$15bn loan: China not ‘father christmas’ – Tutu

The loans and grants from the Chinese government to Ghana are investments being embarked on by the Asian giant outside its territories, Jason Tutu, Head of Communications for Economic Fighters, has said.

Following a four-day trip to China, Vice President Dr Mahamudu Bawumia announced a package from the Chinese government to Ghana for the mutual benefit of the two nations, with some US$15 billion being injected into Ghana’s economy.

Mr Tutu explained: “Most people are wondering why China continues to pour such huge investments into Africa, including Ghana,” adding: “When your Gross Domestic Product (GDP) begins to plateau or stutter due to high and sustained levels of production over a long while, the logical thing to do is to shift attention to your Gross National Product (GNP), which includes overseas investments as well and that's exactly what China is doing.”

He advised the managers of the economy to study China's overall development plan and dovetail Ghana’s strategy into it such that Ghana does not “go in blindly as we often do but with our own strategy, to sort of develop a shark and remora fish symbiotic engagement with China”.

“This must be a holistic model with an efficient augmentation of any benefits we may accrue from the negotiations with the Dragon of the East,” he added.

He cited countries like South Korea, who have managed to do same with the USA, saying: “We can do it too.”