TAILIEUCHUNG - Sustaining U.S. Global Leadership: Preiorities For 21st Century Defense

Stock markets can be differentiated by their trading systems. These trading systems vary in the way transactions are handled, type of transactions made, type of information available to market participants, and the process of matching orders to sell and buy (Glen 1994). Trading systems can be classified by the method of matching the orders, . periodic vis–a vis continuous market, and also by the presence of a market maker, . continuous system with a monopolistic specialist vis-à-vis a competition continuous market. In a periodic call auction market, orders are accumulated for simultaneous clearing at a predetermined time. | Sustaining . Global Leadership Priorities for 21st Century defense JANUARY 2012 THE WHITE HOUSE WASHINGTON January 3 2012 Our Nation is at a moment of transition. Thanks to the extraordinary sacrifices of our men and women in uniform we have responsibly ended the war in Iraq put al-Qa ida on the path to defeat - including delivering justice to Osama bin Laden - and made significant progress in Afghanistan allowing us to begin the transition to Afghan responsibility. At the same time we must put our fiscal house in order here at home and renew our long-term economic strength. To that end the Budget Control Act of 2011 mandates reductions in federal spending including defense spending. As Commander in Chief I am determined that we meet the challenges of this moment responsibly and that we emerge even stronger in a manner that preserves American global leadership maintains our military superiority and keeps faith with our troops military families and veterans. I therefore directed this review to identify our strategic interests and guide our defense priorities and spending over the coming decade. This review has been shaped by America s enduring national security interests. We seek the security of our Nation allies and partners. We seek the prosperity that flows from an open and free international economic system. And we seek a just and sustainable international order where the rights and responsibilities of nations and peoples are upheld especially the fundamental rights of every human being. Indeed as we end today s wars we will focus on a broader range of challenges and opportunities including the security and prosperity of the Asia Pacific. As a new generation across the Middle East and North Africa demands their universal rights we are supporting political and economic reform and deepening partnerships to ensure regional security. In contrast to the murderous vision of violent extremists we arc joining with allies and partners around the world to build their .

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