, Eurozone crisis: beggar thyself and thy neighbour, Journal of Balkan and Near Eastern Studies, Vol. 12, No. 4 (2010), p. 367 [ 29 ]. D. Vines, Fiscal Policy in the Eurozone After the Crisis, Paper prepared for lunchtime talk at Macro Economy Research Conference on Fiscal Policy in the Post Crisis World, (Tokyo, 16 November, 2010). 30 ]. Lapavitsas et al, Eurozone crisis: beggar thyself and thy neighbour, p. 367 [ 31 ]. D. Vines, The Global Macroeconomic Crisis and G20 Macroeconomic Policy Coordination, The Journal of Applied Economic Research, Vol. 4, No. 2, (2010) pp. 157-175 [ 32 ]. M. Wolf, Why China’s Exchange Rate Policy Concerns Us, Financial Times (8th of December 2009) [ 33 ]. S. Claessens et al, Lessons and Policy Implications from the Global Financial Crisis, IMF Working Paper, No. 14 (2010) p. 16 [ 34 ]. L. Kee et al, Is Protectionism on the Rise?Assessing National Trade Policies during the Crisis of 2008, World Bank Policy Research Working Paper No. 5274, (2010), p. 3 [ 35 ]. E. Helleiner and S. Pagliari, The End of an Era in International Financial Regulation? A Postcrisis Research Agenda, International Organization, Vol. 65, (Winter 2011), p. 184 [ 36 ]. M. Goldstein, Integrating Reform of Financial Regulation with Reform of the International Monetary System, Peterson Institute for International Economics, Working Paper No. 11-5 (February 2011), pp. 5-7. [ 37 ] . Crafts and Fearon, Lessons from the 1930s Great Depression, pp. 311