What is debt? In general, debt is obligation that is needed to be repaid in the broadest sense of the word, but it does not exactly require a monetary value as it is referred to most of the time. It can be paid in the form of favors or other reciprocative gestures that may give rise to opportunities for both the creditor and the debtor. A interesting analogy would that be of the debt that the United States owes to China totaling to the amount of $1.268 trillion dollars which was incurred by the U.S. in the past 3 years. As of August, 2013, China presently owns 23% of the all the foreign debts that the United States owes other foreign countries, taking into account a total of $5.59 trillion dollars which America owes other countries. For the last 3 years now, China has been holding on to more than $1 trillion dollars of U.S. Debt, acquired by the Chinese government through buying and selling of Treasury notes from the American government.
So, how did the United States end up being indebted to China in the first place? As it turns out, China was more than willing to buy into a large part of the U.S. Debt. China’s opportunity to buy into U.S. Treasury notes strengthens it’s economic growth by keeping the Chinese yuan slightly weaker than the dollar which keeps Chinese products that are exported to the U.S. Market cheaper and more competitive than the products made in the United States, creating more jobs for the Chinese economy. It does come as a surprise on why the United States had allowed China to buy 23% of it’s foreign debt. The reason was on how Chinese products were priced lower than American made products as the American people were very easily enticed by low consumer products.
The United States sold it’s debt to China for reasons of economic growth, enabling it to fund their federal government programs which also keeps U.S. Interest rates low and manageable. Despite of the obvious economic advantages that is being beneficial to both countries, it seems that China is now emerging as a strong world economy, tipping the balance of economic power to it’s own advantage. What can China possibly gain from this? China tries to control the strength of it’s currency, the yuan, so that it is slightly weaker than the dollar. Part of China’s economic strategy is to keep it’s export prices lower which gives it a more competitive edge over other manufacturing and exporting countries. It can do this by controlling their currency at a fixed rate compared to other international currencies that fluctuate along with the world economy.
It has been the general practice of Chinese business people to buy more when the prices are low and they had been doing these for hundreds of years even before the time of the emergence of the Western economies. When the trading price of the dollar falls, that is the time that the Chinese government uses some of it’s extra accumulated dollars to buy treasury notes, which in effect, increases the demand for the U.S. Dollar, thus increasing it’s value. Added to that, in conjunction with China’s agreement with the U.S. Government, China will redeem U.S. Dollars for their yuan with a fixed rate. With this precept, a country like China must have a vast supply of American dollars to be able to achieve such a feat.
China owes their economic growth for being a good accountant, and how to become an accountant means understanding the principle of how debt, in this case, how foreign debt can work in favor for your country’s economy. You may say that China has now become America’s biggest creditor, which gives China an obvious political and financial leverage apart from the rest of the world as it holds America’s debt in it’s hands. China has even given some suggestive inclinations of selling part of it’s debt holdings which can trigger a rise of the interest rates that will slow down the economic growth of the United States. The frequent fluctuations of the U.S. Dollar also affects the debt that China holds over the U.S. Economy as it can raise or lower the value of the treasury notes that it has bought.
China will not sell off all of America’s debt as it knows that it will also affect their ow economy as well. This sort ODF actuation will lower the demand for the U.S. Dollar and will cause a global financial crisis much worst than the recent 2008 financial collapse, which not only will affect China and the United States, but the whole world as well. China’s ability to hold the United States in regards to it’s debt is working so well that it has resulted in an annual 10% growth for the past 3 years. In fact, it is now the 3rd largest economy in the world trailing behind the United States and the European Union. China is now the worlds largest exporter in the world to date and despite a low per capita income of only $9,100 dollars a year per person compared to that of $ 49,000 dollars a year for a person working in the United States. This low salary standard attracts foreign manufacturers to China, allowing these manufacturers to pay lower salary rates that optimizes production and profit.
I have never had a great smile. Even though my teeth were in great condition, they were crooked. It was not really all that bad, but I was extremely self conscious about it because all of my friends had perfectly straight teeth. I decided after getting a job that I was going to see a san jose orthodontist to see if there was anything that could be done about my smile. I knew that kids are the typical candidates for braces, but I had seen an occasional adult with a set of braces on too.
While I was not looking forward to walking around with a mouth full of metal, I was looking less forward to not having a nice smile at all. I was still single at this time, and I had a feeling that my lack of a smile was one of the main reasons for that. What guy wants to get to know a girl better when she doesn’t smile very much at all. Read more…
My father and I have some crazy adventures sometimes. We’ve gone scuba diving in the Great Barrier Reef, we’ve climbed to the top of Mount Everest, and we’ve even skydived together. I guess the thrill for adventure runs in our blood. With all of our great adventures, we also have our fair share of injuries. While running with the bulls, I got a broken ankle, and my father sprained his arm while para sailing. We both pulled a back muscle while going through a popular obstacle course and had to visit a chiropractor in walnut creek.
It’s amazing that out of all the adventures that we had, a simple obstacle course was the thing to give us back problems. Read more…
Learning how to become an ultrasound technician is a great path to starting a career in the medical field. Of course, it does require a certain amount of education. This should in no way deter you from pursuing this amazing career because as you will see, the rewards are awesome.
The healthcare system of any country is normally weighed down by a lot of problems which runs the whole scope from funding to the number of available physicians. Finding a middle ground is an almost impossible task. New Zealand’s healthcare structure while far from being perfect, places high on the list of efficient health systems.
Martin Shore generously contributed this post for us. He is the main author of Ultrasound Technician Training and also writes regularly for other sites like Radiology Technician Schools in California and Ultrasound Technician Course and many other topics. He has done extensive research on the impact of diagnostic procedures to healthcare delivery systems and is quite enthusiastic about sharing his discoveries. His views are expressed in this article although it’s not exactly the same as the views of this site’s owners.
The secret of its seeming success probably lies in the hybrid design. This form has been adopted in an effort to marry both the budget requirement and the health needs of the general population. The majority of the expenses is shouldered by the government but it is helped in a minor way by private payments.
The original design for NZ’s healthcare was universal in nature. Over time, experience dictated that in order to sustain the program and still be able to offer quality care, the leaders had to find means to help it along. And so, the mixed public-private system of delivering care was born. The creation of other governmental agencies like the Accident Compensation Corporation (ACC) also helped to redirect those requiring specialized care. The ACC’s reach takes on expenses for all accident-related cases, even extending coverage for tourists who are visiting the country provided of course, that they have legal papers with them.
The current system can be considered superior if compared side by side with that of the US. Right now, it’s too early in the game to assess what kind of performance the new health care bill, the ACA, will have on the US health system but judging from the ruckus that the political parties are raising up, it might take awhile to see it fully in action. Now that’s one system that’s better funded, the question is, if their political parties will give it half a chance to work.
The strength of NZ’s health system is that it covers a broad range of medical services that are offered free through public hospitals. Its weakness involves the provision of services that are costly, like diagnostic imaging or cases that require major operations. This usually involves being on a long waiting list that could take awhile to be called on, unless your condition becomes critical in which case, you qualify for emergency care.
It is because of this persistent concern that a back up system of health insurance plans came up. These policies assume the cost of operations and treatments for enrolled individuals. Other complimentary programs include PHARMAC, a government agency that takes over the cost and regulate the use of medicines. They work on co-payments but offer subsidy for certain groups like those who have community health services card or individuals with higher health plans. Free emergency services are also available through the support of charities and a combination of public and private funds.
It is a fact that there’s still are lot of ground to cover to reach the status of having a truly efficient healthcare system. But what NZ has right now generally works and can be accessed by majority of the population. To have a system that allows you to get medical care and not have to worry if you have the funding or insurance for it is a definite advantage. It’s possibly the closest that you can get to an equitable health care system.
Socialism is a copout, as we all know. The free market should be what defines our options in this world – and never was there a greater champion of this idea than the capitalists of America. But recently, US President Barack Obama has forced the acceptance of a universal health care option.
This is going to bloat their already endangered government, despite the fact that it will create number of jobs in the healthcare and nursing fields. The current state of New Zealand’s healthcare system is woeful – the public is forced to pay for what the private sector should be able to provide. Sure, there are private clinics at the moment if your wait time is too long in the national system, but the burden this places on taxpayers who have no need for public medicine is incredible.
Think of the number of jobs that could be created by privatizing our entire system, the way the United States has always done. I’ve always been in favor of job creation, especially in the healthcare field – nurses are some of the most diligent workers that exist in any field, whether they’re a certified nurses aide or a psychiatric nurse practitioner. We end up hurting the public by making them wait, in some cases, years to get a simple echo that could be done within a week by a private healthcare provider. The main argument, though, is about job creation. Socialized medicine provides some health nursing jobs, absolutely, but they are all at the taxpayers expense. As everyone wants a sweet cushy government job that it’s impossible to get fired from, we wind up with bad nurses who don’t care about their patients. Not all of them operate that way, but enough of them do that it’s noticeable in the system. I’m not talking about them having a bad day, but consistently poor care – especially among nursing staff – is an epidemic. Many of these nurses would have been fired if they worked for a private contractor, which would increase the demand for qualified nurses, and increase the pay for all of them. Do you know what the average salary of a nurse practitioneris? Far, far more than it should be, for the level of care they’re providing – and all at the taxpayers expense!
Just because we can now accept private care as an option doesn’t fix the system, however. The way these problems begin cause a spillover effect from the public to the private sector, causing a flood of underqualified and undermotivated nursing staff.