Globalization Consequancess on Jordan Case Study

Globalization Consequancess on Jordan - Case Study instanceBy 1994, participants to the Uruguay Round of the treaty abide totalled 123 countries. By 1995, the World Trade Organization (WTO) was incepted, becoming the re transmitment of the GATT. Currently with 153 countries as members of the WTO, the organisation embodies the implementations of the liberalisation of trade among nations, encouraging economies of its member nations to open up to global markets. Smaller and emerging economies of the 3rd world and exploitation countries have very often expressed stand firm over issues on matters where the sheer size and volume of trade from the direction of the to a greater extent developed economies have disadvantaged the former than worked fairly in everyones favour. Jordan signed up with the WTO in April, 2000.Small scale industries orbit was a major contributor to the industrial economy of Jordan. It accounts for 50% of the total manufacturing field, has 20% share in exports and provides 80% of employment in industrial sectors(Lozi, p.98) On account of this frugal reality in Jordan, the pocketable scale industry (SSI) sector is a significant indicator of the personal effects of globalization of trade. Since the early 1990s, the SSI sector of Jordan has already found itself in the competitive situations induced by international trades open market environments. In a study by Basem Mohammed Lozi of the Amman College for Administrative and Financial Sciences, Al Balga Applied University in Jordan, the effects of such pressures from international competition has actually favoured the SSI sector. He writes, Liberalization have forced all industries to eternally upgrade their quality while cutting down the costs if they want to remain and retain their place and share in the global market. Small scale industries world over including Jordan were facing the on disregard of the adverse effects of globalization in the stringent requirements of quality costs, ti ght delivery schedules and productivity.(Lozi, p.98) Apparently, like most, if non all small scale industry sectors the world over, globalisation has become challenge to shape up in the face of international competition and demand of stricter parameters of business and trade. Unlike many in the developing economies that merely suffered on account of their inability to cope, Jordan, however, rose to the challenge. Lozi concludes, This has resulted in more growth in its donation to national income and exports in the 1990s.(Lozi, p 102) Nevertheless, Lozi recommends strategic directions for Jordan Concerted efforts are needed both from the government and more importantly, from small scale industries themselves to imbibe technological dynamism into Jordanian small scale industries. Technological up gradation and in-house technological innovations and promotion of inter-firm linkages need to be encouraged consciously and consistently. (Lozi, p 102)Globalisation and the Jordanian Societ yGlobalisation is not only the organised and structured pressures to open local trade and economic circumstances to international markets and