The One Belt One Road Initiative; Possible Implications On West Africa- Ghana,.
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 7
Abstract
The One Belt One Road (OBOR)Initiative which started in the year 2013 is made up of the Silk Road Economic Belt (SREB) and the New Maritime Silk Road (NMSR). It is considered by many as the revival of the former silk route which has existed since the Han and Tang Dynasties. The main aim or objectives of the One Belt One Road (OBOR) initiative is to steam up trade between the People’s Republic of China and other countries most especially with neighboring Asian countries. This paper employs the use of a qualitative research method where through the review of written literature, the possible (future) implications of the one belt one road were discussed. Very little (almost nothing) has been written by other researches concerning the implications of the OBOR initiative on Ghana. This is due to the fact that Ghana has not yet been listed as a part of the OBOR countries. This paper however discussed the possible (future) implications of the OBOR Initiative on Ghana based on the outlined objectives of the initiative, the already existing implications of the Sino-Ghanaian trade on Ghana and the current pressing needs of the Ghanaian people. Some of the speculated or implications of Ghana’s involvement in the OBOR initiative in the near future were measured in terms of its impact on Balance of Payment (BOP), infrastructural development and the creation of employment opportunities. The major negative implication is the worsening of the already existing problem of the redundancy and bankruptcy of local manufacturing industries. The paper however concludes that being part of the OBOR initiative is not an urgent need for the nation Ghana. The urgent need for Ghana now is to focus on how to rely less on foreign aid and to advance and strengthen its domestic economy through local industrialization.
Authors and Affiliations
Georgina Esi Takyi- Annan, Zhang Meiying, Eyram Norgbey
Keywords
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- EP ID EP412209
- DOI 10.9790/487X-2007062832.
- Views 83
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