Essay One Example | Topics and Well Written Essays - 250 words

One - Essay Example One can connect the relationship between faith and reason to a couple’s relationship. There would be sides of stories but for a relationship to work, one party should make an effort to recompense if both parties would want the relationship to succeed. This is very relatable to faith and reason, throughout the centuries; the worlds of religion and science have collided without any signs of slowing down. Yet both John Locke and St. Thomas Aquinas believe that faith is a kind of reason. Reading through the works of both Lock and St. Aquinas, both have seemed to suggest that faith can be considered as reason. Even for some from the religious sect, they are using faith in giving reasons as far as miracles or unexplainable occurrences (Tavani, 2-4; Nash, 58). Religion often uses the faith of their most loyal devotees in reasoning about the existence of things which are intangible and cannot be justified by any scientific methods. With such statement being said there is an aspect of religion that is also a part of a feature of science. One point that can be considered by the belief of both Locke and Aquinas is that it can also be reversible. Reason can also be a species of faith. It is not just a one-way relationship. Just what has been stated earlier, faith and reason can be compared to a relationship where one party can complement the other. One party may not always be correct but the other would complement its shortcomings to make the relationship work. Reason may not always have concrete values and scientific explanations yet people who have heard the reason could believe in it and therefore result in having faith in the reason whether or not it has intangible supporting facts which may or may not be resolved any further (Tavani, 3-5) . Locke believes that the scriptures have no role in divine right but rather deep thoughts on the absence of

Regulatory and Economic environment Essay Example | Topics and Well Written Essays - 1500 words

Regulatory and Economic environment - Essay Example Based on the current exchange rate of RMB 8.28 yuan to one U.S. dollar, China is now the sixth largest economy in the world. Based on purchasing-power parity, it is the third largest economy after the United States and Japan. All this has taken place during a relatively short time. In fact, one can argue that true economic reform in China only started in the early 1980s.' - [M.W. LUKE CHAN, WENDY ROTENBERG] The Chinese economic environment had shown rapid progress during 1991-1997, it could be said that China experienced double digit GDP growth. However, from 1997 and so on there were economic crisis, yet, the Chinese GDP continued to grow at a rapid rate of 7.8%. Transparency and good supremacy have been the foundation issues observed in the post-crisis years, both in the circumstance of the 1997 monetary difficulties and the recent series of commercial scandals. This suits the accounting and audit profession where efforts have largely focused on "harmonizing standards" within APEC and ASEAN as well as for greater transparency and disclosure. The Chinese financial catastrophe showed that insufficient accounting practices and lack of transparency in financial information still prevail in the region. Usual accounting may no longer adequately reflect the necessary information from the position of regulatory and internal corporate control. Strengthening of accounting and auditing function to properly manage risks is one major task to make the private sector and government agencies competitive and free from corruption. In an internationalized economy, up-to-date accounting and auditing knowledge and skills are the basic institutional infrastructure for private enterprises as well as government agencies to promote good corporate governance and sound public management. The need for transparent information has been heightened, particularly in the situation of managing risks involved. Main challenges for the DMCs are to develop transparent and sound accounting practices to properly manage and regulate the private sector including banks. An overview of the economic framework in China: The economic system of China is based on the Interbank Lending Market, the negotiable instruments market and the Treasury bond repurchase market. Interbank Lending: A nationwide unified interbank lending computer network was put into operation on a trial basis on January 3, 1996. The interbank lending market was not integrated preceding this date. The establishment of unified interbank market helped in connecting all interbank markets through out the nation. Negotiable Instruments: A negotiable instruments market consists of commercial papers as their main instrument. Commercial paper activity started in China in 1981. Since 1981, commercial paper market developed gradually. The acceptance, rediscount and discount process of commercial paper has become standardized. Commercial bills are also another instrument used in China. It has increased drastically in the past few years. Also, the discount and rediscount maturities have increased rapidly providing the funding needs of the national industry development policies and credit policies to flow. Repurchase Transactions - Open Market Operations: The central bank got involved into the