Influence of the global crisis on Russia in 2008 Essay Example for Free

Influence of the global crisis on Russia in 2008 Essay The recent global crisis has been a turning point in the economies of many countries. Its origin can be traced back to the economic meltdown that hit the USA starting the year 2007. The crisis was mainly felt across the world thereafter due to the economic influence of the countries that it later hit. The main cause of this crisis was cited as the lending of money to the different sectors with less pragmatic actions. These had been pegged on the expectations by economists that the money from sectors such as real estate and stocks would go up or remain steady. The ripple effect was thus reflected on countries whose economies were dependent on the countries from which the crisis started. The prices of crude oil had just fallen drastically after an increase in production from countries like Kuwait and Saudi Arabia. This, consequentially, reduced the demand for oil and other petroleum products. Sestanovich and Kennan (2008) opine that the situation in Russia had been made more complex by the fact that its economy largely depends on the sale of oil and gas. These are the primary exports that mainly run the economy of Russia. The prices dropped drastically from $147- $38 due to the fall in demand and prices after an intervention by the oil producing countries. This meant tat the economy of Russia had to slow down due to a slower inflow of cash into the economy. Economists therefore pointed out that the reliance on oil and gas that has characterised the Russian economy was the major cause of the drastic effect of the global crisis. The other cause of the crisis was the intervention of Russia in the war between Georgia and Ossetia. This is due to the fact that many countries that did not approve of the manner in which the intervention was carried out protested by withdrawing their investments in Russia. Consequently, the outflow of cash caused a crisis in the banking sector of Russia. The direct effect of the crisis is that the country was forced to scale down on its expenditure. This was due to the fact that the economy of Russia is not industry-based as much as to enable it to survive the crisis. Therefore, the government went out of its way to support the sectors that it felt would be most vulnerable. The priority fell on the financial sector. A consequence is that the deviation of resources from important projects caused an increase in poverty. This came as a result of lay-offs and a severe decrease in incomes. The purchasing power of citizens thus shot down significantly. The attempt by the government to address the crisis by bailing out the financial sector slowed down the rate of growth and thus the GDP went down. The growth of near 12% that had been projected before fell to 5. 6%. There was an increase in interest rates on loans that locked out the middle and mostly lower class citizens. The activity in the stock market was seriously affected. Stocks dropped by nearly 70% causing uncertainty in the markets. This was another big cause of outflow of foreign investments. The use of reserves was imminent as the withdrawal of foreign investments decreased foreign currencies that were available. Consequently, the government had to start using its reserves, critically reducing it to dangerous levels. The credit that the government owed its trading partners came into focus. Moscow had failed to come up with concrete means of paying back its credits. In as much as it finally paid back all it owed to other economies, its capital base had been reduced to a bare minimum. The crisis had wrecked havoc on the Russian economy and it was a matter of time before the country went into a some form of dependence on foreign aid – an issue the political class had not imagined in a very long while and had done all it could to stop it. None the less, the economy survived the crisis somehow. To address the crisis, the government took several steps to make sure that it did not harm the economy further. The first step was to start production of goods that the foreign investors had been producing in Russia. This was aimed at reducing reliance on foreign countries. The political class, which had been praised for its former policies that ensured the country conserved more than it spent, decided to hold briefs where they would address different issues. First in line was the influence of the US on the global economy. Dmitry Medvedev, Russia’s President, urged the US to ease its chokehold on the global economy as this would mean that other economies that depended on it largely suffer any time its economy does. The political class also reached an agreement that countries that are of interest should be trading partners with Moscow as it also increases economic influence and strategic positioning politically. In dealing with the rising cases of poverty, the government came up with policies that would go a long way in ensuring that housing and education would effectively be subsidised so as to relieve the citizens of heavy expenses on the two areas. This had been necessitated by the decrease in the people’s ability to purchase basic goods and services. A stimulus package was also organised to augment other interventions that had been organised for in the labour market. An example of how this was to be implemented was the unemployment benefits, coming up with ways through which the unemployed could be given temporary jobs and even organising workshops to enhance employee skills while at work. With the keen and pragmatic moves planned by the government, Russia was able to lift itself out of the global economic crisis. This would in the subsequent year prove to be a boost to its economy as dependency had been cut down to necessary levels while increasing production of goods from within. The dependence Russia has on petroleum products like oil and gas is thus slowly going down. Sestanocich Kennan (2008) claim that the government of Russia should not back down on courting international interests as it had started before the crisis. This is due to the fact that international relations increase chances of obtaining favourable trade partners. However, the relations that Russia had with most powerful nations had been drastic on their capacities to gain many partners to trade with. This had reflected on the how fast the countries that had invested in Russia wanted out once Russia started sinking in the crisis and when it decided to intervene in the conflict between Georgia and Ossetia. After grappling with the effects, Russia came out stronger and more economically independent. A reliance on oil and gas had also started going down as other industries had been forced to provide home-grown solutions to lack of critical goods. In conclusion, the global crisis had so many economies shattered. This stemmed from the influence the economy of the US had on the global economy. Russia, as a country, experienced it in the worst form as it came at a time when the petroleum industry was not performing well. In as much as the crisis ravaged its economy, the immediate and near-comprehensive action taken by the government reduced the results faster than thought. Apart from the crisis that Russia experienced in the year 1998, the 2008 one proved to be very costly. This is as a result on the expectations its citizens had after a good run in the global crude oil prices. The leadership of Russia has in effect been forced to look at a wider range of industries that the economy can rely on so as to spread risks. Finally, the global crisis, according to economists, did not reduce the economic influence that Russia had gained in the period before the crisis.

Analysis of the Movie Doctor Zhivago Essay -- Doctor Zhivago Russian R

Analysis of the Movie Doctor Zhivago Doctor Zhivago is a historically accurate movie. It is a love story that takes place during the Russian Revolution, World War One, and the Russian Civil War. Doctor Zhivago is historically correct because of the events it represents, the people the actors portray, and the level of detail put into the setting. At the beginning of the movie, there is a scene showing a man handing out flyers asking workers to join him in a peaceful march to protest against the Tsar. The man’s name is Pasha. He is an ordinary worker who believes to reform Russia there must be a complete revolution of thought and action. Pahsa, when asked if he was part of the Bolshevik party, claims no allegiance. The Bolsheviks were people who were attempting to gain a much more favorable lifestyle for the working class. The Bolsheviks were lead by Lenin, who would end up leading Russia. Since someone questioned if Pasha was a Bolshevik because of his actions, one would believe that the Bolsheviks were doing the same thing; trying to get people to revolt against the Tsar. When the workers who received the flyers join Pasha in the peaceful march, they are attacked Russian soldiers. The soldiers charge at them and the people turn and run. Those unable to escape are killed or injured. In the movie, this event took place in Moscow, but it was representing â€Å"The Bloody Sunday Massacre† which took place in St Petersburg, January 22, 1905. Doctor Zhivago portrayed this event very well. They have the march during the winter of 1905, which is the actual time that the â€Å"Bloody Sunday† event took place. Also, both the people marching in the movie and the people marching in real life wanted the same things. They wanted bread, better working conditions, and eight-hour days. The setting of the massacre scene in front of the Russian palace is correct because in actuality, the massacre took place in front of the Winter Palace. Doctor Zhivago also uses one of its characters to represent one of the historical figures who was involved in the â€Å"Bloody Sunday Massacre†. After the massacre, Pasha escapes with only a cut to his face. He goes to his fiancà ©e, Laura, to ask for help. She asks how he got injured and he tells her about the massacre. He describes how the soldiers slaughtered women and children who only asked for bread to eat. Since he was the... ...go is quite accurate in it’s portrayal of the facts. Everything from the ideas about the revolution to details on the buildings were historically correct. Names and locations might have been changed, but what they represented is factual. Even though the movie’s focus is on the love story and not the revolution, the details for the revolution seem to be accurate. Bibliography 1) Adams, Arthur E. The Russian Revolution and Bolshevik Victory: Why and How? Boston: D.C. Heath and Company, 1960. 2) â€Å"Bloody Sunday.† Spartacus Educational. 2002. Spartacus Educational. October 15, 2004 3) Field, Daniel. Rebels in the Name of the Tsar. Boston: Houghton Mifflin Company, 1976 4) Moorehead, Alan. The Russian Revolution. New York: Harper and Brothers Publishers, 1958. 5) Oliva, L. Jay. Russia and the West: From Peter to Khrushchev. Boston: D.C. Heath and Company, 1965. 6) Roark, James L. and others. The American Promise: a History of the United States: Second Compact Edition. Boston and New York: Bedford/St. Martin’s, 2003. 7) Vernadsky, George. A History of Russia: Fourth Edition, Completely Revised. New Haven: Yale University Press, 1954.

Business And Management Personal Statement Essay

Creativity is what drove me to pursue in Business and Management at University of Westminster. Business has always fascinated me. During my time growing up, I have seen the global economy change rapidly. The European Union has faced many atrocious crisis, making Europe unstable. As a result to prevent the instability, small businesses created jobs to improve the European Union’s economy, and one day I want my business to be a part of that improvement. I came across a quote from Henry Ford, the founder of Ford Motor Company which stated â€Å"A business that makes nothing but money is poor business† Ford Motor Company is a hugely successful company which all probably started with creativity and ambition to actually create something that fulfils peoples need. This further encouraged me to produce a few ideas of my own. Two ideas in particular have stood out to me; firstly: Expand my current company. When I was in my last year in High school, I started my first youth enterprise with my classmate. We noticed that there was a huge request for thin jewelleries among young women. So we created a business plan and named our business Tropical Jewellery UF. Our company took great success and received a lot of positive response. My next idea for this company is to expand it internationally. I still want to develop the business and be as creative as I can, since I have put my whole in this idea. Secondly I have studied a lot about the global poverty. My main idea is to increase the education equivalent in countries who suffers from poverty by creating schools in these affecting areas. I know in particular that I will be facing difficulty whilst establishing the idea, however I will be fighting this struggle in order to create education. Through studying three different math courses, I have gained the ability to interpret data and successfully solve the task and draw conclusion from it. Beside studying math, I have also studied three business courses, marketing and a lot of other courses. I am a very well rounded person with skills and knowledge in many fields. I believe this is an important feature of a business person as they need to be able to deal with many different varieties of challenges. In and out of school I have a big interest in languages. I speak fluent Arabic and of course Swedish. I have studied Spanish for seven years, and I can almost speak it fluently. During my last year in school I studied a French course. I spent two weeks of my summer in  France. I continued to develop my French skills in Paris. During my third year, I studied Cambridge Advanced English and did the exam and got a certificate at the beginning of the summer. A business degree is exceptionally various and can lead to many opportu nities. At present I have recently entered the business world and I am already eager to learn more.

Greek Society vs. Socrates Essay - 897 Words

Greek Society vs. Socrates What make a man virtuous? Throughout many texts of Greek society the picture of a perfect man is painted and apparent. This man, the â€Å"perfect man†, is the virtuous Greek citizen. Who is virtuous not only in the eyes of society, but also at home, in war, and in his relationship to the God(s). Also in Greek society, there was a man named Socrates who’s opinion differed with his culture’s thoughts, and he constructed his own thoughts and beliefs of what characteristics a virtuous man should hold. Not only did Greek society have thoughts of what their virtuous man should be; Roman society did as well. All cultures have a belief of what a virtuous human is and it is described in four ways: in the home, at†¦show more content†¦Aristocrats, who were free men, had the privilege of sitting on juries and also to help make the laws that governed the polis. The virtuous man was also very religious and in charge of his family’s worshiping of the polis’ Gods and also the worshiping of the family’s ancestors. Noble men were very athletic and participated in games to help honor the Gods and prepare themselves for war. These athletic competitions were held in gymnasiums; which was the central feature of the polis. The gymnasiums gave the successful athlete the opportunity to honor his family and polis, and also brought the athlete closer to the Gods after winning. The picture of a virtuous man in Greek society was one that was able to obtain many victories, serve his polis politically, worship the Gods, and run a household. The man all men tried to become is perfect in every way in personal and public life. He was powerful, intelligent, resourceful, cunning, and skillful. This man would take care of his family and make the decisions of the house, serve in the army, serve his polis on juries, and also worship his Gods. 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