The introduction of Africa in the world market started since the 15th century, could not in many respects be considered as a positive venture. Africa’s backwardness compared to the rest of the world(developed countries, newly industrialised countries and emerging countries) which is a paradox due to its enormous resources and potential, clearly demonstrate that Africa remain the great loser of the international economic order. A situation worsened when considered the policies undertaken by developed countries: the creation of regional and non regional trade blocs, the protection of domestic markets through quotas.
According to Gunnar Myrdal, the underdevelopped countries ‘way of handling their commercial policy will be one of the most significant factors in determining whether they will fail or succeed in their drive for economic development’ This assertion has the merit of addressing trade as the dominant economic activity possible in Africa and other Third World countries. It therefore takes into account the fact that African countries could not live in isolation and retrenched the fact that the growing competition in the production and distribution of goods and services will render these countries more vulnerable each day if nothing is done. As a consequence a reflection needs to be conducted as concerns industrialisation and trade for effective development in a context of liberalized market.
A DISTORTED AND UNFAIR ECONOMIC ORDER
The former American ^president Bill Clinton observed ‘globalisation is a fact not a policy option’ This implies globalisation is more than a mere creation of human being rather the consequence of ever increasing contacts among individuals, peoples and communities. The failure and collapse of the communist model and its abandon by pioneers countries like China and Russia are evidences the liberal economic order was inevitable.
The discussion over a need to reform the present economic order is as old as the deterioration of the terms of trade. On the one hand LDCs, as a result of an international division of labour dating from the colonial experience produce goods in the form of raw materials. They have no control over operations like the transportation, transit and distribution of these resources, thus they can’t determine the prices of these commodities. On the other hand developed countries sell these products once manufactured with such a high added value that there is an enormous gap between the commodity sold by underdeveloped countries and the manufactured product sold to the same countries. Nearly half of third world countries earn more than 50 percent of their exports revenue from one single primary commodity, such as cocoa, coffee or bananas. These countries are now confined in production structure of low value added activities. Not only are third world countries trapped to deal in a single commodity, but they are also depending on a few if not a single foreign market for supply of manufactured products and trade of their primary commodities.
In Africa about 340 millions people that’s half of the continent population live on less than a US dollar a day, the mortality rate of children under 5 is 140 per 1000, while life expectancy at birth is only 54 years. Only 58 percent of the overall African population has access to safe water.
As contained in NEPAD document ‘Africa’s place in the global community is defined by the fact that the continent is an indispensable resource base that served humanity for so many centuries.’ The underpinning theory of the current economic order is to large extent classical and neoclassical trade theories. According to them, all countries would gain in participating in international trade. Free trade maximises global output by permitting each country to specialise in what it does best. According to the IMF, outward oriented trade policies are conducive to faster growth for they promote competition, encourage learning-by-doing, improve access to trade opportunities and raise efficiency of resource allocation. In order not to miss this turning of history and thereby remain loser, Africa and other LDCs should undergo a deep reflection so as to gain advantages of globalisation. A challenge which can not be delayed or neglected in a context of high risk for these countries to miss the few opportunities they already had: the protection of recent inventions and the rush of multinational corporations in the LDCs markets of goods and services are evident dangers. The simple liberal approach to trade is not consistent with the historical experience of many developing countries. First the theory of trade so applauded by some is built on assumptions that are violated in most international markets.
Much of world trade is in oligopolistic industries such as cars, chemicals, electronics and steel. The increasing importance of multinational corporations is a clear indication that imperfect competition matters. On this point Krugman(1987) states ‘the insights of new models incorporating imperfect competition, learning and economies of scale has reduced the doctrine of free trade from an optimal first best strategy to a reasonable rule of thumb.
Our aim in conducting this analysis is to demonstrate regional economic integration and a more effective South-South cooperation among countries could enable third world countries to not fall prey into the dangerous trap of a simplistic participation in world trade.
SOUTH-SOUTH COOPERATION FOR SELF RELIANCE
As Todaro(1992) pointed out while it may be possible for many less developed countries to be self reliant on an individual country to country basis, some form of trade and economic cooperation among equals is probably preferable to each country trying to ‘go alone’ in a world of unequal trade, technology dominance, increasing protectionism among developed countries and various forms of non market price determination. This means more than ever before, before initiatives toward south south cooperation should be perceived as the basement of any sound economic policy undertaken by a third world country possessing a potential or a resource to exchange.
The south-south cooperation will accelerate the pace and render effective the economic independence of LDCs. The Northern partners of southern countries would be progressively replaced by southern partners. For instance, Nestlé could rightly face a competition from Brazilian coffee, South African milk whose industries in these domains of activities could quickly develop to satisfy that aim. The result would actually be a multiplication of vendors which will inevitably affect the prices of those commodities, in such a situation it’s quite sure the customer would soon pay the real price. In addition, one could believe, the relative proximity (geographical, cultural and sociological) makes south partners more suited to provide satisfying products among themselves. For their needs are relatively the same. Arthur Lewis (1977) stated that ‘the LDCs have within themselves all that is required for growth. They have enough land to feed themselves, if they cultivate it properly. They are capable of learning the skills of manufacturing and of saving the capital required for modernization.’
REGIONAL INTEGRATION
A regional organisation could be defined as a grouping of countries, in most cases neighbouring countries, into an organisation in order to address a particular issue: economic development; the management of their common resources such as lakes, rivers; the management of plagues with potential consequences beyond a country. Economic issues constituting the main problem in almost all societies, it is also the main stake of regional integration. In fact the world is slashed into pieces of regional groupings with membership overlapping at times owing to double membership of certain members. However this enthusiasm toward integration can not hide the relative and mitigated success of regional integration. If excluded the European Union, ASEAN, NAFTA regional integration has offered little compared to the fruits awaited.
Jarle Moen distinguishes between ‘once-and-for-all-benefits and dynamic benefits of integration in third world countries.
For many LDCs especially those with very small domestic markets, regional economic integration may offer a valuable experience, helping the transition to a more balanced economic development and a more open economy. Within the integrated, both quality and marketing techniques can improve and promote diversification and export production at a larger stage without compelling these countries to face the awkward effects of the liberalised market as the tendency seems to be. Integration can also increase the market size and, where economies of scale are present, reduce the cost per unit. This could benefit both producers and customers in the integrated market. For customers, it makes it possible to purchase goods at their real prices, since a competition among more than one regional economic actor (producer or distributor) would have as a consequence the obligation to offer the best prices possible. Also in a larger market, partners outside the integrated region would find it interesting for them to invest in such a region so as to take advantages of the discriminatory policies put in place to safeguard the region’s industries. According to Thomsen (1994) host country market size is one of the strongest determinants of where foreign firms invest. One has to take into account the fact that an investment from a developed country in a developing country is accompanied by a substantial transfer of technology.
Once achieved, regional integration will boost the members’ countries bargaining power in the international community. A power which can easily increase with cartelisation. Countries belonging to a regional organisation tend to present the same features, for instance they could belong to the same climatic belt, central Africa for instance and southern African countries. This geographic situation can enable such countries to bargain with additional strength in what they produce best on which they could expect better returns on sales thereby reach a situation of absolute gains.
REFERENCES
MOEN Jarle: Trade and Development: is South South Cooperation a Feasible Strategy? London School of Economics 1994
MYRDAL Gunmar: An International Economy, London: Routledge and Kegan Paul
TODARO Michael: Economics for a Developing World, New York: Longman 1992
KRUGMAN Paul ‘Is Free Trade Passé?’ Economic Perspectives, vol 1 pp 131-144
Bagneki Hugues is a student in the Yaounde 2 University in Cameroon. He is interested especially with issues of development
The golden key to effective fundraising is an organizations ability to manage relationships. While some may consider this an oversimplified explanation of a complex non-profit business model, our experience has shown us that this is one of the most overlooked, yet lucrative, elements of our fundraising efforts.
The backbone of any fundraising campaign is the appeal to donors for contributions. The problem many organizations run into during this phase of their fundraising efforts is that they have neglected to keep their donors engaged with their organization since their previous appeal for support. The donor no longer feels engaged by, or attached to, your organization in any meaning way. What distinguishes your organization or non-profit from the next?
We advise all of our clients to develop strong relationships with their donors and supporters. In the non-profit sector, these relationships play a significant role in the success of any given campaign. In some cases, these relationships can make or break an organization. Keep in mind that appeals for support are not always of the monetary type. Organizations of every type need support staff, and your donor list is an ideal place to search for new recruits.
One of the most important elements of fundraising is strategic planning, and your donor list can provide you with a lot of useful information. For instance, a well organized donor list can provide you with information about the types of causes a certain individual tends to support. By studying the types of initiatives an individual supports, you can make relatively educated guesses about their receptiveness to your current efforts. By organizing and tracking this data, you can save your organization valuable time and resources that could be used more effectively in another area.
A number of organizations purchase their donor lists from a third party. While this may be the most convenient solution, it is certainly not the most effective. It is imperative for any organization that is serious about fundraising to develop a proprietary donor list. This is a significant point that is often overlooked. By building your own donor list, you become engaged with the people in your community. These are the people that will support your organization over the long term, and the ones most likely to get involved.
Michelle Pearson is a fundraising professional with over 15 years of experience in the non-profit sector. She is also a regular contributor to the internet’s preeminent fundraising magazine, fundraisingknowhow.com - a wonderful website with creative fundraising ideas, fundraising books, fundraising tools and more.
Personal loans are loans that can be availed for any reason unlike other loans that you take out for specific purposes, such as home loan to buy a house, car loan to buy a car, debt consolidation loan to consolidate your debt, and so on. Personal loans are multipurpose loans that you may avail to fulfill your needs. You may use a personal loan to buy a car, for home improvement, to buy a holiday package, to pay for college fees, and much more.
A large number of lenders offer personal loans. You can compare personal loan deals offered by various lenders and choose the best deal for yourself. The most convenient way to search for a personal loan is to surf the Internet. Many lenders offer personal loans over the Internet. Many brokers and introducers also use the Internet to help you access the lenders who offer personal loans.
Based on the rate of interest, personal loans are of two types - fixed rate and adjustable rate personal loans. In case of fixed rate personal loans, the rate of interest and the amount of monthly installments remain the same throughout the loan period. In case of adjustable rate personal loans, the rate of interest fluctuates with the changes in the interest rates prevalent in the market.
Based on the mode of repayment, personal loans are of three types - installment loan, balloon loan and single payment loan. In case of an installment loan, the loan amount along with interest is repaid in the form of monthly installments until the expiry of the loan period. In case of a balloon loan, only interest is paid at regular intervals and the entire principal amount is repaid at the end of the loan period. In case of a single payment loan, the principal amount as well as the interest is paid at the end of the loan period.
Depending upon the loan period, personal loans are of two types - payday loans and bank signature loans. The loan period of a bank signature personal loan is usually one year while the loan period of a payday personal loan is less than one year. Payday loan is usually taken out when there is an urgent requirement of money. It is repaid as soon as the borrower receives his/her salary.
For More Information Visit www.easy-loans-shop.co.uk.
A direct minikrediet is a way to solve a short-term cash issue for amounts like 118 euro.
A lot of us count down the minutes until payday? This is where a fast minikrediet comes in, offering a suitable sum of money to help you get by. However, this does vary with some providers charging 27 interest and so on. You must however, be able to satisfy the 10 minutes minikrediet provider that you will have enough cash available to cover the advance repayment they will look at how much you can afford to pay back on an individual basis between 220 euro. The charge you need to observe is how much you pay back on the amount you borrow - this is a fixed sum dependent on the individual provider. If you apply for an payday loan for 358 euro you will usually have to fill out an online form and attach copies of your documentation in an email, or by fax.
However, it is not necessary to use the loan for this purpose and effectively the cash can be used at your discretion as long as it is paid back with interest during the short loan term. However, for lengthier journeys you are better to use a method of transport that specialises in long distances such as a train or plane, minikrediet are certainly a short-term special. Unexpected costs can hit even those who keep a tight grip on their finances if something goes wrong in the home, a family member needs support or you receive a larger than expected bill you might require cash to help you get by until your next wage slip.
Be sure to use the fast online minikrediet comparison tool at direct minikrediet aanvragen to compare rates. As with all online minikrediet it is best to take a complete search of the market before you apply for a fast online minikrediet for aount 108 euro so you can compare interest rates and make sure you are getting the best deal for your needs. For many it simply can’t arrive soon enough as we attempt to juggle bills and expenses, as well as trying to have a little fun in life. In the majority of instances for every 211 euro you borrow you have to pay back 125 euro, meaning 22 interest. It’s easy to compare direct online minikrediet with us and hopefully you’ll soon have the cash you need to get by without worrying how far away your next payday may be.
The premise behind gsm minikrediet is simple whatever you need 306 euro for, you can take out a loan (usually ranging from 289 euro but sometimes up to 1,000 depending on the provider) that is repayable on your next payday, whether it is 26 weeks away or less.
$300 billion.
According to a study released in March, that’s what the tax gap was in 2001. The tax gap is the total amount of money paid to the IRS compared to the estimate of what should be paid. That means, in 2001, there were $300 billion in taxes due that were never paid.
That’s one heck of a balance due.
“People who aren’t paying their taxes shift the burden to the rest of us,” IRS Commission Mark W. Everson said in a statement regarding the study.
But what’s newsworthy about this study is not the staggering $300 billion figure. It’s the incorrect picture that the study paints.
With that large of a tax gap, most taxpayers would rightfully assume that the IRS is a lax agency and that they could likely get away with cheating on their taxes or underreporting their income.
Wrong!
Since 2001, the year that the study examined, the IRS has dramatically stepped up its efforts to reduce and prosecute tax cheats.
Among the steps the agency has taken:
∑ The IRS has increased its enforcement revenues by nearly 28 percent, from $33.8 billion in 2001 to $43.1 billion in 2004.
∑ Audits of high-income taxpayers those earning $100,000 or more topped 195,000 in fiscal year 2004, which is more than double those conducted in 2001.
∑ Total audits of all taxpayers topped 1 million last year a 37 percent jump from 2001.
∑ The IRS has worked with credit card companies to identify taxpayers who are using offshore bank accounts to hide income.
∑ Those using frivolous tax-avoidance arguments in court are facing up to $15,000 in fines.
∑ With the help of the Justice Department, the IRS has issued more than 100 injunctions against tax-scheme promoters.
“We are ramping up our audits on high-income taxpayers and corporations, focusing more attention on abusive shelters and launching more criminal investigations,” Everson said. “Our enforcement efforts are designed to increase compliance and reduce the tax gap.”
Taxpayers should consider these facts when they begin to hear, as they will, the promoters of tax-avoidance schemes trumpet the $300 billion tax gap. The truth is, while there will always be a tax gap, the IRS is an incredibly aggressive tax-collecting agency.
Darrin T. Mish is a Nationally recognized Attorney whose practice focuses on representing clients across the United States with IRS Problems.He is AV rated by Martindale-Hubbel and is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. He has been honored by a listing in Martindale-Hubbel’s Bar Register of Preeminent Lawyers. He can be reached at his website at http://www.getIRShelp.com
While it used to be difficult to obtain an unsecured loan if you had bad credit, it is not so anymore. With comparison services like moneyeverything.com, it is now much easier to obtain such loans at great rates. However before you launch yourself into applying for such a loan, here are a few points that need consideration.
How bad is your credit
Before applying for an unsecured loan, you need to understand how bad your credit really is. You can obtain the information you require by contacting a credit agency for your credit score. More often than not this information can be obtained for free. Your credit score may be low if you have a bad repayment history or no repayment history at all. Once you have your credit score, you can use a few online tools like loan calculators to calculate the amount of loan you are eligible for and the interest rates that you are likely to be offered.
Shopping around
Armed with that information you can start shopping around for options. With a wide range of loan providers competing it is much easier to compare loan rates today. The best place to start searching for a good rate is in the online environment. Many sites like moneyeverything.com offer comparison tools and list different lenders at the same place to make choosing the right lender easier. You can then explore the detail behind short listed lenders and following that make your application online.
Criteria to choosing a lender
Once you shortlist lenders you need to make an informed decision on the lender you will finally work with. Choose a lender with a reputed name and who offers you a good deal. A good deal does not just mean a low interest rate, however. Also consider the time frame over which the loan is to be repaid, pre payment penalties, late fees, APR, nature of the interest rate (whether fixed or variable) and other such factors. Most importantly read the terms and conditions carefully as there are predatory lenders who are trying to make money out of unsuspecting borrowers.
Benefits of unsecured loans
While unsecured loans with bad credit are more difficult to obtain, do not despair. These loans have their benefits and there are lenders who are willing to take their chance on customers with difficult circumstances. The loan amount will be lower than with a secured loan, but unsecured loans get approved faster. This is because no property valuation is involved. Also these loans are an excellent option for repairing credit, consolidating debt, taking a vacation or for meeting immediate medical expenses.
Choose a lender who offers expertise and experience besides a good loan. Moneyeverything.com is one such service that has many options for you. Explore the site, read the details for the options that suit you and apply online.
I write articles on Loans. For more details please visit http://www.moneyeverything.com
If you are like many other traders, you have been eagerly
waiting for the release of Metastock 8.0 for one reason, and one
reason only, the reportedly redeveloped system tester.
Metastock`s one major flaw has always been its lack of back
testing capabilities, though previous versions of Metastock are
head and shoulders above the competition on other fronts. But
whatever criteria you use to trade with, be it moving averages,
candle sticks, fibonacci retracements, or any other trading
system, you`re going to need to back test it. Everyone needs to
thoroughly back test, or simulate, their trading system in ways
that can match the conditions you will be trading in. It`s
something all serious traders do.
Consequently, when Equis International (the makers of Metastock
8.0) announced “an all-new type of exploration that emulates
running system tests over an entire database of securities”, I
could hardly wait to get the Metastock 8.0 release.
While waiting to receiving my copy of Metastock 8.0 I began
building trading systems. By the time my copy of Metastock 8.0
finally arrived, I had around 20 systems ready for testing, and
couldn`t wait to try them out.
However, when I loaded up the software, I was in for a surprise.
It looked like nothing had changed. I thought maybe Equis
International had kept the same interface and added in greater
flexibility and some more features, but after searching in every
nook and cranny, I found next to nothing that was new. It looked
the same and, except for a couple of small changes, it was the
same!
Then I came to the System tester - now called the “Enhanced
System Tester”. This was my major reason for upgrading from
version 7.22. This is what appeared to be only real difference
between Metastock 7.22 and Metastock 8.0.
After fiddling around with the Metastock 8.0 Enhanced System
Tester for a few hours, and testing my 20 systems, I reached the
verdict that I wasted my money on the new version of Metastock
8.0. Despite the supposed improvements to the Enhanced System
Tester it, like it`s predecessor, left a lot to be desired.
Even though the Metastock 8.0 Enhanced System Tester tests
multiple securities in one batch, it treats each security
independently of the others. Therefore, when Metastock 8.0 tests
the first security, it uses your predefined float and takes the
trade over the test period selected. Once that is completed, it
repeats the same process for the second security, using the same
initial float, with no reference to the first security.
In the end, you receive the same result that you would have if
you simply tested each security individually and added the
results together. Not only is this process dreadfully slow, but
the entire reason for testing your system is side-stepped. When
your finished all the explorations, the performance of your
trading system is still unknown!
The moral of the story is that if you already own Metastock 7,
don`t worry about upgrading to Metastock 8.0. Simply stick with
the version you have and keep your fingers crossed that Equis
International gets it right for Metastock 9.0.
David Jenyns, leading expert in designing profitable trading
systems, MetaStock website offers a huge free collection of
trading related tips and tricks. Gain free access now. Click
Here ==> http://www.meta-form
ula.com/subscribe
One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of daily maintenance.
Why bookkeeping is important for your business?
First of all, you can track where the money are from, ane where the money goes to. Find out which ones are the most valuable resources or advertising methods.
Secondly, it is for your Tax purpose. When tax season is coming, if you have a bookkeeping, you need not spend 5 days to dig out all the receipts and sales reports.
There’s really nothing complicated to bookkeeping it’s as simple as keeping a daily dairy and’ or maintaining your personal checkbook. At the bottom line, it’s simply a matter of recording your deposits-your incoming monies-and keeping a record of the money you spend.
So, the first thing you need to do is open a business account for your extra income business or endeavors. Generally, this is simply a matter of asking the new accounts teller at a local bank for a business account registration fee, send it in to the appropriate commissioner, and from there, open you a new business account-complete with imprinted checks.
Drop by a local stationery store and pick up a loose leaf notebook, and a supply of paper. We’ve always picked up a supply of index tabs at the same time–either to separate the months or the accountability sections for each item we sell.
Assuming that you want to make it as simple as possible, while at the same time keeping it as efficient as is necessary-here’s what you do and how to do it.
On the first page in your notebook, write on the top line and in the middle of the page: Monday, January 1st, 2004 or whatever day you officially start your business…Then, as your orders come in, if by mail, as you open your mail-jot down starting from the left side of the page, the amount you received-dash-for what-from whom, and their address. The page might look like this:
Monday— January 1 2004
$ 14 Tapes 100 S.W Fee-Barton 10 Hong Kong Dir #261 10 ” ” #261 3 Whsle Prt Dir #49 70 Hot Line Lst–Morgan
TOTAL INCOME $207 EXPENSES 0
That’s all there is to it, and boiling it all down, it amounts to recording what you receive and what you spend. The next entry, immediately under that first day’s entry might look like this:
$207 Deposit 11 Printer-for copies 10 Sec & riches thru R Est #302-Rogers( 75010) 3 Simplified annual M.O bkkp Sys (21104) 10 Money Magnetism-Kline (88033) 36 R.W Fee-Magnuson (10067 6 Manual on Bookselling-#291-Magnuson (10067 15 display Ad- Smith 948089) 22 Ideal Ofc Supplies-printer paper
TOTAL INCOME $80 Expense $33 Deposit $207
And then, carry on with this recording of the money you deposit, receive and spend each day with similar entries for each day of the week-every day Monday Thru Saturday for each week. It’s simple uncomplicated, and a positive record of your business activity.
Then at the end of each month, transfer this daily information to one of the low cost bookkeeping registers that your tax consultant or accountant can work from. These people won’t work from your daily dairy, ad will not transfer the information you record in it to a formal bookkeeping register without charging you a small fortune. it’s not that big of a job, ad if you do it after te close of the business on the last day of the month, it will take at the most a very few minutes. Then, of course, when you’re ready to do your taxes, you simply give your bookkeeping register to whoever is going to do your taxes, and you’re home free.
The bookkeeping register you’ll need can be any simple columnar notebook-All you really need is some sort of notebook with a number of columns marked off, a title written at the top of each column, and a record of te money received for each day relative to the product or service each column represents. Then at the end of each month, you can simply add the totals from each column and you’ll instantly know how much money you took in from each of your offers.
Beyond te date column, will be your record of expenses or money spent. Again, you should title each of the columns you’ll be entering figures into, and then record your expenditures for items falling into those categories. Then at the end of each month, it’s a simple matter to add the total from each column and know exactly where you stand relative to profit or loss-how much you took in compared to how much you spent.
Bookkeeping and/or accounting is a very simple and should not scare you. Just keep it simple, ad up-to-date.
If you want to use advanced software to do the job, you can either use Quicken (www.quicken.com) or Microsoft Money. You can buy them online or from local book store. By using these software, you can even download bankstatements and credit cards statement. Then you can specify which catagories are belong to business expense. It will save you a lot of time.
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Julia Tang publishes Smart Online Business Tips, a fresh
and informative newsletter dedicated to supporting people
like you! To find out the best online business opportunities,
and to discover hundreds more proven and practical internet
marketing secrets, plus FREE internet marketing products
worth over $200, visit: http://www.best-internet-businesses.com
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