Ghana can now pay China directly. No US dollar needed. Here's what's missing!
ToonTum Network
9,152 views
Ghana and China have been strengthening financial and economic cooperation, including mechanisms that can make direct trade and settlement in Chinese yuan more practical. But while headlines about “no US dollar needed” sound significant, there are important details that should not be overlooked.
In this video, we examine what this development could mean for Ghana-China trade, the Ghanaian cedi, the Chinese yuan, US dollar dependence, foreign exchange reserves and Ghana’s broader economic sovereignty.
Could greater use of the yuan reduce pressure on Ghana’s demand for US dollars? Could it make trade with China more efficient? And what are the limitations and risks that Ghana needs to consider?
We also look at the bigger question: Can African countries gradually reduce their dependence on the US dollar while strengthening trade among themselves and with major global economies?
20 Comments
They just made it easier
I think otherwise,
Ghanaians will have access to the china market and china will have access to Ghanaian market in the simplest form
I agree that we have to buy machines for job creation in our country
On a second thought:This feels like an economic shift.. jobs swinging from point A to point B and so the world is changing and people are adjusting
Again,for dress making, our Tailors are only good in African attaire 😂. How many of us prefer that? We prefer t- shirt and sporty clothes and you can buy many of them at once.
It looks out good but at the backend our local economy is gonna bleed!!
Ghana can now pay China directly. No US dollar needed. Here's what's missing!
ToonTum Network
9,152 views
Ghana and China have been strengthening financial and economic cooperation, including mechanisms that can make direct trade and settlement in Chinese yuan more practical. But while headlines about “no US dollar needed” sound significant, there are important details that should not be overlooked.
In this video, we examine what this development could mean for Ghana-China trade, the Ghanaian cedi, the Chinese yuan, US dollar dependence, foreign exchange reserves and Ghana’s broader economic sovereignty.
Could greater use of the yuan reduce pressure on Ghana’s demand for US dollars? Could it make trade with China more efficient? And what are the limitations and risks that Ghana needs to consider?
We also look at the bigger question: Can African countries gradually reduce their dependence on the US dollar while strengthening trade among themselves and with major global economies?