Essay Example on Chinese Yuan Joins Global Currencies, Post-Economy Liberalization

Introduction

On November 30th 2015, the Chinese Yuan was added to the globally-accepted currencies, joining the American Dollar, the British Pound and the Euro. This inclusion came after the excellent performance of the Chinese economy in the global economies as well as their move to liberalize their markets. Before the liberalization of the economy and currencies in recent years, china had been fixed the exchange rate of their currency against the Dollar to 8.699 on January 7th 1994. Until the relenting of the offer to allow the residents of Hong Kong to trade using the Dollar, the Dollar traded at the fixed rate prescribed by the government. However, the move to allow for the market to be liberal was informed by the changes that occurred in the country in the period between the steps to set the exchange rates and now, when the market is fully liberalized, and individuals can make their own decisions without government interference in their activities.

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First, the population of the country played a role in the liberalization since the large population meant that the economy was growing fast and that the industries in the country needed to be allowed to trade on their terms. Secondly, there was political pressure on China to stop the government inference in trade and economic issues, since it was negatively impacting the country locally and internationally. In 2005, the cap that had been put on the exchange policies in China was lifted, and there is a need to ensure that the trade protects both the traders and governments, just like the caps had done in the past. There are also economic challenges that come with the adoption of the new strategies, the most notable one being inflation of prices, meaning that while the economy may be enjoying commercial success, the Yuan may be losing the value it once enjoyed in the financial market.

Carnival Cruise Lines

Sea travels have been around for the entirety of human existence, but it is only recently that the mode of transportation was adopted for leisure purposes. A cruise is travelling on the sea for leisure purposes, with the voyagers enjoying the sea goes for a given period as they move on the sea, enjoying the entertainment provided on the ships as well as enjoying the sights of the ocean and the aquatic wildlife that is not seen in the shallow ends of the sea. Carnival cruise lines came to be accessible when two companies, the Carnival and Royal Caribbean came together to offer to voyage for pleasure. As of now, they command at least 71% of the market share of the carnival lines.

The idea of the carnival is to offer the travellers the opportunity to travel in style and helping them unwind; unlike in the formal setting of the other liners whose purpose is strictly to transport. The companies undertaking the cruising business have to make the necessary arrangements to ensure that they are duly registered and that they have the permits required to cruise in international waters. There are several requirements for the establishment of a travelling company, with the procurement of the ships to be used, finding the crew that will be running the vessel, and establishing the facilities and amenities within the ship that will bring in the fun factor of the cruise. Security and safety have to be addressed, with insurance and the necessary safety measures being taken care of to ensure that the ship is secure for use for the parties involved. The weather factors have to be taken into consideration since the cruises are supposed to be fun expeditions, and therefore the journey should avoid bumpy rides.