Asia In The World Economy Research Paper Example | Topics and Well Written Essays - 1250 words

Asia In The World Economy - Research Paper Example During the late 2008, Yen began to appreciate sharply against dollar and was valued at 86.15 yen in 2009. At the end of 2010, the yen was rated at 88.66 yen. (Source: World Data Bank) The real effective exchange rate as seen from the graph has remained volatile between 1980s and 1990s. During the era of 2000 and forward, the value of yen has declined. It has been going down from the price of 120 dropping to 80. After the financial crisis of 2007-2008, the yen is seen to gain value and is rising till date. Japan’s real exchange rate has appreciated over the years due to the rapid increase in the high-productive manufacturing sector. Trends in Japanese Exports – in terms of value and composition (Source: World Data Bank) The exports in terms of value are an important element in the present Japanese economic adjustment. The structure of exports as well as imports has changed considerably over the years. The above graph shows the trends in exports value since 1980 till date . There has been a constant growth in exports since 1980s till 2000 with minor fluctuations in between. These exports can be attributed to the increase in IT-related goods, consumer goods and US been the largest trading partner. (Source: Statistical Handbook of Japan, 2010) According to the composition of exports, the leading export commodity was transport equipment which is 22% of the total exported value. It is followed by electrical machinery constituting 20% and general machinery 17.8% of total value exported. Another interesting characteristic of Japanese export is the increased proportion of high-value added products such as integrated circuits and steel which are increasing in total Japanese exports. Relationship between exchange rate (nominal and real) and exports The changes in trade surplus, given by the difference in value of exports and imports, are influenced by price changes. Appreciating yen will lower the price of imports relative to exports causing the trade balance to be higher. Given this condition, during 1990s the yen appreciated 20% causing more imports and fewer exports. This affected the competitive price position of Japanese exports in foreign markets. The Japanese trade and exchange rate are very closely related. The real exchange rate of yen is highly positively correlated to Japanese trade and specifically exports price relative to import prices. For instance, between 1990 and 1995, the yen appreciated by 40% against dollars. If the prices of yen and dollar would have remained the same, Japanese products would have been 40% more expensive in comparison to US goods. The government intervention to cut down yen export prices and shifting to manufacturing high-value goods helped the growth of Japanese exports during the 1990s. The export volume grew annually at a rate of 5% through 1990 and 1995. The Japanese exports took a downfall in late 1990s owing to the drop in sales in the European market which is large enough to drop the Japanes e exports by 10%. In 2003, when the nominal yen/dollar exchange rate was at 120, the exports rose rapidly which again declined in 2007-2008 because of the financial crisis which cause the appreciation of yen below 90 to dollar. This caused the Japanese exports to fall drastically. Impact of the Plaza Accord In 1985, the G-5 nations including Japan forced United States to devalue dollar because of the current account deficit. The G-5 nations were

The Short-Term Significance Of The Anglo-Saxon Invasions Coursework

The Short-Term Significance Of The Anglo-Saxon Invasions - Coursework Example The invasion of England was a result of fighting between the British and the Anglo Saxons until around AD 500 at the Battle of Mount Badon which started as a result of a mutiny by Anglo Saxon mercenaries within the Roman army between 450 and 500. However, Gildas in his De Excidio Brittannie acclaims the resistance to Ambrosius Aurelianus who finally won the Battle of Mount Badon, which steamed the migration of the Anglo Saxons and their dominance of England as the Britons exhausted themselves with internal disputes, wars and general unrest. Discussion A most recent account based on a skeptical review of the archeological evidence by Hines notes that, while there was a general sequence of the transition from Roman Britain to Anglo-Saxon England, it cannot be dated to the exact dates as historians would desire. This is due to very little evidence in the form of Anglo Saxon artifacts that could be dated back to the 5th century. Anglo Saxon influence hence became more visible during the 2nd half of the 5th century resulting in the definition of the coming of the Anglo Saxons from the point which they achieved significant influence rather than their first arrival, c450 hence is just a date as any. The significances of the Anglo Saxon invasion in Britain can hence be analyzed in terms of the social, political, economic, cultural and economic impacts. As one of the short term social impacts of this invasion and final migration, the Anglo Saxons were assimilated into the Celtic culture and their social setting, especially in the central and southern parts of Britain. This contributed to the final creation of the Anglo Saxon England which basically led to the extensive use of the old English language. The language arose as a social need among the three different communities of the Anglo Saxons to communicate among each other (Gerrard, CA217. Celt was the language of the military and the higher in society who in any given society are usually few in number and the fall of the Romano British rule saw the fall in the number of Latin speakers, hence leaving the majority and the rest of the society to be speakers of old English whose growth in population increased the number of old-English speaker. The Anglo Saxon invasion of England is mainly known to have started by the invitation of Anglo Saxon mercenaries of 100 men on three ships by the Romans to help them in the war against the Picts and the Irish, and also others who came to their own accord. Their most known form of military advancement was on foot sores but during the aftermath of their invasion of Britain, and their expansion of their territory, they switched their military strategy to charging on horsebacks which can also be attributed to the expansion of their kingdom which meant large tracts of land to be covered, which logically could not be done on foot. In the early Anglo Saxon settlement in Britain, buildings were of simple construction, only using masonry in the foundation only but the rest was strictly using timber with thatch roofing. This form of architecture of the Anglo Saxon was because of not wanting to settle within the old roman cities. With the Roman settlement among the Anglo Saxons also saw a distinctive contrast in the form of construction of houses and in the overall architecture in totality (White, CA 211). The Roman settlement led to the building of monumental forms of architecture which can be attributed to Christianity since the churches of this age were to be built in a particular form of architecture. Christianity as a religion was formally introduced to the Anglo