Morocco is a north Africa country with a population of 32 million. This country mainly produces basic manufactured goods, such as textiles. Morocco also has many resources to export, like Phosphates and Argan. Morocco imports lots of fuels and foods. They also need electric products and machinery.
Because of its unique location, Morocco is a supporter of international trade. They signed the free trade agreement with European Union in 1996, The EU-Morocco agreement even has a plan for a free-trade zone. Morocco also signed the free trade agreement with the United States in 2006. It turned out that the trade jumped to $2.3 billion from 1.4 billion in 2007.
The foreign direct investment in Morocco was 2.5 billion dollars in 2009. Although there was a decline of about 27% compared with 2008, this country was still doing fine in the global financial crisis. This country has stable economy, and relatively lots of trained people with low wages. So I believe Morocco will play a key role in Africa and southern Europe area.
Wednesday, November 9, 2011
The U.S-South Korea Free Trade Agreement
People began to talk about The U.S - South Korea Free Trade Agreement 5 years ago in the Bush administration. However, the final agreement was finally signed last month by President Lee and President Obama. It is interesting to think about why it took so many years.
In my opinion, the automobile industry played a significant role here. As we know, the Korean automobile manufactures is growing so fast for the last several years. So the Union of the U.S automobile employees is worrying about losing more jobs. That is why they hired so many people in D.C for lobbying.
However, the agreement was approved anyway. It is because this free trade agreement is also good for the United States. As a trade partner and a military alliance, the South Korea imports billions of products from America. When the agreement finally gets effective, the reduction of Korean tariffs will add $10 billion to $12 billion to the U.S every year. So for the greater good, the United States government decided to pass the agreement. In the agreement, the Koreans promise to cut the tariff of automobiles from 8% to 4% immediately. At the same time, they will remove the tariff of that in 5 years. As a return, the United States will remove the current 2.5% automobile tariff in 5 years too. This agreement will benefit both the Koreans and the Americans.
Moreover, this free trade agreement will build a model for America to sign similar agreements with other Asian countries. It is quite a remarkable achievement for the U.S government.
In my opinion, the automobile industry played a significant role here. As we know, the Korean automobile manufactures is growing so fast for the last several years. So the Union of the U.S automobile employees is worrying about losing more jobs. That is why they hired so many people in D.C for lobbying.
However, the agreement was approved anyway. It is because this free trade agreement is also good for the United States. As a trade partner and a military alliance, the South Korea imports billions of products from America. When the agreement finally gets effective, the reduction of Korean tariffs will add $10 billion to $12 billion to the U.S every year. So for the greater good, the United States government decided to pass the agreement. In the agreement, the Koreans promise to cut the tariff of automobiles from 8% to 4% immediately. At the same time, they will remove the tariff of that in 5 years. As a return, the United States will remove the current 2.5% automobile tariff in 5 years too. This agreement will benefit both the Koreans and the Americans.
Moreover, this free trade agreement will build a model for America to sign similar agreements with other Asian countries. It is quite a remarkable achievement for the U.S government.
Keep the Port of Providence
The Port of Providence has been operated for more than 100 years. It serves the people in the southern New England for a population of one million. Not only for goods and services, the Port of Providence is the only port that provides fuel oil to the residences in Rhode Island. However, the government of Providence City begins to consider zoning changes for the Port of Providence recently. They plan to build condos, restaurants, and hotels in this areas.
First of all, I think I could understand why the City of Providence wants to do that. Several years ago, the Port of Boston had the same situation. They changed the port into a multifunctional place. A lot of people support this idea because less ships means less noises. Moreover, this kind of change could increase local economy, especially for attracting tourists.
However, this plan has some issues. First of all, the Port of Providence is so significant for Rhode Island. It is a deep water port, which means large cargoes could get into the port and upload. Not all the ports in southern New England can do that.This port provides essential energy resources to the state and it is not replaceable. Second, there are a lot of jobs related with the port.Thousand of people in Rhode Island work for the port directly and indirectly. If this plan gets approved, most of them will lose their jobs. It is not a good idea when we are in a recession.
So my suggestion is simple: keep the Port of Providence as a busy working place. And at the same time, as a residence live by the port, I also support the city to make the harbor to be cleaner with less noises.
First of all, I think I could understand why the City of Providence wants to do that. Several years ago, the Port of Boston had the same situation. They changed the port into a multifunctional place. A lot of people support this idea because less ships means less noises. Moreover, this kind of change could increase local economy, especially for attracting tourists.
However, this plan has some issues. First of all, the Port of Providence is so significant for Rhode Island. It is a deep water port, which means large cargoes could get into the port and upload. Not all the ports in southern New England can do that.This port provides essential energy resources to the state and it is not replaceable. Second, there are a lot of jobs related with the port.Thousand of people in Rhode Island work for the port directly and indirectly. If this plan gets approved, most of them will lose their jobs. It is not a good idea when we are in a recession.
So my suggestion is simple: keep the Port of Providence as a busy working place. And at the same time, as a residence live by the port, I also support the city to make the harbor to be cleaner with less noises.
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