1. Nature (features) of Morocco’s economy
Morocco, a nation in the Northern part of Africa bordering the North Atlantic Ocean and the Mediterranean Sea, has demonstrated improvements in their economic landscape in recent years. The nation’s gross domestic product for the year ending 2013 was $180 Billion (reported in USD), representing an increase of $7.8 billion from 2012 and placing them 60th amongst the world’s nations (Central Intelligence Agency, 2014, Economy). The gross domestic product is the value of all final goods and services produced within a nation in a given year (Central Intelligence Agency, 2014, References & Definitions). These figures prove that Morocco has increased their output from 2012 to 2013, therefore reinforcing the fact that the nation’s economy has shown signs of growth. In 2012 alone, the Moroccan economy grew 3.2%, driven mainly by internal consumption and public investment (African Development Bank Group, 2014, para.1). Funding the economy and its growth remains a challenge, however, the government has already began to seek ways to increase investment within the nation and develop strong relationships with other nations.
The Moroccan economy is considered a market-oriented economy, where the economy operates by voluntary exchange between members of the market without being controlled by a central authority (Central Intelligence Agency, 2014, Economy, para.1). With the nation’s proximity to Europe and the Middle East, they have been able to capitalize and use the low labor costs to build an open market. Since the economy operates as an open market, foreign investors can leverage the economic landscape to establish a presence rather easily. Morocco has a government-mandated minimum wage, which is 10.1...
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...ccan officials are hopeful that the FTA will help accelerate and stabilize the country’s economic reform process by allowing more competition and the formation of business partnerships across a wide variety of key sectors (i.e. insurance and banking) (US-Morocco FTA, 2004, para.1). Morocco is currently becoming more modernized and globalized, as there is an increase in government regulations pertaining to the labor code and a development in commercial courts and customs services. American businesses are already actively operating in Morocco. A whopping $2.2 billion has been invested in the nation through the operation of 120 American businesses, such as Fruit of the Loom and Dell (US-Morocco FTA, 2004, para.3). The Morocco-US FTA will provide an increase in competition with European trading partners who must now consider the active and engaged American operations.
" Middle East & North Africa Business Report, the Jordan 30 Mar.
The economics of Haiti has deceased in the last 4 years after the devastating earthquake that struck it 4 years ago. The Haiti economy has become very poor and one of the poorest country in the south, Central America and Caribbean region making it ranked 24 out of 29 countries in this area and its overall score is below average. Haiti’s economic freedom is 48.1 making it economy the 151st freest country while in the last several years Declines in the management of government spending, freedom from corruption, and labor freedom make its overall score 2.6 points lower than last year. Recovering from the disastrous earthquake in 2010 with the support of the U.S. recovering efforts “Haiti’s post-earthquake reconstruction efforts continue, assisted by substantial aid from the international community. Governing institutions remain weak and inefficient, and overall progress has not been substantial. The parliament has not renewed the mandate of the Interim Haiti Recovery Commission, which had been tasked with overseeing reconstruction efforts but was unpopular.”( .heritage.org). The open market of Haiti trade weighted to be 2.1 this is because the lack of tariffs hamper the trade freedom of Haiti. Foreign investors are given national treatment but the investment is small and the financial sector is remained underdeveloped and does not provide any adequate support.
Priscilla. “The World Economy and Africa.” JSpivey – Home – Wikispaces. 2010. 29 January 2010. .
Economic ways started in the nineteenth century, still have a hold on the countries of the sub-Sahara today. These countries are all impoverished and have seen horrific civil wars, however, the general consensus is that they are making slow improvements in their economy. The starvation, overpopulation and health problems are still very evident. Perhaps continued assistance coupled with education and protection will keep them on the road to stability and more rewarding lives for their citizens.
It is thought-provoking, in the sense that Africa’s need for foreign created a race to the bottom, much like what Pietra Rivoli described in The Travels of a T-Shirt in the Global Economy. Due to some African states’ reliance on foreign aid in order to mine and profit on their resources, they allow business standards to be lowered and for Chinese firms to tip the contracts moresoever in the favor of Chinese firms. This lowers the potential earnings of African states by lowering royalty rates, for example. Additionally, Burgis’ research was thorough and transparent. When he did not receive a response or if his questions were dodged, he made it obvious to the readers. Sure, some could view this book as too anecdotal to be used as a credible source of Africa’s situation. However, this is due to the nature of the system Burgis is writing about; after all, they are shadow states for a reason. Some readers will be saddened by this text, others angry, most curious to learn more, but above all, everyone will be intellectually stimulated and
In Tunisia, young people have taken control of a country that has been under the control of Zine El Abidine Ben Ali for the last 20 years. Tunisians could not get jobs without being extorted by local officials. They could not buy a house without bribing an official. Any activity involving government often required money to push the paperwork through. Tunisians who received coll...
Many business owners and entrepreneurs are doubtful about the global opportunities available to their business. In other words, business owners don’t give consideration to the world markets, instead they tend think locally in terms of gaining customers. This doubt however is unfounded. The international trade commission reported that 70% of the world’s purchasing power and 95% of the world’s consumers are located outside of the United States, which means that there is a massive market that is currently untapped by 99% of business in America. In addition to doubt, there is the uncertainty about exporting to other countries, this uncertainty may stem from lack of knowledge about foreign trade and the international laws. A business owner may be uncertain about how, when, where, and to whom it is legal to ship their products. Although, this uncertainty is understandable it is not required for businesses that are conducting business legally within the United States, business owners should remain mindful of this so that they can push their uncertainties aside. The last factor that deters businesses from international trade is Fear. Fear that there will be unforeseen and uncontrollable issues with transporting goods such as: theft, loss, damages, diversions, and/or regulatory penalties that may be imposed on the business. Although, there is a
Saudi Arabia’s capital market is considered to be young compared to other financial markets in the region. Saudi financial markets have been developing slowly because most enterprises in the country are either government owned or family-owned, most of which was funded through state budget, and as a result reduced the need for financing. In the recent past, Saudi Arabia has focused on a careful measurement for structural developments and regulatory changes. However, different phases of historical development of the capital market which can be classified into three phases; pre-industrialization phase, post industrialization phase and growth phase that sparked changes and shaped the kingdom 's capital market on
Amongst the booming economies of Europe, Albania is markedly poor, and is trying to make the difficult transition to a more modern open-market economy. In addition, the government is taking steps to encourage economic growth as well as trade. Albania, according to 2003 estimates, “has a GDP of $16.13 billion, with a per capita GDP of $4,500” (“Albania – CIA Factbook” 2) This is an improvement over the Cold War era, in which Albania’s economy was a complete disaster – still, however, Albania’s economy is considerably weak compared to its European neighbors. The economy is helped by “remittances from people abroad of $400-$600 million annually, mostly from Greece and Italy, and this money helps lower the sizable trade deficit” (“Real Adventures – Albania” 1). Agriculture, which accounts for half of Albania’s GDP, is frequently stifled because of recurring drought and the burden of having to modernize their equipment and trying to make use of sparse land. What also complicates economic matters is that there have been severe energy shortages, and old-fashioned and highly inadequate infrastructure makes it difficult to attract large-scale foreign investment, which accounts for 18.7 % of Albania’s GDP (according to 2003 estimates...
...tober 2004. < http://news.bbc.co.uk/1/hi/world/africa/1599003.stm .> Pelham, Nick. "Morocco continues liberal moves." 22 October 1999. BBC News Homepage. October 2004. < http://news.bbc.co.uk/1/hi/world/africa/482053.stm .>
The economy of a nation is a major indication of its success. One aspect of a nation's economic success or failure is the system of government. Whether a nation is socialistic, communistic, ruled by absolute sovereignty, or based on capitalistic principles can be a key factor in a country's economic success or failure. Government is the foundation of an economy but it is not what determines its success. Issues that determine a nation’s economic success include growth strategies, improved or increased resources, investment and savings, government policies, trade, foreign direct investment, income distribution, labor allocation, innovations in technology, and several other economic issues. I feel that economic growth is the main indicator of economic success. Additionally, innovations in technology, improving human capital, and improving foreign direct investment (FDI) are three issues that can lead to economic growth.
The international community have highlighted the benefits that efficient and effective trade in Africa could potentially hold; the G8 in 2005 (and again in...
...MENT ENCOURAGEMENT OF GLOBAL BUSINESS FOREIGN GOVERNMENT ENCOURAGEMENT Governments also encourage foreign investment. The most important reason to encourage investment is to accelerate the development of an economy. An increasing number of countries are encouraging investments with specific guidelines toward economic goals. MNCs may be expected to create local employment, transfer technology, generate export sales, stimulate growth and development of the local industry. US GOVENRMENT ENCOURAEMENT The US government is motivated for economic as well as political reasons to encourage American firms to seek opportunities in the countries worldwide. It seeks to create a favorable climate for overseas business by providing the assistance by providing the assistance that helps minimize some of the troublesome politically motivated financial risks of doing business abroad.
What makes economic growth so interesting is that it enables a country to do so much more than they are financially capable of to date, through economic growth a country can also help to lower the countries deficit. To date The Bahamas government have invested millions of dollars into the economy such as new roads and highways, schools, hospitals, hotels etc. If an economy makes an investment it is to improve and encourage growth within their economy. In my opinion economic growth is beneficial to any economy although there are a number of hurdles that must be crossed to really feel and see the economic growth. This research paper is to enable a better understanding of the economic growth and how The Bahamas has grown and investments that they have made to sustain the economies developments.
The topic that I have selected for my chapter evaluation essay is that of “Economic Development”. This paragraph above is the best summary of the chapter’s contents. In this chapter the author discusses the influence of development on the three worlds of countries. These worlds are benchmarks set to assess countries economic states relative to each other.