留学生国际关系硕士课程论文范文

发布时间：2016-12-02 07:52

考绩制度，，永远不会离开其建立一个伊斯兰国家的野心，显然想要证明其承诺宗教方案和议程的制度化。

无论你怎样看待它，事实仍然是货币的考绩制度为主导的吉兰丹州政府已引入新体系。州政府称之为一个可替代选择，但当然希望人们使用它。选择为林吉特笔记和森硬币现在是州政府已分别称为第纳尔和迪拉姆的金银纪念币。
这一举动是前所未有的肯定会影响在这个国家的政治形态。如果吉兰丹介绍了它，那么我们可以认为，吉打州将步其领导班子也是考绩制度的后尘。

In simple language, what the Kelantan state government has done is this - you can now use their self-minted gold and silver coins to pay for purchases there.
It is a practice from the early Islamic societies which PAS wants to revive in present-day Kelantan to show its religious credentials. The dinar was the official currency of Islamic societies for centuries.
Nik Mahani Mohamed, executive director of the state-owned Kelantan Gold Trade Sdn Bhd, which mints the coins, has reportedly said that over 1,000 stores would be using the coins. He has described the circulation of the coins, which started on Thursday, as a "great, great moment". Each dinar is worth RM180 and one dirham is RM4.
Kelantan state executive committee member Datuk Huzam Musa has downplayed the issue, saying syariah currency should be seen as an alternative currency for barter trade. He has been quoted as saying that the dinar had been around since the beginning of Islam.
A check with the Kelantan Gold Trade website has shown that the currency-maker has proudly declared that "this is the first time in the last 100 years, since the collapse of the Ottoman Caliphate, when a Muslim government introduces the syariah currency".
It also said this would be "the return of a medium of exchange that has been known for 1,400 years" and encouraged religiously.
What has set the Kelantan dinar apart from other countries such as Algeria, Iraq, Bahrain, Libya and Tunisia, which all use dinar as a currency, is that theirs are paper money.
Indeed, in 2002, Tun Dr Mahathir Mohamad had pushed for the gold-based dinar system to be used as an international currency to prevent currency manipulation, which had sparked off the 1997 Asian financial crisis. He had wanted the dinar to replace the US dollar but, as expected, he could not convince the other countries

The former premier was presumably looking at the issue from an international perspective as he did not talk about replacing the ringgit or seeing another system in a Malaysian state.
Bank Negara is, as expected, peeved. It has said that the ringgit is the only legal tender for payment of goods and services in this country.
While the Kelantan dinar could be used as payment of zakat and dowries, for example, it still needs to be proven how it could be used for daily transactions. For practical reasons, how much of the currency can be minted and circulated widely?
It has been reported that staff of the state administration would be paid with the dinar. If this is so, how will this be worked out and would banks want to be involved in the transaction since Bank Negara has said that the ringgit is the only legal tender?
Kelantan Mentri Besar Datuk Nik Abdul Aziz Nik Mat had said the state would strive to expand the use of the currency in its transactions, including in the remuneration of civil servants.
We can expect more denominations to be worked out along the way and since these would be coins instead of notes, Kelantanese who support the move would need bags or pouches to carry these heavy things around. Their pockets just won't do.
Whatever the intention of the PAS state government, it would be regarded as a political ploy ahead of the next general election to win over the Malay voters.
PAS, which has never moved away from its ambition of setting up an Islamic state, obviously wants to prove its commitment to institutionalising its religious programmes and agenda. The latest currency decision is just one of the many that would come.
MCA president Datuk Seri Dr Chua Soi Lek has challenged the other Pakatan members - namely PKR and the DAP - to state their stand on the Islamic currency, saying the issue should be handled properly as it would affect the confidence of foreign investors and entrepreneurs.
A quick look on the blogs and Twitter has shown many negative reactions among non-Muslims to the move by the Kelantan government. Many have expressed incredulous comments, with some saying the decision was a case of "one upmanship" in Malay politics that would not help the country in the long run.

1.0 Theory
1.1 Function of Money

Money is an object that is generally accepted as payment for goods and services. The function of money is as a medium of exchange, unit of account and the store of value.
Medium of Exchange : The money is a good medium of exchange as it enables the goods and services to be carried out smoothly from the producer or seller to the customer. If without the money, the barter system will appear. It is a system where goods are directly exchanged to others goods.
Unit of Account : The money has its value. It allows us to record the total monetary value in a given transaction. It uses to pay for a good or services that we buy.
Store of Value : The money is good form of storing value for future consumption. It can be stored in many place like the bank moreover it can be readily for taking out without facing any problem of deterioration and liquidity.

1.2 Form of Money
Money basically can be divided into Fiat money and Commodity money.
Fiat money is money that has an extrinsic value and it can be converted into a valuable commodity. It is a type of money whose value comes from the public's general willingness to accept in exchange for other goods. The money has its value because of the government recognized it as a terms of value that can be exchanged with other goods and services.
Commodity money is the money that has its own value. Commodity money has an intrinsic value which means that items already have its value even if it is not incur in the transaction of money.  Examples of commodities that have been used as mediums of exchange include gold, silver and copper. The Dinar Money System is actually based on both Gold as Dinar and also Silver as Dirham.

1.3 Money Defined
In the money defined there are ways to calculate the M1 and M2. The M1 consists of the sum of currency and the checkable deposit. While the M2 is the sum of the M1, small time deposits, money market mutual funds and the savings deposits. The money is valuable in its term as it is acceptable by all the people around the world. Money is legal tender as it is recognized by the government and the money is relatively scarce in the economic.

1.4 Function of Central bank
The central bank is a monetary authority that has the right to issue coins and paper notes. It acts as a banker's bank as the entire private owned commercial banks are required to place a certain amount of deposit with the central bank. This deposit is used to facilitate the debts between the central banks and the commercial banks. Besides that the central banks also acts as a banker to the government as when the government faces any financial problem, the government will sell or buy the government bonds to the bank. The government has two major accounts with the central bank. One is dealing with the government revenue and expenditure and the other is dealing with the country's leading and borrowing funds. The central bank manages national debts that will act behalf of the government meanwhile pay the interest to the current holders of the government securities. The central bank act as government advisor who always advise the government on financial position of the country and offer counselling to the government pertaining to the financial system of the country. It also act as a controller of foreign exchange by it will assume that the task of controlling the sale of foreign exchange and prevent the excessive outflow of its currency. In addition the central bank is a lender of last resort as when the commercial bank is running of cash, they will call back the short-term loans that made to the discount house and the houses will seek borrowing from others financial institute.

1.5 The Monetary Policy
When the commodity is used as money, the money supply can grow only if the supplies of these items are increase in its value. Nowadays the monetary systems are direct by the government to control the money supply in the market. Monetary policy is the process by which a government, central bank, or monetary authority manages and control the money supply to achieve specific goals. The goal of monetary policy is to adapt economic growth in an environment of stable prices, maximum employment, control inflation, and moderate long-term interest rates.
A failed in using the monetary policy may cause hyperinflation, stagflation, recession, high unemployment, shortages of imported goods, inability to export goods, and even total monetary collapse. Governments and central banks have taken both regulatory and free market approaches to monetary policy. Tools that been used in controlling the monetary supply includes by interest rate, purchases or sales the currency, by government borrowing or spending, manipulation of exchange rates, control the bank reserve requirements, control or prohibition of private currencies, taxation on imports or exports of capital.
When the Centra Bank of Malaysia sells the securities, the money supply is reduced as the people paid for the bonds they buy to the banks. While the Centra Bank of Malaysia buys the securities, the money supply increases. In the monetary policy, the reserve ratio, discount rate and the term of auction facility all may influence the money supply in the market.
The Centra Bank of Malaysia also can utilize both of the Expansionary Monetary Policy and Contractionary Monetary Policy to control the economics. When the economics facing recession, the expansionary monetary policy will be use to lower the target for interest rate at the same time, the Centra Bank of Malaysia will buys securities to expanded the money supply and downward pressure on the other interest rates. When the economics facing inflation, the Contractionary Monetary policy will be use to rise the target for interest rate and the Centra Bank of Malaysia will sells the securities to reduced the money supply.
Besides that, there are three types of demand of money: the transaction demand of money, the asset demand of money and the total demand of money. The nature of the demand for money had changed for owing to technical, institutional, and legal factors that affect the monetarism. The advantages of the monetary policy are its speed and flexibility than the fiscal policy and it is isolate from political pressure.

2.0 讨论—— Discussion
The current Fiat Money System which has being used by the countries all around the world enable credits to be created within the world economy. This can be seen where several countries government was printing money aggressively to pay debt and caused the hyperinflation to be happened within the particular countries. For the most recent case, hyperinflation was happen in Zimbabwe and caused the country to give up it own currency on 12th April 2009. Fiat Money System, which mean the paper money is printed and in used without the back up of any commodities, caused the uncertainty within the value of the money as it is the result of the negotiation between the supply and the demand of the particular money.
Malaysia Ringgit had first issued by the Bank Negara Malaysia on 12th June 1967 with the symbol "M$" was in used, and yet replaced by "RM" on 1990. However, the international monetary code for Malaysia Ringgit is still remaining unchanged as "MYR". Each Malaysia Ringgit was equivalent to One Singapore Dollar (M$1 = S$1) and also One Brunei Dollar (M$1 = B$1) since it introduced until 8th May 1973, and Malaysia Ringgit had losing its value since that if compared to both Singapore Dollar and Brunei Ringgit.
During the 1997 Asia Financial Crisis, Malaysia had opted to peg the Malaysian Ringgit at RM3.80 = US$1.00 since 2nd September 1998. Malaysia Ringgit had pegged with US Dollar until 21st July 2005, which was also the 4 days later after the People's Bank of China ended the Chinese Yuan (RenMinBi)'s peg to US Dollar.
Throughout the decades after Malaysia's government pulled out of the Malaysia, Singapore and Brunei Currencies of Interchangeable Agreement on 8th May 1073. Malaysia Ringgit had experienced much greater fluctuation in its value if compared to both Singapore Dollar and Brunei Ringgit. This is not only affecting the nation's purchasing power, but also causing higher FOREX risks to the local companies and also the FDI, as well as the foreign investors to the country. The FOREX risks hurt investment and the economy as a whole. This is also why Singapore government does not allow the Singapore Dollar to become a freely float international currency. In fact the country had chosen to control it currency with a basket of manageable currencies rates, and yet enable the country currency to become one of the world most stable currency. This is important not only to attract FDI but also as a tool to manage Inflation.
The idea of using Dinar as a currency is not a new suggestion by Kelantan State government. The idea in fact had been suggested much earlier to the world by the Malaysia Former Prime Minister, Tun Dr Mahathir Mohamad in the 2003 Gold Dinar Convention. He was encouraged the OIC countries to use Gold Dinar as international payment settlement though the Bilateral Payment Arrangement (BPA) as a way to avoid the currency crisis. This is because the Gold Dinar which is a physically Gold is consider a commodity money that have it own value, and gold are also the commodity that usually in used to hedge the inflation. Currently there are with 3 different Gold Dinar that circulated in Malaysia, which included:

Kijang Emas - Introduced and Minted by Bank Negara Malaysia and Circulated by Maybank Bhd.
Dinar Kelantan - Introduced and Minted by Kelantan Corporation Bhd and circulated by both Kelantan Corporation Bhd and Ar-Rahn.
Public Gold - Introduced, Minted and Circulated by Public Fine Gold International Sdn. Bhd.
As for current, the Gold Dinar is not a currency of legal tender as Malaysian Law has stated the rights of issue money for the nation is in the hand of Bank Negara Malaysia, and yet Bank Negara Malaysia had stated that Malaysia Ringgit is the only legal tender in Malaysia. However the Kelantan State's Government in the order hand stated that they were promoting Gold Dinar as a medium for barter system within the stated but not as a currency of the state. This should make no legal arguments with the used of Gold Dinar within the state's economy. And the current purposes for Gold Dinar in Malaysia are mainly for paying Zakat and Dowry, Collection, Buying Merchandise, and Holding a Gold accounts to make and receive payments in the Gold units.
Since the ancient time, gold and silver had been used as the commodity currency of several empires as well as countries before and after world war one and world war two. However, gold was entirely taken out from the monetary system in 1971 when the Bretton Wood System was abandoned by the US and the rest of the world. The paper money was not backed with any commodities since that and that is the current fiat money that without any intrinsic value.

2.1 The reason to support Gold Dinar as Major Money
If Gold Dinar is in used as the major currency of Malaysia, the nation can be able to limit its FOREX risks as the Gold Dinar rate is simply equivalent to actual Gold rate. A country fiat money can become worthless but a Gold Dinar's value will be able to maintain forever. This can further reduce the risks in international trades.
Besides, the used of Gold Dinar can also eliminate the risk of serious deficit spending by the government, and yet the government has no chance to print more money just for paying it debts. This is because each of the Gold Dinar are simply Gold , but not a piece of paper as in used in creating the currency fiat money. This will make hyperinflation become impossible to be happened and also inflation will be able to keep at the most minimum rate, as the money supply can only grow at the rate of the gold supply increases, but not beyond the supply of the gold itself.

2.2 The reason to oppose Gold Dinar as Major Currency

If Malaysia adopts Gold Dinar as the Major currency of the country, this will significantly disable the ability for Bank Negara Malaysia to control the country's economy by using the Monetary Policy. This is because once the Gold Dinar is in used as a currency of Malaysia, the amount of money supplied will be determined by the supply of gold but not the Bank Negara's decision. Yet the Bank Negara will lose it power in ease the recessions by supply more money to the economy.
Moreover, when the supply of money is totally depends on the supply of gold, it will place Malaysia to the much higher deflation risk. The reason is because of Malaysia is not a major gold and silver production country. According to the British Geological Survey in July 2008, Malaysia had only produced 3497 kilograms (=123353.04+-OZ) of gold in the year of 2007. Its mean the Malaysia had been able to produce only US$148Billion (App US$1200.00/oz) value of gold in the whole year of 2007, but the country's nominal GDP was achieved US$191.463Billion in the year of 2009 (Based on IMF). The country requires the import of gold from other countries as the way to facilitates the demand of the money, otherwise the economy grows will be faster than the Gold Dinar supply. And the only way to solve the problem is for the Gold Dinar to circulate faster or to lower the transactions cost within the country's economy. Such scenario will limit the economy growth of the country and bring deflation to the country.
Once deflation happens, only savers will be rewarded and debtors will need to bear more cost. Loans will significantly decrease and Malaysian will choose to save more rather than making investments. Therefore, overall expenditure of the country will decreases, and brings the country to a deflation cycle which is very difficult to control without the use of Expansionary Monetary Policy.

3.0 Conclusion 结论
Gold Dinar is not a new creation of the Kelantan State's Government. In fact, Gold Dinar has been used widely in the ancient world as a medium of trades, as well as current Islamic Communities. However, the implementation of the widely used of Gold Dinar within Malaysia should not base on the religion or political reasons. In facts, the policy makers should conduct serious and complete researches within Gold Dinar and its impacts to the Malaysia economic as a whole.
The government should take serious consideration in adapting the Gold Dinar usage to the country economic. This is because the Bank Negara Malaysia will lose its ability in applying monetary policy once the country decided to use Gold Dinar as the country's currency or backed the Malaysia Ringgit with the Gold Dinar. And the supply of the money within the country's economy will be fully dependent on the supply of Gold Dinar.
However, the current world fiat money system is in crisis as US Dollar is fall into long term down trend. When the world central banks start to rebalance their foreign reserves, it will cause US Dollar to decrease sharply, since it is the major reserves currently after World War 2. Euro in the other hand is in crisis as well, as Greece Crisis popped the issue where it is particularly hard for each different nation with different cultures, as well as economy status to use the same set of monetary policy and also the same currency. Besides, some economists even voiced that the Euro requires a complete makeover due to the currency itself is lack of one unite central government support.
In order to create a more stable economic prospect for Malaysia, it is suggested by our group that Gold Dinar can be used partially in the current Malaysia economy system. We can use Gold Dinar as the medium of exchange in international trades and Malaysia Ringgit for domestic uses. The reason is because of we can limit the FOREX risks in international trades by simply adopt the Gold Dinar as the unit of account. When the Malaysia Ringgit is mainly for domestic uses only, the rate of the currency can be better supervised by Bank Negara Malaysia. And the most importantly, Bank Negara Malaysia will not lose its ability in using the Monetary Policy to control the country's economy, as long as Malaysia Ringgit keeps its status as the Malaysia only legal tender.
For the past decades of development in the Islamic Banking System in Malaysia, the country has successfully to proof to the world that while develop the Islamic Banking System, it can also manage to adopt dual banking systems and run parallel with the Conventional Banking System. Besides, the currency control of Malaysia Ringgit in 1997 Asia Financial Crisis also enabled Malaysia to be the only Asian country to adopt Expansionary Monetary Policies during that period of time. Another typical example is that the Singapore Government who restricts the Singapore Dollar to be an international currency has successfully to grant Singapore Dollar as the world most stable currency.
As the conclusion, Malaysia is believed to be able to adopt both currency systems effectively as its proven effectiveness in running both different banking systems. And the Monetary Policies are much important for any countries of the world to control its nation's economy. By adopting two different currency systems (Malaysian Ringgit for Domestic Uses and Gold Dinar for International Trades), Malaysia can be able to isolate the Malaysian Ringgit from speculations and the country's purchasing power can be better managed. Besides, the Bank Negara Malaysia can limit it foreign reserves loss due to the possible decreases of the value of major reserves fiat currencies, as the country main reserves are now turn to majority Dinar Gold. Yet, its can also strengthen the country as the hub for the World Islamic Financial System.

本文编号：201410