Ethical Theory Assignment Example | Topics and Well Written Essays - 500 words - 1

Ethical Theory - Assignment Example this puts Kuwait as the most favorable location in the Islamic world as compared to Dubai owing to its central location and accessibility to the majority of the Islam entrepreneurs. Most of the Arab banks and the European counterparts are located in Kuwait, it is therefore, appropriate for Dubai to import its financial center to Kuwait (Economic and Political Research Dept, 2009). It is worth noting that, majority of the Islamic banks do the importation of the convention financial products from most of the European markets and other parents of the world. The fact that most of the inhabitants of the Middle East engage in trade, makes it suitable for Dubai to import its financial center (The University of Virginia, 2009 p.370). It is evident that, unlike Dubai, Kuwait does not suffer numerous challenges with regard to the development of its financial centers. It is worth noting that, Kuwait has robust and developed financial sectors with greater scope of development unlike Dubai. The fact that Dubai has limited domestic and corporate sectors that reflects on the shareholdings of the state, this make it feasible for importing its financial center (Great Britain. D ept. of Trade & Great Britain. Dept. of Industry, 2010 p.430). It is imperative that Kuwait has sufficient human capital unlike Dubai that is characterized by lack of skilled staff hence inability to develop its financial centers. The problem of developing the financial centers is compounded by the magnificent government sector in Dubai. It is also important to note that, Kuwait has a robust financial cum business environment that forms the basis of a successful financial center. In this regard, Kuwait does well on tax remuneration with respect to the stipulated government policies. The country also has extensive expatriate staff who can offer the needed advice accordingly (University of Michigan, 2010). By pooling its financial centers in Kuwait, Dubai will be able to expand its global sovereign assets and

Bretton Wood System Coursework Example | Topics and Well Written Essays - 1250 words

Bretton Wood System - Coursework Example The countries had control over their own monetary systems. The Bretton Woods system was very effective in these situations. However, currently, the environment has changed. The economies have united and markets have become more liberalized. As a result, the stability of the economy depends on the global economy. This explains why the financial crisis of 2008 had a major effect on different countries across the world. In the meantime, many of the countries are interconnected. Therefore, one crisis affects different economies. As a result, it is the high time that the country transforms rather than reform the institutions that were originally part of the Bretton Woods system. This is in order to put up mechanisms that will fit with the new global challenges. Moreover, the new strategies will be future oriented, an aspect that will create an opportunity for different countries to set up policies that will protect their vulnerable institutions. This will play a significant role in reduci ng the negative impacts that result from increasing levels of globalization. â€Å"For many people in the developing world, the international finance institutions of the Bretton Woods system are yet another form of neocolonial exploitation.† Many of the funds being given to these countries are not in form of grants but, loans. These countries are already struggling with internal issues. Most of these loans are being used to support the operations of the governments such as paying salaries. This has increased the burden to the current generation and the future generation that will live in these countries. As a result, the helping hand is becoming a curse to even the unborn. Little change is being seen when using the current systems. As a result, it is the high time that the institutions transform in order to serve the changing needs of the people in the world. Since the launch of millennium development goals a decade ago,