Summarize two articles - Essay Example

Summary of Two Articles Thailand: Culture Ministry to fight against southern violence through culture The southern unrest in Thailand has been causing much controversy in terms of cultural diversity in the region. As a solution to end the violence, the Ministry of Culture proposed to use culture to educate the people about Thai and other cultures to encourage understanding and harmonious relationships between people of different cultural backgrounds. Apart from promoting local people’s participation in various cultural projects, the ministry also aims to provide financial assistance to those who wish to go on a pilgrimage to Saudi Arabia for further education about its culture. 2. Chipping Away at Japans Bailout CultureBankrupt companies in Japan seem to find a way out of their debts by inviting foreign enterprises to bail them out.

One example is Elpida Memory which agreed to be taken over by the American Company, Micron Technology for $760 million with the expectation that $1.8 billion be made to pay for Elpida’s debts in banks and other secured creditors at 70% of what they are owed. Unsecured creditors of Elpida, on the other hand only get 20-30% of what they are owed. This has caused much uproar amongst bondholders who complain that the Micron offer was way below the value of the Elpida company, which they claim is valued at $3.8 billion. Hence, they have resorted to seeking other sponsors to take over.

In the past, Japan would not have allowed such battle to happen since investors rolled over funds while a restructuring was forced upon them. The government would force the takeover of a bankrupt company, causing negative outcomes for the company itself and its employees, and being a burden to the economy. Nowadays, bankruptcy is a real option due to more openness to foreign take-overs rescuing failed Japanese companies.