Total maximum word count 12100 words 44 pages (double spaced, 275 words per page)
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Chapter 1 Introduction and Background (1200words)
1.1 Introduction
In the context of this study, an international banking activity refers to the import or export of banking transactions and services in foreign currency. Colquitt & George (2011, pp 54) assert that banking is significantly growing from local banking to international banking. Additionally, the world is fast changing and volatile business environment is taking its toll on countries. In the changing world, the concept of international banking has become a vital subject that has significantly transformed economic as well as diplomatic relations among states. Referring to Colquitt & George (2011, pp 54)’s research findings, until the 1970s, most banks concentrated their transactions in their countries, regarding themselves as local institutions. However, Pigman (2005, pp 16)’s studies show that with the rapid growth of international networks and globalization, the phenomena of international banking systems has emerged. It is evident that banking institutions shifted from being centralized local organizations to global organizations. Looking at the presentation made by Pigman (2005, pp 16), international banking is any type of banking carried out across international and political borders.
1.2 Background to the study
Based on social studies made by Lee (2005, pp 5), civilization narrowed social distances between human beings. Lee (2005, pp 5) found out that the benefits of exchanging goods across boundaries lead to the present- day practice of international trade. Consequently, Lee (2005, pp 5) agreed that such transaction of goods across countries required financial intermediation hence the birth of international banking. As a result, international banking facilitated international exchange of currencies of foreign nations at the international level. In this regard therefore, the emergence of international banking is intertwined closely, hence, the rise of international trade. Historically, Rose (2007, pp 30) said that the emergence of international banking traces to the reversion period before World War I when banks in Europe dominated the world capital market. According to Rose (2007, pp 30), during the period between 1940- 1960, regulatory control on convertibility of currencies of sovereign states diminished the importance of international banking. Additionally, from 1960 onwards, globalization of capital market began to take root lead to an increased turn over in international trade and subsequent increase in the flow of capital at the international level. Rose (2007, pp 30) found out that this in turn translated to increased transfer of funds from banks to non – state actors.
Pigman (2005, pp 385) says that international banking system is justified on the basis it facilitates the movement of goods across the international boundaries of countries. In the literature by Lee (2005, pp 50), international banking premises on the doctrine of global interdependency that underscores the need for dependency and reliance among states. According to Lee (2005, pp 50-51), in the world today, no state can afford to be autarkic especially in the fields of international trade and international banking. Therefore, it is upon this basis that the international system of banking is justified. Lee (2005, pp 50)’s findings suggest that the practice of international banking entangles often with the principle of diplomacy. The concepts of international banking are platforms to developing international relations by encouraging sharing and understanding of culture. Further, international banking aids the interaction and integration among states and their citizens in the field of international trade. Nevertheless, despite the crucial link between the concepts of international banking and diplomatic relations, the relationship between these two phenomena is hardly discussed. More so, the extent to which the practice of international banking affects diplomatic relations among states is an area that scholars have ignored. In most cases, studies on international banking and on diplomacy focus on these two issues independently rather than discussing their inter-relationship with one another. Therefore, this means that there exists limited literature that singlehandedly tackles these two phenomena side by side, highlighting the impact of the system of international banking on diplomatic relations among countries.
1.3 The research problem
The research problem in this study had two dimensions. First, the study sought to interrogate the operation of the system of international banking in UK and China. The second aspect was to analyze the relationship between these international banking systems and their diplomatic relations. The study took the position that there was a direct link between international banking systems and diplomatic relations at the international level and therefore sought to investigate this hypothesis. The discussion based on the international banking systems and diplomatic relations between the states of UK and China developed. It was interesting to juxtapose the approach to international banking by these two different legal systems. At the same time, the study provided a bridge in the differences by finding a common ground that provides the basis upon founded diplomatic ties.
1.4 Rationale (reason for the study)
As can be evidenced from the discussion presented in the background of the study above, international banking systems occupy a vital position in the field of international relations. Studies have suggested that there is a significant intertwining between the principles of international banking and that of diplomacy. It focuses on elucidating the manner in which international banking affects the U.K and Chinese diplomatic relations. The researcher tactically selected the jurisdictions of UK and China as because of the increased alignment of China with the super powers that has led to establishment of diplomatic ties with countries in this category such as the UK. The study argues that international banking is not just concerned with the promotion of economic activities among states but also their diplomatic ties. In this regard, it will not be very helpful to discuss one concept in isolation of the other. That is why this study seeks to highlight the areas of interaction between these two fields and suggest ways of improving the system of international banking to improve diplomatic relations among the states of UK and China.
1.5 Aims and objectives of the study
The general aim of this study was to establish a direct relationship between the concepts of international banking and diplomacy and to relate the same to the jurisdictions of UK and China. In addition to the general aim, the specific objectives of the summarized herein were:
a. To analyze the concept of international banking systems
b. To discuss the international banking systems of UK and China
c. To establish the linkage between international banking systems and diplomatic relations between UK and China
d. To recommend measures to improve the system of international banking which will in turn will increase diplomatic ties among states.
1.6 Research questions
The study sought to answer the following research questions:
1. What is the link between international banking systems and diplomatic relations in regards to UK and China?
2. How does international banking affect diplomatic ties between UK and China?
3. What measures improve international banking systems of UK and China in order to promote diplomatic relations between the two countries?
1.7 The relevance of the study
This study will significantly highlight the areas of interaction between international banking and diplomacy. Additionally, the study will suggest ways of improving the system of international banking to improve diplomatic relations among the states of UK and China. Moreover, the study will identify the strategies taken by UK and Chinese banking institutions in developing international banking.
1.8 Structure of the dissertation
Chapter 1 provides the background and the objectives of the research. Chapter 2 identifies comprehensive literature review that addresses the objectives of study. Chapter 3 presents the research methodology. Data collected in the study occurs in chapter 4 while chapter 5 presents discussion of the results obtained. Chapter 6 provides the conclusions, implications of the study and recommendations by the researcher.
Chapter 2 Literature review (4500words)
2.1. Introduction
Concept of international banking systems
International banking systems in China
International banking systems in UK
Link between international banking systems and diplomatic relations between UK and China
Measures to improve international banking and diplomatic ties among states.
2.2. Conclusion
Chapter 3 Research methods (1500 words)
3.1 Introduction
.
3.2 Research purpose
3.3 The research framework
3.4 Research philosophy and perspective
3.5 Research Approach adopted
3.6 Qualitative vs. Quantitative study
Describe both qualitative method or quantitative analysis
3.7 Research methods used- primary research methods
Interviewing relevant Chinese officials and making use of the available figures in the PRC and the UK. Of course, you will be placing the discussion within the theoretical framework of economic or trade diplomacy.
the “in-depth interviews” promised will have to be more specific and convincing.
3.8 Sampling method
3.9 Data analysis
Use either qualitative method or quantitative analysis
3.10 Validity and reliability- triangulation
Describe triangulation
Apply to this study
3.11 Ethical concerns
3.12 Limitations and delimitations of the study
3.13 Conclusion
Chapter 4 Data Findings and Presentation of Results (1000 words)
4.1 Introduction
4.2Interview results in tables based on the research objectives
4.3Conclusion
Chapter 5 Data analysis and Discussion (3000 words)
5.1. Introduction
5.2. Overview
5.3. Discussion of the specific objectives
5.4. Conclusion
Chapter 6 Conclusions and Recommendations (1000 words)
6.1. Introduction
6.2. Conclusions
6.3. Implications of the study
6.4. Recommendations
Appendices
References
Required 20 to 30 sources (Mainly recent sources between 2005 to 2015)
Colquitt, J. A., & George, G. (2011). Publishing in AMJ — part 1: topic choice. Academy of
Management Journal, 54(3), 432–435.
Lee, D. (2005). The growing influence of business in UK Diplomacy. International Studies
Perspectives, 5, 50–56.
Pigman, G. (2005). Making room at the negotiating table: The growth of diplomacy between
nation-state governments and non- state economic entities. Diplomacy and Statecraft, 16,
385–401.
Rose, A. K. (2007). The foreign service and foreign trade: Embassies as export promotion. The
World Economy, 30(1), 22–38.
