Financial Crisis in Asia Term Paper Example | Topics and Well Written Essays - 2250 words

Financial Crisis in Asia - Term Paper Example   South Korea had a very strong economy but a high level of debt which existed in the economy was given very little attention. The borrowed funds by the South Korean economy were invested very wisely in assets so it made perfect sense and reassured the economic stability, but when the funds were invested in assets it also gave rise to various risks pertaining to the same. The short debts touched alarmingly high levels in the South Korean economy, â€Å"In 1992 short term debt constituted about one-third of its total borrowing, but by 1996 short term debt had risen to two-thirds of its total of $158 billion of foreign debt. South Korean firms were operating at a high degree of leverage. The typical leverage ratio for South Korean firms was in the neighborhood of six to one and some South Korean firms had leverage ratios of 600 to one.† The crisis in South Korea was triggered by the collapse of Thai Baht (currency of Thailand) in 1997. The currency had devalued due to stemming of reserve outflows by the central bank in order to ensure growth for money supply in the crisis period. The strategies adopted by the South Korean economies always left them prone to many dangers, a classic example of the same follows: The Korean First Bank got itself in a vulnerable position because of the hefty amount of loan issued to Hanbo group, with in no time the Hanbo group went bankrupt and its inability to pay the loan back to the Korean first bank resulted in the bankruptcy of Korean Bank.  

Accounting fraud Research Paper Example | Topics and Well Written Essays - 1250 words

Accounting fraud - Research Paper Example This paper identifies research problem and purpose in a research paper, aligns the problem and purpose to identify strengths and weaknesses of qualitative research methods and case study design, and justifies selection of qualitative methods and the case study design over other research methods and designs. Overview of the research problem and purpose Fraud, a deception or misrepresentation that aims at deriving unauthorized gain, is a common phenomenon in organizations and has extensive effects on different stakeholders. Examples of fraud include employee embezzlement, vendor fraud, customer fraud, and management fraud including financial statement fraud (Albrecht et al, 2012). Prevention is the most economical approach to managing fraud but limited research has been conducted on the best technique for preventing fraud besides rule-based-strategies. Sufficient research has however been done on other control measures such as auditing. Lack of empirical findings on fraud prevention st rategies is therefore the research problem with focus on in-house data forensic and developing an understanding on the factors affecting in house data forensic is the research’s purpose. Alignment of the research problem, purpose The research problem and purpose can be explored through qualitative research methods and case study design. ... One of the characteristics of qualitative research is its flexibility that allows for adequate alternatives to exploration. Its methodology allows for development of designs, procedures, and data collection strategies within research processes, a property that maximizes data utility because suitable and adequate data is collected for research. The research method also focuses data interpretation and therefore relies on few variables for specific purpose. It is therefore able to overcome limitation of data on variables and develop meaning on a problem. Another feature of the qualitative approach, based on Academic Conferences, is its objective of a comprehensive and informed description of a subject. The aim of the study, being an understanding of in-house data forensic therefore identify this property’s significance because a complete definition of the forensic approach and description of its features and factors around it will inform of its potential challenges and optimal ap plication in fraud prevention. A qualitative researcher do not need much information prior to research and this not only identify ease of implementation but establishes a strength in research fields that have not been explored and therefore lack sufficient background information. The researcher is also able to approach the study from a neutral perspective because of lack of pre-emption (Academic Conferences, 2010). Flexibility is also strength of the method, also though it is also a characteristic feature. Selected research design can be reviewed at any stage of the research process to facilitate the objectives. Flexibility also allows the method to adjust to challenges that may emerge during a research process or dynamism

Role of Anti-MCV in Arthritis

Role of Anti-MCV in Arthritis Introduction Rheumatoid arthritis (RA) is characterized by joint inflammation resulting in severe deformity, thus, early management is crucial. At a time, rheumatoid factor (RF) was considered the gold standard for diagnosis, however, more specific and sensitive auto-antibodies have been reported. Antibodies against citrullinated peptides, the peptides modified by the conversion of arginine to citrulline, have then been regarded as specific serological markers for RA (Klareskog et al., 2008; Engelmann et al., 2008). Citrullination is a process of protein unfolding, altering protein structure resulting in aberrant recognition in the immune system. They are thought to be triggered by genes that confer susceptibility to RA and by environmental agents (Klareskog et al., 2008). Anti-cyclic citrullinated peptide (anti-CCP) has been proposed as a good alternative to RF for diagnosis of RA owing to its higher specificity and sensitivity (Sauerland et al., 2005). However, debate exists regarding its specificity in hepatitis C virus (HCV) infection (Riccio et al., 2008; Liu et al., 2008). HCV infection is usually asymptomatic and may be detected incidentally; it induces immunological extrahepatic manifestations including arthralgia and arthritis which can mirror RA, and discrimination would be difficult without observing the erosions (Palazzi et al., 2008). In addition to anti-CCP, anti-mutated citrullinated vimentin (anti-MCV) has gained importance. Vimentin is a protein filament that is expressed by in the synovium. Modification of this protein occurs in macrophages experiencing apoptosis, thus, anti-vimentin antibodies may emerge if the apoptotic material is not adequately removed (Khalifa et al., 2013). Performance of anti-MCV antibodies has been studied mainly in connective tissue diseases (Mutlu et al., 2009; Wagner et al., 2009; Luime et al., 2010), however, no enough data exists regarding its role in discriminating RA from HCV associated arthritis. Research Question What is the role of anti-MCV in differentiating arthritis of rheumatoid origin from that associated with chronic HCV infection? Â  Rationale HCV related arthritis is one of the extrahepatic immunological manifestations of HCV infection and may resemble rheumatoid arthritis (RA). Thus, differentiating patients with HCV associated arthropathy from patients with RA represents diagnostic and therapeutic challenges. Hypothesis The potential role of anti-MCV in discriminating rheumatoid arthritis from HCV associated arthropathy will be assessed in this study. Aim of the Work The aim of this study is to investigate the diagnostic value of anti-MCV in differentiating rheumatoid arthritis (RA) from HCV associated arthropathy. Objectives To measure the level of anti-MCV in rheumatoid patients and chronic HCV patients. To assess the diagnostic performance of anti-MCV in differentiating arthritis of rheumatoid disease and chronic HCV infection. Subjects, Material, and Methods Ethics statement: All procedures will be conducted in accordance with the ethical principles expressed in the Declaration of Helsinki. Written informed consents will be obtained from all patients will be enrolled in the study. Administrative Design: Approval will be obtained from Zagazig University Institutional Review Board (IRB). Subjects: Inclusion criteria: The study will be conducted on 2 groups of patients recruited from Zagazig University Hospitals: Group I will include 30 patients with rheumatoid arthritis (RA) characterized according to the American College of Rheumatology (ACR) and European League Against Rheumatism (EULAR) new classification criteria for RA (Aletaha et al., 2010), and negative for anti-HCV antibodies. Group II will include 30 patients with chronic HCV-associated arthropathy positive for HCV antibody and RNA. Exclusion Criteria: Patients with any of the following criteria will be excluded: Positive for HBs-Ag Other connective tissue diseases Chronic infection/inflammation Malignancy Organ transplant Material and Methods: The laboratory section of this part of study will be carried out in the Medical Microbiology and Immunology Department, Faculty of Medicine, Zagazig University. Clinical division: Demographic data and disease history will be taken from all patients (age, sex, disease duration). Disease activity score (DAS 28) will be calculated for RA patients as per Preevo et al. (1995). Laboratory division: Five ml blood samples will be aseptically collected from both groups. Centrifugation will be done followed by storage at -20Â °C until analysis. All samples will be investigated for anti-MCV and anti-CCP using indirect enzyme linked immunosorbent technique (ELISA). All gathered data will be then statistically analyzed using the appropriate statistical tests.

Free College Essays - When Honor is Gone in Shakespeares Othello :: GCSE Coursework Shakespeare Othello

Othello: When Honor is Gone, What is Left?   This is the question we ask ourselves while reading Shakespeare’s Othello.   Throughout the play Iago’s mission is revealed as trying to strip Othello of all honor, and reduce him to his bestial state.   Iago sees Othello as a beat from the beginning of the play and is determined to expose him to everyone. In order for the world to see what Iago already views Othello as, Iago intends to persuade Othello to violate his code of honor; the honor which is the only thing that separates the beasts from the men. Ironically, as Iago tries to coax the beat out of Othello by making him violate his code of justice, we see that Othello’s bestiality was there all along. From the beginning of the play, Iago’s view of Othello as a beast is obvious. Iago repeatedly describe Othello in terms of animals.   When Iago tries to anger Brabantio when news of his daughter marrying the Moor erupts, Iago describe his new son-in-law in vulgar, bestial terms.   Iago says â€Å"Even now, now, very now, an old black ram... is tuping your white ewe.† (I.1 lines 89-90) He also states â€Å"you’ll have your daughter cover’d with a Barbary horse; .you’ll have your nephews neigh to you; you’ll have coursers for cousins and gennets for germans.† (I.1 lines 110-114)     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Iago truly thinks Othello a beast, as he even refers to Othello in animal terms when he is by himself.   In Iago’s soliloquy at the end of Act 1, Iago says that Othello â€Å"will as tenderly be led by th’nose; as asses are.† (I.3 lines 395-396) Everyone else sees Othello a man of justice   who is spoken of by the Duke as he says, â€Å"If virtue no delighted beauty lack, Your son-in-law is far more fair than black† (I.3 lines 330-331) Iago is determined to bring out the beast in Othello, as he sees it is more just for everyone to know Othello for what he truly s, a beast. â€Å"Make the Moor thank me, love me, and reward me; for making him egregiously an ass.† (II.2 lines 302-303) Just as everyone views Iago as â€Å"honest Iago† everyone holds Othello in high regards.   We see how wrong the characters can be as they do not see the true evil inside Iago, we are implored to think that Othello truly is evil as well.

Leadership Style of John F. Kennedy

What were the leadership styles of John F. Kennedy? Kennedy was born in May 29th 1917 in Massachusetts and was a son to Joseph Patrick Kennedy and his mother was Rose Fitzgerald. He was a university graduate from Harvard where he graduated in 1940.   In 1946 being a democrat he became the president of USA. He was widely traveled and a strongly advocated for civil rights and improved social welfare. It is at this time as a president of USA that his leadership qualities were witnessed and developed. He was much admired by people because he knew how to present himself to the public. His leadership style was greatly influential and has been admired by many up to date. For now I’ll limit my scope to look at his leadership styles.His first leadership style was taking responsibility. Taking responsibility involves accepting that you are solely accountable for all of your actions. Most people when they do mistakes point a finger of accusation to others. They do not want to acknowled ge their involvement. People develop a strategy that is referred to as escapism. According to (Naegele T D. 2005) John F. Kennedy, when things in a country go wrong, people blame the president but he said that there is nothing wrong with people saying that as the head of state is paid to lead the state therefore for that reason he should be held accountable. For example when the military operation to overthrow the government of Fidel Castro in 1960s failed, he accepted that United States failed to accomplish its mission without blaming the war strategists, his advisors and the government that was before him. He said, â€Å"victory has a hundred fathers but defeat is an orphan.† He was simply referring to those who never accept their wrongs.Learning from mistakes as well as from failures was another tactic he used. This implies that you should revisit the history to know where others have erred or where yourself have gone wrong so that you can rectify your mistakes. This leade rship style was well portrayed on 16th October 1962 when the U-2 air plans captured photo acts of Khrushchev, the soviet leader placing nuclear bombs in Cuba. This was an open threat to the U.S and it was able to read between the lines to know that all was not well. (Barnes J. A. 2007). Kennedy did not want to engage his country in another war after the Second World War though there was no way he could let them to do whatever they wanted. He took the necessary measures by taking his navy to block soviet’s further plans. It was clear what Soviet Union wanted though they claimed they had no malice aforethought. They accepted to with draw their war weapons from Cuba and even accepted to dismantle the remaining ones.He was well aware of the damage that was caused by USA when it dropped a bomb at Hiroshima and Nagasaki and therefore he did not want a repeat of the same. Thus, he capitalized on this situation to sign a pact to agree that they would never test nuclear weapons on the earth. He also acted first in installing a direct line from his white house to Kremlin to avoid future misconceptions like in this case. (Reeves T., 1997)Compassion Mr. John F. Kennedy was a very compassionate person. He was very concerned with the welfare of others. He strongly advocated for increase of the foreign aid to the third world countries. He also created a department of the Peace Corps. He was determined to assist the underdeveloped countries in as much as he could. His scheme of Peace Corps was geared towards promoting peace in the Latin America, Africa and Asia. This Peace Corps amounted to ten thousands. He asked his citizens not to be expecting good things always. He also urged them to be patriotic and that is why during his inauguration in 1961 he challenged people that â€Å" Ask not what your country can do for you but rather what you can do for your country†. He was pursuing his foreign policies just to build mutual trust among nations and to inculcate a c ulture of interdependency.Always be a team leader. Kennedy being the president of United States of America was like he was leading a team. He was able to bring people together to work as a team for their well being. He said that a leader should be able to bring people together and should be able to lead his people in the right direction for example he steered America clear of the racial injustices and lead his team in exploring the world. (Schlesinger A., Jr. 1998) Basically a team leader is somebody who guides, instructs and directs his people in the right direction. Many people admire a leader who lead by example and that is why john F. Kennedy became so popular in the whole world. He weighed all the decisions before they could be implemented. He always listened carefully to the needs of the citizens. A team leader must be a decisive person and that is how john Kennedy was. For example he led a meeting to discuss on the missiles in Cuba. He wanted to hear the views of his people b efore he could act. (Schlesinger A., Jr. 1998)Kennedy was articulate and spoke his mind openly. It takes a strong person to stand in front of the people to express your thoughts. This depends on the trust you build with your people if you do not have a good relationship with citizens then you cannot have the guts to stand in front of people to give your thoughts. If you are an effective leader then people will follow your footsteps. As Kennedy once said, â€Å"courage is not complacency†. He took it upon himself to argue for civil rights act in 1960 and was able to get seventy of the votes that were cast. He also tried to convince the congress to provide free health care to all those that were above 65 years old though his proposal was rejected. He never failed to say what was in his mind as he was aware that it was the only way he could express his thoughts to the people. Many people were influenced by his words and today he is severally quoted.He was challenging Americans n ot to just sit down and wish the status quo would remain but they should strain their every nerve to improve on what they have.To influence many people then you must learn to be a great communicator. People who speak fluently command a great following. Kennedy himself was not that good in speaking especially when he talked to the congress for the first time but later he improved on his communication skills and with time he was able to drop his regional accent, talking without pausing and also talking too fast. He did all this when he became the president of United States of America. He became the best orator ever who spoke with a lot of enthusiasm. His speech passed the intended message and created the impact he wanted for example when he was talking on the Vietnam War he said, â€Å"No other challenge is more deserving our effort and energy.Our security may be lost piece by piece, country by country†. Here he was condemning the communism that was spreading in Asia. He believ ed that if the South Vietnam were to become a communist state then countries such as Laos, Cambodia, Burma and others that were non-communists would follow soon. He strongly convinced Americans using this speech that America was ready to confront problems no matter what to support their allies and oppose their enemies in order for liberty and peace in the world would be realized. (Clark.D. 2005)This speech had profound effects on many because he knew how to play on worlds a young man became touched and decided to join the United States marines. This man said that he felt challenged by that speech by asking what the youth were doing for their country. He decided to join this department to show loyalty for his country.We can conclude this essay by saying that were it not for John Kennedy’s leadership skills he would not have gained popularity as he is today. He used various strategies to lead his people as the president of USA. He was decisive, confident and accountable for all his actions. He communicated fluently something that influenced Americans very much. He was a role model who led by an example, many people started behaving and dressing like him.Reference:Schlesinger A., Jr. 1998. John F Kennedy Revisited: A noted historian and Kennedy Administration insider refutes the revisionist version of JFK's legacy. http://www.cigaraficionado.com/Cigar/CA_Archives/CA_Show_Article/0,2322,4  Ã‚  Ã‚  Ã‚  Ã‚   00,0.html Clark.D. 2005. Leadership – Character and Traits http://www.nwlink.com/~donclark/leader/leadchr.html Schoenberg P. E., 2000. Kennedy on Leadership, http://www.presidentialexpert.com/leadership_john_f_kennedy.html Barnes J A. 2007. John F. Kennedy on Leadership: The Legacy and lessons of a president. New York Reeves T., 1997. A Question of Character: A Life of John F. Kennedy. Three RiverPress.Naegele T D. 2005.Ronald Reagan and John F. Kennedy: A  Question of character.http://www.naegele.com/documents/ReaganJFK.pdf.

Causes of the War of Jenkins Ear

Causes of the War of Jenkins' Ear Background: As part of the Treaty of Utrecht which ended the War of the Spanish Succession, Britain received a thirty-year trade agreement (an asiento) from Spain which permitted British merchants to trade up to 500 tons of goods per year in the Spanish colonies as well as sell an unlimited number of slaves. This asiento also provided inroads in Spanish America for British smugglers. Though the asiento was in effect, its operation was often hindered by military conflicts between the two nations which occurred in 1718-1720, 1726, and 1727-1729. In the wake of the Anglo-Spanish War (1727-1729), Britain granted Spain the right to stop British ships to ensure that the terms of the agreement were being respected. This right was included in the Treaty of Seville which ended the conflict. Believing that the British were taking advantage of the agreement and smuggling, Spanish authorities began boarding and seizing British ships, as well as holding and torturing their crews. This led to an increase in tensions and an up swell of anti-Spanish sentiment in Britain. Though issues were mitigated somewhat in the mid-1730s when British First Minister Sir Robert Walpole supported the Spanish position during the War of the Polish Succession, they continued to exist as the root causes had not been addressed. Though wishing to avoid war, Walpole was pressured into sending additional troops to the West Indies and dispatching Vice Admiral Nicholas Haddock to Gibraltar with a fleet. In return, King Philip V suspended the asiento and confiscated British ships in Spanish ports. Wishing to avoid a military conflict, both sides met at Pardo to seek a diplomatic resolution as Spain lacked the military resources to defend its colonies while Britain did not wish interfere with profits from the slave trade. The resulting Convention of Pardo, which was signed in early 1739, called for Britain to receive  Ã‚ £95,000 in compensation for damages to its shipping while paying  Ã‚ £68,000 in back revenue to Spain from the asiento. Additionally, Spain agree to territorial limits in regard to searching British merchant vessels. When the terms of the convention were released, they proved unpopular in Britain and the public clamored for war. By October, both sides had repeatedly violated the conventions terms. Though reluctant, Walpole officially declared war on October 23, 1739. The term War of Jenkins Ear derives from Captain Robert Jenkins who had his ear cut off by the Spanish Coast Guard in 1731. Asked to appear in Parliament to recount his tale, he reputedly displ ayed his ear during his testimony. Porto Bello In one of the first actions of the war, Vice Admiral Edward Vernon descended on Porto Bello, Panama with six ships of the line. Attacking the poorly defended Spanish town, he quickly captured it and remained there for three weeks. While there, Vernons men destroyed the citys fortifications, warehouses, and port facilities. The victory led to the naming of Portobello Road in London and public debut of the song Rule, Britannia! With the beginning of 1740, both sides anticipated that France would enter the war on the side of Spain. This led to invasion scares in Britain and resulted in the bulk of their military and naval strength being retained in Europe. Florida Overseas, Governor James Oglethorpe of Georgia mounted an expedition into Spanish Florida with the goal of capturing St. Augustine. Marching south with around 3,000 men, he arrived in June and commenced constructing batteries on  Anastasia Island. On June 24, Oglethorpe began a bombardment of the city while ships from the Royal Navy blockaded the port. In the source of the siege, British forces suffered a defeat at Fort Mose. Their situation worsened when the Spanish were able to penetrate the naval blockade to reinforce and resupply St. Augustines garrison. This action forced Oglethorpe to abandon the siege and withdraw back to Georgia. Ansons Cruise Though the Royal Navy was focusing on home defense, a squadron was formed in late 1740, under Commodore George Anson to raid Spanish possessions in the Pacific. Departing on September 18, 1740, Ansons squadron encountered severe weather and was plagued by disease. Reduced to his flagship, HMS Centurion (60 guns), Anson reached Macau where he was able to refit and rest his crew. Cruising off the Philippines, he encountered the treasure galleon Nuestra Seà ±ora de Covadonga on June 20, 1743. Overhauling the Spanish vessel, Centurion captured it after a brief fight. Completing a circumnavigation of the globe, Anson returned home a hero. Cartagena Encouraged by Vernons success against Porto Bello in 1739, efforts were made in 1741 to mount a larger expedition in Caribbean. Assembling a force of over 180 ships and 30,000 men, Vernon planed to attack Cartagena. Arriving in early March 1741, Vernons efforts to take the city were plagued by a lack of supplies, personal rivalries, and rampaging disease. Endeavoring to defeat the Spanish, Vernon was forced to withdraw after sixty-seven days which saw around a third of his force lost to enemy fire and disease. News of the defeat ultimately led to Walpole leaving office and being replaced by Lord Wilmington. More interested in pursuing campaigns in the Mediterranean, Wilmington began to wind down operations in the Americas. Repulsed at Cartagena, Vernon attempted to take Santiago de Cuba and landed his ground forces at Guantnamo Bay. Advancing against their objective, the British were soon bogged down by disease and fatigue. Though the British attempted to continue the invasion, they were forced to abandon the operation when they met heavier than anticipated opposition. In the Mediterranean, Vice Admiral Haddock worked to blockade the Spanish coast and though he took several valuable prizes, was unable to bring the Spanish fleet to action. British pride at sea was also marred by the damage inflicted by Spanish privateers which attacked unescorted merchantmen around the Atlantic. Georgia In Georgia, Oglethorpe remained in command of the colonys military forces despite his earlier failure at St. Augustine. In the summer of 1742, Governor Manuel de Montiano of Florida advanced north and landed on St. Simons Island. Moving to meet this threat, Oglethorpes forces won the Battles of Bloody Marsh and Gully Hole Creek which compelled Montiano to retreat back to Florida. Absorption into the War of the Austrian Succession While Britain and Spain were engaged in the War of Jenkins Ear, the War of the Austrian Succession had broken out in Europe. Soon drawn into the larger conflict, the war between Britain and Spain was subsumed by mid-1742. While the bulk of the fighting occurred in Europe, the French fortress at Louisbourg, Nova Scotia was captured by New England colonists in 1745. The War of the Austrian Succession came to an end in 1748 with the Treaty of Aix-la-Chapelle. While the settlement dealt with the issues of the wider conflict, it did little to specifically address the causes of the 1739 war. Meeting two years later, the British and Spanish concluded the Treaty of Madrid. In this document, Spain bought back the asiento for  £100,000 while agreeing to allow Britain to trade freely in its colonies. Selected Sources Global Security: War of Jenkins EarHistory of War: War of Jenkins EarNew Georgia Encyclopedia: War of Jenkins Ear

Globalization Effects on Jamaica and Thailand Essays

Globalization Effects on Jamaica and Thailand Essays Globalization Effects on Jamaica and Thailand Paper Globalization Effects on Jamaica and Thailand Paper Globalization through dam building (for electricity) and tourism (for economic security), has imposed positive and negative effects on many countries and cultures. This paper focuses on tourisms impact on Jamaica and the consequences dams have had in Thailand. For both countries globalization has had both advantages and disadvantages. Tourisms Effect on Jamaica Globalization through tourism has had a significant effect on Jamaica. Originally, tourism was intended to profit the country by tourist spending. It was believed the economy would grow from an increase in job availability. Also, the conjecture of most Jamaicans was the hotels generated tourist spending which provided a growing economy. Unfortunately, what was intended to be the main source of income for Jamaica also became the cause of several negative circumstances. Tourism has not benefited the countries economic issues. Monies brought in are now being used to battle the increased waste disposal concerns, water shortages, and low paying jobs. Jamaicans typically work as maids and kitchen help, even as prostitutes in the tourist industry. Sewage from these facilities often empties into the ocean which along with siltation, pesticides, overfishing, and physical destruction including anchors from cruise ships destroy coral reefs and marine life. † (Harper, Jack . 2003). Most Jamaicans have become disillusioned with the promise of economic freedom from tourism. Conflict over the advantages and disadvantages of tourism in Jamaica has continued. Dams Effect on Thailand Hydroelectric projects are increasing around the world in consequence to rising energy needs. These dams have had both positive and negative impacts in Thailand economically and culturally. Hydroelectric power has provided substantial economic benefits by energy sales. One such dam built to bring hydropower to communities in Thailand was Pak Moon Dam. The dam was expected to bring other benefits to Thailand besides electricity. : For example, an increase in fish yields from stocking the reservoir, and the ncome from charging foreign neighboring countries for power. Although there were advantages for the Thailand people, for many Thai it has had more negative than positive effects. â€Å"Major Challenges in balancing the benefits of clean electricity, water storage and flood control from the dams against negative impacts. These include population displacement, obstruction to fish movements up and down the river, and changes in water and sediment flow†. (Richardson, Michael 2009). The disadvantages began to out way the advantages. Building of Pac Moon Dam and other Dams have affected Thailand in several other adverse methods. It severely decreased fish up to 60%. â€Å"According to the Foundation for Ecological Recovery, the rivers fishing industry alone is worth up to 3 billion annually, and the existing dams are already decreasing that profit. † (Blake, Haley 2009). Whole species became extinct. The river had 50 different rapids that flowed with river dependent fish. Riverbank vegetation, Bamboo, and mushrooms began to disappear. Liver fluke, Blood fluke, and Schistosomiasis increased due to stagnant water. Villagers were dependent on income generated from fish, bamboo and mushrooms. Food and income deteriorated. Many Villagers moved away. Their lives and livelihood depended on the river. The people of Pac Moon Dam had already experienced the ill ecosystem change from past dams built as expressed in a letter opposing the Xayaburi dam project. â€Å"As a river of global significance we are urging the Governments of Laos and Thailand to call a stop to the destructive Xayaburi dam: Peter Jansen of both ENDS, an international NGO and member of the coalition. (Hance, Jeremy 2011). Many Thai’s disagreed with the dams advantages and sought to challenge it. The Thailand villagers (Pak Moon villagers), determined to make changes have fought for their rights by protests. Especially protests employing traditions and customs. For example in April of 2000, â€Å"more than 3,000 people gathered their boats at the Pak Moon dam to perform Sueb Chata Maenam, and to lobby authorities to let the Moon River run free again. Sueb Chata Maenam meats â€Å"extending a river’s life†, and it is a modem of adaption of an old ceremony which pays homage to rivers, which are considered the life blood of Thai traditional society. † (World Rainforest Movement, 2000). Conclusion Globalization continues to wither away biological and cultural diversity as seen by Thailand battle with dam’s consequences and Jamaica’s tourism impacts. For these two cultures the disadvantages consequently out way the advantages.