Use tables or graphs to illustrate the price stability performance of Japan Essay Example

Use tables or graphs to illustrate the price stability performance of Japan Essay Japans economic slump, which began with a stock market crash in 1989, now lies in its fourth recession in ten years. The Asian banking and financial crisis has had a profound effect on this, the second largest economy in the world. Japanese under performing banks are carrying Yen150 trillion ($1.3 trillion) of bad loans. State-run corporations are dragging productivity down, unemployment is rising and Japanese consumer confidence remains low. Macroeconomic policy is proving highly unstable as Japans illness that of deflation remains predominant. Price stability is defined as the sustained absence of both inflation and deflation. (Mc Aleese: p.294, 2001). Further economic agents can make decisions regarding economic activity without being concerned about the fluctuation of the general price level. Along with effective fiscal policy, the control of government spending, low unemployment levels, controlled interest rates and hence inflation rates, macroeconomic policy is maintained. The most serious aspect of Japans economic sickness is deflation. Japans paralysis, where ineffective control measures have had many negative results, will now be discussed. Price Stability: We will write a custom essay sample on Use tables or graphs to illustrate the price stability performance of Japan specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Use tables or graphs to illustrate the price stability performance of Japan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Use tables or graphs to illustrate the price stability performance of Japan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Price stability, or rather instability in Japans case, is characterised by the prolonged presence of deflation. The stock market is hovering around a 19 year low. The Nikkei 225, the most commonly used Share Price Index, had stood at 14 times the Dow through the 1980s. However in February 2002 it dropped below the Dow Jones Industrial for the first time since 1957. Japans persistent decline in the general price level is again indicated by the Consumer Price Index. Prices have shown a 1% fall per annum. These falling price levels have increased real debt burdens. National debt stands at over 130% of GDP (www.economist.com). Also Japans banks are chronically weak and burdened by duff loans of Yen37 trillion, about 7% of GDP. So Japanese banks have been left carrying excess bad loans, forcing them to cut lending. Together with depressed consumer spending it has proved impossible for the Bank of Japan to deliver the negative real interest rates that the economy needs to revive demand. Interest rates in Japan stand at virtually 0%. However most companies are not investing but paying down their debts (mentioned above). This adverse impact on investment is also due to the fact that real long-term interest rates in Japan have reached high percentages. The fact that interest rates stand at zero has kept inefficient firms afloat and delayed restructuring. This has contradicted Japans bust advantage. Structural adjustment and creative destruction can prove positive outcomes of negative fluctuations. However, rigid labour and product markets, along with the Japanese keiretsu relationship have hindered the weeding out of inefficient firms. Simultaneously, low interest rates have led to low inflation rates (-0.6% in 2001). This has reflected weak demand and thus the economic slowdown. These supply-side factors, such as the intensification of global competition and deregulation, have put additional downward pressure on prices. This is contributing to the high debt ratio and subsequent price destruction. This bout of recession and deflation has not only had negative impact on CPI, share prices, investment and inflation but also on property prices. Since 1991, commercial property prices have dropped by an average of 84% in Japans six biggest cities (www.economist.com). Housing demand has also collapsed since 1996. Analysis: It remains evident that Japans economy lies in uncertainty, where consistent unstable price performance has given rise to the lost decade. Its current situation comprises of internal factors (e.g. buyer uncertainty) and external factors (e.g. the U.S. current bubble burst). These counter-cyclical variables have had the following negative effect the decrease in economic activity in Japan has led to the increased unemployment rate (+5.3%), bankruptcies, non-performance loans etc. Analysing Japans current prolonged crisis, it becomes evident that it displays attributes of Keynesian economics. The existing shifts in aggregate demand, the low rate of investment and price rigidities, all clearly display this. Price stability is an indispensable prerequisite to ensure sustainable development of the economy (Masaru Hayami, Governor Bank of Japan). 77 year-old Mr. Hayami however has failed so far to deliver such a position. This political paralysis, where political resistance to reform is demonstrated, is hindering Japans recovery. Again, the current Japanese Prime Minister, Junichiro Koizumi (elected April 2001), who unveiled a series of economic reforms has met with little success against this rigid political system, resistant to reform. Furthermore his termination of Makiko Tanaka (his Foreign Minister) in January 2002, along with his lack of co-operation with Economics Minister, Heizo Takenaka, has left Japan still in search of a cure. Is there Evidence of Inflation or Deflation in Japan at the moment? What problems might be associated with very low inflation or deflation? Deflation is defined as the persistent decline in the general price level of goods and services1. The most common measure of inflation statistics is the Consumer Price Index (CPI). In Japan, this has fallen at a rate of about 1% since 1999. If the GDP Deflator is used this deflationary trend can be traced back to 1995. The difference between potential and actual GDP is called the output gap. This is another indicator of price stability (or instability). Price stability is defined as the sustained absence of deflation (falling prices) and inflation (rising prices). It is fundamental to the second pillar of the new consensus, macroeconomic stability. Therefore policy makers welcome disinflation and low inflation. Owing to the bias2 in constructing CPI indices, an inflation rate of 0-2% has become acceptable. There are certain costs of changing prices regardless of whether these are due to high inflation or deflation. There is a loss in efficiency as menu costs and shoe leather costs are incurred. Additionally, the necessary fiscal and monetary policies required to attain stability are costly. More specifically, why is deflation problematic? Initially, falling prices seem like a good thing and people feel as if they have more money in their pockets to spend. Even those on a fixed income, (state pensions, social welfare) benefit from an increase in real income. In spite of all this, the far-reaching contagion effects of deflation mean it is a phenomenon to be avoided. Rather than spending more on the goods, which they can now afford, a continuous fall in prices means that consumer and investor spending actually slows down. Consumers and businesses are reluctant to buy goods, which they expect to drop in value in the near future. Such speculation curbs investment and saving increases. In an effort to encourage borrowing for investment, nominal interest rates fall and approach zero. Since the nominal interest rate is the opportunity cost of holding money, savings further increase. This fall in investment demand and activity retards economic growth. Furthermore, since the nominal interest rate cannot fall below zero, the real interest rate will always be positive. In times of deflation, the burden of debt therefore increases. It would seem that lenders gain and borrowers lose. The problem for lenders occurs when debt rises too high and borrowers cannot afford repayments. Banks who earn profits through loan repayments cannot attract big borrowers. T his type of debt deflation is the main problem in the Japanese economy today but is also reminiscent of the Great Depression in the 1930s. In times of low economic growth, it is typical to lower the currency value thereby making exports more attractive to foreign investors. However, the low nominal interest rates induced by deflation have caused foreign demand for the Yen to rise. The Yen remains strong and exports remain relatively expensive. On the whole, wages are accepted to be ratchet. This means that even if prices are falling, the nominal wage rate will not fall. Higher debt repayments and squeezed profits mean that the pressure on companies to cut costs is twofold. This leads to a Darwinian shake-out as companies see job cuts as the only option to save on costs. Deflation is clearly at the root of Japans failing economy. Policy makers must now look to the formulation and implementation of an effective plan to fight deflation if there is any hope of a recovery.

Redon essays

Redon essays The work of Odilon Redon (1840-1916) vividly illustrates the theories of Symbolism. In reaction to his Impressionist contemporaries, whom he accused of "aiming too low", Redon sought to combine "human beauty with the nimbus of intellect". In creating such works as 'Closed Eyes', 'The Birth of Venus' and 'The Chariot of Apollo', he unlocked the door to the invisible. Imbued with the music of Wagner, enraptured by the poetry of Edgar Allan Poe, Baudelaire, and Mallarm, he lent expression to his obsessive fears and dreams in the prints and charcoals he called his noirs. Then, gradually, colour began to filter into his work, and the fallen angels, hideous monsters, gnomes, giants and fantastic forms gave way to women, bouquets of flowers, mythological subjects and butterflies. Oils, pastels and watercolours marked a turning point in his creative inspiration, bodied forth in a new and exceptionally sumptuous handling of colour. Serenity now took the place of fear. This new synthesis, this intimate fusion of the real and the symbolic, which was much admired by his young friends, the Nabis, calls to mind the famous maxim he had long since adopted, one that heralded the advent of Surrealism ...

A review of academic research undertaken in relation to Small and Assignment

A review of academic research undertaken in relation to Small and Medium Sized Enterprises - Assignment Example 5. The act focused on increasing the enterprises’ production outputs, increasing revenues and profits. 6. Small and medium enterprises reduce London’s Unemployment rate. 7. Small and medium enterprises are either sole proprietorships or partnerships. 8. Small and medium enterprises have less than 250 employees. 9. Small and medium enterprises are profitable business ventures. 10. U.K.’s laissez Faire (free) economy encourages entry into the lucrative small and medium enterprise market. 11. With lower capital investments than corporations, small and medium enterprises are preferred choices. 12. The United Kingdom government must implement the provisions of the 2008 Small Business Act for Europe. 13. The United Kingdom government must help lessen small and medium enterprises loan requirements. 14. The United Kingdom government must ensure small and medium enterprises comply with tax, labour, and environmental protection statutes. 15. Small and medium enterprises si gnificantly contribute to the improvement of the United Kingdom economy. Introduction Many individuals boldly join the risky small and medium enterprise market segment. The market segment is grounded on low capital investments. The market segment reduces the United Kingdom unemployment rate. ... Pederzini insists that the European Union exerted extra efforts to help the small and medium European Union member nations’ business money. With the small capital investments, the small and medium size business entities need additional borrowed funds (Warren, 2008). The borrowed funds will help increase the company’s revenues. With more revenues, the small and medium size companies will generate higher net profits. In addition, the additional loan amounts will help the companies pay for the salaries of additional employees. With more employees hired, the service and product quality and speed will consequently increase. After the successful launch of the 2000 European Charter for Small Enterprises, the European Union leaders launched the equally successful Lisbon Growth and Jobs Strategy in 2005. Next, the European Union leadership focused their attention to helping the small and medium enterprises improve their European Union business prospects (Dallago, 2012). In 2008, the European Union launched the timely Small Business Act for Europe. The act contains three favorable aims. First, the government leaders set the guidelines for the improvement economic environment of the small and medium enterprise players. The improvements will trigger higher revenues. With higher revenues, the enterprises can hire more workers. With more workers, the European Union’s unfavorably high unemployment rate will significantly drop to permissible levels (Dallago, 2012). Second, the act focused on increasing competitiveness among the European Union’s small and medium enterprise players. Increasing competitiveness significantly persuades the competitors to improve the quality of their products and services (Cant, 2009). Improvement of their products and

Molly Spotted Elk Research Paper Example | Topics and Well Written Essays - 1000 words

Molly Spotted Elk - Research Paper Example It is therefore believed that Molly Spotted Elk’s life was â€Å"a trail of tears† or a life of sadness and pain. Childhood Molly Spotted Elk was always believed as a â€Å"remarkable person in any light†3 just like what a former director of the Penobscot Nation Museum thought of her. Moreover, the same director thought of her life as â€Å"one of the most amazing unknown lives of any modern American woman,†4 despite the fact that she must have lived a sad life made up of several challenges. The struggle of Molly Spotted Elk must have begun early in childhood. Molly was born on Indian Island, Maine on November 17, 1903 as Mary Alice. Her mother, Philomena Solis Nelson, was a Maliseet Indian and one of the most prominent basket makers of her day. On the other hand, her father, Horace Nelson, was then a future governor of the Penobscot Nation, and was the first member of that Indian nation to go to Dartmouth College. Moreover, Molly’s grandfather had once been a chief of the Maliseet tribe in Canada5. As a child, Molly was different from her seven younger brothers and sisters for she took a great interest in learning traditional dances when she was only 13 years old. She did this in order to financially support her family6. It could have therefore been that at this time, Molly must suffered greatly from having to work for her family at such a young age. Moreover, Molly’s suffering was also evident when she scrubbed floors at night in order to be able to study anthropology during the day. She did this after entering the University of Pennsylvania without having enough money to pay for her tuition7. Moreover, she struggled to make both ends meet for her and for her family as well because she even had to send money to her family from her scrubbing work aside from having to pay for her tuition fee. In fact, â€Å"[Molly] was hungry and she needed to [perform to survive]†8 just like all Penobscot people, who themselves had to work hard and struggle. This must have been difficult for Molly herself considering the fact that she was not only a working student but also that she was a Native American Indian. Career as a Dancer When Molly was a dancer for the vaudeville troupe of the famous rodeo named Tex, she was a dancing sensation everywhere she went. However, although she was, as her family remembered, â€Å"a happy and completely free spirit†9, Molly danced even â€Å"topless†10. This must have been exciting even for her but it does not change the fact that a woman who dances topless does not care much about her image and reputation. Molly must have therefore suffered much at this point in her life. Career as an Actress In 1928, Molly Spotted Elk’s friendship with a Hollywood producer made her star in â€Å"The Silent Enemy,† one of Paramount Pictures’ last silent movies. Molly played the role of Neewa, the daughter of the tribal chief. In the movie, she was amon g the Ojibwa Indians who struggled against hunger, which was the silent enemy of the Indian people before the coming of the white man. The problem was that Molly had to endure the harshness and cold of the Canadian weather in the process. To make matters worse, the movie was not a success at all11. Life in Europe After the failure of â€Å"The Silent Enemy,† Molly went to Europe briefly to dance in front of the Old World Royalty, which included

Advantages and Disadvantages of tables computers for traveling Essay

Advantages and Disadvantages of tables computers for traveling salespeople - Essay Example The main aim of this paper is to provide a detailed analysis of the growing use of tablet computers by sales people. The paper would also contain a clear view of the various advantages and disadvantages of the tablet computers that can help salespeople to decide whether to choose tablet computers over other portable devices available in the market. The segments of tablet computers are considered to be one of the growing markets amid other electronic gadgets available in the business market. The main reason behind the growing preference of tablet computers over personal computers (PC’s) and laptops is their superiority in terms of convenience and features when compared to other hand held devices. It is worth mentioning that today’s youth also considers tablet as their first choice over mobile phones as they get larger screens and also provides additional advantages like high battery backup, full screen access and also provides the facility of calling over the laptop. The adaption of tablet PC by salesperson can be widely viewed due to their enhanced features and usability. The prime reason behind adapting tablet computers by salesperson it that, it not only provides them the advantage of carrying it anywhere but also helps in securing the data and helps business organization to keep a track of their sales. It also provides them with the facility to connect to any of their colleagues sitting anywhere. The ability to run programs, managing schedules, contacts can also be considered as an additional feature of tablet computers over laptops and other hand held devices. Though there has been continuous debate amid technological critics about the adaption of tablet computers by salespeople. ... The main aim of this paper is to provide a detailed analysis of the growing use of tablet computers by sales people. The paper would also contain a clear view of the various advantages and disadvantages of the tablet computers that can help salespeople to decide whether to choose tablet computers over other portable devices available in the market. Discussion The segments of tablet computers are considered to be one of the growing markets amid other electronic gadgets available in the business market. The main reason behind the growing preference of tablet computers over personal computers (PC’s) and laptops is their superiority in terms of convenience and features when compared to other hand held devices. It is worth mentioning that today’s youth also considers tablet as their first choice over mobile phones as they get larger screens and also provides additional advantages like high battery backup, full screen access and also provides the facility of calling over the laptop. The adaption of tablet PC by salesperson can be widely viewed due to their enhanced features and usability. The prime reason behind adapting tablet computers by salesperson it that, it not only provides them the advantage of carrying it anywhere but also helps in securing the data and helps business organization to keep a track of their sales. It also provides them with the facility to connect to any of their colleagues sitting anywhere. The ability to run programs, managing schedules, contacts can also be considered as an additional feature of tablet computers over laptops and other hand held devices. Though there has been continuous debate amid technological critics about the adaption of tablet computers by salespeople. Furthermore, it has been viewed that business persons

Study of Rail Structure: Risk Analysis and Failure Mode

Study of Rail Structure: Risk Analysis and Failure Mode Study of Rail Structure:  Risk Analysis and Failure Mode Avoidance In this case study, a brief overview of railway structure is discussed. Defects related to rail failure are considered essential to frame out the correct maintenance strategy. As it is closely associated with safety of passenger and cargo transportation, hence it retains high risk in terms of human lives and cost of resources. There will always be some risk associated with collisions and derailments but it can be reduced by eradication of the root causes. Exposure and amendment of rail defects are major issues for all rail companies around the world. There are challenges to the infrastructure maintenance individuals to perform effective inspection and cost effective rectification decisions. If addressed properly these can reduce potential risk of rail breaks and derailments. Risk assessment and Failure mode avoidance has become a vital constraint for the organisations to decide a cost effective and improved solution that could meet the financial constraints regarding inspection, renewal and replacement of rails and wheels. This study aims to reduce costs and risks related to rail operation by effective approaches. The issues and challenges related to rail maintenance are outlined. The maintenance strategy followed by most railway companies is also defined. Large Railways infrastructures are the prime manner of transportation in several countries. Improved and better safety measurements are continuously presented but still could not be considered as incidents proof. There will always be some risk related with derailments and other occurrences such as major disruption to services, which can furthered be minimised by detailed examination of the root causes. Some of the causes require improvement in skill and efficiency, for example human error, and some may be improved by optimization of inspection regularity. Therefore, a appropriate thorough study of the defects which develop both on the rolling stock and rail infrastructure is vital to frame out the correct maintenance approach. European Union spends around à ¢Ã¢â‚¬Å¡Ã‚ ¬ 2 billion every year for maintenance and repairing of broken rails (European Commission Cordis, 2017). It is understood that the consequential cost due to derailment decreases with rise in inspection, lubrication an d grinding charges. Risk in railways could be expressed in terms of cost, loss of human lives, infrastructure unavailability, traffic delay and environmental impact which may be caused due to derailment of a train carrying hazardous material. In this report, different kinds of rail defects and maintenance procedures followed are  described. Different risk assessment and failure mode avoidance methods and tools have been discussed briefly in this report. Some of the issues and challenges related to rail  maintenance are also addressed with an aim to reduce the total cost and risks associated with rail operations. Rails are longitudinal steel members that accommodate wheel loads and distribute these loads over the sleepers or supports, guiding the train wheels evenly and continuously. It is one of the most important components of the track structure. Usually a flat bottom rail  is used in conventional railway track, which can be separated into 3 parts: rail head, rail web  and rail foot. Many standards are used for rail profiles. (Kumar, 2007) Figure 1 shows the 2 common rail profiles. Figure 1: Flat bottom and Bullhead rail profiles The rails must possess sufficient stiffness so that they can act as beams and transfer the concentrated wheel loads to the spaced sleeper supports without excessive deflection between supports. (Ernest and John, 1994) Due to economic pressure, there is a world-wide trend to increase axle loads, traffic density  and speed to reduce the operating cost and increase the efficiency of railways. Axle loads  around the world have increased in general from 22.5 to 32.5 Tonnes in last ten years (Allen, 1999). This has led to increased rate of defect formation in rails. Some of the common defects are described in the following sections. 4.1. Shelling Shelling is a defect caused by loss of material initiated by subsurface fatigue. Shelling normally takes place at the gauge corner of high rails in curves. An elliptical shell like crack propagates in the subsurface parallel to the rail surface. When these cracks emerge on the surface, they cause the metal to come out from the crack area. It is generally eliminated by grinding. (Kumar, 2007) Figure 2: Shelling caused by Head Checks 4.2. Head Checks In the crown area, the contact stresses are generally low as it has greater profile radius in  comparison to the gauge side of rail. However, high contact stresses are produced on the high rails gauge corner, which usually has curve radius from 1000 to 1500 m. Head  checks are known to occur in tighter ((IHHA, 2001). If head checks are not controlled, they can cause a rail break. Grinding is the most common practice to remove head checks. Severe head checks need rail section replacement. 4.3. Squats Unlike shelling, squats appear in crown area of straight rail sections. They are surface  initiated defects formed by RCF. A squat is formed by two cracks, a leading crack and a  trailing crack. Both these cracks propagate in opposite direction. These defects could be prevented by grinding. (Kumar, 2007) 4.4. Spalling Spalling occurs, when the surface initiated crack development path is intersected by other similar shallow cracks on the rail head area, a shallow chip of rail material falls out. Spalling is more common in cold climates as rail stiffness increases. Figure 3: Gauge Corner Spalling in rails 4.5. Tache Ovale Tache Ovale is a subsurface defect formed around 10-15 mm below the rail head surface (see Figure 4). This is caused by hydrogen accumulation during manufacturing of rail or when poor welding is done in rails. Thermal and residual stresses also contribute to form this defect. Figure 4: Tache Ovale 4.6. Plastic Flow and Tongue Lipping Plastic flow occurs in rail head area, the depth of which may be up to 15 mm. Plastic flow  occurs on the field side of the low rail due to overloading. Tongue lipping is also a form of plastic deformation, but it is initiated by surface cracks. These cracks partially separate a layer of material from the bulk of rail. (IHHA, 2001) 4.7. Bolt Hole Crack Bolt holes appear in the rail web often starting from the fastening point of fishplates. But  these become weak points to resist crack initiation. These cracks have a very high potential to cause rail break and needs urgent replacement. 4.8. Longitudinal Vertical Crack This is a manufacturing defect, which usually appears in the rail web and may extend in rail  head also. If this crack is intersected by some other crack, it may lead to an early rail  fracture. Odds of sudden fracture due to this become predominant in cold climate. Figure 5: Longitudinal vertical crack 4.9. Transverse Crack Transverse crack is mostly developed in the cross-sectional area of defective weld joints. A  welding defect may be due to variation in weld material or rail manufacturing defect. Figure 6 shows a Transverse crack develops from the centre of the rail head or the rail foot. Use of clean steel and deeper hardening of rail head may avoid its formation. (Kumar, 2007) Figure 6: Transverse crack 4.10. Buckling Lateral buckling in rails is a very common defect in which the rail bulges out on its either side  due to expansion. As the temperature rises, longitudinal expansion in rail takes place. 4.11. Corrugation Corrugation is a rail flaw consisting of the wave-like wearing of the rail tread visualized as  peaks and valleys, in other words, it is a periodic irregularity of the rail surface (IHHA, 2001),  see Figure 7. Figure 7: Corrugation in rails Rail corrugations are the result of a damage mechanism, such as wear etc. Rail corrugations do not pose risk of immediate derailment, but they may be responsible for loosening of rail fastenings, ballast deterioration, increase in noise and vibration level leading to passenger discomfort, etc. Two main types of corrugations which generally occur in rails are: Short pitch corrugations Long pitch corrugation Tables below show the percentage and type of defect detection by different rail infrastructure  companies. Railway First Second Third Fourth Rail track (1999/2000) Squats 21.7% Vertical/transverse 20.1% Horizontal/longitudinal 12.5% Bolt holes 9.6% SNCF (1999) Squats 23.4% Internal fatigue 11.5% Shells 8.4% Thermite welds 4.7% HSPC (1999) Thermite welds 31.5% Wheel burns 17.2% Horizontal split webs 13.3% Bolt holes 11.3% NS (1997) Insulated Joints 59.4% Transverse defects 18% Thermite welds 15% Fatigue Failure 5.2% DB (1996) Thermite welds 29% Sudden fracture 18% Fatigue Failure 16% Electric bonds 4.0 % Banverket (1998) Transverse fracture 55.1% Welded joint 32.7% Horizontal defect 6.1% Vertical split 2.0% HH1 (1999) Vertical split heads 34.7% Thermite welds 20.3% Detail fractures 13.1% Bolt holes 12.2% HH2 (1999) Transverse defects 23.6% Thermite welds 15.5% Wheel burns 13.2% Shells 9.6% Table 1: Causes of defective rails (Source: Kumar, 2007) Rail breaks and derailments can cost the rail players in terms of loss of revenue, property, environmental damage or even loss of life. Estimation of these costs and analysis of risks are important in deciding effective maintenance strategies. In simple terms, risk can be defined as the chance or probability of loss, damage or injury. (Reddy, 2004) 5.1. Failure Mode and Effects Analysis (FMEA) FMEA is a step-by-step procedure for systematic evaluation of the severity of potential failure modes in a system. This process was originally developed in the 1960s, to analyse the safety of aircrafts, but has been since applied to several other fields, including nuclear power plants and the military. (Villemeur, 1992-A) Figure 8: Schematic representation of the FMEA. (Source: Villemeur, 1992-A). 5.2. Risk Priority Number (RPN) Risk priority number (RPN) is a methodology for analysing the risk associated with potential  problems identified during (FMEA) (for details refer Reliasoft, 2005). Assigning RPN requires the analysis team to rate each potential problem per three rating scales: Severity Occurrence Detection After the ratings, have been assigned the RPN for each issue is calculated as mentioned below, RPN = Severity x Occurrence x Detection Rail maintenance issues can be broadly classified into: Inspection issues Issues related to rail wear, RCF and rail welding Rectification and replacement issues 6.1. Rail Inspection Issues The effectiveness of rail inspection depends on the efficiency and accuracy of the inspecting  equipment. It also depends on the skill and experience of inspectors. Error in inspection is an important issue and its reduction is a big challenge. This mainly depends on the technological limitations of the inspection equipment and the skill level of the rail inspectors. Figure 9: Rail inspection issues (Source: Kumar, 2007) 6.2. Issues related to Rail Wear, RCF and Rail Welding Figure 11 outlines the rail maintenance issues. The following sections briefly describe some  of these issues. Figure 10: Rail maintenance issues (Source: Kumar, 2007) 6.2.1. Rail Wear Issues Wear occurs due to interaction of rail and wheel. It includes mild and severe wear. Mild wear takes place slowly but severe wear is often much faster. Severe wear is predominant in curves and occurs dry conditions. Lubrication techniques are used to prevent such wears. Four commonly used techniques which are followed for rail-wheel lubrication are: Top of rail lubricators Wheel flange lubricators Wayside lubricators On board lubricators 6.2.2. Rolling Contact Fatigue (RCF) Issues In the late 1990s RCF accounted for about 60% of defects found by East Japan Railways, while in France (SNCF) and UK (Railtrack) the figures were about 25% and 15%,  respectively. RCF is a major future concern as business demands for higher speed; higher axle loads, higher traffic density and higher tractive forces increase (see Cannon et al, 2003). Rail grinding removes surface metal from the rail head. It is done mainly with intensions to control RCF defects and rail wear. Rail grinding became increasingly recognized for controlling RCF defects from 1980 onwards, prior to that it was mainly focused on corrugation removal. 6.2.3. Rail Welding Issues Small imperfection in welds can cause cracks to initiate. A defect free weld requires skilled  workforce, better weld material along with improved welding techniques and equipment. 6.3. Other Issues affecting Rail Wear, RCF and Rail Welding Risk and cost are analysed by rail infrastructure operators in maintenance decisions. It covers rail lubrication, rail grinding and rail weld. Other important issues are: Rail material Rail traffic density and axle load Track geometry In Conclusion, first a brief overview of rail structure is discussed. Then, diverse range of rail defects and degradation processes have been studied. From the literature analyses done, it is interpreted that there is a need for better ways to monitor and predict rail defects over a period based on operational conditions and maintenance tactics. A good knowledge of risk along with an idea of the methods used for risk analysis is also required. Hence, before improvement of any model or any empirical relationship associated with risk and failure, there should first be a familiarity with risk management tools and failure mode avoidance. This study focuses on some such tools. Also, the issues and challenges related to rail maintenance are discoursed. The aim is to reduce risks related to rail operation that leads to failure mode, by effective decisions associated to rail inspection, grinding, rectifications lubrications, and rail replacements. Some of the challenges in this area include development of cost effective maintenance decisions, reliability and availability of logistics support, which include availability of capable equipment, skilled personnel and availability of rail track. 8.1. References Allen, R., (1999) Finding best practice at the wheel/rail interface, International Railway  Journal, Volume 6, pp. 48-50. European Commission Cordis (2017) AutoScan Rail inspection. Available from: http://cordis.europa.eu/project/rcn/203338_en.html sighted: [February 2017] Cannon, D. F., Edel, K.O., Grassie, S. L. and Sawley, K. (2003) Rail defects: an overview,  Fatigue Fracture of Engineering Materials Structures, Volume 26, October 2003, pp.  865-886. Ernest, T. S. and John, M. W. (1994) Track Geometry and Substructure Management,  Thomas Telfold. IHHA (2001) Guidelines to best practices for heavy haul railway operations: wheel and rail  interface issues, International Heavy Haul Association, May 2001, Virginia, USA. KUMAR, S. (2007). Study of Rail Breaks: Associated Risks and Maintenance Strategies. Lulea Railway Research Center (JVTC)  MIL-STD-1629A, (1980) Military Standard Procedures for Performing a Failure Mode,  Effects and Criticality Analysis, Department of Defence, USA. Available from: http://www.uscg.mil/hq/g-m/risk/e-guidelines/RBDM/html/vol4/Volume4/Toolspec_Rec/FMEA/MIL-STD-1629A.pdf sighted: [February 2017] Reddy, V. (2004) Modelling and Analysis of Rail Grinding Lubrication Strategies for  Controlling Rolling Contact Fatigue (RCF) and Rail Wear, Master Thesis, Queensland  University of Technology, Brisbane, Australia. Reliasoft (2005) Examining risk priority numbers in FEMA, Reliability Edge, volume 4,  issue1. Available from: http://www.reliasoft.com/newsletter/2q2003/rpns.htm sighted: [February 2017] VILLEMEUR, Alain (1992-A, 1992-B). Reliability, Availability, Maintainability and Safety Assessment, A: Vol. 1: Methods and Technique. B Vol.2: Assessment, Hardware, Software and Human Factors: John Wiley Sons. 8.2. Figures: Figure 1: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Rail_profile.svg/800px-Rail_profile.svg.png?1487817217791 Figure 2: http://www.ndt.net/article/v07n06/thomas/fig3.jpg Figure 3: http://www.railwayexpertwitness.com/images/inspect9-300.jpg Figure 4: https://www.researchgate.net/publication/229632336/figure/fig8/AS:[emailprotected]/Figure-1-Tache-ovale-or-kidney-rail-failure.png Figure 5: http://www.ndt.net/article/0698/schub/fig1.gif Figure 6: http://mikes.railhistory.railfan.net/imfile/09192.jpg Figure 7: http://railmeasurement.com/wp-content/uploads/2015/04/corrugation-track1.jpg Figure 8: VILLEMEUR, Alain (1992-A, 1992-B). Reliability, Availability, Maintainability and Safety Assessment, A: Vol. 1: Methods and Technique. B Vol.2: Assessment, Hardware, Software and Human Factors: John Wiley Sons. Figure 9 and 10: KUMAR, S. (2007). Study of Rail Breaks: Associated Risks and Maintenance Strategies. Lulea Railway Research Center (JVTC)

Reasons for Defining and Criminalizing Terrorism in International Law E

Terrorism is focused on a one-sided belief that dictates massive destruction of institutions, foundations and national symbols. It represents a philosophy, which does not comply with common sense. Terrorism acts are a matter of individual psychology, relentless ideology, religious commitment, or political passion. The most devastating terrorism attack in the United States was on September 11, 2001. Other U S attacks were the Manhattan attack in 1997, the Anthrax attack in 2001, a prior World Trade Center attack in 1993, the Wall Street Bombing attack in 1920, and the Kalama City bombing in 1995 (Askshintala, 2013). Terrorism attacks have also taken place in Israel, Greece, Chechnya a border between Russia and European countries and India (Askshintala, 2013). All of these attacks and other attacks that were not as devastating have become much of an international legal debate on terrorism. Terrorism should be criminalized under international law. During the 21st Century acts of domestic and international terrorism have significantly increased. Thus the international community of nations has the challenge to adopt a common approach to the treatment of terrorism as an international crime. The challenge at present is for the international community of nations to adopt a common approach to the treatment of terrorism as an international crime (Lawless, 2008). In fact, terrorism is an international crime it requires the international community to act in the prevention of terrorism and the sanction of individuals perpetrating acts of terrorism(Lawless, 2008). The September 2011 attack on the United States has presented an opportunity for the internationalist forces to come to the forefront of the global political agenda. ... ... of the Terrorist Attack: Economic, Financial and Policy Consequences. Retrieved from Council on Foreign Relations Web site: http://www.cfr.org/terrorism-and-the-economy/aftermath-terrorist-attack-economic-financial-policy-consequences/p4041 Lawless, M. (2008, October 8). Terrorism: An International Crime. Retrieved from Canadaian Military Journal: http://www.journal.forces.gc.ca/vo9/no2/05-lawless-eng.asp Saul, B. (2014, February 28). Three Reasons for Defining and Criminalizing Terrorism. Retrieved from Esil-sedi.eu Web site: http://www.esil-sedi.eu/sites/default/files/Saul_0.PDF Staff. (2013, November 7). Dictionary. Retrieved from World Net Princeton Web site: http://wordnetweb.princetion.edu/peri/webwn?s=terrorist%20group Walker, J. (2001, September 15). The Cause of Terrorism. Retrieved from No Beliefs.com Web site: http://www.nobeliefs.com/terrorism.htm