Banking Industry Analysis: Zimbabwe And India

Banking Industry Analysis: Zimbabwe And India Banking industry is the major player in every countrys economy, and it influences the growth and prosperity of a nation. The following environmental analysis seeks to look at the banking Industry in Zimbabwe and India especially with regard to the PESTLE (Political, Economic, Social, Technological, Legal, Environmental) factors and how they have a bearing on the industry. It will further look at Porters five forces namely: New entrants, Threat of Substitutes, Power of Suppliers, Power of buyers and Competitive rivalry. In doing so, a brief history is important as it gives a mile view of the origins and development of the industry. . Based on these factors a comparative analysis is done between the two countries 1: Zimbabwe Banking Industry Analysis. Background When Zimbabwe attained its independence in 1980, the majority of banks were foreign owned. It was not until 1981 when the government acquired stakes in two banks namely Nedbank and Bank of Credit and Commerce of 62% and 49% respectively. Apart from stakes in these two individual banks, the government wholly owned and directed the operations of the central bank, the Reserve Bank of Zimbabwe (RBZ). The Reserve Bank is the policing authority for the industry formulating policy direction through periodic monetary policy statements. Indigenous ownership and new entrants into the industry was not until mid to late 90s when a number of banks were registered (Makoni, 2010). Until mid to late 90s, Zimbabwe was regarded as a model developing African country with a small but strong banking industry. Agriculture was the backbone of economic growth with mining, manufacturing and tourism complementing it. The industry therefore benefited from a strong economy until things changed in the late 90s as a result of negative economic and political policies adopted by the government. Political Factors Since independence from Britain in 1980, Zimbabwe has been under the leadership of President Robert Mugabe through his political party ZANU PF. The country was virtually under a one party state system with no credible opposition until 1999 when a new political party entered the political field. The political environment was however stable with the international community having confidence in the way the country was governed. As a result Zimbabwe was experiencing strong economic growth due to the international support and such growth was reflected positively upon the banking sector, as it was working effectively. International lines of credit from international financiers such as the World Bank and IMF were made available benefiting the banking industry immensely. There was however a sudden change of fortune in the industry when Zimbabwe embarked upon a controversial land reform program around year 2000. The process was chaotic and often violent with the international community condem ning it. That resulted in Zimbabwes isolation from the international community. Some countries such as the U.S.A and the E.U introduced sanctions against President Mugabes government as a way of protesting against his policies (U.S Department of Treasury, 2010). Zimbabwes banking industry reeled under sanctions. Some banks especially foreign owned such as Barclays Bank had to downscale their operations as the conditions were no longer conducive to support a complete banking portfolio (The Independent, 2010). The country is still under sanctions, arguably targeted to President Mugabes inner circle members. Because of that, banks do not have access to foreign sources of capital and cannot enter into strategic alliances with most western banks who fear the political situation in Zimbabwe. A new government of national unity was recently formed to dilute President Mugabe era. The change has not had a significant positive impact on the industry as it is still new with vague views about ec onomic development. Moreover the government recently launched a short term recovery program in 2009, in order to stabilize the economy with a focus on multi currency due to the inflated exchange rate of the US dollar against the local currency. That left the industry without a long term view of economic direction (The World Bank, 2010). Economic Factors Zimbabwes economy is characterised by negative economic growth, high unemployment, high interest rates and absence of foreign investment. The economic situation started to deteriorate in the early 90s when Zimbabwe embarked on an Economic Structural Adjustment Program, ESAP supported by IMF and the World Bank. Although the intended benefits were to grow the economy and create jobs, the opposite actually happened (The World Bank, 2010). The economy started to shrink. It was further exacerbated by the sanctions imposed after a chaotic land reform program earlier mentioned together with mismanagement by the government. Banks were not and still do not have access to cheap sources of capital as a result. The population is poor and characterised by high unemployment levels. According to an AFP report (2009), such negative economic factors have been haunting the banking industry particularly in the last 10 years. Poor people are likely not to save, a situation that is negative for the banking industry. On the other hand, the rise in inflation coupled with the devaluation of the Zimbabwe dollar meant banks could not cope with depositors need for daily cash withdrawals. Around 2003 and 2004, some banks collapsed while others were put under curatorship (Africa Monitor: Southern Africa, 2008). Those which survived had to limit their exposure to risks (Marawanyika, 2010). Although the situation has improved as a result of a power sharing government, banks still do not enjoy the benefits of a wide product portfolio as some products are still non-implementable. Good examples are lack of long term mortgages and credit cards. Banks remain uncertain as to the economic future and therefore are concentrating on products which are short term. Another factor which badly affected the banking system was the Reserve Bank of Zimbabwe forcing private banks to acquire quantity of its related papers, and also to lend it free the compulsory statutory reserve of 40%, which is considered the highest in the world. Moreover, the Reserve Bank of Zimbabwe also forced financial institutions to use the excess surplus cash to invest in securities. Such influence significantly affected the performance of the banking sector (Africa Monitor: Southern Africa, 2008) Social Factors Zimbabwe has a population of around 13 million. There has been a steady outflow of people to other countries as a result of economic difficulties. Estimates put the number of Zimbabweans living outside the country to 4.5 million (Sunday Mail, 2010). That is a very significant percentage of the population. The end result is a population that is too small to sustain a vibrant banking industry. People who migrated to other countries are the middle age group, the very core of middle class society. In addition, emigration has starved the industry of essential expertise needed to run the banking industry efficiently as the educated and qualified left for greener pastures. Before the recession, Zimbabwes banking industry was already under stress and some of it is attributed to lack of proper management and lack of innovativeness. To compound the emigration problem, the country has been beset by HIV/AIDS epidemic which seem to affect the productive ages. It is estimated that 14.3 % of the po pulation was infected with the virus as of 2007, (UN report, 2009). Although the problem is not uniquely a banking industry problem, it has affected the way the industry operates by taking away both potential customers and the expertise needed to run the industry. Technological Factors Although Zimbabwe is a third world country, it is generally doing well in terms of technology. The country has seen an early introduction of ATMs in almost all cities and tourist destinations. ATM technology was first adopted around 1990 when two of the industry players Standard Chartered Bank and CABS introduced ATMs. Since then, telephone banking and online banking have been introduced as well. The industry is also linked to international big brands such as Visa and Mastercard. Travellers to Zimbabwe will have access to their cash on all ATMs so long they have Visa cards (Barclays Bank Zimbabwe, 2010). ATMs have greatly enhanced the capacity of the industry to reach a wider population and cover geographic areas which would have been costly Although most banks have adopted internet banking, the usage numbers are still very low (Thulani et al. 2009) Legal Factors Although the Zimbabwean government had little interference in the banking industry prior to 2003, the situation has since changed significantly. Government enacted various legislations meant to police the operations of the industry. This was necessitated by the collapse of some banks resulting in loss of depositors funds. As a way of protecting the public from such incidences, the government raised the minimum capital requirements needed to open and operate banks, both commercial and discount houses. The minimum is currently set at $12.5 million. This new capital requirement has not been easy due to the industrys inability to access cheap sources of capital. Further affecting the industrys ability to raise more capital and funds is the new government legislation requiring all companies to have a minimum local majority shareholding of 51%. Foreign investors with an interest in the industry can only take up the remaining 49%. (Zimbabwe Mail, 2010) This has not gone down well with foreign investors who feel the legislation strips them of their ability to manage and have an influence on their investments. As a way of trying to fight the AIDS epidemic, the government introduced a levy on banking profits towards an AIDS fund administered by the National Social Security Authority, NSSA. The rate is 3% across all income levels with banks however levied at a much higher rate of 5 % compared to other industries and individuals. This has the effect of reducing the amount available to shareholders. Environmental Factors. Zimbabwe does not have legislation compelling companies and businesses to direct their resources towards the environment and corporate social responsibility activities outside of the Aids levy earlier mentioned. It is truly lagging behind in this area. The banking industry, like any other industry has instead concentrated on its own survival with little regard to environmental issues. Industry Analysis by Porters forces. Porter explains and argues that there are five forces which determine the industrys profitability and attractiveness. These are threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers and the degree of rivalry between existing competitors. Some of the forces mentioned above have limited applicability to banking because of the nature of the industry. An example is the substitute factor. The banking industry in general has limited room for substitutes. Looking at the banking history in Zimbabwe, there was a time soon after independence when suppliers had the power in the market because competition was very low. There were few players in the industry and customers were even lucky to be accepted to open a bank account. As the government liberalised the industry, more indigenous players came in making competition very stiff. Currently, there is little differentiation which banks can apply to have an urge over others. Rivalry is very high and the areas of differentiation come from good customer service and degree of risk expected. The collapse of some banks around 2003 and 2004 has left the market and customers jittery about which banks to be entrusted with their deposits. Banks with adequate capital such as Standard Bank and Barclays Bank have a competitive advantage over others due to their history of stability. They can use their foreign component of their shareholding structure to mobilise resources. 2.0 India Banking Industry Analysis 2.1 Introduction: The Banking Sector in India is regulated by the Reserve Bank of India (RBI) and the Ministry of Finance (MoF). The banking sector comprises of Nationalised, Private and Public Sector, Cooperative and Foreign banks. A brief history tells us that the nationalisation of 14 largest commercial banks in 1969, and further nationalisation of 6 major private banks in 1980 has completely reformed the banking sector in India (Das and Ghosh, 2006). According to 2010 survey more than 80% of banks in India are nationalised, 15% are private and cooperative sector banks and the remaining 5% are foreign banks, serving a population of more than 1.1 billion. Political factors: The ruling government and the Ministry of Finance play a decisive role in contributing to the rules and regulations of the industry. A huge turning point came in 1991, when the Finance minister Dr. Manmohan Singh under the Narsimha Committee opened the doors for the Foreign Direct Investments (FDI) in the country thus boosting the economy and uplifting the banking industry (Das and Ghosh, 2006). This served as a platform for the future decision making of the rules and regulations and law enforcement for RBI and other financial regulatory bodies. The relaxation of some regulations allowed the major foreign banking corporations to enter the developing Indian economy through mergers or independent setup. Economic factors Nationalisation of the banking sector helped farmers and small industries in India to directly access credit facilities, efficient short and long term loan sanctions and has helped reduce the unemployment rate and further increase the profitability of the money lenders. Interest rates for certain loans are lower than the market rates. For example food and agriculture related business and services. This has led to many nationalised banks giving more importance to social priorities than profit maximisation. Reduction in Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR) has helped the banking sector to increase efficiency. Liberalisation has encouraged competition in the interest rate and services provided by many banks and financial regulatory bodies (J. Sengupta; C. Neogi) Social factors In spite of the recent downturn in the global economy India was able to attain a growth rate of 8.8 % in the first quarter 2010 (RBI Bulletin, 2010). That means the industry and the agriculture sectors that form the majority of the working population are supplying huge amount of their disposable incomes to banking and investment corporations to further increase their profits. This change is much obvious in the Cooperative banks and domestic banks regulated by RBI where deposits, repayment of loans, sanction of new loans improved significantly, enhancing industry profitability. Since 1991, due to the outburst of multiple opportunities in national and international industrial and service sectors, the urban and the semi-urban cities have witnessed an increase in educated, high earning individuals who are well associated with their income and investments. Since 2001 the changes in banking norms, stable and long term understanding between the commercial and cooperative banks have helped t he banking sector achieve 51% of compounded annual rate based on growth, asset quality and profitability (McKinsey and Company, 2010). Technological factors Technology is always seen as a building block for any industry or economy. With the arrival of the foreign banks and financial corporations, the public, private and cooperative sectors have witnessed a revolutionary support and competition in its technology. As a result of this many banks such as Housing and Finance Corporation (HDFC), ICICI, State Bank of India, Central bank, Union Bank, JK bank, and all major cooperative banks have revolutionized their various banking products and services. Services like internet and telephone banking, online investment and loan proposals, personalized and premium banking services are available 24 hours a day. Large numbers of ATM outlets have all helped increase the profitability and efficiency of their service providers. As a result the year 2001-02 saw 20.83% private sector banks achieving efficiency of more than 100%, and year 2003-04 saw 26.92% private sector banks having productivity of more than 100% (Bodla and Verma Bajaj, 2010). The growth in industrial and outsourcing sectors have boosted foreign exchanges and remittances. This has produced a fluent and rich source of income for the banking industry. Legal factors Banking Regulations Act in 1949 and the Reserve Bank of India Act in 1934 are the major regulations in Indian banking industry. All Indian banks trade and work in accordance to the guidelines of RBI. Due to liberalisation and influence of World Trade Organisation, Indian banking industry adapted to the global banking standards. Indian banks and finance corporations follow the regulations of the Basel Committee, International Monitory Fund (IMF) and International Bank for Reconstruction and Development (IBRD). (2008) 2.7 Environmental factors The finance and banking sector is one of the most advanced and rapidly growing sectors in Indian economy. The concentration in banking industry is due to certain core principles, standardization, regulating and supervising of the sector. This has created a frantic race to stay at the top. To overcome their competitors almost all banks and finance corporations have adopted social responsibility measures or environmental concerns (Zuberbà ¼hler, 2000). Banks like SBI, HDFC, ICICI etc have undertaken various public and corporate issues seriously and have allocated a sizeable amount of their income on public and environment issues. Recently, the Ministry of Finance and Corporate Affairs in India have set out core elements of CSR for companies and corporations to address. The president speaking at India Corporate Week has urged finance and industrial corporations to assist the government in various programmes designed for rural economic development (SRI, 2010). Analysis by Porters Five Forces 2.8 Bargaining power of buyers: Bargaining power of buyers is high in Indian banking system because of many reasons. There are lots of alternatives for each customer. Due to the technological advances, buyers know about the market status and position of each bank. Switching cost to shift the bank is very low, so the customer changes the bank frequently. Almost all banks give the same service and products, so they cannot charge for extra service and differentiation. Banks try to be customer friendly to attract as many clients as possible. 2.9 Bargaining power of suppliers: Bargaining power of suppliers is less in India due to the strict rules and regulation of Reserve Bank of India (RBI). Interest rate and degree of differentiation are determined by the RBI, so supplier power is very low. But at the time of tight liquidity the negotiation capacity of suppliers increase. 2.10 New entrants: New entrants with added services and benefits always pose a threat to the well established older and somewhat government owned banks. In India since majority of the banks are nationalized or state owned as seen above, a new foreign bank, always has to come up with some better ideas to attract a specific group of population which is ready to deviate or change its banking environment. In addition, few of them have tried to blend with the Indian market either by partnering or merging with some Indian nationalized banks, or by exchanging services like use of ATM networks. As a result, foreign and new private banks have realised growth rates of up to 50% while the public sector banks have grown at steady 15% (India Banking, 2010). After the post liberalisation period the banking sector has increased average deposit efficiency especially for State Bank of India and Associates. As for nationalised banks its almost stable and for foreign banks it has declined sharply. The reason for the fall in the foreign banks is due to their attention to cater to only some of the multinational corporations which lured them for starting their services in India (Services Research, 2009). 2.11 Threat of substitutes: Substitutes do not pose a greater threat to the banks. However the fact that they still have influence in some of the major rural areas in the form of non-governmental and unregulated co-operative societies always leaves banks watching their backs. (Das and Ghosh, 2006). 2.12 Competitive rivalry: The concentration of nationalised banks and their efforts to be the policy maker have given rise to three major concerns: Competition, Systemic Stability and difficulty in regulating them (Zuberbà ¼hler, 2000). It is believed that competition always fuels growth. The commitment shown by banks in terms of employee training programs and technological upgrades have resulted in improved skills and services (Arora and Khanna, 2009). For effective regulation many banks have applied customer centric approach rather than profit oriented approach. This has significantly improved the internal service quality of the banking sector. 3.0 Comparison and conclusion: Banking industry in India is more diverse as it includes many nationalised public sector banks, foreign banks, private sector banks, co-operative banks and many approved small and medium money lending institutions well serving a population of 1.1 billion. In Zimbabwe the banking industry comprises of government banks, private banks and a few foreign banks serving a comparatively small population of 13 million. The banking industry market is therefore huge in India when considering the population and all related demographics. Considering the fact that agriculture is the backbone in both countries, most of the government policies and initiatives are in favour of agriculture and its related sectors. A best example is Indian governments approval of $12.5 billion Farmers debt relief fund in 2008, which allows banks and other approved money lending institutions to waive a farmers loan after signing an agreement of debt relief. (banknetindia. nd). Indian government is politically more stable than the Zimbabwean government. This has created certainty in the Indian industry compared to its Zimbabwean counterpart. In India all the financial regulatory bodies have formed a supportive environment for the banking and economic industry, and have setup stringent rules and regulations in accordance with the international banking guidelines. Foreign exchange and remittance is an important factor which acts as a bridge between a countrys banking sector and its ability to attract investments from other countries, which provides rich nourishment for the banks. Foreign remittances from industrial activities are practically not present in Zimbabwe whereas in India outsourcing and flourishing economy is maintaining a steady supply of foreign exchange. Though banks in Zimbabwe are earning huge individual foreign remittances from the migrant population, the entire banking sector cannot completely sustain itself on that. Global economic instability and recent financial downturns were more felt in Zimbabwe, as compared to India which is relatively more insulated to the effects. Since 2007 Zimbabwe was facing huge hyper-inflationary problems until recently when the country achieved some measure of stability through dollarization of its economy. The inflation at some point reached monstrous levels affecting the Zimbabwean dollar exchange rate and banks found it extremely difficult to maintain a supply of the dollar. That led to government introducing foreign multi-currency since 2009, especially the US dollar, (Hanke, 2010). Inflation in India has been steady compared to its growth rate and is handled carefully by the Reserve Bank and the finance ministry. This has helped maintain currency supply and is conducive for the banking environment. Technology is one of the major drivers for banking industry not just in India and Zimbabwe but across globe. Technology has helped many foreign banks gain an advantage over government banks in India and also in Zimbabwe. Some of the banking areas revolutionised by technology are ATMs, online banking, phone banking, customer service, foreign exchange etc. Indian banks are highly competitive and have strengthened themselves due to information and technology. They are providing many services and provide value addition which has enabled them to successfully compete with many global, well established and technically sound banking corporations. Zimbabwean banks are comparatively at a preliminary stage and are incorporating value addition and services at a slower rate. Unemployment is a negative driver for banking environment in Zimbabwe. Population migration and AIDS are further deal breakers. Corruption in the government and finance sector is further affecting the banking industry in both countries. Social responsibility is not well adopted in Zimbabwean, whereas almost all major nationalised, private and foreign banks are making huge efforts to be socially responsible in India.

French and Indian War

The French and Indian War, a colonial manifestation of the same forces and tensions that erupted in the European Seven Years' War, was, quite simply, a war about expansionism. The French and the English were competing for land and trading privileges in North America; which lead to land dispute, particularly the Ohio Valley. Each nation saw this territory necessary to seize to increase its own power and wealth while limiting the strength of its rival. Although the war itself occurred from a simple being, its consequences were far- reaching. The English had won the war and decided the colonial fate of North America, but yet at the same time showed the beginning of a colonial revolution. After the war, the British ended their reign of salutary neglect, so the colonials would be watched under a closer eye. The British also raised taxes in an effort to pay for the war. Both of these postwar plans resulted in massive colonial displeasure and added to nationalism that eventually exploded in the Revolutionary War. Thesis Statement: Prior to the French and Indian War the colonists enjoyed salutary neglect, but soon after the defeat of France and the acquirement of French land, the almighty British implemented mercantilism, settlement restrictions, and several controversial duties in the colonies. Economic The French and Indian war took a large toll on the American Indians lives. The British took revenge against Native American nations that fought on the side of the French by completely off their supplies and forced these native tribes to follow their rules. Native Americans that had fought on the side of the British with the understanding that their cooperation would lead to an end to European invasion on their land were unpleasantly surprised when many new settlers began to move in. Furthermore, with the French presence gone, there was little to distract the British government from focusing its attention on whatever Native American tribes lay within its grasp. Colonists were forced to trade raw materials for goods. Ideological Relations Before the French and Indian War broke out, the main issue facing the two colonial powers was separation of the continent. The English were settled along the eastern seaboard, in Georgia, the Carolinas, and what the Northeastern United States is now. The French controlled Louisiana in the South and the far North, and Northeast Canada. The Cherokee and Choctaws inhabited the mountainous region in between the two powers and attempted to maintain their independence by trading with both nations. France regarded itself as possessor of all disputed lands in the west, including the Ohio Valley. The English needless to say, disputed the French claim. Although the French lay claim to far more territory than the English did, the French territory was lightly populated. Often French territory was not marked by the existence of outposts or towns but simple forts manned by only a few men. English territory, by contrast, was rapidly being populated. The pressures of a growing population, the desire for expansion, and impatience to gain access to the profitable fur trade of the Great Lakes region impelled an intense English desire to extend westward during the 18th century. Political During the late 1740’s, the British slowly moved to expand their land. In the 1740’s, they constructed a trading fort, Oswego, on the banks of Lake Ontario. In 1749, the Ohio Company, a group of Virginian investors, successfully petitioned the English crown for lands in the Ohio area with the purpose of building a settlement. The next year a conference was held in Paris in an attempt to sort out some of the conflicting claims. There was little progress was made. In 1752, the Marquis Duquesne assumed the office of governor of New France, with specific instructions to secure possession of the Ohio Valley. All of these small tensions set the stage for the French and Indian War to explode. Colonists now had to obey British laws that were enforced by these governors. These governors were appointed by the king or the proprietor. Colonial legislatures made laws for each colony and were monitored by the colonial governors. While the War has often been portrayed as merely a fight between England and France, the many Indian nations that lived in these regions played a pivotal role in both the instigation and the outcome of the conflict. The fight for control of the continent was a fight between three nations, and until the late 18th century it was not at all certain which one would win. The Indians, especially the five nations of the Iroquois, were exceptionally good at playing the French and the English against each other in order to maximize their own benefits. The French and Indian War was a guerrilla war of small skirmishes and surprise attacks. The land was unfamiliar to both the French and the English; the involvement of the Indian nations as allies in battle made an enormous difference. Faced with the greater resources of the British and lacking the advantage of their Indian allies, the French were left with little hope, and soon lost the continent. Prior to the French and Indian War the colonists enjoyed salutary neglect, but soon after the defeat of France and the acquirement of French land, the almighty British implemented mercantilism, settlement restrictions, and several controversial duties in the colonies. French and Indian War The French and Indian war happened because of the hatred between the French and English and because of the competition for land. Most of the war occurred in America and troubled the colonists greatly. They didn’t like having the British soldiers all over their country and having to deal with them everywhere. The relationship between Britain and its American colonies was dramatically altered after the French and Indian war because of the conclusion of the British salutary neglect and the new acts and policies England enforced on them.The American colonies began changing their opinions of the British after the French and Indian war when parliament took control. Parliament passed several laws and enforced numerous taxes, such as the Sugar act, which put a tax on sugar, wine and other goods, the Quartering act, which let British soldiers stay in the homes of the colonists and they had to feed and pay for them, then there was the Stamp act, which was most important because it effec ted every single colonist by imposing a tax on almost all printed documents in the colonies.This was done because of how much debt England was in after the French and Indian war. Colonists were enraged because they were so accustomed to the long period of salutary neglect and felt it unfair that England interfered with their lives in this way. Another factor that caused the British and their American colonies relations to change was their interference with the economics of the colonies.Prime Minister George Grenville reinforced the Navigation acts from the 1660’s, which forced colonists to only trade with England and said that all goods going from Europe to the colonies must pass through England so they can be taxed. The Navigation acts had been around for about a century but they had never been fully implemented until after the French and Indian war. The colonists were completely unaccustomed to being controlled by England so harshly.American colonists were sick of being tre ated so terribly by the British with all the new taxes and rules they had to follow, they started to have severe animosity towards England. Many colonists would protest, many smuggled goods, and just defied the acts claiming that Britain does not have the power to implement such laws on them. There were also fights that would break out between the British redcoats and the American colonists, the most important one being the Boston Massacre during which five people died because of the aversion between the redcoats and colonists.Eventually all of these intense skirmishes lead to a revolutionary war between America and England. The French and Indian war brought the colonies together as they found a common enemy. It made them realize that England could not rule over them anymore and they could do something about it. The French and Indian war turned people who were once loyal British subjects into anti-British protestors struggling for independence. French and Indian War The French and Indian war happened because of the hatred between the French and English and because of the competition for land. Most of the war occurred in America and troubled the colonists greatly. They didn’t like having the British soldiers all over their country and having to deal with them everywhere. The relationship between Britain and its American colonies was dramatically altered after the French and Indian war because of the conclusion of the British salutary neglect and the new acts and policies England enforced on them.The American colonies began changing their opinions of the British after the French and Indian war when parliament took control. Parliament passed several laws and enforced numerous taxes, such as the Sugar act, which put a tax on sugar, wine and other goods, the Quartering act, which let British soldiers stay in the homes of the colonists and they had to feed and pay for them, then there was the Stamp act, which was most important because it effec ted every single colonist by imposing a tax on almost all printed documents in the colonies.This was done because of how much debt England was in after the French and Indian war. Colonists were enraged because they were so accustomed to the long period of salutary neglect and felt it unfair that England interfered with their lives in this way. Another factor that caused the British and their American colonies relations to change was their interference with the economics of the colonies.Prime Minister George Grenville reinforced the Navigation acts from the 1660’s, which forced colonists to only trade with England and said that all goods going from Europe to the colonies must pass through England so they can be taxed. The Navigation acts had been around for about a century but they had never been fully implemented until after the French and Indian war. The colonists were completely unaccustomed to being controlled by England so harshly.American colonists were sick of being tre ated so terribly by the British with all the new taxes and rules they had to follow, they started to have severe animosity towards England. Many colonists would protest, many smuggled goods, and just defied the acts claiming that Britain does not have the power to implement such laws on them. There were also fights that would break out between the British redcoats and the American colonists, the most important one being the Boston Massacre during which five people died because of the aversion between the redcoats and colonists.Eventually all of these intense skirmishes lead to a revolutionary war between America and England. The French and Indian war brought the colonies together as they found a common enemy. It made them realize that England could not rule over them anymore and they could do something about it. The French and Indian war turned people who were once loyal British subjects into anti-British protestors struggling for independence. French and Indian War The French and Indian War also know as the Seven Years’ War, was the North American conflict that was part of a larger imperial battle between France and Great Britain. It was named by British and American forces fighting against French and Canadian forces associated with the Algonkian nations. It was the fourth of a series of wars. It sometimes was known as the Intercolonial Wars. It lasted from 1754-1763. The French and Indian War was diverse in that it arose in the colonies and spread to Europe when Britain acknowledged war on France in 1756 to begin the Seven Years' War (â€Å"French and Indian War†).It guaranteed the dominance of English- speaking people over North America and set the stage for the American Revolutionary War, or the American War of Independence (1775-1783). It originated as a war between the Kingdom of Great Britain and the Thirteen Colonies, but progressively grew into a world war between Britain on one side and the freshly formed United States. T he British and the French had been rebellious for colonial control in the Americas since the late 1600s.Both wanted access to profitable trade opportunities and to land for expanding reimbursement (â€Å"French and Indian War (Overview)†). Most of the French and Indian War was fought in Upstate New York and Pennsylvania over such sites as Fort Duquesne (Fort Pitt), Fort William Henry, and Fort Carillon. It was a particularly new-style American battle in that it contained mostly of guerrilla-type rebellious in the wilderness and alongside colonial borders. The war began in a struggle for control of the immense lands of the trans-Appalachian region, especially the Ohio River Valley.To exclude English settlers from lands they claimed, the French established a series of forts across the area. Both the French and the Indians were fighting for the land because of the resources, such as timber. Most of the Indians sided with the French because the British made a permanent settlement on their land which made the French very angry. Although the war with the French ended in 1763, the British continued to fight with the Indians over the issue of land privileges.â€Å"Pontiac's War† disappeared shortly after the Treaty of Paris was signed, and many of the battlefields including Detroit, Fort Pitt, and Niagara were the same. The Indians, already drained by many years of war, quickly surrendered under the aggressive British revenge. The issue remained a problem for many years to come (â€Å"French and Indian War†). The results of the war effectively ended French political and cultural impacts in North America. England expanded considerable amounts of land and immensely reinforced its grasp on the continent. The war, however, also had delicate consequences.It desperately worn the relationship between England and Native Americans and though the war seemed to support England's grip on the colonies, the effects of the French and Indian War played a major ro le in the fading relationship between England and its colonies that eventually led into the Revolutionary War (â€Å"French and Indian War (Overview)†). As George Washington said in his letter to John Augustine, â€Å"We expect every hour to be attacked by a superior Force, but shall if they stay one day longer be prepared for them† (â€Å"Letter to John Augustine†).As you can see, the French and Indian War, a colonial extension of the Seven Years War that devastated Europe from 1756 to 1763, was the goriest American war in the 18th century. It took more lives than the American Revolution. The war was the product of an imposing struggle, a brawl between the French and English over colonial terrain and prosperity. Within these global forces, the war has also been seen as a product of the restricted conflict between British and French colonists.

Advantages of Cooking a Food by Yourself Essay

Foods have important for human’s life. Some people choose prepare food at home, because it’s a save money. In the other hand, some people want to comfortable and save time, they choose eating ready-made meal. But, if you like to take care oneself, I can advise to you about advantages for cooking at home by yourselves. There are three advantages of home cooking; healthy, budget saving and family communicates. First of all, home cooking will make a healthier because you can choose fresh ingredients and high quality for planned menu. If you want diet or take care of eating, you should cook at your house. Such as, food’s material and seasoning for cook, it have label show nutrient information to you. It will help to you calculate volume and control the ingredient. Moreover, if you want to eat vegetarian food, you will be confident for prepare food by yourselves. For some people seriously to process cooking some food. Although, you ordering in high price restaurant, you will not surely them because chef will make a dish in kitchen that you can’t look it. In short, at present, many people see healthy as important, them pay attention to eating and exercise. So, cooking at home is a good choice for you. Second, eating at home is a great to reduce the expenses for daily food. Such as, you spend for once meal at restaurant, it be equal to you cook a two or three meal at home. Moreover, you just to pay rent on your house or apartment, and buy kitchen equipment, you should use kitchen to most benefit. All in all, if you don’t believe me, you can try to calculate how much money you can different to save when you go to restaurant with cooking at home. You will be surprised, it a good ways to save money. Last, in your family, you can use cooking activity for increase communication. Home cooking, is a fun activity when doing it with the other members in your family. For example, you can guide to prepare food for your kids. They can help to you and your children have a nice relationship. Furthermore, you can sit in front of the TV and watch an interesting TV program with family. Finally, having home-cooking at home, they are closer and share some good or bad moments happened that time. So, if you want to add relation for family, it a good reason for started to cook a food in your family. In conclusion, There are three reason support about advantage prepare of food by yourselves. It is a better choice for people who love to take care of health, save budget, and increase family relationship.

Spanish Verbs of Remembering and Forgetting

The most common Spanish verbs of remembering and forgetting are recordar and olvidar, respectively. Verbs For Remembering and Forgetting Recordar: Here are some examples of recordar in use. Note that it is conjugated irregularly, following the pattern of — in other words, the of the stem becomes. Recuerdo que nuestro equipo era impresionante. I remember that our team was incredible. ¿Ya no recuerdas cuando eras un nià ±o? You still dont remember when you where a child?Firefox no quiere recordar mis contraseà ±as. Firefox doesnt want to remember my passwords.No recuerdo donde fue mi primer beso. I dont remember where my first kiss was.Siempre te recordaremos. We will always remember you. Etymology:Recordar comes from the Latinrecordari, meaning to remember. Interestingly,recordar is a cousin of the wordcorazà ³n, meaning heart, as the heart has been thought of as the center of memory and emotions. False-friend alert: Except in poor translations from English, recordar is not used for meaning to record. Verbs used for that purpose include anotar (to write down) and grabar (to make a sound or video recording). Acordarse de: Also commonly used for to remember is the reflexive verb acordarse followed by the preposition de. As you might have guessed, acordarse is also a cousin of corazà ³n. It also is conjugated following the same pattern as recordar. Me acuerdo de la brisa que nos acariciaba. I remember the breeze that would caress us. ¿Por quà © a veces nos acordamos de lo que soà ±amos y otras veces no? Why do we sometimes remember what we dream and other times we dont?La respuesta corta a la pregunta es no, no se acordaron de nosotros. The short answer to the question is no, they didnt remember us.No quiero acordarme de ayer. I dont want to remember yesterday. Rememorar: Spanish does have a cognate of remember, rememorar, but it isnt used very often, and then usually to refer to an event being memorialized or recognized: Presidente Correa rememorà ³ la masacre del 2 de agosto. President Correa remembered the Aug. 2 massacre. Olvidar: Olvidar is the only verb in common use that means to forget. It sometimes is used in the reflexive form, often in the phrase olvidarse de, which can (but doesnt always) suggest deliberate forgetting. In some areas, olvidarse without the de is common. Los Spurs olvidaron el estilo que los habà ­a distinguido. The Spurs forgot the style that had distinguished them. ¡Ayà ºdame! Olvidà © mi contraseà ±a de Hotmail. Help! I forgot my Hotmail password.No voy a olvidar nunca mi visita a Mà ¡laga. Ill never forget my visit to Mà ¡laga.Me olvidarà © que fuiste mà ­o y que ahora te perderà ©. Ill forget that you were mine and that now I will lose you. ¿Por quà © nos olvidamos de fechas importantes? Why do we forget important dates? ¡No olvidemos lo nuestro! Lets not forget whats ours! Often olvidarse can function like gustar, in that the thing forgotten becomes the subject of the verb, and the person(s) who forgot becomes the indirect object: Es un video que no se te olvidarà ¡ nunca. Its a video youll never forget. (Literally, its a video that will never be forgotten to you.)Un dà ­a se me olvidaron las llaves del carro. One day I forgot the car keys.Se me olvidà ³ el coche en el autolavado y cerraba a las 6. I forgot the car in the car wash and it closed at 6. Etymology: Olvidar comes from the Latin oblitus, forgetful, making it a cousin of English words such as oblivion and oblivious. Sources Sources used in this lesson include  Fotolog.com, Devocionalies Cristianos, Internetizado.com, Isaac Arriola, La Voz de Galicia, Soyunalbondiga.com, Mi Rincà ³n del Alma, Taringa.net, Tenisweb, Terra.com, Ubuntu-es.org and  3wilio.