Abstract
The increasing globalization agenda of the world has deepened dialogue between African and Asian countries. The first of such dialogue was held in Phnom Penh, Cambodia between African and Asian experts and Parliamentary leaders on issues of poverty, economic growth and governance. Beneath the emergent Africa-Asia dialogue is the “rotten” animal instinct, which drives one party to use brains or brawn to take what should be (could be) the other party. China, for example, has lent $3 billion loan financing arrangement to gain secure access to the recent oil funds from the governments of Ghana just as it was provided in Brazil, Venezuela, Ecuador and Argentina who have both previously defaulted. The study explores the globalization–rich-poor dialogue nexus to investigate the good, the bad and the ugly side of it in Ghana. It then examines the implications of Ghana-China dialogue on economic growth. Together with other secondary data analyzed, it was found out that offering aid without preconditions, China –Ghana dialogue has presented an attractive alternative to conditional Western aid, and gained valuable diplomatic support to defend its international interests. However, activities of some of the Chinese companies are gradually taken the good side of the policy. The implications of China-Ghana policy dialogue is therefore a mixed blessing and that the consequences on most teething local organizations are likely to prove deleterious if laws protecting these organizations are not enforced by policy makers. Key words: Globalization, Africa-Asia dialogue, economic growth, China, Ghana.
Highlights
As countries develop and approach industrialized nation status, inward effective dialogue between them and developed countries can significantly contribute to their further integration into the global economy by engendering and boosting foreign trade flows leading to economic growth
While the existing literature uncritically adopts local anti‐Chinese discourses and fails to unveil the good side of such activities in Ghana, the current paper provides a comparative perspective on the good, the bad and the ugly side of the commercial activities related to China trade in Ghana
The study has revealed that due to the emergent dialogue between China and Ghana, China‟s total investment towards the growth of the organizations and the economy at large increased steadily from 0.53 to 18.45% in Ghana over the past six years which is an opportunity for the organizations in Ghana (Table 1)
Summary
As countries develop and approach industrialized nation status, inward effective dialogue between them and developed countries can significantly contribute to their further integration into the global economy by engendering and boosting foreign trade flows leading to economic growth. They include the development and strengthening of international networks of related organisations. The aim of the China-Ghana dialogue is to give China the needed platform to help Ghana develop strategies to leverage the current export explosion to create opportunities for longterm socio-economic benefits. The dialogue is to help Ghana develop by sharing valuable experience and building much-needed capacity, and by supporting. African organizations are worse-off through the operations of some Chinese investors according to a careful array of economic, social and governance variables. The paper concludes with implications for Ghana‟s economic policies, for multilateral lending institutions, and for international and local non-governmental organizations
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