Intercultural encounters Assignment Example | Topics and Well Written Essays - 500 words

Intercultural encounters - Assignment Example differently to such encounters of cultural difference for instance some people may accept such cultural difference, others may reject while other may make the adaption (Gert et al., 2002). Communication and lingo is one of the mainly common intercultural encounters that a person is likely to face in the world today. Smiling for example is a non-verbal gesture of communication use in the world. However, a smile is often misinterpreted because it has different meanings in different cultures. In the Angolan culture, for instance a smile is used as a friendly gesture of welcoming another person. A smile in Asian cultures may often be used to signify discomfort, confusion, or even embarrassment. In some cultures, a smile is only for family and friends for instance in Germany. A smile in the Middle East has a significant difference from other parts of the world especially a smile from a woman to a man. Such a smile may mean sexual attraction (Deardorff, 2009). Different cultures have different interpretation of a particular aspect of life. Smiling for instance is a communication gesture that may be applicable across the world. Nonetheless, different cultures apply and interpret a smile differently. It is therefore important for a person to understand cultural interpretation and meaning of different aspects otherwise a risk of misinterpretation is very likely. It is obvious that different cultures conflict in a number of ways for instance a smile from a woman to a man in the Garman culture may signify friendship while in the Middle East it signifies a completely different thing and that is sexual attraction (Gert et al.,2002). The conflict and culture is indeed applicable in the day-to-day encounters of an individual particularly with the aspect of globalization and the world becoming a global village. One of my life experience regarding conflict and cultural differences was in Japan. Japanese interpret a smile as a sign of discomfort or confusion while people from

Research Paper on Inflation for the Country China

On Inflation for the Country China - Research Paper Example Causes of Higher Inflation in China Evidently, the higher inflation in China can be attributed to numerous factors. According to Yu (2011), the Chinese government’s increased currency control ended up in an artificial decline of foreign exchange rate of the Yuan and this adverse situation in turn amplified manufacturing and export business activities. Macroeconomic theories clearly state that decline in the real value of currency is the most severe impact of higher inflation. At the same time, the cheaper Chinese currency made imported food items and energy resources unaffordable to the country’s people. Economists strongly argue that the county’s unprecedented development rate have added to a severe demand pull inflation. In china, unbridled growth of consumerism together with rampant rise in population continues increase in consumer demand. Probably, the increasing consumer demand in turn would significantly augment business activities and ultimately the cost o f production. As a result, firms are compelled to charge higher prices for their products that would be unaffordable to lower and medium class customers. Many of the economists and corporate business magnets are of the belief that the value of the Chinese Yuan would improve in near future. This expectation has resulted in huge inflows of hot money and other long term investments to the Chinese economy. This large volume money inflows to the country cause asset bubbles in Chinese property market, especially in the industrially developed cities like Shanghai and Beijing. Consequences of Higher Chinese inflation According to Feldstein (1998), it has been identified that the inflation always hurts people’s standard of living since rising prices force them to pay more for the same goods and services. As Flynn (2011) reports, the inflation has a direct influence on gas prices in China as a result of governmental regulations that vehemently try to combat inflation. This situation ma kes the financial planning a troublesome task because the increased gas prices lead to home value loses. Inflation also badly affected the people’s retirement planning due to the increasing uncertainty regarding the future. Since the Chinese people are compelled to spend more and more on same goods and services, they would not have excess amount available to save. Similarly, if people expect further inflation, they are more likely to be extravagant as they envisage worse condition in near future. This economic condition turns to be one of the potential challenges to the Chinese economy as it may lead to further inflation. During the last three years, the difference between demand and supply and the resulted inflation went beyond Chinese government’s control; and consequently buyers trimmed down their day to day expenses in order to vie with the increasing price level. At the same time, producers cut down their output levels so as to retain minimum profit margin. In tot al, both these situations seriously affected the economy as they minimized long term economic gains. How to Manage Inflation in Chinese Economy? According to Premier Wen Jibabo, â€Å"China must continue efforts to control food and housing prices to ease soaring inflation and maintain economic development and social stability† (cited in SPK Group Co., Ltd., 2011). Wen also advises authorities to increase the outputs of farm