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Globalization in Morocco - Essay Example

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The essay "Globalization in Morocco" discusses the background of globalization processes in Morocco. Moorish dynasties began their rule in Morocco a century after the Arab conquests in 788. The 16th century saw the rise of the Sa'adi monarchy, who fought against foreign invasion and ushered in a golden era…
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Globalization in Morocco
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Download file to see previous pages The official language spoken is Arabic and its dialects and the language used for business is French. Their legal system is based on Islamic law and French and Spanish civil law systems.
The economic policies of Morocco brought some stability to the country in the 1990s but could not initiate sufficient growth to put an end to the prevailing unemployment problems. The problem worsened when draught reduced the output in agriculture and as a result, wheat had to be imported at skyrocketing world prices. Trying to build up small and medium enterprises and its continued dependence on foreign energy slowed down the economy still further.
Therefore, Moroccan authorities realize that understanding the reasons for their poverty and providing jobs to beat the problem of unemployment and improving agriculture are the key points necessary to improve domestic security and further development. To improve the living conditions of its people, the Moroccan Government is trying to implement a few reforms in its effort of opening its economy to foreign investors.
Their currency, the dirham, is wholly convertible only for current account transactions. In 2005, the Moroccan Government launched the National Initiative for Human Development (INDH), a $2 billion social development plan that addressed the poverty and unemployment issues of the country and to improve the conditions of the urban slums in the country (World Fact Book). In 2006, it also took part in the FTA (Free Trade Agreement) (World Fact Book) with the United States to resolve some of the long-term issues associated with improvement in education and job prospects for Moroccan youth. The FTA is also responsible for bridging the gap between the rich and the poor by encouraging tourism and boosting competition in the textile industry. ...Download file to see next pagesRead More
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