Who Are the Native Americans

Ask most people who they think Native Americans are and they will most likely say something like they are people who are American Indians. But who are American Indians, and how is that determination made? These are questions with no simple or easy answers and the source of ongoing conflict in Native American communities, as well as in the halls of Congress and other American governmental institutions. The Definition of Indigenous Dictionary.com defines indigenous as: Originating in and characteristic of a particular region or country; native. It pertains to plants, animals, and people. A person (or animal or plant) can be born in a region or country, but not be indigenous to it if their ancestors did not originate there. The United Nations Permanent Forum on Indigenous Issues refers to indigenous peoples as people who: Self-identify as indigenous at the individual level and are accepted by the community as their member.Have historical continuity with pre-colonial or pre-settler societiesHave a strong link to territories and surrounding natural resourcesExhibit distinct social, economic or political systemsHave a distinct language, culture, and beliefsForm non-dominant groups of societyResolve to maintain and reproduce their ancestral environments and systems as distinctive peoples and communities. The term indigenous is often referred to in an international and political sense, but more and more Native American people are adopting the term to describe their native-ness, sometimes called their indigeneity. While the United Nations recognizes self-identify as one marker of indigeneity, in the United States self-identify alone is not enough to be considered Native American for official political recognition. Federal Recognition When the first European settlers came to the shores of what Indians called Turtle Island there were thousands of tribes and bands of indigenous peoples. Their numbers were dramatically reduced due to foreign diseases, wars and other policies of the United States government; many of them that remained formed official relationships with the U.S. through treaties and other mechanisms. Others continued to exist, but the U.S. refused to recognize them. Today the United States unilaterally decides who (what tribes) it forms official relationships with through the process of federal recognition. There are currently approximately 566 federally recognized tribes; there are some tribes who have state recognition but no federal recognition, and at any given time there are hundreds of tribes still vying for federal recognition. Tribal Membership Federal law affirms that tribes have the authority to determine their membership. They can use whatever means they like to decide who to grant membership to. According to Native scholar Eva Marie Garroutte in her book Real Indians: Identity and the Survival of Native America, approximately two-thirds of tribes rely on the blood quantum system which determines belonging based on the concept of race by measuring how close one is to a full-blood Indian ancestor. For example, many have a minimum requirement of  ¼ or  ½ degree of Indian blood for tribal membership. Other tribes rely on a system of proof of lineal descent. Increasingly the blood quantum system is criticized as being an inadequate and problematic way of determining tribal membership (and thus Indian identity). Because Indians out-marry more than any other group of Americans, the determination of who is Indian based on racial standards will result in what some scholars call statistical genocide. They argue that being Indian is about more than racial measurements; it is more about identity-based on kinship systems and cultural competence. They also argue that blood quantum was a system imposed on them by the American government and not a method indigenous peoples themselves used to determine belonging so abandoning blood quantum would represent a return to traditional ways of inclusion. Even with tribes ability to determine their membership, determining who is legally defined as American Indian is still not clear cut. Garroutte notes that there are no less than 33 different legal definitions. This means that a person can be defined as Indian for one purpose but not another. Native Hawaiians In the legal sense, people of Native Hawaiian descent are not considered Native Americans in the way that American Indians are, but they are nonetheless indigenous peoples in the United States (their name for themselves is Kanaka Maoli). The illegal overthrow of the Hawaiian monarchy in 1893 has left in its wake considerable conflict among the Native Hawaiian population, and the Hawaiian sovereignty movement which began in the 1970s is less than cohesive in terms of what it considers the best approach to justice. The Akaka Bill (which has experienced several incarnations in Congress for over 10 years) proposes to give Native Hawaiians the same standing as Native Americans, effectively turning them into American Indians in a legal sense by subjecting them to the same system of law that Native Americans are. However, Native Hawaiian scholars and activists argue that this is an inappropriate approach for Native Hawaiians because their histories differ significantly from American Indians. They also argue that the bill failed to consult Native Hawaiians about their wishes adequately.

The Importance Of Women During The Slave Exchange

Understanding the importance of women in regards to the slave exchange is essential for gaining insight into the investigation of slave society by and large. Not only were female slave subordinate in view of race however they likewise shared the trials of the abuse of the female sexual orientation. The black woman assumed a key part in the advancement of slave groups through the improvement of African Sexuality, Family Structure and Economic Productivity. It is in this manner that I will approach the slave exchange from a female viewpoint to comprehend the advancement of these slave groups. The African female did not soley serve as a financial attribute when bought as a slave. Regular sexual obligations and childbearing were expected and†¦show more content†¦Shockingly, on the other hand, this romanticized perspective of the dark lady did not command originations of the time. Numerous European eyewitnesses saw African ladies as rough and creature like in light of the fact that they were physically fit for doing likewise work in the fields as their male partners. White female workers were not equipped for performing the same undertakings thus the strength of structure of dark females was adversely contrasted with European ladies. There is additionally proof of various issues between white men and dark ladies making a huge mulatto populace and incredibly prompting the displeasure of a little European female populace. A woman in the book of Dubois speaks to the animalization and molestation of black women in saying, â€Å"I shall never forgive, neither in this world nor the world to come: its wanton and continued and persistent insulting of the black womanhood whit it sought and seeks to prostitute its lust.† There are a couple contrasting perspectives on the development of marriage in the slave arrangement of the Atlantic World by today s history specialists and social investigators. While some scholars guarantee that family development was simply one more type of mastery by the white man, social scholars battle that family structure helped with framing connection ties and different types of society

Coastal management Free Essays

string(63) " protective reef will be given the go-ahead by the Government\." THE LOBBY and several bedrooms parted company with the Holbeck Hall Hotel yesterday, leaving half of the four-star establishment behind. Engineers said heavy rain this spring after several dry summers was the probable cause of the landslip, which has sent sections of the hotel toppling into the North Sea. The north-east wing of the 30-bedroom hotel collapsed into Scarborough’s South Bay on Saturday night. We will write a custom essay sample on Coastal management or any similar topic only for you Order Now Guests had been evacuated early on Friday after huge cracks appeared overnight. The rest of the east wing gave way yesterday, leaving the hotel barely half intact, but what remains is likely to be demolished. Geologists say the east Yorkshire coast, with it’s steep clay cliffs, has always been vulnerable. South of Scarborough, the 40-mile stretch of cliffs of Holderness is the fastest-eroding coastline in Europe and is experiencing the worst land-slips for 40 years. But Mr Michael Clements, director of technical services for Scarborough council, said sea erosion was not a factor in the Holbeck landslip. The cliffs below the hotel are protected at their base by a sea wall. The main problem, he said, was probably heavy rain which penetrated layers of sand and gravel in the cliffs, lubricating the clay which had cracked in hot weather. â€Å"There is a long history of cliff movements in the area,† Mr Clements said. â€Å"According to local records, the first Scarborough spa was carried away by a landslide in 1770, while the Holbeck cliffs suffered a major slip in 1912. Cliff stabilisation schemes were carried out further north at Whitby in the 1980’s and at Robin Hood’s Bay in the 1970’s. In the fishing village of Staives, the breakwaters were recently raised. Pressure for further protection has run up against the obstacle of expense. â€Å"The cost of protecting these cliffs is phenomenal.† Mr Clements said. â€Å"The work at Whitby cost à ¯Ã‚ ¿Ã‚ ½3.4 million.† Most developed areas around Scarborough have seawalls but this is not the case further south, where Mr Eddie Knapp, principal engineer of Holderness council, said there had been â€Å"unusually large and particularly worrying† land losses over the past six months. â€Å"The average rate of erosion is 6ft a year but this year it has been up to 65ft in places,† Mr Knapp said. At Skirlington, 65ft of land has recently fallen into the sea, carrying away 23 bases at a caravan park, while 70ft of land has gone at Aldbrough caravan park, leaving 15ft of unfenced land before a 60ft drop into the sea. A family living in a chalet at Atwick, near Hornsea, was rehoused when the cliff edge came perilously close. Mrs Sue Earle, chairman of the Holderness Coast Protection Committee, is to outline local concerns in talks at the Agriculture Ministry today. Mrs Earle, whose farm-house is 30ft from the cliff edge at Cowden, said: â€Å"Now that this has happened in a nationally-known resort, I hope it will help to bring the issue out into the open. Daily Telegraph, 7.6.93 South Coast subsiding as the sea level rises By Christine McGourty, Technology Correspondent PART of the south coast of England is sinking at a rate of almost an inch every five years, according to new research. The find comes from an analysis of tidal measurement data from 1962 until about 1985 by Portsmouth University researchers. The higher tide measurements were thought to be a combination of subsidence and rising sea levels. Discovery of the subsidence à ¯Ã‚ ¿Ã‚ ½ from Portsmouth to Newhaven à ¯Ã‚ ¿Ã‚ ½ follows evidence from around the world that global sea levels have risen by four to six inches over the past 100 years. The subsidence will add to the problems expected from the sea level rise associated with global warming. Sea levels on the south coast are expected to rise by at least eight inches by 2050. Dr Janet Hooke, director of the university’s river and coastal environment research group, said: â€Å"Most previous studies showed the subsidence was confined to East Anglia. This is the first analysis to show that parts of the south coast may be subsiding too. The movement may have origins back in the last ice age.† Malcolm Bray, one of the researchers, said at the Institute of British Geographers’ annual conference in Nottingham: â€Å"It seems frightening. â€Å"What we’re doing now is to work out what it means for the local authorities affected. â€Å"We can’t stop flooding à ¯Ã‚ ¿Ã‚ ½ that’s an act of God à ¯Ã‚ ¿Ã‚ ½ but we may be able to minimise the impact through coherent local and regional strategies. â€Å"We need to study the coast over longer distances and look slightly further into the future to stop authorities doing something that could have detrimental effects on their neighbours. â€Å"Our research shows that some parts of the coast are independent but many parts are interconnected.† They found the stretch from Lyme Regis to Newhaven could be divided naturally into nine â€Å"coastal cells†. Dr Hooke said: â€Å"Some preventative measures need to be taken now while the opportunity is there. â€Å"We don’t want to see building on very vulnerable zones, which could just create problems for the future with flooding and erosion. â€Å"Plans may be needed to manage conservation of wetlands which are particularly vulnerable.† The researchers welcomed the Government’s strategy for coastline management, announced last October, and said that more coherent analysis of longer stretches of coastline were needed all around the country. * Navy beans, from which baked beans are produced, could be grown in England if the global temperature rises as predicted in the next century, according to a study. Researchers at Coventry University and Horticultural Research International have found that navy beans could be grown in Hampshire, East and West Sussex and Kent if the temperature rose by just 0.5C in the next century. The climate is too cold at present for navy bean crops and most are imported from America and Canada. Daily Telegraph 8.1.94 Erosion-hit resorts pin hopes on reef of tyres By Richard Spencer and Lynda Murdin RESIDENTS along the fastest eroding coastline in Europe are hoping a plan to dump millions of tyres in the sea as a protective reef will be given the go-ahead by the Government. You read "Coastal management" in category "Papers" Villages and the resorts of Withernsea and Hornsea on the Holderness coast in Humberside are in danger of slowly falling into the sea. If the Ministry of Agriculture grants a licence for the trial tyre-reef scheme, it could lead to one of the most ambitious coastal engineering projects in Europe since the Dutch reclaimed its polders from the other side of the North Sea. The area from Hull to the low, muddy cliffs of the Humberside coast has always suffered erosion. Spurn Head, the spit of land which juts out into the Humber estuary, has been washed away and re-formed six times in recorded history, while many villages already lie underwater. But, in the past five years, the pace of change has rapidly increased. Some homes have been abandoned and farmers are seeking compensation for loss of land and buildings. The Humberside trial would submerge a bank of 1.5 million compressed tyres bound with nylon and concrete into a tangle of ropes six or seven metres high, 110 metres long and 60 metres wide. Placed up to 1,000 metres offshore, it would be tested for its stability, effects on local currents and pollution. If it worked, the full scheme could place more than a billion tyres in seven, two-kilometre long strips all the way up the coast. Humberside County Council accepts that such an ambitious project is unlikely to go ahead quickly – possibly not even this decade. In the meantime, the coast depends on smaller schemes under the supervision of Holderness Borough Council. The most recent, at the village of Mappleton, was opened with fanfares four years ago but, while it has saved the village, it has also caused resentment. Other villages say that it has accelerated the rate of erosion elsewhere by preventing the protective sand that drifts down the coast from reaching the beaches. It raised expectations that other schemes could be put in place, hopes the Government dashed in 1993 with a review of policy imposing new environmental and financial demands. The Department of the Environment is expected shortly to approve a controversial à ¯Ã‚ ¿Ã‚ ½4.5 million, 1,000-metre sea wall around the North Sea gas terminal run by BP and British Gas near Easington. A full plan, which would also have protected the village, was turned down by the department. Mr Robin Taylor, Holderness’s director of development, said this appeared to be because under the new guidelines schemes had to prove not just â€Å"cost-beneficial† but to be in the national interest. Saving gas supplies probably was, saving villages not. Mr Ambrose Larkham, who owns the Easington Beach Caravan and Leisure Park, is demanding a public inquiry. â€Å"The ludicrous thing is it is almost as cheap to build 1,600 metres while the equipment’s there as it is 1,000,† he said. Mr Taylor said: â€Å"The question of why we are protecting the terminals and not the people of the village is likely to become very controversial. The issue is whether we should be protecting multinational companies and not our own residents.† But Mr Geoffrey Twizell, terminal manager for British Gas and himself a resident, said: â€Å"We are happy to contribute to any scheme that meets everyone’s aspirations. Nobody would be talking about any protection at all for Easington if it weren’t for the gas terminals here.† Daily Telegraph 1.4.95 Essex drops its guard to let nature take its course By A J McIlroy A TACTICAL retreat could be the answer to coastal erosion on the Essex coast, Government engineers have decided. Contractors from the Ministry of Agriculture and English Nature yesterday lowered the sea wall to flood 21 hectares at Tollesbury Fleet on the Blackwater Estuary. The area is being restored to salt marshes intended to absorb the power of waves that have been pounding artificial sea defences. If the experiment succeeds it will be extended along the Blackwater and to other saltwater estuaries. Roy Hathaway, of the Ministry of Agriculture’s flood and coastal defence division, said tracts of coastal marshes were lost when drainage engineers in the 17th and 18th Centuries built sea walls to reclaim land for farming. Now, as a result of the gradual rise in sea level, many of the hundreds of miles of sea wall are crumbling. These are costing millions of pounds to repair, a financial burden that is â€Å"becoming increasingly hard to justify†. He said that to encourage private landowners to accept coastal flooding, the Government had written a â€Å"saltmarsh option† into its set-aside programme, the European Union measure to take farmland out of production. In exchange for allowing their land to become inter-tidal again, farmers would receive à ¯Ã‚ ¿Ã‚ ½190 per hectare per year for grassland and à ¯Ã‚ ¿Ã‚ ½500 for arable land. The payments are guaranteed for 20 years. Mr Hathaway said the ministry was working with conservation groups to maximise the gain to wildlife by restoring the salt marshes. Daily Telegraph 5.8.95 SHORING UP THE COASTLINE By John Hodder THE PRETTY little Suffolk town of Woodbridge was snoozing under a cloudless sky, with a soft breeze taking the sting out of the sun. I gazed out over the placid surface of the River Deben. It was midday in midsummer and this was quiet, gentle England at its most benign – the sort of place, the sort of time that makes it hard to feel threatened by anything, let alone the forces of nature. Twenty-four hours later I was on the beach at Dunwich, 20 miles to the north. The conditions were not very different – the same blue sky and hot sun, cooled now by a rather more blustery wind coming off the sea. But here the threat felt very real – probably because here it is very real. Dunwich is at the mercy of the elements, as it has been down the centuries, and the cliffs just carry on crumbling. If the sea is left to its own devices over the next 70-odd years, the shoreline will retreat by about 200 metres. That, at least, is the experts’projection. Projections, of course, are not the same as firm predictions. But they underline what the problem is – in this case, chronic erosion. The first and obvious question is: â€Å"What can be done to stop it?† The second and much more taxing one is: â€Å"Should anything be done to stop it?† Neither question has an easy answer. If Dunwich is not simply to be abandoned to its fate, a difficult balance will have to be struck between its interest and those of its neighbours. Coastal protection is a tricky science. Nobody knows that better than Roy Stoddard. His title is senior engineer (coast protection) with the Suffolk Coastal District Council and it was to pick his brains that I had gone to Woodbridge. His job is to oversee the 30-mile stretch of coastline from Felixstowe to Southwold, an area whose sand and shingle beach is notoriously unstable when pounded by the waves of the North Sea. It has suffered grievously in a series of violent storms this century. The task of looking after it is now shared between the local authority and the National Rivers Authority (NRA), overseen by the Ministry of Agriculture, Fisheries and Food (MAFF). They work closely together and their common enemy is the sea. The approach to coastal protection has shifted significantly over the past 20 years. â€Å"‘Fight against the sea’ was the message until the 1970s,† says Stoddard. â€Å"Now we are not trying to fight against it so much as to work with it, using its peculiar ways to destroy its own energy.† That shift in approach is reflected in marked changes in the sort of barriers now being erected to stem the apparently relentless advance of the waves. As a result, the traditional beach scene is changing. For example, the solid sea walls built behind the beach – and the wide promenades that have accompanied them since Victorian times – are now out of favour. Walls merely repel the waves: they do nothing to reduce their speed or power, which is now recognised as the key to the successful preservation of the shor e. Instead, efforts are being concentrated on protecting and building up the beaches themselves. Similarly, a profusion of timber groynes jutting out at right angles into the sea – the time-honoured means of defence and a common sight along this coast – is seen as far less effective than a few large, rock-based structures shaped like fish-tails. The old wooden ones are fine for leaning against while you have your lunch or sheltering behind on a cold, blowy day. But they are not good at sheltering the shore. The main problem with them -apart from their propensity to rot – is that they cannot be made long enough or deep enough to significantly slow down the incoming rush of water. Hence the move towards the new fish-tail variety. A series of these has been built at Clacton, 20 miles to the south of Stoddard’s patch. He is now proposing to develop the concept further by building two similar groynes at Cobbolds Point in Felixstowe, using rock and concrete. Despite their size, which might be considered ugly and intrusive, few people dislike them, he says, and the arguments in their favour are compelling. By confronting the sea farther out they do much more to take the steam out of the waves before they reach the shore. And the farther out you go, the more shore you protect by creating two calm areas in the lee of the two wings of the â€Å"tail†. Thus you help to build up a long stretch of sheltered beach. â€Å"Fish-tailed groynes are many times the length of wooden groynes but you only need one about every kilometre rather than one every 20-30 metres,† says Stoddard. â€Å"As well as being more environmentally-friendly because they enable people to walk along the whole beach – something they couldn’t do before, at least not without stepping over groynes every few yards. â€Å"They have another advantage over sea walls. If you build them and find they don’t work as well as you’d like, you can pick them up and move them. You can’t do that with a massive sea wall.† Stoddard sees the introduction of fish-tail groynes as a â€Å"soft-engineering solution† in contrast to the old â€Å"hard† solution of building walls, which is now seen as causing more difficulties than it solves. â€Å"The problem is that whenever you build a hard wall it is almost invariably accompanied by the beach levels falling. The sea is thrown back off the wall and drags the sand and shingle out. Sometimes the wall itself is undermined – you can shore it up but in time the same thing will happen again.† Solid walls are the most concrete (literally) expression of the view that you must at all costs protect the land against the sea. That view is now being challenged. â€Å"You have four options,† says Stoddard. â€Å"Do nothing, hold the line, advance or retreat. Ten years ago the general view was that everything that could be saved should be saved. Now people are far more aware that harsh decisions have to be made.† Such decisions have worrying implications for places like Dunwich. There, to stop the erosion, you would have to start building some form of protective structure along the beach: merely reinforcing the shingle bank is not enough to stop continuing inroads being made into the coast. So why the hesitation over doing something more effective about it? Simply this: the erosion of the cliffs at Dunwich has positive benefits for the beach immediately to the south at Sizewell. Dunwich’s loss is thus Sizewell’s gain: that is nature’s way. It is a conundrum repeated all along the coast. â€Å"If you have got to save the cliffs at Dunwich, you’ve got to find alternative means of feeding the beach at Sizewell,† says Stoddard. â€Å"In the end, you have to say that there are some places you won’t protect – and people have got to come to terms with that.† Such a hard-nosed attitude can stir up fierce emotions, not least because of the way it could affect both the people who live there now and those who would like to join them. Consequently, it has serious implications for local planners. Do you, for example, go on allowing people to build houses near the sea, thus continually extending the number of years that you have to go on protecting that particular bit of coast – probably at someone else’s expense? Another issue arousing controversy is the question of compensation for landowners whose land is gobbled up by the sea. At the moment there is no provision for compensation – indeed, it was specifically excluded from the 1949 Coast Protection Act. But as Stoddard says: â€Å"How do you tell a farmer that his 500 acres of productive arable land would be far better as salt marsh? The question of compensation is going to have to be addressed very shortly.† The difficult questions roll in almost as relentlessly as the sea. I pondered them late at night as I walked the beach at Aldeburgh, with the wind strengthening from the north-east and the waves crashing on to the shingle. They were still nagging away later still, as I lay in bed listening to the roar on the shore just below my hotel window. The sound that had been so soothing in the summer sunshine had taken on a darker edge. Suddenly the forces of nature seemed far less benign. Leisurely progress coastal protection has developed piecemeal over the past 150 years, driven not so much by pure science as by the demand to fulfil social expectations. It was essentially that pressure which led to the widespread introduction of sea walls. From the mid-19th century wealthy Victorians sought the development of coastal resorts. To realise their leisurely ambitions, engineers were drafted in to build the walls and the promenades which went with them. Over the years it has become increasingly obvious that such a haphazard approach is unsatisfactory and that activity on one bit of the coast could have damaging effects on another. The need for greater planning and co-ordination, recognised in the 1949 Coast Protection Act, is now universally acknowledged: it will be reflected in the six new shoreline management plans that are being prepared for the whole of the east coast, from the Humber to the Thames. 26.8.95 From Compton’s Complete Reference Collection Landforms that result from erosion, or wearing away of the land, make up some of the most scenic coastal areas in the world. Sea cliffs that border many rocky coasts are an example. These cliffs were created when pounding waves weakened the lower portion of the rock to the extent that parts of the cliffs above tumbled into the water, leaving a rock wall with rubble at the bottom. Solid rock shores that lack beaches are easily destroyed by the sea. Beaches consequently protect the shore. Sometimes groins (short piers that extend out into the sea from 30 to 200 meters, depending on the nature of the beach) are constructed to protect the shores from erosion. This has been done along the coasts of the Black Sea. In recent years, some beaches have been artificially restored with sand taken from the sea bottom or from nearby dunes. This has been done on many beaches in the United States and on the island of Norderney in the North Sea. How to cite Coastal management, Papers

Bridge to Wisemans Cove Essay Sample free essay sample

In the Teenage fiction novel. A Bridge to Wisemans Cove. Carl is one of the few people who change in the novel while being at wattle Beach and Wisemans Cove. Carl alterations Physically. Socially and mentally. Harley besides changes seeing his personality has developed every bit good as his determination devising and Maddie besides changes seeing that she isn’t the Maddie Carl knew before. Carl was put in a tough determination seeking to work out what both he and Harley are traveling to make for the hereafter. Carl Develops physically. mentally and socially. Carl has become physically fit by working on the flatboat. His head develops since he now needs to be in charge of Harley’s hereafter and more significantly. his ain and he has besides met a new accomplishment and that is being able to speak to girls without faltering and being diffident. Harley is a typical immature male child who has made a batch of incorrect determinations throughout the novel. We will write a custom essay sample on Bridge to Wisemans Cove Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page every bit shortly as he met Aunt beryl. his life changed from being a nice immature male child to an aggressive immature kid. he has been stealing nutrient from the shops. seeking to hit Aunt beryl but since he has been populating with joy. everything has been different from wattle beach with Aunt Beryl. Maddie was a really obstinate individual until she genuinely knew Carl. She wanted to ever see Nathan Trelfo but every clip when joy said no she would travel into her room weeping and when Aunt Beryl took Carl. Harley. Maddie and Jasmine. Maddie Wanted to take Nathan to the fish hawk with her but joy wouldn’t allow her so she went to her room and called Nathan but he said no. Carl isn’t the lone individual who changes in the novel. these statements put frontward prove that other people change. non merely Carl. Carl Changes in a assortment of ways. Harley besides changes personality wise and the picks he makes and he is now responsible for what he does and Maddie besides changes because she is non every bit obstinate as she one time was because she used to seek and ask for Nathan Trelfo to every event that happened in her life so

Approaches India and China took to achieve the fast development in economies

Introduction China has amazed the whole world at large because of the tremendous growth in its economy (Chow 45). Although China has a very large population, the Chinese people have proved to the entire world that they can be very hard working. Recent research shows that it comes second after the super powers United States of America in terms of the economy defeating countries like Japan, Russia, India and other developed countries.Advertising We will write a custom essay sample on Approaches India and China took to achieve the fast development in economies specifically for you for only $16.05 $11/page Learn More In the past 30 years, that is from the year 1979 China’s growth has been averaged to a rate of ten percent per annum, which shows a very great improvement. China is also the largest exporter in the world exporting a wide variety of commodities such as agricultural commodities like rice , machinery, electronics, nuclear weapons and textile s just to mention but a few. Other than just exporting it is the second largest importer of goods majorly from Japan, Taiwan and South Korea. China’s major imports include; oil, minerals, plastics, other machinery it lacks and many others. This therefore is enough evidence that China is good at trading with many trading partners all over the world. India on the other hand is following suit so as to better their economy. It is ranked fifth in the world in terms of economy (Chow 78). Despite the fact it is lower than china, it beats other developed nations like Germany. In the year 2006, the economy of India stood at 8.5%. This paper will therefore discuss the key factors that contributed to the rapid economic growth of China and India. Use of Foreign investment by China to improve the economy China has invested greatly in technology leading to production of high quality products. In a bid to achieve this, it imported advanced machinery, plant and production facilities from tra ding with other countries (Arora 98). The investment in these facilities advances the technology of the country hence improving the quality and quantity of products produced. China’s commodities are among the top most sophisticated products in the world hence attracting investors from other countries. It is because of this that the total factor in productivity of China has grown by 4 percent per annum. The government also made investments in the education system such that it involved technological training sessions (Dana 90). It emphasized on teaching of industrial method in schools. This was advantageous as it made the schools produce graduates who were endowed with technological knowledge. The resulting graduates therefore worked in the manufacturing sectors of the economy and thus led to the improvement of the quantity and quality of outputs (Hertel 204). Due to this the country was able to increase its exports and as a result improving the state’s economy.Advertisi ng Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Other approaches used by China to improve the economy Reforms in the agricultural sector Agriculture is among the top most sectors of China’s economy. Research has indicated that the agricultural sector of China results to 60 percent of its Gross Domestic Product hence being a determining factor of the state’s economy. China produces the highest quantity of rice in the world. It also produces other agricultural products such as wheat, cotton, maize and tobacco which is exported thus the government earning foreign exchange. The government policies The government implemented policies that were driven to achieving economic growth at a fast rate. The government reallocated resources in different sectors of the state hence making them run well financially (Hertel 132). After the allocation of resources the government privatized them so as to ensure efficient running and high productivity unlike when they were run by the state. Use of the available cheap labor China is a highly populated nation (Arora 78). Therefore the presence of the large number of the human capital which was of high quality was a great advantage to the government. This is because the people were willing to work despite the low wage rate that they were being offered. The government took this as an advantage and made great use of the available workforce so as to improve its economy. How India used entrepreneurship to improve its economy India is endorsed with people of different cultures. When these people meet, they lead to exchange of commodities hence entrepreneurship. This entrepreneurship was so intense that India was ranked number two globally in terms of entrepreneurship in the year 2002(Srivastava 2). This improvement was brought about by liberalization and the installation of good information systems. Through this, the country tried by all mea ns to attract investors so as to be able to compete well globally. For example, most nations of the world prefer outsourcing services from India, since they know they will definitely get quality and efficient work. The fact that India is among the developing countries, its economy is greatly influenced by globalization. Apart from introducing new business opportunities, globalization may lead to decline of a nation’s economy if does not favor that nation. India also has a big population which is mostly characterized by hardworking businessmen (Srivastava 1). The businessmen from India were able to spread all over the globe in a bid to do business. This improved the economy since the foreign exchange went back to the country hence increasing its gross domestic product which eventually led to the rapid growth in its economy. Some of the factors hindering entrepreneurship in India include; the lack of capital and support from the government, poor infrastructure and unwelcoming s ocial attitudes. So at to greatly improve the economy of India, these factors have to be put into consideration and dealt with immediately. The government can help in this by subsidizing the duty to be paid by the entrepreneurs. The government can also assist in improving the country’s infrastructural condition hence making business favorable.Advertising We will write a custom essay sample on Approaches India and China took to achieve the fast development in economies specifically for you for only $16.05 $11/page Learn More Conclusion A comparison between the two countries indicates that China seems to be more aggressive in terms of rejuvenating its economy as compared to India. This is easily depicted by the measures China undertakes so as to reform the economy (Dana 87). The other reason is the mere fact that China wants to overtake the United States of America which for a long time has been known to be the best economy in the world. If China c ontinues in the same way, there is a likely hood that it might overtake the United States of America. However, both countries can be said to have had rapid growth in their economies despite the different approaches they used. Both economies have impacts on the whole world at large though China seems to hold a bigger part because of the many investors it has. India’s development in their economy affects a great portion of the global nations because of its entrepreneurs that are distributed globally. Works Cited Arora, V. (2005). China’s Economic Growth: International Spillovers. Journal of Economics, pp. 52- 109. Chow, G. (2005). Globalization and China’s Economic and Financial Development. New York. Wadsworth Publishing. Dana, L. (2000). Creating entrepreneurs in India. Journal of Business Management vol 38, pp 86-91. Hertel, T. (2004). Global Impacts of China’s Economic Growth. California. Barnes Noble. Srivastava, K. â€Å"Benefiting from Social Entre preneurship and Social Business in India† 2009. Web.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This essay on Approaches India and China took to achieve the fast development in economies was written and submitted by user Kenna Murphy 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.

Hypoxia and Aviation

Hypoxia and Aviation Introduction The paper presents a review, analysis and a study on hypoxia faced by pilots at higher altitudes. The problems faced by pilots of commercial flights and the ways and means of dealing with them with the use of technology used in military planes will be the point of discussion and focus.Advertising We will write a custom assessment sample on Hypoxia and Aviation specifically for you for only $16.05 $11/page Learn More The usage of technology that minimize the conditions of hypoxia at higher altitudes and reduction of its negative effects on pilots who deal with the decision-making process while flying will be analyzed, and recommendations will be given. Literature Review Hypoxia and Flying One of the foremost things of the primary requirements of humans is air. The lack of air, most specifically oxygen leads to hypoxia. Initially, hypoxia has been reported at high altitudes on mountains by mountaineers and after the invention of aero planes, the p ilots and flight attendants are experiencing the effects of hypoxia and are feeling stressed. This can be termed as ‘decompression sickness’ (Aronson K.S; 1991, 26) and has been first recognized or occurred in 1841. According to Aronson K.S (1991, 26) French mining engineer M. Triger ‘noticed symptoms experienced by miners after working in deep mine shafts’ (Aronson K.S; 1991, 26). Number of workers had been prone to joint pains and became vulnerable to paralysis. However, the same sickness can be felt in a reverse manner, which can be known as hypoxia, when pilots fly in the air in a plane. While they fly in the air, they experience decompressed air and don’t have enough oxygen in the air, they breathe that is required for normal metabolic activities of the body. Though the effects of hypoxia are not the same in different pilots, but it cannot be ignored as the effects are noticeable. In this regard, Aronson K.S (1991, 26-27) mentions about Paul Ber t who is famous with the name ‘father of altitude physiology’. As per the information provided about Paul Bert’s observations, though the commercial flights flying at a height of around 20,000 feet, with the pressurized atmosphere, still there is a lack of pressure of oxygen as the pressurization is only enough if the aircraft flies at 8,000 feet. That means the commercial aircrafts are flying at a height of around 20,000 feet with the pressurized atmosphere that suits the altitude of 8,000 feet, which results in hypoxia in pilots and flight attendants.Advertising Looking for assessment on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Aronson K.S (1991, 28) explains that when one goes to 18,000 feet above the sea level, the atmospheric pressure will be reduced to half of the standard pressure of one atmosphere. That means the oxygen availability also decreases by half of the amount that is ava ilable at the normal atmospheric pressure at sea level. Consequently, the pilots and flight attendants who face this situation almost daily suffer from hypoxia (Aronson K.S: 1991, 25-28).1 Thus, pilots and flight attendants are mostly associated with hypoxia. Though the commercial air craft cabins do have enough induced pressure for the safety and health of passengers and crew, the hypoxia depends on altitude. According to Sharma L (2007), at an altitude of 8,000 feet, people in flight may experience mild hypoxia (Sharma L; 2007), even in the presence of the pressurized atmosphere. That means the pressurized atmosphere is lacking oxygen, and it is necessary to pressurize the flight interiors with oxygen. Exposure to hypoxia can be considered into two categories. Simply being exposed to hypoxia and working in the atmosphere of hypoxia. Pilots and flight attendants do work in the hypoxia atmosphere, and it may result in headache and loss of memory, which may affect future working stat us of pilots. The hypoxia may lead to stress, headache, backache, disturbed sleep, hearing problems and so on. Hence, ‘the nature and extent of physical/physiological problems and discomforts experienced by pilots’ (Sharma L; 2007) need to be examined, and a study is necessary to decide on the cause for the problems and difference from the normal state they are facing while in and after the flying hours. It is necessary to know about the variation of effects of hypoxia if any on the persons depending on their age and sex. As the effects of hypoxia may or may not present for a long-time, it is necessary to conduct tests on the pilots regarding hypoxia for each flight or in some airlines, they test pilots for the effects of hypoxia before each flight (Sharma L: 2007)2 so that necessary medication could be given.Advertising We will write a custom assessment sample on Hypoxia and Aviation specifically for you for only $16.05 $11/page Learn More How ever, according to Good W.A (1991, 104) the performance of the pilots might be degraded with ‘both prescribed and over the counter medications as well as by the medical conditions for which they are taken’ (Good W.A; 1991, 104). Normally, the medicines of hypoxia are sedative, tranquilizer or antihistamine. These medicines make a pilot ‘much more susceptible to hypoxia’ (Good W.A; 1991, 104) and hence it is necessary for the pilots to minimize the use of over the counter medicines. In addition to the above precautions alcohol can impair the pilot even many hours after its consumption and digestion due to hangover. The impairment of pilot may cause flight accidents and some of the major accidents give ground to the argument that hypoxia may be the reason for the inability that caused the accident. For example, two accidents at Dallas and Fort Worth involving Delta Airlines alongside the accident in Denver by the flight of continental airlines proved that the pilots are the cause for the fatal happening, and hypoxia may be the reason for it. Another accident in Washington DC due to Air Florida flight, alongside the crash of North West flight in Detroit could be some more examples, where pilots are blamed for the happenings, and hypoxia may be a cause for it. Hence, one cannot rule out the role of hypoxia in flight crashes as it impairs the pilots’ ability to deal with the situation (Good W.A: 1991, 104-105).3 Pressurized Atmosphere and Hypoxia As hypoxia affects the ability of the pilot to deal with the adverse situations, modern aircraft are capable of operating at very high altitudes. The capability is due to the attempt to prevent hypoxia with the pressurized atmosphere. However, due to any unforeseen circumstances as if ‘sudden loss of cockpit pressure presents a life threatening hypoxia situation, requires an immediate response’ (Lindeis A.E, Fraser W.D Fowler B; 1997). To deal with the above-mentioned situatio ns of rapid decompression situations that lead to hypoxia, the modern military aircrafts are having a system that gets the plane down to deal with the decompression and can be provided for commercial aircrafts also in the future.Advertising Looking for assessment on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More The rapid get down of the plan in the condition of decompression is to minimize the effect of or slow down the onset of hypoxia by descending to a safe altitude, where the decompression at higher altitude could be controlled. To do this with commercial aircrafts also, a series of experiments had been done to reduce the impairment of pilot performance due to rapid de-compression. However, there exists severe hurdle to these experiments as to measure the performance of a pilot in these circumstances is very difficult as it depends on physiological state of the pilot. To minimize the physiological problems of pilots, the system has two features. One is related to breathing and another to put enough pressure on the body. The breathing system is known as positive-pressure breathing (PPB) through a mask. The second feature that consists of a jerkin with inflatable bladders puts pressure on limbs, chest, lungs and abdomen thus minimizing the effect of decompression or hypoxia. The PPB is t o delay the collapse of blood circulation system and hypoxia as well. The main hurdle to extend the usage of this system to commercial flights also is because it is necessary to provide these suits and masks to all the passengers, which is commercially not viable. However, the present review is regarding the effect of hypoxia on pilots, its consequences and ways and means of minimizing or avoiding it, the ‘first aim of the experiments was to determine the degree of performance impairment under rapid decompression and the extent the PPB can help in reducing it. The hypoxia may result in affecting the ‘visual serial choice reaction time (SCRT) task of the pilots, which may prove fatal and thus immediate reduction of hypoxia is necessary to avoid accidents in commercial planes. In addition to that Lindeis A.E, Fraser W.D Fowler B (1997) explains that the possible causes of performance deficit indicate hypoxia as it decreases the arterial blood oxygen saturation. This decre ase in saturation may result in slowing of reaction time for pilots and may result in accidents. Hence, hypoxia and its effects are to be studied to provide more comfortable and safety measures for pilots to reduce the contexts of performance deficits while flying (Lindeis A.E, Fraser W.D Fowler B: 1997).4 Conclusion: The literature review concludes that the hypoxia results in impairment of the pilot and may affect his/her decision making capability. Hence, it is necessary to contemplate about the safety measures that avoid the effects of hypoxia on pilots and minimize the negative effects on decision making capability. Methodology The methodology involved in this paper is a qualitative analysis of the topic with the help of available literature. The analysis has been supported by literature review, which provided enough background for the aspects that should be considered during analysis. The review starts from finding of effects of hypoxia to the effects of it on pilots and fligh t attendants and the measures that need to be taken to minimize or reduce it. The technology that helps in minimizing the effect of hypoxia and the possibility of usage of it has been reviewed, and the analysis will take place according to the aspects and conclusion of the review and as per the necessities of pilots, which help in reducing flight mishaps and improve air safety. Analysis/Discussion As far as the effects of hypoxia are considered, the ‘provision of the pilot against high sustained accelerations, against hypoxia’ (AEAT; 1993, 2) needs to be considered. The decompression effects at high altitude could be minimized by the technology that provides breathing gas. The breathing air can be provided from ‘engine bleed air. To do this, ‘molecular sieve oxygen generator, which works on pressure breathing on exposure to acceleration( (AEAT; 1993, 2) is necessary as it provides not only oxygen necessary to breathe comfortably but also the minimum pressure necessary for the body to be normal at high altitudes, which result in decompression. That means to avoid the state of decompression and lung collapse; there should be a system in the cabin that provides pressure and oxygen respectively. To do so, protective garments are necessary as the mask provides oxygen for lungs and garment exerts enough pressure on the body in a decompressed atmosphere. In addition to that it is necessary to provide inward relief to the pilots as they experience suffocation due to lack of supply of oxygen. The cabin and other places in an aircraft need to have systems to replenish the back-up oxygen in case of decompression emergencies as the pilots may not take the right decision while they suffocate. The commercial plane makers can take a cue from the systems in war planes that provide ‘higher degree of protection and mobility’ (AEAT; 1993, 3) for the pilots. In this regard AEAT (1993, 3) explains about liquid conditioning to full coverage ant i g trousers, necessary for the pilots to face decompressed and hypoxia situations. However, the system and the garments provided to the pilots should be selected and made after taking into consideration functional characteristics. They are ‘operational life support, operational escape and survival, and personal’ (AEAT; 1993, 3). The operational life support should enable the pilot to take decisions regarding flight safety, which means the safety of passengers alongside self. The operational escape survival should consider the aspects that help the flight crew and passengers to escape in case of emergency. However, in commercial flights, operational life support is necessary as it is difficult to train the passengers regarding escape and survival attempts. However, operational life support equipment could be provided so that it could help the passengers also in the case of emergency. However, as the paper is about hypoxia and its effects on pilots and their decision mak ing, the operational life support for the pilots is of utmost importance. The oxygen masks and pressure breathing garments can provide with the necessary operational life support necessary in the case of decompression and hypoxia faced by the pilots (AEAT: 1993, 1-3).5 This is due to the fact that at high altitudes, ‘the human body experiences hypoxia when it tries to adapt to lower atmospheric pressure and reduced oxygen level as well’ (Penetar D.M, Friedl K.E; 2004, 272). This results in increased heart rate, cardiac output and respiration rate as it is necessary to ensure sufficient supply of oxygen to the body parts. To ensure that supply the above-mentioned activities will increase, and they return to the normal when the atmospheric pressure returns to normal. The changes in respiration, heart output and blood circulation result in change in the mood and it affects the physical and mental performance of the pilots. Hence, the safety measures and systems that are to be included in the flights should work in a manner to normalize the above mentioned increased activities. The increased heart output and blood pressure also results in a decrease of endurance of the body, and the consequence is the need of exercise performance. The decrease of endurance decreases the situation that allows to work and yet times may demand the days and weeks of exposure to enough oxygen. Hence, after every flight, it is necessary to examine the pilots for the status of endurance, physical fitness and mental stability as well. If this can be seen as an exaggerated response, they should be checked for the above features once in a stipulated period of time. This is because, Penetar D.M, Friedl K.E (2005, 273) explains that psychomotor performance would be degraded with the ascent of altitudes above 4,300 meters, and the accuracy of the decision-making process would be impaired. Penetar D.M et al (2005) further continues that there would be a delay in reaction and signif icant impairment of cognitive performance, which is necessary for the pilots while taking decisions during flight. One measure that can be taken to reduce hypoxia though not up to the desired extent is not to ascend rapidly to altitudes above 1,800 meters (6000 feet) as that may put the individuals at risk and if the pilots are put at risk whole flight will be at risk. Hence, the intensity of effect of hypoxia depends on rapidness in the initial ascent, and if it could be reduced the intensity of the effect of hypoxia also could be reduced. As a result, alongside the systems that deal with decompression and lack of oxygen, the rules and regulations should stipulate the slow ascent to delay and minimize the effects of decompression and hypoxia. Penetar D.M, Friedl K.E (2005, 274) further explains that aviation equipment needs to be designed to provide enough haemoglobin saturation to pilots. This could be helpful in hypoxic environment and these systems are widely used only in milita ry planes, but not in commercial flights. Hence, these systems need to be modified according to the usage of commercial flights and offered to the pilots so that they could deal with hypoxic conditions successfully and this also helps them to remain fit even after continuous and frequent exposure to hypoxic conditions. The systems that deal with decompression sickness also should be considered as ‘Air Force over the past 20 years, with thousands of simulated altitude exposures revealed a 41 percent incidence of decompression symptoms’ (Penetar D.M, Friedl K.E: 2005, 272-275).6 Conclusion The hypoxia is the worst situation that any pilot can face while flying and can be considered as a major concern in aviation industry. As the safety of the passengers depends on the decision making capability and physiological condition of the pilot and flight attendants, it is necessary to have systems that deal with hypoxia and decompressed atmosphere. The systems should provide opera tional life support to enable the pilot to perform the duties in conditions of decompression and hypoxia. The review and analysis concluded on the facts of development of systems that provide oxygen and pressure as well in the high altitudes for pilots. Recommendations It is necessary to provide oxygen and pressure in the cabin of the pilots to increase their decreased endurance due to decompression and hypoxia. To deal with hypoxia, the systems should provide oxygen for breathing. To deal with the decompressed atmosphere, the systems should provide pressure in the cabin so that the pilots can work in normal atmospheric pressure conditions. It is necessary to examine the pilots for their physiological conditions once in a stipulated period to find the negative effects of hypoxia on them if any. There should be institutional arrangements in aviation industry to deal with the decreased physical endurance of pilots. Reference List AEAT. (1993). SAFE Europe Symposium 1993. Aircraft En gineering and Aerospace Technology. 66 (1). Pp.2-4. Aronson K.S. (1991). Flight: The Physiological Stresses. In Sheila R. Deitz and William E. Thoms, eds., Pilots, Personality, and Performance: Human Behavior and Stress in the Skies. New York: Quorum Books. Pp. 25-28. Good W.A. (1991). The Post-Deregulation Pilot Job Market: Pilot Error or Personnel Economics?. In Sheila R. Deitz and William E. Thoms, eds., Pilots, Personality, and Performance: Human Behaviour and Stress in the Skies. New York: Quorum Books. Pp.104-105. Lindeis A.E, Fraser W.D Fowler B. (1997). Performance during Positive Pressure Breathing after rapid decompression up to 72000 feet. Human Factors. 39(1). Penetar D.M, Friedl K.E. (2004). The Physiology of Performance, Stress and Readiness, in James W. Ness, Victoria Tepe, and Darren R. Ritzer (ed.) The Science and Simulation of Human Performance: Advances in Human Performance and Cognitive Engineering Research. Volume 5. Emerald Group Publishing Limited. pp.267-305 Sharma L. (2007). Lifestyles, Flying and Associated Health Problems in Flight Attendants. Perspectives in Public Health. 127(6). Footnotes 1 Aronson K.S. (1991). Flight: The Physiological Stresses. In Sheila R. Deitz and William E. Thoms, eds., Pilots, Personality, and Performance: Human Behavior and Stress in the Skies. New York: Quorum Books. P. 25-28. 2 Sharma L. (2007). Lifestyles, Flying and Associated Health Problems in Flight Attendants. Perspectives in Public Health. 127(6). 3 Good W.A. (1991). The Post-Deregulation Pilot Job Market: Pilot Error or Personnel Economics?. In Sheila R. Deitz and William E. Thoms, eds., Pilots, Personality, and Performance: Human Behaviour and Stress in the Skies. New York: Quorum Books. P.104-105. 4 Lindeis A.E, Fraser W.D Fowler B. (1997). Performance during Positive Pressure Breathing after rapid decompression up to 72000 feet. Human Factors. 39(1). 5 AEAT. (1993). SAFE Europe Symposium 1993. Aircraft Engineering and Aerospace Technology. 6 6(1). Pp.2-4. 6 Penetar D.M, Friedl K.E. (2004). The Physiology of Performance, Stress and Readiness, in James W. Ness, Victoria Tepe, and Darren R. Ritzer (ed.) The Science and Simulation of Human Performance (Advances in Human Performance and Cognitive Engineering Research, Volume 5). Emerald Group Publishing Limited, pp.267-305

Banking Regulation and Risks Coursework Example | Topics and Well Written Essays - 1500 words

Banking Regulation and Risks - Coursework Example The banks are now on a constant quest to out-wind the effects of the global financial crisis and encounter a new business era. The change in the regulatory framework of banks has been observed globally. The practices of the banks of increased regulatory requirement have are hindered the banks from progressing (Ernst & Young, 2011). Hence, this report aims to highlight the effect of the global financial crisis on the regulatory framework of the banks. It will signify the need for the banks to alter the global banking landscape. This has become mandatory so that the system can run smoothly and performance can be optimized while developing capability to sustain any such economic shocks in future. SECURITIZATION The financial engineering based process of pooling certain types of assets so that they can be converted into interest bearing securities is called securitization. The asset in turn derives interest and principal payment for the individual who has purchased the securities (Jobst, 2006). This concept began in 1970’s in the US. The agencies which were backed by the US government pooled the home mortgages. By the 1980’s other assets which were primarily important for pooling were gathered and since then the market of securitization grew dramatically (Jobst, 2006). There was incremental growth in the residential mortgage funding through residential based mortgage securities (RMBS) in UK moved to ?257 billion from ?13billion (Wainwright, 2010). Following trend was observed across the years: (Wainwright, 2010) With the global financial crisis the stability of this concept was also widely impacted. This impact originated from the credibility of securitization conducted for the sub-prime mortgage loans. The poor credit origination, lack of regulatory efficiencies and inadequate methods of valuation proved to hurt the securitization severely. UK suffered as nearly 70% of the RMBS were given to foreigners who reverted to local markets (Wainwright, 2010) The concept of Securitization is also known as financial innovation. The need for securitization was realized to supply the customers with securitized bonds which were backed by sufficient assets. The surety that such bonds will never be subject to bankruptcy was a major factor which attracted the individuals towards it (Davis, 2011). USEFULNESS OF SECURITIZATION AND THE FINANCIAL CRISIS Businesses adopted securitization as source of funding for business on the basis of assets held by them. Banks also allured to the usefulness of securitization as it reduced the pressure of minimum capital requirement imposed as regulation (Jobst, 2006). Securitization was widely used in the US before the financial crisis. At the time of the global financial crisis it was observed that the asset based securities were primarily in the limelight of the investors’ portfolio. The securitization tool was asset backed and so it was widely used as collateral of the sale and repurchase agreements. T he asset based securities were also used for the issuance of the asset backed commercial paper. However, the benefits of securitization were enchased unduly that resulted in the crises. During the financial crisis banks were involved as financial intermediaries. When the banking system collapsed these instruments also collapsed as the banks couldn’t sustain the complex engineering introduced for excessive use of the process. This