The ‘Freedom of Navigation' issue has been volatile and often influenced by Sino-US relations in recent years. This problem was rooted in different interpretation of the UNCLOS by China and the US. It has also re...The ‘Freedom of Navigation' issue has been volatile and often influenced by Sino-US relations in recent years. This problem was rooted in different interpretation of the UNCLOS by China and the US. It has also reflected their different national Interests and maritime strategies. This issue has caused frequent frictions between the two sides and may lead to their future contest for sea power. At the same time, it also urges the both sides to set up new mechanism for confidence building that may help them to manage it in a more rational way.展开更多
Since children, as a rule, have more free time than adults, it is adults＇ responsibility to provide children with a chance to spend the time of relaxation, play, and fun in a beneficial way. Unfortunately, children＇...Since children, as a rule, have more free time than adults, it is adults＇ responsibility to provide children with a chance to spend the time of relaxation, play, and fun in a beneficial way. Unfortunately, children＇s spare time is nowadays very frequently organized for the sake of brushing up children＇s knowledge, skills, and competences, which is accomplished by means of escalating extra-curriculum activities. When expressed by teacher and parents, these ambition-related attitudes pave the way for the disappearance of children＇s personal interests and motivations to perform complicated tasks which are perceived as unwanted or obscure by the affected children themselves. This form of adults＇ behavior may lead to the feelings of frustration, stress, demotivation, or rebellion on behalf of their children. The said emotional states, especially in relation to the lack of spontaneous play, give rise to serious psychic dysfunctions, and the instability of children＇s psychic balance. It may also pave the way for various forms of destructive behavior that mostly characterize children of younger school age who are about to start schooling.展开更多
The core of the presentation that I propose treats about the application of principal component analysis for the estimation of the future earnings of the Segregated Funds. The Segregated Funds are the pools of assets ...The core of the presentation that I propose treats about the application of principal component analysis for the estimation of the future earnings of the Segregated Funds. The Segregated Funds are the pools of assets which have been using in the Italian Insurance Market since mid 80＇s for managing the ＂with profit＂ business, also known as business with ＂discretionary participation feature＂ according to IFRS4 since the income attributable to the policyholders is composed by the net realised gains less a fee and by a minimum guarantee, if any. The discretion of the Management of the Entity lays on the decision on whether and when to realise both the financial gains and the financial losses of the underlying investments. This strategy is tied by the need to manage an appropriate ALM, from the rules included in the local legislation as well as by the policy about the solvency margin （for example a minimum solvency ratio to fulfil that is conditional upon the value of income attributed that year）. The fee can not be changed, i.e., is not discretionary, the minimum granted could be fixed on annual basis-sometimes paid on cash recurrently-or could be promised only at expiration or sometimes promised at expiration or in advance only for death and disability. In case of years so adverse that the Entity is not able to avoid earnings too low, sometimes the entity delivers an additional bonus, in order to compensate their policyholders, which is based above a full discretion. Principal components are used in finance as well as in other fields such as genetic. You can see some of these applications in two of the references advised below. The purposes of the technique of principal components are （1） to increase objectivity of results and their verifiability by third parties such as auditors, （2） make speeder the time spent for the analytical calculations （i.e., runs of the actuarial models） and （3） to render the relationship between the asset composition and the their earnings effectively used for the best estimate liabilities through their contribution in forecasting future cash flows.展开更多
Since he took office, the new US president, Donald Trump, has unveiled his broad economic policy--now called Trumponomics. It emphasizes neoliberalism at home, less government regulations, more growth and weakening th...Since he took office, the new US president, Donald Trump, has unveiled his broad economic policy--now called Trumponomics. It emphasizes neoliberalism at home, less government regulations, more growth and weakening the welfare state. Intemationally, Trumponomics embraces protectionism and nativism with a focus on US economic interests. Trumponomics caters to the lower-middle classes, a reflection of the country＇s current economic and diplomatic challenges. Trumponomics will bring uncertainty to China-US economic and trade relations. China should carefully study the policies of the Trump administration and prepare contingency plans.展开更多
文摘The ‘Freedom of Navigation' issue has been volatile and often influenced by Sino-US relations in recent years. This problem was rooted in different interpretation of the UNCLOS by China and the US. It has also reflected their different national Interests and maritime strategies. This issue has caused frequent frictions between the two sides and may lead to their future contest for sea power. At the same time, it also urges the both sides to set up new mechanism for confidence building that may help them to manage it in a more rational way.
文摘Since children, as a rule, have more free time than adults, it is adults＇ responsibility to provide children with a chance to spend the time of relaxation, play, and fun in a beneficial way. Unfortunately, children＇s spare time is nowadays very frequently organized for the sake of brushing up children＇s knowledge, skills, and competences, which is accomplished by means of escalating extra-curriculum activities. When expressed by teacher and parents, these ambition-related attitudes pave the way for the disappearance of children＇s personal interests and motivations to perform complicated tasks which are perceived as unwanted or obscure by the affected children themselves. This form of adults＇ behavior may lead to the feelings of frustration, stress, demotivation, or rebellion on behalf of their children. The said emotional states, especially in relation to the lack of spontaneous play, give rise to serious psychic dysfunctions, and the instability of children＇s psychic balance. It may also pave the way for various forms of destructive behavior that mostly characterize children of younger school age who are about to start schooling.
文摘The core of the presentation that I propose treats about the application of principal component analysis for the estimation of the future earnings of the Segregated Funds. The Segregated Funds are the pools of assets which have been using in the Italian Insurance Market since mid 80＇s for managing the ＂with profit＂ business, also known as business with ＂discretionary participation feature＂ according to IFRS4 since the income attributable to the policyholders is composed by the net realised gains less a fee and by a minimum guarantee, if any. The discretion of the Management of the Entity lays on the decision on whether and when to realise both the financial gains and the financial losses of the underlying investments. This strategy is tied by the need to manage an appropriate ALM, from the rules included in the local legislation as well as by the policy about the solvency margin （for example a minimum solvency ratio to fulfil that is conditional upon the value of income attributed that year）. The fee can not be changed, i.e., is not discretionary, the minimum granted could be fixed on annual basis-sometimes paid on cash recurrently-or could be promised only at expiration or sometimes promised at expiration or in advance only for death and disability. In case of years so adverse that the Entity is not able to avoid earnings too low, sometimes the entity delivers an additional bonus, in order to compensate their policyholders, which is based above a full discretion. Principal components are used in finance as well as in other fields such as genetic. You can see some of these applications in two of the references advised below. The purposes of the technique of principal components are （1） to increase objectivity of results and their verifiability by third parties such as auditors, （2） make speeder the time spent for the analytical calculations （i.e., runs of the actuarial models） and （3） to render the relationship between the asset composition and the their earnings effectively used for the best estimate liabilities through their contribution in forecasting future cash flows.
文摘Since he took office, the new US president, Donald Trump, has unveiled his broad economic policy--now called Trumponomics. It emphasizes neoliberalism at home, less government regulations, more growth and weakening the welfare state. Intemationally, Trumponomics embraces protectionism and nativism with a focus on US economic interests. Trumponomics caters to the lower-middle classes, a reflection of the country＇s current economic and diplomatic challenges. Trumponomics will bring uncertainty to China-US economic and trade relations. China should carefully study the policies of the Trump administration and prepare contingency plans.
