Vietnam How And Why The United States Got Involved Essays

Vietnam: How And Why The United States Got Involved Vietnam: How and Why the United States Got Involved The contention in Vietnam which is additionally called the Ten Thousand-Day War was a progressing fight from 1945 to 1975. In the 30 years of battling, the United States would lose more than 57,000 men while Vietnamese dead numbered 2,000,000 (Maclear 2). The Vietnam War is extremely fascinating in light of the fact that numerous individuals have thought about how and why the United States engaged in a war that truly didnt appear to concern them. American inclusion formally started in 1950 when the US government perceived the Bao Dai government and started sending the French guide to fend off the socialist supported Viet Minh drove by Ho Chi Minh (Scheer 10). The French lost the war since it was not completely dedicated to a success strategy (Scheer 10). The Bao Dai, hostile to Communist patriot elective, whom the Truman and Eisenhower Administrations had sponsored, had neglected to undermine the intrigue of the Viet Minh (Scheer 11). The cost of harmony included the giving up of some part of the nation to the Communists, and the United States couldn't contradict since it had not gotten profoundly included (Scheer 12). The United States rather positioned its expectations on another enemy of Communist patriot option and his name was Ngo Dinh Diem. Diem acknowledged the offer and on July 7, 1954 his administration was officially composed. This began another period of U.S. inclusion in Vietnam. Congressperson John F. Kennedy suggested, so as to forestall the further spread of socialism in Southeast Asia, that the French award autonomy to South Vietnam, bolster the legislatures armed force, and at whatever point necessary[make] some responsibility of our labor (Scheer 15). The settlement at Geneva in July, 1954, completed three things: 1) it finished the war; 2) partitioned Vietnam down the middle incidentally; and 3) called for harmony and reunification of the nation (Scheer 16). Diems government had faith in close focal control to occupy the patriot unrest from Communist destinations (Scheer 21). During the main year of the new government, Diem squashed all wellsprings of restriction left over from the Viet Minh (Scheer 21). By 1959, in the North, the Viet Minh had discounted the chance of the decisions that they should get and went to military methods. This finished the deceptive strength of the Diem system (Scheer 46). Diem knew that his administration couldn't get by without the monstrous guide from the United States so he put together his entire intrigue with respect to against socialism (Scheer 56). Be that as it may, at that point, with the Communist threat the reason for guaranteeing proceeded with American guide, the protected wide open out of nowhere was invaded with Communist psychological militants (Scheer 56). Toward the finish of April 1960, eighteen Vietnamese aristocrats requested of Diem to change his system. The appeal said constant captures had filled detainment facilities to flooding and attested that a swollen Government administration was degenerate and wasteful (Scheer 59). In 1961 Edward Landsdale was sent to Vietnam to make a general investigation of the circumstance. He announced that the circumstance was close to add up to crumple and that if the arrangements of the Diem government and its guides kept on being sought after the nation would before long be lost (Scheer 60). It was then chosen to expand the Vietnamese Army from 150,000 to 250,000, which was an immediate infringement of the Geneva Accords, to focus its preparation on counter-rebellion (Scheer 62). The last episodes that prompted the upset were a train of misuses, no single one of which was essentially more significant than some other, despite the fact that the emotional Buddhist emergency is much of the time refered to as the issue that crosses over into intolerability; it was one straw, a sensational on. On November 1, the officers arranged an upset and at long last Diem was murdered (Trager 179). In the spring of 1961, the magazine press started to update its image of Diems government (Scheer 66). Jerry Rose, who was a specialist on Vietnam, acknowledged the regulation arrangement after Diems evacuation and bolstered the abrogating need for halting the spread of socialism in Vietnam. He says: To summarize: one arrangement now for the U.S. has all the earmarks of being a demonstration of intensity in South Vietnam which would make ready toward a bargaining settlement. Be that as it may, is the danger of a strategic maneuver justified? Southeast Asia has

Essay on Macbeth and its Unbelievable Lady :: GCSE Coursework Macbeth Essays

Macbeth and its Unbelievable Lady   â In William Shakespeare's catastrophe Macbeth which character is more creatively made than that of Lady Macbeth? Can a woman really think as such without being called crazy. We look at the different elements of her character in this paper.  L.C. Knights in the exposition Macbeth portrays the unnaturalness of Lady Macbeth's words and activities:  Along these lines the feeling of the unnaturalness of insidiousness is evoked not exclusively be rehashed unequivocal references (nature's devilishness, nature appears to be dead, 'Tis unnatural, even like the deed that is done, etc) yet by the outflow of unnatural estimations and an unnatural savagery of tone in such things as Lady Macbeth's summon of the spirits who will unsex her, and her assertion that she would kill the angel at her bosom in the event that she had promised to do it. (95)  Samuel Johnson in The Plays of Shakespeare underscores how aspiration by the heroes prompts loathing with respect to the perusers:  The peril of desire is all around depicted; and I know not whether it may not be said with regards to certain parts which currently appear to be unrealistic, that, in Shakespeare's time, it was important to caution credulity against vain and illusive expectations. The interests are coordinated to their actual end. Woman Macbeth is simply loathed; and however the fearlessness of Macbeth protects some regard, yet every peruser celebrates at his fall. (133)  In Memoranda: Remarks on the Character of Lady Macbeth, Sarah Siddons remarks on the Lady's cool way:  [Macbeth] reports the King's methodology; and she, torpid it ought to appear to all the risks which he has experienced in fight, and to all the satisfaction of his sheltered come back to her, - for not one kind expression of welcome or congrats does she offer, - is so altogether gobbled up by the awful plan, which has likely been proposed to her by his letters, as to have overlooked both the one and the other. (56)  In his book, On the Design of Shakespearean Tragedy, H. S. Wilson portrays the job of Lady Macbeth:  Teacher Kittredge used to call attention to his classes that Lady Macbeth, in encouraging Macbeth to act, utilizes the three contentions that each spouse, some time or other, uses to each husband: You guaranteed me you'd do it! You'd do it on the off chance that you adored me! On the off chance that I were a man, I'd do it without anyone else's help! But Macbeth's psyche is made up by her affirmation that they may do it securely by fixing the blame upon Duncan's chamberlains.

Everyday Is Like Sunday

Everyday Is Like Sunday While theres no delivery of post today, I can assure you that the good men women of the United States Postal Service are even as I write moving your mail closer and closer to your mailbox. We have mailed all of the letters first class, and I hope nearly everyone will have received a decision by Wednesday. On Friday, well begin giving decisions over the phone to the applicant only. People have asked about the breakdown of the numbers beyond the 383 we admitted, how many applications did we defer, and how many did we deny? Last year, we denied 226 students during early action. While I dont have final numbers for this year, I can tell you that this year, we denied les than half that number. The early pool this year was very strong. On the topic of the strength of the early pool, I must say just how difficult it was to narrow it down from more than 2800 applications to the 383 we could admit. There were some applications I couldnt believe we had to defer. I fully expect that this years deferred applications will look quite strong during regular action. It would be completely impossible to predict how many deferred applications well admit during regular action, though, and we dont set any target for that number. We wont have a final count of regular action applications for another month or so, and I dont know what the ultimate target for admits is this year. A few notes, for the record: Your comments on this or any other blog did not have any bearing on admissions decisions. Also, any one admissions officer sees well less than a majority of the applications, so the odds are that myself or Ben or any other individual admissions officer did not see and decide on your application. Its a committee decision, and we do the best that we can to treat the entire applicant pool fairly. Finally, Id like to leave you with the words of Ben, who said it just right. Please, please, dont take the MIT admissions decision as any indication of your potential. You are all superstars, truly. And each of you is going to make the world a better place, whether or not you go to MIT. Its the truth.

Environmental Responsibility The Bp Disaster - 2065 Words

Introduction Arguably, today’s biggest ethical dilemma is environmental responsibility because it is truly our biggest investment in the future. There have been many environmental problems created by business one of the best know was the BP disaster. On the other side you have many businesses that have taken the environmental responsibility in their own hands, such as BestBuy and their fight with electronic waste. Many companies may choose to ignore the environment, they may use the excuse that environmental responsibility is too expensive for their business or that there is nothing they could do to actually help with environmental responsibility. However, this is not true there are things that any business can do to help the environment, no matter how big or small they may be. Environmental Responsibility Defined To be environmentally responsible a corporation must bring the environment impact of each decision into the decision making process. They must weigh the pros and cons of the way that a decision of the organization could impact the environment now and in the future. A key factor of being a responsible corporation means to act on issues before they are a requirement from the government, in other words it means to be proactive. Being environmentally responsible means to put profitability or returns on their investments on the sidelines and focusing fully on what decisions are best for the environment. Corporations that decide to join this journey are focused onShow MoreRelatedBeyond Petroleum ( Bp )1192 Words   |  5 PagesBeyond Petroleum (BP) formerly British Petroleum is a company that claims to be devoted to finding new energy sources with little impact on the environment. Ferrell, Fraderich, and Ferrell, explain in their Business Ethics textbo ok in 2012 that after several environmental tragedies in the mid-to late 2000’s, the company had to reassess their ethical standards and make changes to repair their image and regain the confidence of their stakeholders. During this time, they began investing in wind, solarRead MoreThe Planning Function of Management at British Petroleum1241 Words   |  5 PagesBP organization direction Planning function of management British Petroleum (BP) has had their key successes from the various strategies and goals that the organization has which include the companys technology transformation and alignment of objectives to the analysis of its competitors and market conditions. This is what has helped to make BP a successful company. The company believes that the essence of its survival is its ability to gain strategic and competitive advantage which has helpedRead MoreThe Hurricane Katrina Disaster And The Bp Oil Spill Tragedy941 Words   |  4 Pagesand sustainability market approaches to business environmental responsibilities. The paper focuses on two major occurrences; the Hurricane Katrina disaster and the BP oil spill tragedy. Hurricane Katrina entered into records as one of the worst disasters ever to hit the US, the storm is considered as the most disastrous and damaging in the US history in 2005. Well over 1800 people died in the hurricane disaster and the floods that followed the storm. Total assetsRead MoreEssay BP- Texas City Oil Refinery Explosion (2005) – Case Summary 1591 Words   |  7 PagesBP is the leading energy company. BP took its name from the initials of the company’s previous official name British Petroleum. The company was trying to persuade everyone that it was an environmental friendly company that was using and develop alternative energy technology. During its existence it paid so much in fines for pollution that it is become obvious that management did not really care about the environment, but only about maximizing profit in anyway. It was easier for them to pay finesRead MoreSocial, Cultural and Environmental Responsibility of Corporate Business Le aders1482 Words   |  6 PagesIntroduction Corporate social responsibility is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company s actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholdersRead MoreBp and Stakeholder Mismanagement1598 Words   |  7 Pagesmishaps such as the disasters in Alaska and Texas. Specifically, BP s defensive approach towards stakeholder management led to lavish compensation for upper level management while creating hazardous working conditions for employees and a burden on all of society in the form of rising oil prices and environmental damage. Background British Petroleum was founded in 1908 and since then has rapidly grown to become the eighth largest company in the world . However, as of late, BP has come under fireRead MoreBp Oil Spill Essay1507 Words   |  7 PagesBP oil spill is ranked as the largest environmental disaster in the world history. As the oil from BP spill washes ashore, people on Gulf Coast are suffering huge damages they have never met before. The U.S. government estimates that up to 60,000 barrels of oil a day are spewing out from the damaged BP drilling rig to Gulf of Mexico. It has ruined the shoreline, killed animal and sea life, threaten the ecosystem and harmed the tourism and fishing in Louisiana. After the spilling happened, US governmentRead MoreBp The Deepwater Horizon Oil Spill Of 2010758 Words   |  4 PagesPrior to the Deepwater Horizon oil spill of 2010, BP had a positive reputation for promoting corporate sustainability and creating sustainable energy. In the wake of the oil spill, however, BP proved that it was not on the right track despite the proclamation to its constituents of the exact opposite. There is a popular adage â€Å"almost doesn’t count.† BP’s investment in research directed toward minimizing negative environmental impact while conducting business and accomplishing major undertakingsRead MoreBPs Commitment to the Recovery of Natural Resources863 Words   |  3 Pagesprojects are part of BPs commitment to provide up to $1 billion in early restoration funding to expedite recovery of natural resources injured as a result of the Deepwater Horizon accident. The early restoration framework agreement signed in 2011 requires BP and the trustees to agree upon the potential projects, funding and the natural resources benefits the projects are expected to provide. The trustees then implement the projects. The agreement makes it possible for restoration to begin at an earlierRead MoreDeepwater Horizon Oil Spill in the Gulf of Mexico Essay1078 Words   |  5 PagesExxon-Valdez disaster, a massive inquiry into the underlying cause of the Deepwater Horizon tragedy has begun. Many people are wondering if this was a case of poor engineering, corporate greed, negligence, or even simple operator failure. Regardless of the cause, the crude oil is beginning to reach the United States coastline, and a guaranteed fix for the leak is nowhere in sight. In todays technologically advanced world, when a disaster like this occurs it is the responsibility of those involved

Gettysburg Turning Point Of The War Essay - 1907 Words

Gettysburg: The Turning Point of the War On July 1, 1863, the Union Army of the Potomac engaged the Confederate Army of Northern Virginia which had advance into the north. This would be the battle of all battles; it would be the bloodiest battle of the Civil War. Three days of warfare resulted in a Union victory at the cost was 51,000 American casualties. The Southern reason for rebellion was to break away from the Union and become a separate country, the Confederate States of America. Up to this point the rebels were winning battles with the successful leadership of their Southern generals. The Union was in trouble; their armies were getting beaten even while out numbering and being better supplied than their foes. The North, by†¦show more content†¦The Confederate army had been doing what was needed. By repelling the Union armies out of the South the Confederacy lived. After two years the South had been doing a good job. President Lincoln and the American people loyal to the Union were not happy about h ow the war to restore the Union was going. Lincoln did not know what to do. He had already gone through many generals because they could not get the results the country needed. As the years of war continued, the Northern people were tired of the fighting and showed it; the enlistment numbers were getting lower every day. Many working-class men raised the slogan, Its a rich mans war but a poor man fight. (Davis p.231) Lincoln and the Union were in a bad situation. Now Lincoln replaced the commanding general, Joseph Hooker, with General George Meade. Lincoln was not pleased with the ground that Hooker had attempted to gain. Meade had been long enough in the war to want to give the Confederates one thorough licking before any peace is made. (Beringer p. 261) Lincoln on Meade. General Meade might be a solution to Hookers disappointment. The President still had a problem with the manpower needed to fight the war. The Enrollment Act of Conscription passed on March 3, 1863. This resulted in anger and protests; few wanted to fight an endless war. The Unions prospects looked grim in its ability to win the war.Show MoreRelated The Battle of Gettysburg as the Turning Point of the Civil War1603 Words   |  7 Pages  Ã‚  Ã‚  Ã‚  Ã‚  Gettysburg was the turning point of the American Civil War. This is the most famous and important Civil War Battle that occurred over three hot summer days, July 3, 1863, around the small market town of Gettysburg, Pennsylvania. More importantly Gettysburg was the clash between the two major American Cultures of their time: the North and the South. The causes of the Civil War, and the Battle of Gettysburg, one must understand the differences between these two cultures. The Confederacy had anRead MoreThe Battle Of Gettysburg As A Turning Point Of Civil War1048 Words   |  5 PagesWhy was the Battle of Gettysburg considered a turning point of Civil War and what are the economics impacts of the event during the time? I. Introduction This purpose of this paper is to show why the Battle of Gettysburg was considered a turning point in Civil War and what are the economics influences of the outcome during the time of the event. The influences on both North and South’s markets are studied and will be shown whether any changes were made during the turning point. II. Body 1. Why consideredRead MoreThe Battle of Gettysburg: The Turning Point of the Civil War861 Words   |  4 PagesThe Battle of Gettysburg the Turning Point of the Civil War Was the Battle of Gettysburg a sufficient enough victory to actually turn the tide of the Civil War? Was three days of fighting enough to make that much of an impact on a war that lasted two more years after this famous battle? Well that is what I will be discussing in this paper. I will be going over each day of the battle and how they ultimately led to a Union victory and a turning point in the Civil War. Day one, July 1, 1863, was theRead MoreThe Battle of Gettysburg: Turning Point of the Civil War Essay2668 Words   |  11 PagesIntroduction Americans had been engaged in a Civil War which had been begun in April of 1861 with shots fired on a fort in South Carolina. In the summer of 1863 in a small town called Gettysburg, there would be a fierce battle fought between the Union Army of the Potomac led by General George G. Meade and the Confederate Army of Northern Virginia led by General Robert E. Lee. The events of the battle would overcome the losses suffered by the Union and put the Confederacy on the run. â€Å"Over 165Read MoreThe Battle Of Gettysburg Was The Turning Point Of The American Civil War837 Words   |  4 PagesThe Battle of Gettysburg was the turning point of the American Civil war. General Robert E. Lee was the commanding officer of the Confederate army. During the battle of Gettysburg Lee’s military strategy was to fight offensive. Lee’s goal during the battle was to seize the high ground and out last the union army. The Union army had outnumbered the Confederate soldiers. General Lee ’s first hand man was General James Longstreet. Longstreet believes the new technology in warfare would make attackingRead MoreThe Battle Of Gettysburg : Why Was It A Turning Point?1361 Words   |  6 Pagesof Gettysburg: Why Was It a Turning Point? â€Å"Death created the modern American union, not just by ensuring national survival, but by shaping enduring national structures and commitments. The work of death was Civil War America s most fundamental and most demanding undertaking†Ã¢â‚¬â€ Drew Gilpin Faust. Death in the Civil War was indeed a principle in creating the America we know and love today. This was the bloodiest war in United States military history. Within the war was the Battle of Gettysburg, aRead MoreWhy Was the Battle of Gettysburg a Turning Point? Essay example729 Words   |  3 PagesBattle of Gettysburg a Turning Point? (May 8, 2013 What comes to mind when you hear the words â€Å"The Battle of Gettysburg†? To me, I think of the event itself. The United States was two years into the Civil War, when the bloody battle in Pennsylvania broke out. General Lee, also known as the general of the Confederate army, plotted an attack at Gettysburg, Pennsylvania. The battle started on July 1st, 1863 and continued on for 3 straight days. In just those 3 days, it turned the Civil War around.Read MoreThe Battle Of Gettysburg : Why Was It A Turning Point?1272 Words   |  6 PagesThe Battle of Gettysburg: Why Was It a Turning Point? War is truly like hell. There is no doubt that any war is an evil one. It is the greatest catastrophe that can befall human beings. It brings death and destruction, merciless slaughter and butchery, disease, starvation and poverty in its wake. Though war brings all kinds of trouble, sometimes it can save a country. In 1861 a Civil War broke out in America. It started because of uncompromising differences between the free and slave states overRead MoreThe Battle Of Gettysburg And A Website Article From The New World Encyclopedia1320 Words   |  6 PagesThe battle of Gettysburg is seen today as the turning point of the war, and after the analysis of these historical documents its clear why the bloodshed at Gettysburg was as significant as it was being able to turn the tides of the war. Two sources that are going to be used in this are a website article from History.com: â€Å"Battle of Gettysburg† and a website article from the NeW World Encyclopedia: â€Å"Battle of gettysbu rg†. These sources will be analyzed by their origin, purpose, content, value andRead MoreThe Battle Of The Confederate Forces1233 Words   |  5 Pagesslow their advances. General Buford and his troops successfully stalled the enemy until their reinforcements arrived. The Confederate reinforcements, led by Generals Hill and Ewell. The Confederacy forced the Union Army to retreat back through Gettysburg to the south of the town. There they joined the main Union forces led by Major General George Gordon Meade, who had been at the same time preparing to meet the Confederacy’s main forces led by General Robert E. Lee (www.history.com, 2015). Major

Rigging Standards Free Essays

Rigging Standards 1) How did Preston Lansing Probably ‘rig’ the standard costs-are the standards set too high or too low? Explain The standards are set too high. When the products are run at a lower cost than the standard, then this produces a favorable variance. The cost of goods sold and variance should net to the correct cost though and this is the reason the system creates the variance. We will write a custom essay sample on Rigging Standards or any similar topic only for you Order Now Lansing set a loose standard which the standard quantities and standard price are high, flowing this situation favorable variances will ordinarily result from operations.When the standard cost set artificially high, the standard cost of goods sold also will be artificially high, and then the division’s net operating income will be depressed until the favorable variances are recognized. If Lansing saves the favorable variances, he can release just enough in the second and third quarters to show some improvement and then he can release all of the rest in the last quarter, by creating the annual Christmas present. The problem is any inventory is to be overvalued because of wrong standards. Finished goods inventory is valued at the standard cost. If there is a lot of inventory at an inflated cost, then the cost of goods sold is being reduced on the income statement too much because of this. If the inventory were to be revalued at its correct standard cost, there would be a large expense to the income statement. It is better to build a inventory each quarter. 2) Should Preston Lansing be permitted to continue his practice of managing reported earning? He should not permit to continue this practice, because it distorts the quarterly earnings for both the division and the company.The distortions of the division’s quarterly earnings are troubling because the manipulations may mask real signs of trouble and it may mislead external users of the financial statements. Lansing should not be rewarded for manipulating earnings because the permissive attitude of top management toward the manipulation of earnings may indicate the existence of other, even more serious, ethical problems in the company. At the end a clear message shou ld be sent to division managers like Lansing that their job is to manage their operations, not their earnings. If they keep on top of operations and manage well, the earnings should take care of themselves. 3) What should Stacy Cummins do in this situation? She has already taken the problem to the President, who was not interested. If she goes around the President to the Board of Directors, maybe she will be putting herself in a politically difficult position because the Board of Directors already knows what is going on. But if she simply goes along, she will be violating the â€Å"Objectivity† standard of ethical conduct for management accountants.The Home Security Division’s manipulation of quarterly earnings does distort the entire company’s quarterly reports. And the Objectivity standard clearly stipulates that â€Å"management accountants have a responsibility to disclose fully all relevant information that could reasonably be expected to influence an intended user’s understanding of the reports, comments, and recommendations presented. It is better to bring the manipulation of earnings to the attention of the audit committee of the Board of Directors. Prepared by : Sanaz Sadeghi How to cite Rigging Standards, Papers

Global Coal Market Demand and Market Supply

Question: Discuss about the Global Coal Market Demand and Market Supply. Answer: Introduction: Coal is a necessary commodity for industrial and domestic consumption. The market demand and the market supply of coal are the main determinants of the price of coal. Price expectations by consumers also determine the price of coal to some extent. There are many reasons why the price of coal has continued to fall over the past two years in spite of the fact that coal is the main energy source of the world and is hence an essential commodity for the world economy as a whole. One of the major reasons behind this fall in the price of coal could be that due to pollution emissions, availability of cheaper substitutes like natural gas and also increased regulations, the demand for coal has dropped considerably. (Ambrose and Chan, 2016) All the major economies of the world are cutting down on their consumption of coal. This is because economic activities have slowed down in some of the coal-importing countries like India as well as China. (Gloystein, 2015) The US coal market has faced a sev ere slow down due to competitive reasons. (Topf, 2015) The global demand for coal has fallen as a result of all this and given the supply prices are declining. Even restrained supply is unable to support the price. The coal market is demonstrated in the following diagram: (Pindyck and Rubinfeld, 2012) In Figure A, the demand curve for coal shifts from DD to DD. Supply remaining constant, the fall in price is from P* to P and the fall from Q* to Q represents the fall in equilibrium quantity. This decline in the price of coal is supposed to be irreversible. (Cunningham, 2016) Effects Of Falling Coal Prices On Different Economies Countries importing coal generally benefit out of a fall in coal prices; whereas countries that export coal lose out. Effects Of Falling Coal Prices On Coal-Importing Economies Falling international coal prices have benefitted Japan and India which are majorly coal-importing countries. The demand for coal is price inelastic given that coal is a necessary commodity. This means that any change in coal prices will be followed by a less than proportionate change in the demand for coal. Consequently, when coal prices fall, the import bill of these countries also falls because demand does not change considerably. Thus, a part of the money saved out of the reduction in the import bill is now spent on domestic consumption thereby increasing the demand for domestic output. Imports are leakages from the GDP, hence when the import bill falls, the GDP of an economy increases and this leads economic growth. Falling import bills generated out of falling prices of coal reduces the current account deficits of countries importing coal and this boosts their long-run growth prospects. Japan is most likely the largest coal importer globally. Hence it benefits the most out of falling coal prices. The GDP of the country is augmented on account of generation of current account surplus. Tax and fiscal networks can also be improved as a result of this. But deflation can result out of falling coal prices which might reduce the investment on domestic energy resources. Almost all of the coal consumed by the Indian economy comes as imports because India does not specialise in the self-production of the same. Falling import bills arising out of falling coal prices affects the country in different ways. The current account deficit is reduced along with a fall in the inflation rates. Moreover, India has also cut down on the imports of coal. Thus falling coal prices is accompanied by falling demand. This leads to a considerable fall in the import bill from coal and hence the GDP of the economy is pushed up. (Gloystein, 2015) China is also a major importer of coal in the global economy. It has also reduced its consumption of coal substituting it for other cheaper and relatively less harmful energy sources. Hence, for China also, the import bill from coal has fallen. Effects Of Falling Coal Prices On Coal-Exporting Economies Falling coal prices have large scale adverse effects on the coal-exporting countries like Australia or Indonesia. Since coal demand is price inelastic, falling coal prices do not lead to considerably increased demand for coal, that is, the increase in the demand for coal is less than proportionate with respect to the fall in price. Moreover, globally, coal consumption is being cut down gradually. This leads to the reduction in export bills of coal-exporting countries. Exports form a positive component of the GDP. Hence, falling export bills adversely affects the GDP of the economy thereby reducing its growth potential. One of the biggest coal exporters in the world, Australia, has been facing falling coal prices over a considerable period of time. (Gloystein, 2015) Due to unchanged production costs the financial situation in the economy has worsened. Moreover, the vulnerability of the economy has increased due to the increased volatility of coal prices. This is because coal, a primary production contributes to the fiscal revenue. Though Indonesia is a small exporter of coal relative to Australia, yet it has been similarly affected as coal revenue forms a huge part of its GDP. However, the country is cutting down on the production of coal. The government has time and again intervened in the coal market to stabilize the coal prices. The main policy was to cut down on production if prices continued to fall. (Cahyafitri, 2014) Effects Of Falling Coal Prices Coal-Producing Countries For countries like USA or China who are themselves major producers of coal and cater to the domestic as well as global coal market, the falling coal prices have affected the domestic economy in many ways. Falling global coal prices have to be accompanied by falling domestic prices to avoid competition. This adversely affects domestic coal producers who experience a fall in the revenue from coal. However, the coal production is also being cut down gradually as coal is being substituted by natural gas and other energy sources. (Houser and Marsters, 2016) The overall effect on these economies is somewhat ambiguous. The main reason for the declining coal demand and the falling prices is the slow-down of the Chinese economy which accounted for a major part of global coal consumption. (Topf, 2015) Effects Of Falling Coal Prices On Different Industries Industries That Benefit From Falling Coal Prices Industries using coal or other coal products as their primary production inputs such as the iron and steel industry, etc will gain from a fall in the coal prices. Falling coal prices reduce costs of production in these industries thereby boosting economic growth. For example, the steel industry in the coal-importing country India has gained majorly from the falling coal prices because of the usage of blast furnace in the production of steel. (Roy, 2014) Even the power sectors which use coal as an intermediate input gain from falling coal prices. (Prithiani, 2014) Industries That Lose Out From Falling Coal Prices For the coal industry a fall in coal prices will lead to huge losses. Coal miners will incur heavy losses from these falling coal prices. Moreover, since the demand for coal is also falling, the total revenue for the global coal market is reducing and will continue to do so. Indonesia has been known to be losing out majorly from this issue. (Taylor, 2015) The lobby group of the global coal industry has been adversely hit by the declining prices as well as declining demand. (Burton, 2016) Moreover, when coal prices fall, it generates deflation in the economy, that is, prices fall. This affect several industries adversely. An estimate states that almost 65 percent of the global coal production has been incurring losses and hence coal is labelled as a loss-making industry for the global economy as a whole. (Ker, 2015) References Ambrose, J. and Chan, S. (2016). Record fall in Global coal consumption driven by low oil price. The Telegraph, [online] Available at: https://www.telegraph.co.uk/business/2016/06/08/record-fall-in-global-coal-consumption-driven-by-low-oil-price/. [Accessed 31 August 2016]. Burton, B. (2016). The global coal industrys lobby group is losing money. [online] energydesk.greenpeace.org. Available at: https://energydesk.greenpeace.org/2016/07/07/the-world-coal-association-is-losing-money/. [Accessed 31 August 2016]. Cahyafitri, R. (2014). Govt to step in to stabilize declining coal price. The Jakarta Post, [online] Available at: https://www.thejakartapost.com/news/2014/10/01/govt-step-stabilize-declining-coal-price.html. [Accessed 31 August 2016]. Cunningham, N. (2016). The Decline of the Coal Industry is Long-term And Irreversible. [online] oilprice.com. Available at: https://oilprice.com/Energy/Coal/The-Decline-Of-The-Coal-Industry-Is-Long-Term-And-Irreversible.html. [Accessed 31 August 2016]. Gloystein, H. (2015). Australian coal prices fall to pre-2008 crisis levels. [online] smh.com. Available at: https://www.smh.com.au/business/mining-and-resources/australian-coal-prices-fall-to-pre2008-crisis-levels-20150325-1m7b1x.html. [Accessed 31 August 2016]. Gloystein, H. (2015). 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