英语论文网

the “DOG factor”: a discount for obnoxious governments. Iran, like Russia a target of Western sanctions, trades on a p/e of just 5.6 and has a total stockmarket value of $131 billion; were it to be rated on a par with the average emerging market, its market value would be $292 billion, so its DOG factor is $161 billion or 55%.

Argentina’s government has manipulated its inflation rate, defaulted on its debt back in 2001 and, thanks to the legal battle that ensued, may do so again in a few days’ time. Its stockmarket trades on a price-earnings ratio of 6.1. As a result, its total value is $56 billion, rather than the $115 billion it might have commanded (a DOG factor of 51%). After its hyperinflationary episode last decade, Zimbabwe’s rating has recovered a bit, although it still lags the emerging-market average.

The stockmarket is not the only way that investors penalise untrustworthy governments; Argentina’s 20-year bonds yield 9.8%, more than five percentage points above the yield on the equivalent Mexican bonds. (Russia cancelled a bond auction this week, citing “market conditions”.) The more the government spends on interest, the more it has to tax its citizens and the less money it has available to spend on services. The bond-market vigilantes may have been neutered in the developed world by central banks and their quantitative-easing programmes, but they are still capable of inflicting damage in emerging markets.

Many people in the affected countries see these discounts as proof of Western bias or a sign of the malign impact of international capitalism. But the acid test is what they would do with their own money: would they trust their government enough to keep it at home, or would they rather send it abroad?

Low carbon consumption is the consumer to descendants and responsible attitude to the society in the process of consumption actively to realize low energy consumption, low pollution and low emission.It is a kind of based on the ecological consumption patterns of civilization, science and health.Human environment effect on consumers in its unique way, become consumers in the process of formation and development of low carbon consumer behavior an irreplaceable factor.Based on this, this paper probes into the cultural environment of the mechanism of the low carbon consumption.Analyzes believed that both values and traditional culture, scientific literacy, will directly or indirectly affect low carbon consumption behavior of consumers.In order to promote low-carbon consumption, this paper think that the urgent task is to try to create a good cultural environment of low carbon consumption.To arouse the consciousness of consumer culture and scientific consumption, formed in the whole society advocating frugality, the concept of rational consumption, moderate consumption, with the concept of sustainable consumption guide consumption pattern change, gradually establish a compatible with national conditions of civilization, health, science of low carbon consumption patterns.

In recent years, global warming has led to imbalance of water resources, agricultural production, ecological system and so on serious damage, serious impact on the human environment and natural ecology, the sustainable development of human society has brought the huge impact.A recent report from the UN本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。