The Future Gulf Currency Union Essay Example | Topics and Well Written Essays - 750 words

The Future Gulf Currency Union - Essay Example However, one has to be concerned about the factors that led to the success of monetary unions for the US and Euro-zone. The economy of the Gulf States is homogenous in nature, which relies heavily on oil. In contrast, the economy of the Euro-zone and US is heterogeneous with each state relying on diversified economic sectors. The economics of the currency unification are clearly spelt out by Mundell (1961) in his theory of optimum currency areas. According to Mundell R. A. (1961), for a successful currency union there should be factor mobility within the region of currency union, while there should be factor immobility between other regions in the world. So what are these factor mobility and factor immobility for the case of the Gulf States? These are factors of production within the region of currency union. The mobility of factors of production helps to compensate for asymmetrical economic shocks in the region of currency union. The asymmetrical economic shocks are normally adjusted for by the flexibility of the currency exchange rates. Without these adjustments or the mobility of the factors of production, unemployment and inflation would result. In line with the premise advocated by Mundell R. A., (1961), there should be little movement of factors of production outside the region of currency union. This paper will examine the case of the Gulf States in order to form an opinion on whether a monetary union is feasible based on the theory of optimum currency areas advocated by Mundell R. A. (1961). The situations leading to the formation of United States and Euro-zone currency union will be examined in order to determine how well they compare with the impending Gulf Monetary Union. The paper will further examine the economies of the six member countries, namely; Bahrain, Oman, Kuwait, Qatar, Saudi Arabia, and United Arab Emirates (UAE), and see the impacts, which the use of a common currency can have on them. The factors that can

Three Elements of Sustainable Design Research Paper

Three Elements of Sustainable Design - Research Paper Example In the similar manner, the utilization of recycling and reusing different things can also make the clear reduction in the green house emissions (Connectingthecoast.uwex.edu, n.pag.). On the other hand, the cutting down of forests is also producing endangering the environmental stability of the earth, as forests play an important role in maintaining the oxygen level in the atmosphere and maintaining the biodiversity of the planet. Besides that, forests also help is sustaining the water on the planet. In this paper I will examine the sustainable ideas employed by the ‘Green Print Solutions’ that is working as a paper printing company. The company ‘Green Print Solutions’ is a printing company that prints various kinds of banners and printed advertisements. The size of the prints may vary according to the order. Company is capable of proving all available sizes utilizing green and renewable resources thus impacting the environment as less as possible. The compan y is such designed to use the natural resources that can be grown or made available from the environmental sources. The word ‘design’ is to interpret the process from where the process starts to the end product. For any industry to be considered as the green industry, it must pass the criteria to green design. In green design, the industry mast have to utilize as less energy as possible, it must have the capability to utilize the natural resources and it must have no or less environmental impacts. The utilization of energy can be limited by utilizing the natural solar light for the lightening purposes, other methods may include the utilization of alternative resources like solar, wind, geothermal, biomass, etc for the generation of energy; however, the architecture also matters a lot. The utilization of natural resources, which can be locally available, can reduce the transportation costs and emissions. However, the environmental impacts can be minimized by making a cle ar reduction in the waste, reusing or recycling the wastes and utilizing the materials that are biodegradable. The whole process maintains the health of the environment and thus the health of the humans. The company has no or fewer environmental impacts and all the strategies the company is utilizing are environmentally friendly. The major aim of the company is to run the printing business by utilizing the green resources like the wood required for the printing of the paper come from the sustainably managed forests. Wastes from the industry are managed in such a way that the wastes no longer remain dangerous for the environment. Wastes are recycled for increasing the efficiency of the company not only in the economic sense but also considering the environmental aspects. The end products and nearly all types of the wastes omitted by the industry are biodegradable. The utilization of such the strategies not only reduces the green house emissions and environmental impacts but also give rise to the profits the company generates by selling the prints to various dealers and customers. The three important elements of the sustainable design are the environment, economy and society. Any company that has a sustainable design must maintain the three elements of the sustainable design. Any design that has the environmental sustainability but lacks the environmental sustainability would be not feasible (Exinfm.com, n.pag.). In the similar way, sustainable design