Suchergebnisse

Investing in Asian Offshore Currency Markets provides comprehensive coverage of the development of offshore currency trading in Asia, and in particular, the issues and challenges of developing the Renminbi as an international currency. Brought together by an editor team with extensive academic and market experience, it features contributions from leading bankers, analysts, bank supervisors, economists and academics, providing timely coverage of: market microstructures; legal requirements; risk management issues; and challenges regarding emerging Renminbi market outside mainland China. The Renminbi offshore market is still in the process of rapid development. The contributions in this book provide insight and detailed discussion on how an emerging market currency goes through the process of internationalization. This process will continue with gradual liberalization of capital account in Mainland China and interest rate fixing for Renminbi in offshore interbank markets. The Renminbi offshore market starts from Hong Kong and extends to Taiwan, Singapore and London but its development faces significant challenges. These challenges are addressed in this book.

Abstract. The UK has experienced recurring periods of hydrological droughts in the past, including the drought declared in summer 2022. Seasonal hindcasts, consisting of a large sample of plausible weather sequences, can be used to create drought storylines and add value to existing approaches to water resources planning. In this study, the drivers of winter rainfall in the Anglian region in England are investigated using the ECMWF SEAS5 hindcast dataset, which includes 2850 plausible winters across 25 ensemble members and 3 lead times. Four winter clusters are defined using the hindcast winters based on possible combinations of various atmospheric circulation indices (such as the North Atlantic Oscillation, NAO; East Atlantic, EA, pattern; and El Niño–Southern Oscillation). Using the 2022 drought as a case study, we demonstrate how storylines representing alternative ways the event could have unfolded can be used to explore plausible worst-case scenarios over winter 2022/23 and beyond. The winter clusters span a range of temperature and rainfall response in the study region and represent circulation storylines that could have happened over winter 2022/23. River flow and groundwater level simulations with the large sample of plausible hindcast winters show that drier-than-average winters characterised by predominantly NAO−/EA− and NAO+/EA− circulation patterns could have resulted in the continuation of the drought with a high likelihood of below-normal to low river flows across all selected catchments and boreholes by spring and summer 2023. Catchments in Norfolk were particularly vulnerable to a dry summer in 2023 as river flows were not estimated to recover to normal levels even with wet winters characterised predominantly by NAO−/EA+ and NAO+/EA+ circulation patterns, due to insufficient rainfall to overcome previous dry conditions and the slow response nature of groundwater-dominated catchments. Through this analysis, we aim to demonstrate the added value of this approach to create drought storylines during an ongoing event. Storylines constructed in this way supplement traditional weather forecasts and hydrological outlooks, in order to explore a wider range of plausible outcomes.

Purpose: This study compared Cognitive-Behavioral Therapy (CBT), Mindfulness-Based Cognitive Therapy (MBCT), and Activity-based Supportive Counselling (treatment-as-usual; TAU) for reducing delinquency, psychological risk factors, mental health symptoms, and improving the quality of life among at-risk youths in Hong Kong outreaching social services. Methods: In this quasi-experimental study, non-custodial youths with delinquency and mental health issues underwent eight sessions of CBT ( n = 24), MBCT ( n = 30), or TAU ( n = 61). Results: Dependent-sample t-test showed CBT reduced mental health symptoms and delinquency. TAU reduced mental health symptoms and improved quality of life. MBCT resulted in no significant change. Time x group ANCOVA underscored TAU in improving quality of life. Hierarchical linear regression showed decreases in delinquency and mental health symptoms mediated by decreases in psychological risk factors. Discussion: Results suggest that outreaching social service agencies in Hong Kong could enhance their intervention by augmenting the sports and leisure activities of TAU with structured CBT programs.

Purpose:Recent literature has pointed out the seriously unmet treatment needs of delinquent youth with mental health problems in Hong Kong. This study pioneers to systematically develop and evaluate the effectiveness of a structured low-intensity cognitive behavioral intervention (LICBI) to concurrently address mental health issues and delinquent behaviors among Hong Kong Chinese youth.Method:A quasi-experimental controlled design was adopted with three assessments at baseline, postintervention, and 6-week follow-up. One hundred and eighty participants were recruited to the LICBI and 123 to the control group.Results:Multilevel modeling analyses showed that the LICBI might be effective in improving mental health–related factors (impulsivity, self-esteem, negative emotions, and loneliness) and delinquent behaviors. A mediation analysis suggested that LICBI might reduce participants' delinquent behaviors through reducing their impulsivity and enhancing their self-esteem.Discussion:The results provide preliminary evidence for the effectiveness of LICBI for Chinese delinquent youth in a community social service setting.