The water pollution of the Yellow River Essay Example | Topics and Well Written Essays - 2750 words

The water pollution of the Yellow River - Essay Example Currently, the Mother River is slowly dying. Stained with pollution, crowded with ill-conceived dams, tainted with sewage, it diminishes at its mouth to a lifeless trickle. There were many occasions during the 1990s that the river didn’t reach the sea at all (Wang, Xuejun, and Edwin, 282). It is no hallucination. The huge oasis in Ningxia, near the Yellow Rivers which runs 3,400-mile from the Plateau of Tibet has survived for close to 2,000 years, since the Qin emperor posted an army of peasant engineers to grow crops and build canal for soldiers protecting the Great Wall (Wang et. al.177). Many residents are trying to carry on that tradition today. Lured here almost three decades ago by the limitless supply of water, farmers near the river banks cultivate cornfields along the Great Wall next to the Yellow River (Selden, Mark and So, 152). From the irrigation canal, many residents appreciated the green expanse and loved the rivers power and always believed it was the most beautiful residence under the sun (Wang, Xuejun, and Edwin, 282). However, this earthly bliss is fading fast. The proliferation of industries, factories, cities, and farms which are considered goods of Chinas magnificent economic boom is affecting the Yellow River by making it dry (Wang et. al.168). All the water that is remaining is being polluted and poisoned by these disposals. From the canal bank another surreal flash of blood-red toxic chemical waste streaming from a pipe are considered the greatest pollutants of the Yellow River. These drainage makes the water turn garish purple (White and Matthew, 47). The canal drains into the Yellow River that was inhabited by turtles and fishes (Selden, Mark and So, 154). Currently, the water is toxic to be used for irrigation purposes. In addition, goats and livestock die within hours of drinking from the canal (Wang, Xuejun, and Edwin, 283). The hazardous pollution comes from chemical and pharmaceutical factories next to Shens

Investigation into the Sovereign Debt Credit Ratings of Five EU Member Literature review

Investigation into the Sovereign Debt Credit Ratings of Five EU Member States and China over the Period 2005-2012 - Literature review Example Caprio and Klingebiel (2003), McKinsey (2010), Mihalakas (2012) find that common problems existing in crisis countries are financial imbalances, government debt over the country's debt paying ability, huge public spending, which eventually lead to the occurrence of crisis. Calvo (1998), Eichengreen et al. (2005) and De Grauwe (2011) and Wolf (2011) all think that monetary union is one of the important factors. Detlef (2012) argues that large-scale sovereign debt is due to the endogenous structural problems. Leigh (2010) through the statistical methods to find low growth is another incentive to crisis. The financial crisis accompanied by the enormous public debt in the Euro zone particularly the Greece that occurred in 2009 resulted in a great confusion in the vast world financial market, this even became of in the year 2010 (Buckley & Arner, 2011). Despite this the International Monetary Fund (IMF) and the European Union (EU) have acted so fast to handle the crisis and restore the co nfidence of the market participants :( Portes, 1986). It did this through restoring the fiscal economies such as Greece, Ireland, and Portugal among others. However, the Euro zone crisis extended even in the first half of the 2011 through vigorously shaking the financial markets both internally and externally of the monetary union. This extended the thought that other countries would be rescued from the crisis later on. Although the countries mentioned so far are small economically, there was an exposure of through financial contagion and therefore the possibility of the scourge spreading to other countries of the EU like Spain and Italy, this has made handling of the crisis more complicated and serious. On the other hand, a variety of questions has been raised over whether the institutions conferred with the obligations of handling the issues will be up to the task (Buckley & Arner, 2011). The proponents of the advocacy that the monetary unions escaped national monetary and economi c sovereignty are right though they lacked central fiscal authority :( Portes, 1986). It is quite evident that without such conferred authority; the organizations are toothless hence preventing the monetary union from effective action by the constituents. This therefore has made the recovery of the mentioned countries out of the debt crisis hence more muted than it would have been expected (Canuto & Giugale, 2010). For decades, the financial positions of the countries in the euro zone exhibited the strengths that have never been witnessed in the year 2007 (Canuto & Giugale, 2010). This had largely been attributed majorly due to the economic environments that facilitated the strongest view. The onset of the 2008-2009 financial crunches witnessed a longer and lasting impact in the economic environments of the countries in the EU (Buckley & Arner, 2011). This penetrated the economic environment in three major transmission channels, which entail: - the nature that the financial system i s highly contagious and connected, the effects and impacts that demand had on wealth and confidence and lastly, the global trade