USA Global Involvement since the Spanish war to Present - 2200 Words

USA Global Involvement since the Spanish war to Present (Coursework Sample) Content: USA Global Involvement since the Spanish war to Present.NameInstitutionCourseTutorDateAt the time of the Spanish American war, the United States went from relative isolation to increased global involvement because of: 1. Cuban struggle for independence, 2. The Second World War. 3. USSR involvement in Vietnamese conflict. The consequences of the increased global involvement on the American society were 1. Increased industrialization in America. 2. Varying opinions and decreasing patriotism.The desire by the USA to help Cuban rebels fight for their independence from Spain created a conflict of interest with Spain. Initially, the USA was keen on not interfering with external affairs involving other countries, especially from Europe. "In February 1895, the struggle for independence in Cuba beganà ¢Ã¢â€š ¬Ã‚ 1. The Spanish were very brutal in the means they used to crush the rebellion. The USA, as was its policy, thought of turning a blind eye on the situation in Cuba. H owever, when it learned of the atrocities committed by the Spaniards in the Cuban struggle for independence, the Americans felt remorse for the Cubans. The popular chorus among the USA populace was an intervention to the Cuban strife. The USA sent some of its warships to Cuba to protect USA citizens and their property from the civil unrest. "The motive for the USAà ¢Ã¢â€š ¬s intervention on the Cuban rebellion grew stronger following the unexplained sinking of USA ships at the port of Havanaà ¢Ã¢â€š ¬Ã‚ .[William McKinley: The Acquisition of the Philippines. Retrieved from ] [Making of America. Retrieved from http://ebooks.library.cornell.edu/m/moa/] Due to the USAà ¢Ã¢â€š ¬s involvement in the Cuban uprising, Spain declared war on 24th April 1898 . The USA responded by declaring war on Spain on 25th April 1898. What followed was a one- sided war between the USA and Spain. Spain was not well prepared for the war and it lacked the resources to ship its troops overseas to the figh t the USA army. A good example involves that of the USA navy of the invasion of the Spanish territory in the Philippines. "Under the leadership of Commo. George Dewey, the USA was able to take over Manila Bay in the Philippines after a few hours in May 1st 1898à ¢Ã¢â€š ¬Ã‚ . Spain lost the war and the USA took control of overseas territories such as Cuba, Puerto Rico and the Philippines- formerly belonging to Spain. Spain reduced its involvement in international affairs. On the other hand, USA came out as a powerful country and its desire to acquire more overseas territories went a notch higher.[The Philippines. Retrieved from/acad/intrel/mkinly3.htm] [library of congress digital sources Retrieved from /library/libarch-digital.html] The Second World War pushed the USA to be involved in global affairs despite the isolationist policy adopted between 1934 and 1939 . After the First World War, policy makers were divided between taking part in global affairs and staying in isolation. Isolationists did not want anything to do with the war in Europe while the interventionists wanted the USA to join its allies in fighting off the Germans and their allies5. In the meantime, USA neighbors, Canada, had declared war on Germany almost immediately after the war began. The USA congress was still divided on whether to join the war or stay away. "President Franklin D. Roosevelt urged the Americans to be democratic and supply, lease or loan war machinery to its allies involved in the war in Europeà ¢Ã¢â€š ¬Ã‚ . That decision marked the involvement of the USA in the WWII from the sidelines. USA supplied Britain with war equipment but not military personnel support.[Berlin 1945 Retrieved from /berlin.htm] [Roosevelt Corollarg Retrieved from /doc.php?flash=falsedoc=56page=transcript] The sinking bombing of Pearl Harbor by Japanese military compelled the USA to join the war officially 7. Similar to any other powers during that time, Japan wanted to expand its territory into As ia. It wanted to invade Thailand, the Philippines, and Malay Peninsula. The only barrier between Japan and its ambitions was the USA. The USA was still in control of the Philippines and it had been preparing its military for possible aggression by the Japanese. Japanà ¢Ã¢â€š ¬s motive was further advanced when the USA decided to "cut off basic supplies from Hawaii to Japanà ¢Ã¢â€š ¬Ã‚ . The USA responded to the Pearl Harbor attack by sending its Air Force to Tokyo. Initially, Japan had thought that it was out of reach from allied forces aircraft due to the long distance over the sea. True to their estimation, 15 warplanes from USAà ¢Ã¢â€š ¬s fleet crashed before they could get to china for refueling. USAà ¢Ã¢â€š ¬s involvement in the war stopped Japanà ¢Ã¢â€š ¬s ambitions to take over Australia.[Japanese view of Pearl Harbor. Retrieved from ] The supremacy battles between the USA and USSR during the cold war led to the USAà ¢Ã¢â€š ¬s involvement in the Vietnamese war. After c hasing the Japanese out of Vietnam, Ho Chi Minh formed the League of Vietnam with the support of China and USSR . The main purpose of the Viet Minh was to fight off possible Japanese aggression and the French. The French moved to the south of Vietnam and set up its leader, Bao, against the North in a bid to reclaim it. They were defeated and had to flee to Europe. The former Vietnam was now split into North Vietnam and South Vietnam. "The North was a communist republic allied to China and USSR, while the south went Capitalist and signed a protection treaty with the USAà ¢Ã¢â€š ¬Ã‚ 8. The USA provided South Vietnam with technical military support and sophisticated weapons.[France surrenders. Retrieved from /francesurrenders.htm] When John F. Kennedy sent officials to assess the rebel situation in South Vietnam, the team recommended a buildup of the American military to confront the rebel group, Viet Cong. After Kennedyà ¢Ã¢â€š ¬s assassination, Lyndon Johnson took over the preside ncy. In 1965, Johnson made the decision to send combat forces to South Vietnam when it emerged that the communist rebels could topple the government. Johnson sent more reinforcements to South Vietnam in 1965 and 1966. Other countries such as New Zealand, Australia and Thailand also sent troops albeit in smaller numbers. Warring parties declared free fire zones that were supposed to be evacuated by all civilians. The USA used B- 52 aircraft to bomb the regions, making them inhabitable in the process. With the support of China and USSR, North Vietnam forces and the Southern Rebels marched on. After much fighting, the North and South came to a peace agreement in 1975. USA had to withdraw troops due to public outcry and widespread military frustration. Both countries were unified in 1976 to form the Socialist Republic of Vietnam.[John F.Kennedy Inaugural Address. Retrieved from http://avalon.law.yale.edu/subject_menus/inaug.asp] [Gulf of Tonkin Resolution Retrieved from http://avalon.la w.yale.edu/20th_century/tonkin-g.asp] Americaà ¢Ã¢â€š ¬s involvement in global affairs led to increased industrialization in the country. Involvement in global affairs opened new opportunities for America. Formerly, the country was mainly agricultural and less manufacturing. However, with involvement in global affairs, came the opportunities to manufacture goods for the increased market. The Chinese Exclusion Act opened up China for any worthy contestant. The USA was willing to take advantage of Chinaà ¢Ã¢â€š ¬s large population and ready market for its goods. In turn, the number of industries back home grew tremendously. The USA started refining oil and exporting it to Japan and China. Pearl Harbor was an integral part in the trade between the USA and Asia. The USA had managed to take away the territory from the Spanish after beating them in the Spanish- American war.[The Social Gospel Retrieved from http://legacy.fordham.edu/halsall/mod/rausch-socialgospel.asp] [Chinese Exclusio n Act retrieved from /acad/intrel/chinex.htm] Industrialization was both a blessing and a curse to the American people. The concept changed the social setting of the American society. "The purchasing power of a man determined his health and the wellbeing of his familyà ¢Ã¢â€š ¬Ã‚ 11. Thanks to the immense wealth accumulated by industrial countries, laborers could now afford commodities that were initially the preserve of the rich. Americans began to leave their villages and farms in search of better employment opportunities in the cities where the industries were in plenty. However, Americaà ¢Ã¢â€š ¬s involvement in the Vietnamese war dealt a blow to the countryà ¢Ã¢â€š ¬s industrial fabric 11. Suddenly, the authorities realized that the number of industries that could produce arms for use in Vietnam were very minimal. The government converted most food industries into arms industries. Before long, the country had to institute food rations among its populace. Americaà ¢Ã¢â€š ¬s involvement in global affairs had led to food rationing and the consequent suffering of the American society.Americaà ¢Ã¢â€š ¬s involvement in global affairs created a sharp division between those supporting the move and those that were opposed to it. Americaà ¢Ã¢â€š ¬s involvem...

Need For Islamic Banking - Free Essay Example

Recent study published in United States stated that the growth rate of world Muslim population is higher than the world non Muslim population and it is believed and projected that it will be the quarter of the world population near 2030. Pakistan, which has seen a rise in radical Islam in current months, will chase Indonesia as the worlds most populous Muslim nation. Majority of the people seeking to invest into the Hala mode of financing and people fad up with the traditional financial system where institutions based on interest. Moreover, Islamic financial system based on the principal of Sharia, which mean they believe and follow the Islamic school of thoughts â€Å"prohibition on the payment and recipient of interest† this is the basic reason that make difference between the Islamic financial institutions and their Western counterparts. Government Regularity: Pakistan was among the three countries in the world that had been trying to implement interest free banking at national level. Islamic Banking is one of the rising field in global financial market and having the potential all around the world. The Islamic Banking is one of the rising field in global financial market and first full flag Islamic Banking Department was established under the supervision of State Bank of Pakistan (SBP) in 2003 and having task to promote or established financial help according to the Sharia Complaint. SBPs Islamic banking polices allow the people to establish their financial relationship with Islamic banks according with their Islamic beliefs. SBP feels the responsibility for the promotion of Islamic Banking and they work on three strategies. Allow the conventional banks to establish their Islamic banking branches throughout the country. Support the private sector to establish Islamic banks. Enforce the existing conventional banks to open stand alone Islamic banking branches. Before commencement of business a reputed sharia advisor has to be appointed according to the given SBP policy. Banks ensure all their document â€Å"services† authorised by their sharia advisors. Banks are required to undertake comprehensive internal audit at least once in a year. Islamic and commercial banks both shell have a separate schedule of charges authorised by their sharia advisors. Risk Management: SBP enforce the Islamic Banking Institutions to follow the guiding principles of risk management established by the Islamic Financial Services Board (IFSB) that helpful to minimize the financial risk and these principals are applied over the six categories of risk they are. Market Risk Credit Risk Operational Risk Liquidity Risk Rate of Return Risk Equity Investment Risk Sharia Compliance Framework: Shariah compliance is the most important feature of Islamic finance. SBP established a comprehensive sharia compliance structure for the credibility of the Islamic Banking Institutions and the structure consists of. Sharia Board at SBP Sharia Advisor Forum Sharia Advisor Model agreement of Islamic mode of financing Guidelines for sharia compliance in IBIs Sharia compliance inspection Industry Progress and Market share: Islamic banks in Pakistan producing amazing results during the time when conventional financial system fully griped even all around the world and having more financial tools than Islamic sector. Under the current policy first Islamic banking licence was granted on in year, 2002. In year 2010 the total conventional banking deposits was $78bn and the projected growth rate was 13% p.a. while the share of Islamic banking deposit in Pakistan financial market was $12bn and projected growth rate was 81% p.a. with 440 Islamic operational branches. It is also important to compare the Pakistani Islamic financial sector with the progress in other countries. Malaysia first Islamic bank was established in 1983 and till 2007 its stand on 13%, Bahrain Islamic Bank stands on 8% during 30 years and Indonesia Islamic banks started their service science 1990s and still it has progress around 1.67% all the above figures shows that the performance of Islamic banking sector in Pakistan comparative ly better or satisfactory than other global countries especially east Asian countries. Banking and Finance Shariah Mode of Finance: Islamic finance sector in Pakistan offer a wide range of shariah base service to the investors. Following are the shariah complaint modes of banking and finance. Trading Mode Participatory Modes Debt Based Mode Other Modes zIjarah or Ijarah wa Iqtina Mudaraba Qard Wakalah Murabaha Musharka Assignment of Debt Musawamah Diminishing Musharka Kafalah Salam Equity participation in the form of shares in a corporate entity Istisna Tawarruq Charity Fund: SBP, policy for the income generated by the non-Sharia based resources or the income incurred by the bases of any penalties either its a late payment charges received by the client in default or overdue cases etc are transfer to the charity fund that income utilize for the charitable or social welfare purposes. Banks Offer Services: Following are the year wise entry of Islamic banks in Pakistan economy. Market Share 2003-2007: To analyse the market share its important to check both sides of the balance sheet to discourage the unethical information plays by the account managers and some time auditors play role to help them just for generating accounting profit and get good response from the market.SBP, keep focusing over the accounting performances on both Islamic and Conventional services sector and finally announced yearly bases comparison of the both sectors for encourage the investors. The table below shows the market share performance comparison from 2003-2007. In the Pakistan economy Islamic banking sector performing amazingly and by offering riba free services Islamic banks in overall branch network of the industry has increased over period of time and getting higher pace. All are the major banks in Pakistan now offering Islamic bank services. By 30th June 2008 total asset of Islamic banking industry in Pakistan was over Rs. 225 bn which was the 4.5% of the total banking industry assets. In the four provinces of Pakistan and AJK, more than 330 branches offering Islamic service. SBP, enforce all the conventional and non conventional to open their Islamic branches in all major cities and towns covering all the four provinces of the country and AJK. The table below shows growth in the branches network of Islamic banking industry science 2003-2007. Bank wise Share and Total Assets: Islamic banking system consider the alternative of the existing conventional system and the percentage value of Islamic banking assets growth in Pakistan gradually getting pace during the years 2003-2007 that was 85.2%, 241.8%, 62%, 66.9% and 72.6% respectively. Both IBs â€Å"Islamic Banks† and IBDs â€Å"Islamic Banking Divisions† enjoying growth, but rapid growth seems from year 2004 due to the large network of full fledged Islamic banks over more than 50 cities with the support of conventional bank IBs.The table below shows the assets of Islamic banking industry in Pakistan during the year 2003-2007. The bank wise share of Islamic banking industry Assets is as on 31st December, 2007 It is interesting and noticeable the highest growth that is 32.62% gaining by the fully fledge Pakistan most leading Islamic bank Mezzna Bank Limited (MBL) while the three big commercial bank have not showing the sign of market share they are UBL, NBP and HBL that predict the con fidence of people over Islamic banks in Pakistan. Deposit and Bank wise share: Deposits are the key of success for any financial institutes mainly it is important for Islamic banking that target different people from different background during the time when conventional banking having the large share of market but the performance during the years 2003-2007 predict the scope of Islamic banking and its success against the conventional system. Islamic banking divisions and Islamic banks gaining remarkable growth in deposits during the years 2003-2007 that is 65.3%, 259.5%, 65.4%, 67.7% 76.0% respectively. Moreover, rapid progress shown in year 2004 because aggressive banking start from Bank Alfalah Limited and the new entry of Al Barqa bank and after the couple of year Dubai Islamic bank, Emirates Global bank, Bank Islami and Duawood Islamic bank start their full fledge business and contribute to lead the deposit position up to mark during the year 2006 and 2007. Bank share deposits performance during the year 2003-2007 is as under. Financing and Banks Share: Liquidity management play a vital role for the existence of any financial institute. SBP provides a complete range of instructions to all Islamic banks to keep follow them for getting the good results from the market not only provide the policy also provide the a complete sharia compliance cell and sharia advisors for risk management. During the period from 2002-2007 Islamic banks financial performance was amazing that was 97.8% while the respective year growth was 135.1%, 218.4%, 66.4%, 43.4% 63.5%. figures show that Meezan bank capturing almost one third of financing while Bank Alfalh again leads the category of conventional banks having Islamic banking branches with the addition of BankIslami, Emirates Global, Dubai Islamic and Dawood Islamic yearly financing growth rate getting good pace every year. Composition of different mode of Islamic financing that shows saving deposit initially grew at high pace but latterly fixed deposit performance relatively better growing rate . By offering the credible shariah compliance, help to develop the interest of the customers. For the Islamic Banking Institutions ideal modes of financing belong to the low risk share category i.e. those which usually generate a fixed return. Among these Murabaha (cost plus mutually agreed profit margin). Ijara (leasing) are the most attractive and popular modes of financing. However, lately the share of Diminishing Musharaka has also grown at a rapid pace leading towards diversification of the Islamic banks financing portfolio Islamic Mode of Financing: Ijarah: Ijarah is a term of Islamic Fiqh Literally, it means â€Å"To give something on rent† The term â€Å"Ijarah† is used in two situations: It means ‘To employ the services of a person on wages e.g. â€Å"A† hires a porter at the airport to carry his luggage Another type of Ijarah relates to paying rent for use of an asset or property defined as â€Å"LAND† in Islamic Economics Ijarah is an Islamic alternative of Leasing. Leasing backed by an acceptable contract is an acceptable transaction under Shariah. The question of whether or not the transaction of leasing is Shariah compliant depends on the terms and conditions of the contract. Several characteristics of conventional agreements may not conform to Shariah thus making the transaction un-Islamic and thereby invoking a prohibition. Risk and rewards of ownership lies with the owner i.e. any loss to the asset beyond the control of the lessee should be borne by the Lessor. Late payment penalty cannot be charged to the income of the Lessor. Lease and Sale agreement should be separate and non contingent. Bank Ijarah Process: The customer approaches the Bank with the request for financing and enters into a promise to lease agreement. The Bank purchases the item required for leasing and receives title of ownership from the vendor The Bank makes payment to the vendor The Bank leases the asset to the customer after execution of lease agreement. The customer makes periodic rental payments as per the contract At the end of the tenure customer can purchase the asset from the bank with the help of separate Sale agreement. In case of sale, title of property is transferred to Buyer In case of Ijarah, title remain with the Lessor Only the use of the property is transferred to Lessee