Professor Lloyd Amoah, Director at the Centre for Asian Studies has cautioned government over its dealings with the Chinese government, saying the Akufo-Addo-led administration must be on high alert so it’s not shortchanged in suchl/ deals with the Chinese government.
“The Chinese are very smart, they know what they want and they can go all out for what they want regardless of the circumstances” he told Kweku Owusu Adjei on Anopa Kasapa on kasapa 102.5 FM.
Ghana and China have signed eight Co-operation Agreements and Memoranda of Understanding, in different sectors of their respective economies.
The Agreements, signed on Saturday after bilateral talks between President Nana Addo Dankwa Akufo-Addo and the Chinese Leader, Mr Xi Jingping, as part of the President’s state visit to China, are aimed at deepening the ties of co-operation and the bonds of friendship that exist between the two countries.
The agreements are the “One belt one road Memorandum of Understanding”, “Memorandum on Regional Aviation Co-operation”, “Agreement for Co-operation in the peaceful use of nuclear energy”, and “Co-operation to carry out Maternal and Child Health Project”.
The rest are “Framework Agreement on Financing Insurance Co-operation” ($2 billion Sino-Hydro deal), “Economic co-operation on Phase 2 project of the University of Health and Allied Sciences, Ho”, “Co-operation on the expansion of the Cape Coast Stadium”, and “Co-operation on the supply of police vehicles to the Ghana Police Service.”
Also government has indicated its decision to issue a century bond in the future aimed at accelerating the infrastructure development of the country.
President Akufo-Addo announced in China on a State visit that government’s economic management team is considering issuing a 50 billion dollar century bond.
“This will provide us with the resources to finance our infrastructural and industrial development. We are hoping that, at some stage, China will interest itself, and take a part of it as China’s contribution to Ghana’s development,” he said.
But according to Professor Amoah, the Chinese, known for their zeal may have an ultimate interest in Ghana`s economy and eventually may place a heavy demand on the country’s economy.
“How come you see such improvement and advancement in the Chinese economy, it’s because their leaders demanded for it to be done, the Chinese will not come and invest here without getting anything back, they will surely make demands on us” he said.
He however, wants the government to prioritize the interest of Ghanaian citizens in its dealings with the Chinese government.