Framework of PPP Application in Public Housing Project in China

Introduction Public-private partnership is considered as one of the best ways of helping a country to achieve its developmental goals. One of the areas where this approach is highly used is in improving the housing sector. Advertising We will write a custom essay sample on Framework of PPP Application in Public Housing Project in China specifically for you for only $16.05 $11/page Learn More Numerous countries like the United States and Britain have successfully used public-private partnership to provide proper housing facilities to their people. Some of the reasons that are making countries to opt for public-private partnership include the inability by governments to provide adequate financial support and the desire to curb public inefficiency (Jacobson and Choi 637). Through public-private partnership, a government overcomes the challenges of overstretching its financial resources. Moreover, it helps the government to utilize the skills possessed by p rivate sectors. With the numerous benefits associated with public-private partnership, this paper aims at coming up with a public private partnership framework for China. The paper will outline some of the general principles of application framework for public housing, outline some lessons learnt from other countries like the United States, and give the roles of all stakeholders. In addition, the paper will outline the possible sources of finance and risks associated with public-private partnership and give some measures for mitigating the risks. Principles of application When applying for a public private partnership in a public housing project in China, the parties to the partnership ought to consider numerous principles. These principles include the due diligence and contract administration (Jacobson and Choi 638-642). Integrity is crucial in any public-private partnership. Hence, for the housing project to be successful, the partners should come up with a detailed due diligence process. In the due diligence, the partners should clearly outline how the varied events of the project should take place. Besides, they should show how all the project’s activities would take place and the evaluation criteria that the project would use to gauge its progress. One of the factors that lead to the failure of public-private partnership projects is the lack of transparency when evaluating the progress of the project (Jacobson and Choi 643-650). One of the parties to the project might feel that the other one is shortchanging it by not disclosing all the details of the project. For the housing project to be successful in china, the government and the private investors should embrace transparency when evaluating the project.Advertising Looking for essay on political culture? Let's see if we can help you! Get your first paper with 15% OFF Learn More In every public-private partnership, there must be a signed contract (Jacobson and Choi 652-657). For t he success of the public-private partnership in public housing project in China, the parties should come up with a signed contract. The contract ought to outline the responsibilities of each party in the partnership. The contract should be developed with a lot of care and carefully managed throughout the project cycle. In a bid to ensure that no conflict arises during the partnership period, the contract should identify the responsibilities and accountabilities of both the government and private investors. In addition, the contract ought to stipulate the target dates for the project and the performance standards as well as factors that might lead to termination of the contract. Lessons from the United States A study of public-private partnership application in housing projects in the United States and Australia indicates that any government intending to use a similar approach should consider numerous success factors. One of these factors is complimentary/compatibility of skills am ong the crucial parties (Jefferies 451-457). The housing project would only be successful if the parties to the project have the relevant skills. The Chinese government should thus get into partnership with private investors that have adequate skills in housing projects. Such a partnership would help in ensuring that both parties come up with proper budget, operations processes, and plan well for the project prior to commencement. Failure to collaborate with the right party may lead to conflicts emerging in the course of the project thus leading to the project being terminated prematurely. Another factor that would ensure the success of the housing project is coming up with efficient approval process. The American government succeeds in public-private partnerships because of establishing an efficient approval process for all its projects. Consequently, to ensure that any project is completed on time, it is imperative that the project is approved on time (Jefferies 458-461). Failure to have an efficient approval process may lead to the persons implementing the project failing to meet the deadline. On the other hand, they may fail to follow all the procedures during the project implementation process in an attempt to meet the deadline, thus not meeting the required standards. Proper resource management is vital for the success of any public-private partnership. The American government and private investors ensure that the both parties to any joint project are accountable for the available resources (Jefferies 462). Advertising We will write a custom essay sample on Framework of PPP Application in Public Housing Project in China specifically for you for only $16.05 $11/page Learn More Holding each party accountable for the project’s resources ensures that the parties utilize the resources as required. For China to succeed in running its housing project through public-private partnership, the government and private investors have to come up with policies that ensure that all parties to the partnership utilize the available resources efficiently. Project structure and responsibilities of stakeholders Numerous project structures exist for public-private partnership including joint ventures, service contract, management contracts, and lease contracts (Chowdhury et al. 247). The best option for the housing project in China is the joint venture structure. A joint venture involves both the government and the private investors running and owning the project. In most cases, projects owned entirely by the government suffer from political influence (Chowdhury et al. 248-253). Therefore, to ensure that the Chinese government succeeds in providing proper housing facilities to its people, it would be imperative to come up with a joint venture project with private sectors or investors. In this case, the government would not have absolute powers over the project, and thus it would not manipulate the project to meet p olitical goals. The project ought to have a clear corporate governance to ensure that the government does not influence the project politically. Private investors ought to assume the operational roles. In most cases, private investors have all the required expertise (Chowdhury et al. 254-259); hence, the Chinese government should structure the project in a manner that the private investors assume the operational roles. In the public-private partnership, the Chinese government should assume the role of establishing the project’s targets, establishing a favorable environment to ensure that the project is completed on time, and assigning the level of independence that the private partners ought to have in the project. In addition, the government should assume the role of addressing all the political hurdles that might hamper the success of the project. On the other hand, the private partners ought to assume the role of project implementation. Normally, private investors bring in their expertise in any public-private partnership (Chowdhury et al. 260). The same case would apply in a public housing project. Private investors have the knowledge on how to cut down on operational cost; therefore, the Chinese government ought to give them the role of running the project to make sure that it does not incur unnecessary costs. Sources of finance, and capital structure The public-private partnership financial structure is decidedly intricate. However, public-private partnership projects mostly comprise of two sources of finance. These are the equity financing and private debt financing (Trafford and Proctor 117). In the proposed housing project, it would be imperative for the partners to source their finance through debt financing. Advertising Looking for essay on political culture? Let's see if we can help you! Get your first paper with 15% OFF Learn More The private partner is supposed to assume the full project’s debt financing cost. Debt financing would provide an appropriate incentive for the private investors to make sure that the risk of cost escalation linked to the debt is well addressed and operations are in accordance with project expectations. Key risks and their corresponding mitigation measures Every project is susceptible to risks and thus it is imperative that the parties implementing the project identify the possible risks and come up with measures to mitigate them in time. The risks that are likely to affect a public housing project implemented through public-private partnership in China include the political risks, high revenue or demand risks, land risks, and currency risk (Trafford and Proctor 118-124). Public-private partnership projects are vulnerable to political interference from government agencies seeking to satisfy their political ambitions. Besides, it might be hard for the parties to acquire land for construction of houses, thus making it hard for them to go on with the project. A public housing project would require a lot of time to complete. Consequently, along the way, the parties may realize that the initial budget is not enough to complete the target project. Changes in currency value and inflation may lead to the project requiring extra funding above the initial budget (Yongjian et al. 491-496). Therefore, to overcome all these risks, the parties to the partnership ought to come up with mitigation measures. In a bid to mitigate the effects of political risks, the Chinese government ought to assign the private partner the responsibility of running the project. In this case, the government would have no influence over how the project is managed thus overcoming its political influence. On the other hand, it would be advisable to put into consideration the unforeseeable costs when establishing a budget for a public-private partnership project (Trafford and Proctor 125-12 8). The budget ought to be flexible to cater for all miscellaneous expenditures that might arise during the project implementation course. The risk of currency fluctuation is hard to mitigate. Nevertheless, by allocating extra fund to the public-private partnership project, it would be possible for the Chinese government and private investors to address the risk. The extra fund would help in catering for any extra money required for the project due to inflation. All these measures would facilitate in ensuring that the parties to the housing project are armed with the requisite measures to deal with any emerging risk, thus ensuring that the project runs as expected. Other key considerations of the concession Despite coming up with measures to deal with potential risks during project implementation, it would be hard for any public-private partnership project to succeed if the parties to the project do not reach a consensus regarding asset ownership, land acquisition, and government incentives among others (Yongjian et al. 481-489). The public housing project partnership in China ought to be a joint venture. This would make sure that the government and the private investors co-own the project thus ensuring that no one claims absolute ownership of the project. On land acquisition, one of the parties may opt to acquire land while the other meets the cost associated with the supply of construction materials. For the partners to minimize the cost of building houses in China, they ought to negotiate on the appropriate government incentives. Conclusion Today, most countries are opting to use public-private partnership in offering most of the essential public facilities like housing. For successful partnership, the partners ought to consider numerous principles. They should establish a due diligence process. The process would outline the project implementation strategies. In addition, the partners would sign a contract that would outline the role of every stakeholde r in the project thus avoiding chances of conflicts between the parties. The factors that would contribute to the success of a partnership in the housing project in China include the compatibility in skills among the partners, efficiency in the project approval process, and accountability in resource management. Moreover, to succeed in the housing project, the partnership ought to be a joint venture. This form of partnership would ensure that both parties commit themselves to the project. The Chinese government ought to assume the management roles and leave the private investor with the role of implementing the project. Debt financing would be the most appropriate method of sourcing funds for the project. The risks that are likely to affect a public housing project implemented through public-private partnership in China include the political risks, high revenue or demand risks, land risks, and currency risk. Proper preparation prior to project implementation would help in mitigati ng these risks. Works Cited Chowdhury, Abu Naser, Chen Po-Han, and Robert Tiong. â€Å"Analyzing the structure of public-private partnership projects using network theory.† Construction Management and Economics 29.3 (2011): 247-260. Print. Jacobson, Carol, and Sang Choi. â€Å"Success factors: Public works and public-private partnerships.† International Journal of Public Sector Management 21.6 (2008): 637 – 657. Print. Jefferies, Marcus. â€Å"Critical success factors of public private sector partnerships: A case study of the Sydney SuperDome.† Engineering, Construction and Architectural Management 13.5 (2006): 451-462. Print. Trafford, Sue, and Tony Proctor. â€Å"Successful joint partnerships: Public-private partnerships.† International Journal of Public Sector Management 19.2 (2006): 117-129. Print. Yongjian, Ke, Wang ShouQing, Albert Chan, and Esther Cheung. â€Å"Understanding the risk in China’s PPP projects: ranking of their probabil ity and consequence,† Engineering, Construction and Architectural Management 18.5 (2011): 481-496. Print. This essay on Framework of PPP Application in Public Housing Project in China was written and submitted by user Gabriel Cherry to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Formation of Rainbows

The Formation of Rainbows The rainbow is one of God’s most adored creations, perhaps due to its multiple colors and unique shape. In most traditional societies the rainbow is used to convey information about the changes in weather. For instance, some African communities believe that if a rainbow appears in cloudy weather, chances of rainfall are narrow. Therefore, this paper will shed light on the logic behind the formation of rainbows, and also where the colors come from and the shape of the rainbow.Advertising We will write a custom research paper sample on The Formation of Rainbows specifically for you for only $16.05 $11/page Learn More How the Rainbow is Formed According to Lee and Fraser (2001), the earth, just like the other planets, relies on the sun for lighting purposes. The rays of the sun that are emitted towards the earth are comprised of multiple colors, such as green, red, and yellow, among many others. When the rays of sun land on the surface of the earth, they cause the temperatures of the earth to increase, leading to evaporation of water in the water bodies such as rivers and lakes. When the water is evaporating, and by any chance it comes into contact with the rays of the sun, that is when the rainbow is formed. When the sun rays land on any given water particle, the multiple colors are dispersed. Since water is opaque, it allows the sun rays to penetrate and exit on the rear end of the water particles. However, there are some rays that are bent by the water particles and the light that is bent is what is seen as the rainbow. The sun releases the rays in wavelengths: the sun rays are emitted in varied wavelengths, meaning that they travel at different strengths. Therefore, the strength of the wavelength is what dictates the color to be assigned to any given ray. The Colors of the Rainbow The sun is a million miles away from the earth, but amazingly the rays that are emitted are parallel to one another and the space between them can ne ver be overlapped until they land on an object. Topdemir (2007) explains that the rays that have short wavelength are blue, and alternatively the rays that have long wavelength are red in color. Moreover, the bending of sun rays is influenced by their wavelength. In fact the colors that we see in a rainbow are not all because the ones that are not strong enough are not bent, and thus they are not displayed in the rainbow. Usually, the rainbow has seven colors: red, orange, yellow, green, blue, indigo, and violet. Rainbows are usually visible during the day towards the evenings, and maybe if the clash between the sun rays and water particles took place before afternoon, say like at around lunch time, it would not be possible for us to see the rainbow. The timing of a rainbow is very crucial because towards the evening the sun is usually headed to the east, thus its rays do not cover the entire surface of the earth. The position of the earth causes the rays to be bent 42 degrees upwar ds on landing on water particles.Advertising Looking for research paper on natural sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More The rainbow is usually displayed directly opposite the sun, and the viewer is normally in the middle. This is influenced by one’s location, but surprisingly we all see the colors differently. This can be explained by the fact that some people are color blind, and thus they can only identify less colors. In addition, the people on the ground can only see one half of the rainbow, and that is why most people argue that its shape resembles an arc. This is not true because what hinders them from seeing the complete rainbow is the ground. Those who have viewed it from an aerial view, especially when in a plane, can testify this because they are able to see the complete rainbow circle (Dong, 2000). The Shape of the Rainbow The rainbow has a curved shape because the sun rays are blocked by the e arth’s horizon, and since it is obvious that the shape of the earth is spherical this is a reasonable logic that is beyond doubt. This is because during the formation of the rainbow, the sun is usually about to set, hence its position is lower than that of the earth. To prove this argument is true, an experiment involving a medium sized spherical object like a pumpkin, and a source of light like a torch provides the same results. This is achieved by lowering the position of the torch, while the light is directed towards the spherical object and the end result is a spherical shadow (Topdemir, 2007). Types of Rainbows At times, the rainbow is displayed in a pair of two rainbows, which is commonly called a double rainbow. In such case, one rainbow is thicker than the other, and this happens to be the outer rainbow. According to Dong (2000), the outer rainbow resembles the inner one, only that its colors are not bright compared to the inner rainbow. The formation of double rainb ow is exactly the same as the formation of a single rainbow. However, the difference comes in how the rays are bent by the water particles because here, bending of sun rays occurs twice and simultaneously. The angle of bending the rays occurs at 53 degrees. In a double rainbow, there exists a space between the two arcs called the Alexander’s band which looks darker, probably due to insufficient lighting. A keen observation of the arrangement of colors in the outer rainbow reveals that its colors are inverted. In addition, a supernumerary rainbow is formed when there are less water particles in the atmosphere. This is probably due to the decline in the size of water drops. Here, several arcs that are formed behind the primary arc. The primary rainbow increases in width and its colors become lighter.Advertising We will write a custom research paper sample on The Formation of Rainbows specifically for you for only $16.05 $11/page Learn More With time th e arc becomes more of a fog than a rainbow. Supernumerary rainbows are said to be caused by downpours that have drops of varied sizes. It is certain that the drops of the primary arc have individual colors than those of the adjacent arcs. Lynch and Livingston (2001) outline that when a rainbow is displayed over the surface of water, such as above the lake or the sea, there is a reflection of the original rainbow. One arc is caused by the deflection of the water on the sun rays, but the main challenge is identifying the primary arc and the reflected arc. The reflected rainbow is normally placed above the primary arc. During the formation of this rainbow the rays of the sun land on the surface of water which then deflects them until they land on water particles in the atmosphere. The arcs meet at the horizon, but as they stretch outwards they appear to be parallel, which is not true. The other type of rainbow is called monochrome, and is common at sunset or sunrise. During such instan ces, the sun rays are said to be unable to reach the surface of the earth and the only rays that are visible are the ones that have long waves, probably the red colored ones. At sunset and sunrise, the sun is completely invisible. The rays that have short wavelengths cannot be seen, and that is why the rays have one color. However, the other colors are present, but we cannot see them with our natural eyes. When these long wave rays converge with water particles in the atmosphere, a monochrome rainbow is formed. Myths Involving the Rainbow There are various myths surrounding the formation of the rainbow, and they vary from one community to another. Among the Greeks, the rainbow is perceived to represent a footprint left by god’s messenger, commonly known as iris. In this community, the messenger walks along the rainbow to reach the earth, thus it acts as the bridge between the two worlds. Likewise, the Chinese mythology dictates that the rainbow is a gap that was present in th e skies and it was repaired by a female divine being by sealing it with stones of varied colors. Among the Hindu, the rainbow is expressed as the bow that is owned by the god of lightening Indra (Lynch Livingstone, 2001).Advertising Looking for research paper on natural sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Kunchinsky (2007) states that others still believe the rainbow is holy because they assume that the gods store their valuable possessions at the end of it. The mystery here is reaching the end of the arc which is not possible because as one moves towards the arc, it appears to be moving away. Some ancient people perceive it to be a necklace that belonged to a female divine being. Among the Christians, the rainbow represents the agreement that God made with Noah after the end of the greatest rainfall that killed both humans and animals. According to biblical scriptures the rainbow acts as a reminder to God that He made an agreement with humans not to use water to eliminate them. Conclusion The myths surrounding the rainbow are endless, but most people adore it because of its beauty; the colors of the rainbow. It is in this regard that renowned painters such as Albretcht Durer and Joseph Anton Koch have integrated the rainbow into their artworks. In literature the rainbow is said to i nvoke and give an impression of simile and metaphor. Perhaps that is why renowned poets like Virginia Woolf and John Keats incorporated it into their pieces. In textile industry there are numerous fabrics that apply the concept of the colors in the rainbow. Furthermore, that flags that have the rainbow colors are used by activists to advocate for change. Therefore, rainbows are among the natural phenomenons which depict the beauty of nature. References Dong, P. (2000). China’s Major Mysteries: Paranormal Phenomena and the Unexplained in the People’s Republic. San Francisco: China Books and Periodicals Inc. Kunchisnsky, C. (2007, December 7). The Rainbow the Various Myths Surrounding It. Web. Lee, R. L. Fraser, B. A. (2001).The Rainbow Bridge: Rainbows in Art, Myth and Science. New York: Pennsylvania State University Press. Lynch, D. K. Livingston, W. C. (2001). Color and Light in Nature (2nd ed.). New York: Cambridge University Press. Topdemir, H. G. (2007). Kamal-A l-Din Al-Farisi’s Explanation of the Rainbow. Humanity and Social Sciences Journal, 2 (1), pp.75-85.

Journal of Korean Melodrama A Moment to Remember(2004) Movie Review

Journal of Korean Melodrama A Moment to Remember(2004) - Movie Review Example A Moment to Remember (2004) is a typical Korean melodrama which is a beautiful romantic story with a heartbreaking view of love. Many may believe that A Moment to Remember is one of those typical love stories where the couple falls in love and eventually one of them gets terminally ill. This film was, however, one of those but the difference was that the girl was struck by Alzheimer’s disease. The film shows the series of forgetfulness suffered by the girl and how it leads to frustration and pain for the boy. The male lead is played by Chul Soo and the female lead is played by Su-Jin. This film gives thought to the views about the most important part of life. Some believe wealth and power are the most important while others say love and friendship. This movie rather portrays a simple view that our experiences are the most important part of us as they make us who we are. The movie teaches an important lesson about the significance of treasuring memories as they are the only thing we actually own. There are many other touching moments in the movie. One of them is the act and importance of forgiveness shown when Chul Soo is trying to forgive his mother for abandoning him when he was a child. Even though the movie is about the couple, it gives certain important messages such as being able to forgive is a gift. The movie then shows some really sweet and cute moments between the couple as they are torn apart by life. The story turns out to be painful and tragic as Su-Jin loses her memory. Death is common in melodramatic movies but this movie has pain and tragedy that is portrayed and acted very well. Thus, this movie clearly consists of all the elements that make it a good melodramatic movie. Melodramatic movies may commonly have five characteristics that are observed in this movie as well. The first is that it begins and ends with innocence. Secondly, the movie recognizes the virtue of the heroes and focuses on the victim. Thirdly,