Wednesday 17 November 2010
Friday 12 November 2010
Summery Child labour
Child labour is defined as work that has performed by children under the age of 18 which employed in unsuitable or hazardous occupation. This can harm or restrict a child’s physical, intellectual, emotional and spiritual growth.[i]
Child labour legislation and laws
· Convention on the Rights of the Child
In accordance with The United Nations, there has adopted and proclaimed the Universal Declaration of Human Rights (UNDHR) 1948 which has posited that “all human beings are born free and equal in dignity and rights.”[ii]
· ILO Convention on Child Labour
International Labour Organisation has encouraged the two key instruments of international law. Firstly, ILO Convention No. 138 on the Minimum Age for Admission to Employment and Work. Secondly, ILO Convention 182 for the Elimination of the Worst Forms of Child Labour which “helped to focus the international spotlight on the urgency of action to eliminate as a priority, Worst forms of child labour without losing the long term goal of the effective elimination of all child labour.”[iii]
Causes of Child Labour
The main cause which persuades children to the worst is poverty.[iv] Due to the fact that many poor families send their children to work for reasons of economic expediency in order to ensure income security and survival. Consequently, this contributes to block their children’s education.
Furthermore, another factor may provoke this cycle is that inadequate school facilities. It appears that schools in underdeveloped countries are often unreachable as well as inadequate teaching and classroom resources. Many poor nations do not have free compulsory education for all children, which is an obstacle to impelling working children to school.
Although, many countries have national child labour laws that define a minimum age for work and legislate working conditions, but these laws tend to be only effective in dealing child labour abuses in the formal sector in urban areas. Moreover, increasing quality and improvement to education is also a key factor to reduce child labour. It suggests that “If an education system is to attract and retain children, its quality and relevance must be improved as well. Children who attend school are less likely to be involved in hazardous or exploitative work.”
[i] The International Labor Organisation(ILO), ‘Child Labour’ <http://www.ilo.org/global/Themes/Child_Labour/lang--en/index.htm> accessed 30 October 2010
[ii] The United Nations, ‘The Universal Declaration of Human Rights’ <http://www.un.org/en/documents/udhr/index.shtml> accessed 2 November 2010
[iii] The International Labor Organisation(ILO) (n 1)
[iv] One world, ‘Child Labour guide’ <http://uk.oneworld.net/guides/childlabour#Laws> accessed 31 October 2010
Summery FOB
The definition of FOB
FOB stands for “Free on Board” FOB means the seller delivers when the goods pass the ship’s rail at the named port of shipment. This means that the buyer has to responsible for all costs and risks of loss or damage to the goods. The FOB term requires the seller to clear the goods for export.[i] Under FOB, the seller provides to the transportation by loading the goods on a vessel selected by the buyer at the agreed port.
FOB - obligations of the buyer
As the buyer, the costs and risks associated with the goods only become the buyer’s responsibility when the goods pass across a ship's rail.
FOB - obligations of the seller
As the seller’s duty delivering the goods to a carrier on a date within agreed period at the named port of shipment6[ii] nominated by the buyer.
The advantages of FOB
- For the buyer
- The buyer can control the shipping costs and determine the routing and mode of transport at a known price and the port of shipment.
- FOB shipping term supports the buyer for foreign country restriction.
- FOB price is not all-inclusive, the buyers are able to limit or reduce their liabilities.
- Nominate the suitable vessel.[iii]
The disadvantages of FOB
- For the buyer
- The liability for damage or loss of the goods lies within the buyer after the goods are on board the vessel means that the buyers have full responsibilities and obligations of the goods afterward.
- For the seller
1. The seller disengages to control over the goods once the goods are loaded on board which may be an issue if problems occur once the goods are out of the country.
Obviously, there are some advantages and therefore the implications need to be considered before the agreement is made. Nevertheless, without a clear understanding of the rights and responsibilities in each term of contract or selecting an inappropriate form of contract could lead to the problems consequently.
Referances
[i]Preambles to Incoterm 2000 ‘FOB preamble’(PDF) International Chamber of Commerce Preambles, http://www.iccwbo.org/incoterms/preambles/pdf/FOB.pdf accessed 3 November 2010
[ii]Incoterm 2000:ICC official rules for international trade term <www.searates.com/referance/incoterms/fob> accessed 2 November 2010
[iii] Elis Terelle,’CIF or FOB this is a question? Main features for the two contract for the international sale of goods’< http://papers.ssrn.com/sol3/ciforfobthisisthequestion.pdf > accessed 3 November 2010
[1]Preambles to Incoterm 2000 ‘FOB preamble’(PDF) International Chamber of Commerce Preambles, http://www.iccwbo.org/incoterms/preambles/pdf/FOB.pdf accessed 3 November 2010
[1]Incoterm 2000:ICC official rules for international trade term <www.searates.com/referance/incoterms/fob> accessed 2 November 2010
[1] Elis Terelle,’CIF or FOB this is a question? Main features for the two contract for the international sale of goods’< http://papers.ssrn.com/sol3/ciforfobthisisthequestion.pdf > accessed 3 November 2010
Wednesday 3 November 2010
Child Labor
One of a main issue for child labor in many developing countries is cause by poverty. ILO (International Labor Organization) statistic shows that one out of six children
age between 5-17 year-old have to work instead of study and it is believed that the statistic particularly in Asia and Africa are higher. Actually, child labor is not a new issue, in some of developed countries many years ago, a large number of children were forced to work in such as a farm or a factory therefore there had been encouraged that child labor was illegal and unaccepted. However, later on, in those wealthy counties, child labor was disappeared because of better economy. In this issue, they have been argued that child labor is a cause or a result of poverty as is mentioned earlier.
In the part 4-5 years, some of economists including ILO had a doubt and expressed their opinions that a reason why some poor countries were still poor was because child labor was permitted and acceptable means that child labor was not a reason but were a result. They explained that poverty occurred for example child labor means that children who are under 12 do not go to school and they will have less chance to get a good job therefore if child labor is legal it means that it bar an investment in human capital. In addition, hiring child labor can low an average adult labor’s minimum wage because employing child labor is much cheaper. Those reasons may be reliable but it is none of statistic evidence to support.
However, no matter child labor is a cause or result of poverty many of children still work hard and produce cheap product to people around the world but for themselves they have not get appropriate education and an opportunity to have joyfully life as other children in their age.
Monday 1 November 2010
What is Basel III?
After financial crisis in 2007 had consequence impact on economic recession around the world including EU, therefore commercial banks strict to such as granting credit in domestic including business, household and event their disbelieve in those commercial banks.
In this regard, 27 members decided to improve Basel III which raise quality sum of capital and buffer capital. Under the Basel III many of commercial banks increase the capital stock more than one hundred billion in ten years. As a result of this, it can be said that dividends for an investor may decrease.
Nevertheless, new regulations under Basel III somehow strengthen a sustainable system of banking and ability to encounter unexpected crisis without rely on only in government budget which eventually is tax from the people.
Sufficiency Economy
Among competition in business world, money has become basic necessity and the most important factors in life. However, in past years many countries including powerful countries around the world have suffered from economic recession or great depression. As in my country Thailand we had suffered from bubble economic in 1997 in this situation sufficiency economy which is a philosophy bestowed by His Majesty the King has been advised to his people more than 20 years before economic crisis occurred. The philosophy suggests guidance on appropriate conduct in life and point the way to recovery that will contribute to sustainable economy and be able to meet other changes in globalization.
The development according to a philosophy, the principle is based on moderate practice by considering limitation, reasonableness and morality including application of knowledge. It is important to strengthen the moral of the nation so that everyone such as businessman, public sections or academics insists on the principles.
Sufficiency philosophy was received an admiration from UN in 2006 and the UN attempted to encourage its member adhere to the principle of integrity. Sufficiency economy is a conceptual framework that leads to theory or major principles. The philosophy can be said that it can recover and protect the economy from crisis or unexpected global changes. May be we should consider a new theory of development which leads to sustainable and interdependent economy more the world that full of competition that which country will be the most powerful and wealthiest.
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