Thursday 19 February 2015
Sunday 14 July 2013
GLOBALISATION AND GHANA
Globalisation
is serving as a catalyst for global economic transformation. The International
Monetary Fund (IMF) view globalisation as a process by which a persistently
free flow of ideas, people, goods, services and capital leads to the execution
of economic and social objectives.
This
paper seeks to examine the scale of globalisation and its impact on the
Ghanaian economy. The pace at which the government of Ghana is putting in place
policy guidelines to enable businesses maximise the essential benefits and
opportunities there are to overcome the constraints posed by the globalisation
phenomenon.
Globalisation
has come with a soaring rate of free movement of labour, ideas, goods and
capital across national borders that has consistently led to the increase in
transforming economies and societies generally.
Globalisation
is seen as an age old phenomenon dating as far back as 1800. The current wave
of globalisation is a different phenomenon if one considers it against certain factors
such as the development of information and communication technology.
The
development of information and communications technology has made
transportation and communication cheaper in diverse ways – goods and services
are now easy to access.
The
current wave of globalisation can be depicted in the growing number of
cross-border trade in goods, services and capital particularly Foreign Direct
Investment (FDI) which has increased in the post World War I. This however
prompts growth in global trade with production firms located in foreign
countries leading to expansion in the economies of the domestic countries.
According
to an IMF report Ghana and Botswana are among the fastest growing countries in
Africa with an impressive record of sound macroeconomic policies and good
governance which has moved the economies to the low middle income bracket. The
economy of Ghana has the backing of its mineral deposits such as gold and
diamond which are the engine of economic development.
Globalisation
is transforming the world economic outlook and for that matter the lifestyle of
people. The arguments that fathom this concept are copious and overflowing for
countries. The current pace of globalisation with us is unique and the speed
and intensity of political, economic, social and technological forces has
collided to create it. It has renewed wave of people, commerce and capital
throughout the global economy and powered by the creation and transformation of
markets, jobs and industries across the world.
Globalization is a phenomenon that
has overtaken larger part of the world we live in today. A look at the
depths of the most remote village to the world’s biggest cities, the effects of
globalization are crystal clear as anything. However, this paper aims to
address the issues that globalization presents for countries in West Africa;
more specifically, Ghana. To fully understand the situation of Ghana, we
must look at the meaning of globalization and what it represents to Ghana and
the Ghanaian people. Afterwards, we must examine the foreign direct
investment that is flowing into the country and then finally inspect the annual
food production rates, exports of goods and services as well as the GDP growth
rate.
Globalization is a process of
interaction and integration among the people, companies, and governments of
different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.
The experience gathered from the reversal to
protectionist policies during the interwar period gave an impetus to a new wave
of internationalism after the Second World War. The new wave of trade
liberalization was, however, more selective both in terms of countries
participating and products included. By 1980, developed countries’ barriers to
trade in manufactured goods had been substantially removed, but barriers for
developing countries' agricultural products had been lowered only for those
primary commodities that did not compete with agriculture in the developed
countries. By contrast, most developing countries had erected trade barriers
against imports from each other and from developed countries.
The resulting effect on trade flows was very
uneven. For developed countries, the second wave of globalization was a
spectacular success. Freer trade between them greatly expanded the exchange of
goods. For the first time, international specialization within manufacturing
became important, allowing scale economies to be realized. This helped to drive
up the incomes of the developed countries relative to the rest of the world
(World Bank, 2001e). For developing countries, it perpetuated the North-South
pattern of trade, i.e. the exchange of manufactures for land-intensive primary
commodities, and this impeded them in exploiting their comparative advantage in
labour-intensive manufactures. In addition, as discussed below, many developing
countries adopted a policy approach that was not conducive to a greater
integration into the globalizing world economy.
According to Africa development
bank report, Ghana’s Gross domestic product (GDP) growth decelerated from 14.4%
in 2011 to 7.1% in 2012. The economic growth peak in 2011 was due to the
start-up of oil production in the last quarter of 2010. The growth performance
in 2012 was achieved despite lower cocoa and oil production. Ghana’s
medium-term outlook remains healthy, with projected GDP growth of 8.0% (6.5%
non-oil) in 2013 and 8.7% (8.9% non-oil) in 2014, well above the average annual
growth rate of 6.5% for the period since 2000. Investments in the oil and gas
sectors, public infrastructure and commercial agriculture are expected to drive
this growth.
Improved macroeconomic management
and enduring political stability have not significantly transformed the
structure of Ghana’s economy over time. Mining and construction have sustained
the industrial sector, while manufacturing has been declining as a share of GDP
over the past 20 years. The country needs to develop new, labourintensive
economic sectors such as manufacturing and agro-processing in order to tackle
the employment challenge and provide economic opportunities to rural areas.
This will require coherent public policies to raise agricultural yields,
improve the competitiveness of the economy and overcome land tenure issues.
Decisions on how to spend the country’s increasing oil revenue, projected at
several billion US dollars (USD) over the next two decades, will be crucial to
future economic transformation. The increased oil revenue and foreign direct
investment (FDI) inflows may result in strong upward pressure on the exchange
rate and threaten prospects for industrialisation. In 2010, Ghana enacted a
legal framework for sound management of its oil wealth, and thus far its
programme of hedging oil imports and exports has succeeded in maintaining macroeconomic
stability.
Although
Ghana has been classified as a low middle-income country by the World Bank
since 2010, its development indicators compare poorly with those of most
countries in this category. Ghana has made significant progress towards attaining
the Millennium Development Goals (MDGs). It is likely to attain the MDGs on the
eradication of extreme poverty, universal primary education, promotion of
gender equality, empowerment of women, and combating HIV/AIDS, malaria and
other diseases. Ghana continues to be challenged by slow progress on reduction
of under-5 mortality, improvement of maternal health and environmental
sustainability.
According to a World Bank report, Ghana’s economy
is growing ahead of the average for the Africa region, with gross domestic
product (GDP) growth at eight percent in 2010, 14.4% in 2011, and is expected
to be around seven percent for 2012, prompted by strong cocoa production,
construction and transport, continued increased gold output and the
commercialization of oil. Inflation eased to 8.8% in December on the back of
declining food price inflation, but producer price inflation is at 17%.
In the period 2009-2011, Foreign Direct
Investment (FDI) flowed in to the tune of US$3 billion per year. The current
account deficit moved between seven and eight percent of GDP in the 2009-2010
period, but rose to 9.8% of GDP in 2011 and is expected rise further in 2012.
Source:
http://www.worldbank.org/en/country/ghana/overview
There
a lot a of controversies surrounding the term globalisation, however,
Proponents of the concept argue that it allows deprived countries and their
citizens to achieve economical development and raise standards of living.
Opponents of globalisation posit otherwise that the creation of an unfettered
international liberal market system has benefited multinational corporations in
the Western world to the detriment of local enterprises, local cultures, and
common people. Resistance to globalisation has therefore taken shape both at a
popular and at a governmental level as people and governments try to manage the
flow of capital, labour, goods, and ideas that constitute the current wave of
globalisation.
In
conclusion it must be emphasised that Ghana’s economic development has
benefited in a large part due to internalisation and free trade system. The
current wave of globalisation where oil companies have sunk their equipment and
other resources has seen the whole nation smiling because the future looks
bright for a nation discovering oil at this time.
Friday 28 December 2012
Difference Between Love And Infatuation
However, in search of love, many
have been misled. As a result, I have made inroads into finding the difference
between love and infatuation. My search has the following:
Difference between love and
infatuation by:
Naghina:
Are you really in love? Or do you
think that you are in love?
There is a big difference between Love and infatuation. Some people can't tell the difference, thinking they are in love but really it is a deep infatuation. Infatuation is instant desire - one set of glands calling to another. Love is friendship that has caught fire. It takes root and grows; one day at a time. Infatuation is marked by a feeling of insecurity. You are excited and eager, but not genuinely happy. There are nagging doubts, unanswered questions, little bits and pieces about your beloved that you would just as soon not examine too closely. It might spoil the dream.
Love is the quiet understanding and mature acceptance of imperfection. It is real. It gives you strength and grows beyond you - to bolster your beloved. You are warmed by their presence, even when they are away.
Miles do not separate you. You have so many wonderful little films in your head that you keep replaying. But near or far, you know they are yours, and you can wait. Infatuation says, "We must get married right away. I can't risk losing them."
There is a big difference between Love and infatuation. Some people can't tell the difference, thinking they are in love but really it is a deep infatuation. Infatuation is instant desire - one set of glands calling to another. Love is friendship that has caught fire. It takes root and grows; one day at a time. Infatuation is marked by a feeling of insecurity. You are excited and eager, but not genuinely happy. There are nagging doubts, unanswered questions, little bits and pieces about your beloved that you would just as soon not examine too closely. It might spoil the dream.
Love is the quiet understanding and mature acceptance of imperfection. It is real. It gives you strength and grows beyond you - to bolster your beloved. You are warmed by their presence, even when they are away.
Miles do not separate you. You have so many wonderful little films in your head that you keep replaying. But near or far, you know they are yours, and you can wait. Infatuation says, "We must get married right away. I can't risk losing them."
Love says, "Be patient. Don't
panic. Plan your future with confidence."
Infatuation has an element of sexual excitement. Whenever you are together, you hope it will end in intimacy.
Love is not based on sex. It is the maturation of friendship, which makes sex so much sweeter. You must be friends before you can be lovers. Infatuation lacks confidence. When they're away, you wonder if they're cheating. Sometimes, you check.
Love means trust. You are calm, secure and unthreatened. They feel your trust, and it makes them even more trustworthy. Infatuation might lead you to do things you will regret, but love never steers you in the wrong direction.
Love is an upper. It makes you feel whole. It completes the circle. It fills the empty space in your heart. Love is elevating. It lifts you up. It makes you look up. It makes you think up.
It makes you a better person than you were before. If you have love in your life, it can make up for a great many things you don't have. If there is no love in your life, whatever else there is has a lot less meaning. The secret of our being is not only to live but to have something to live for.
INFATUATION
Infatuation is a feeling; real love involves a commitment also. Infatuation is just love of emotion. Real love, though, is love of devotion. Only the emotions are affected in infatuation, but in real love both the emotions and the will are involved. Next, a person "fall into" infatuation, but "grows into" real love.
Guys, have you ever seen a girl who was so beautiful that you thought you'd faint?
This is infatuation! It is based totally on physical attraction. Often you don't know much in-depth about the person you so-called love. Thus, infatuation is mostly biological. Also remember; never tell a girl you love her, unless you are willing to marry her. Then, infatuation is basically selfish where real love is basically selfless. Infatuation is more interested in satisfying yourself and the feeling than it is in the other person.
Real love is primarily interested in the other person. It seeks to give instead of get. Love unselfishly seeks the highest good for the other person. Lastly, infatuation is weakened by time and separation where real love is strengthened by time and separation. This does not mean that there will be no pain in separation. On the contrary, there is great pain in separation if you are truly in love.
LOVE
Now you know what is infatuation, we will go on to discuss about the details of a true love. Love is patient. The word translated "patient" means to wait patiently for the fulfilment of expectations.
When you have difficulty dating this girl and she does not want to come out, if you truly love her, you will not complain and blame her, you must look at the situation from her point of view - maybe she is having some problems which prevented her from coming out. You must react to it with patience and understanding.
Next, have you ever met someone you liked so much that you wanted to push the relationship and make it progress faster? Sure you have! Love, however, is willing to give a relationship time to grow at a natural pace.
It does not push but is willing to wait for the relationship to grow at a rate that is satisfactory to both parties.
Love is Kind Love seeks to encourage and build up others. It respects the feelings and emotions of others...
It finds its greatest satisfaction in making others happy.
You can do the following:
1. Give one another things such as gifts and encouragement cards.
2. Compliment one another. Magnify the other party's strength.
3. Listen to one another. Pay close attention to what each of you has to say and make each other feel that what each says is important.
4. Treat one another special in public. Compliment and encourage one another sincerely in the presence of others.
5. Love is Not Jealous. Jealousy usually indicates an insecure and immature heart. Love wants the best for others, but jealousy is possessive. Jealous is reflected in the childish statement, "If he is going to talk to her, then he can just forget
about me!" Often, one person wants to totally possess the other and to restrict her relationships with others.
6. Love is not about bragging. Love is not a windbag and is not anxious to impress. Often a guy will brag to a girl, trying to impress her so that she will like him. A truly great person, however, does not need to exalt himself! Others will exalt him.
7. Love is not Arrogant. Love is not conceited, boastful, cocky, or stuck-up. Love, instead, is humble and has a servant attitude. Sometimes, a guy may come across to a girl with an "I can take you or leave you" attitude. His demeanour implies, "You ought to be thankful that somebody as neat as me is dating you." Of course, this is not love.
8. Love always covers. This word cover means to pass over in silence, to keep confidential.
9. Love is patient with the faults of others. It doesn't criticise and broadcast to the world the faults of others.
Love is there even when it knows the other is not perfect.
10. Love always perseveres. Love always stands its ground and hold out. It will outlast anything. It will even love in the face of unrequited love. Real love will last though all sorts of trials, tribulations and stresses.
11. Love is Not Provoked. This means that love has a long fuse. It does not become irritated and angry. It is not easily offended.
12. Love does not seek its own. This is the heart of love. Love is other-centred rather than self- centred. Love says, "I love you, I want to give to you." Selfishness says, "I love you, I want you!"
13. Love does not act unbecomingly. This means that love does not behave disgracefully, dishonourably or indecently. It does not embarrass others by its action. It is characterised by tact and sensitivity. This also means that love should have good manner. Be sure to do little things like opening doors for your girl, or offering her your arm when you walk together.
14. Lastly, Love is forgiving. This is a MUST for a successful love story. If a guy is not willing to forgive and forget when his girlfriend is one hour late, he is not exhibiting love. Love doesn't hold grudges when it has been
wronged. It doesn't remain resentful.
** Remember this: Love forgets past failures and sins.
Infatuation has an element of sexual excitement. Whenever you are together, you hope it will end in intimacy.
Love is not based on sex. It is the maturation of friendship, which makes sex so much sweeter. You must be friends before you can be lovers. Infatuation lacks confidence. When they're away, you wonder if they're cheating. Sometimes, you check.
Love means trust. You are calm, secure and unthreatened. They feel your trust, and it makes them even more trustworthy. Infatuation might lead you to do things you will regret, but love never steers you in the wrong direction.
Love is an upper. It makes you feel whole. It completes the circle. It fills the empty space in your heart. Love is elevating. It lifts you up. It makes you look up. It makes you think up.
It makes you a better person than you were before. If you have love in your life, it can make up for a great many things you don't have. If there is no love in your life, whatever else there is has a lot less meaning. The secret of our being is not only to live but to have something to live for.
INFATUATION
Infatuation is a feeling; real love involves a commitment also. Infatuation is just love of emotion. Real love, though, is love of devotion. Only the emotions are affected in infatuation, but in real love both the emotions and the will are involved. Next, a person "fall into" infatuation, but "grows into" real love.
Guys, have you ever seen a girl who was so beautiful that you thought you'd faint?
This is infatuation! It is based totally on physical attraction. Often you don't know much in-depth about the person you so-called love. Thus, infatuation is mostly biological. Also remember; never tell a girl you love her, unless you are willing to marry her. Then, infatuation is basically selfish where real love is basically selfless. Infatuation is more interested in satisfying yourself and the feeling than it is in the other person.
Real love is primarily interested in the other person. It seeks to give instead of get. Love unselfishly seeks the highest good for the other person. Lastly, infatuation is weakened by time and separation where real love is strengthened by time and separation. This does not mean that there will be no pain in separation. On the contrary, there is great pain in separation if you are truly in love.
LOVE
Now you know what is infatuation, we will go on to discuss about the details of a true love. Love is patient. The word translated "patient" means to wait patiently for the fulfilment of expectations.
When you have difficulty dating this girl and she does not want to come out, if you truly love her, you will not complain and blame her, you must look at the situation from her point of view - maybe she is having some problems which prevented her from coming out. You must react to it with patience and understanding.
Next, have you ever met someone you liked so much that you wanted to push the relationship and make it progress faster? Sure you have! Love, however, is willing to give a relationship time to grow at a natural pace.
It does not push but is willing to wait for the relationship to grow at a rate that is satisfactory to both parties.
Love is Kind Love seeks to encourage and build up others. It respects the feelings and emotions of others...
It finds its greatest satisfaction in making others happy.
You can do the following:
1. Give one another things such as gifts and encouragement cards.
2. Compliment one another. Magnify the other party's strength.
3. Listen to one another. Pay close attention to what each of you has to say and make each other feel that what each says is important.
4. Treat one another special in public. Compliment and encourage one another sincerely in the presence of others.
5. Love is Not Jealous. Jealousy usually indicates an insecure and immature heart. Love wants the best for others, but jealousy is possessive. Jealous is reflected in the childish statement, "If he is going to talk to her, then he can just forget
about me!" Often, one person wants to totally possess the other and to restrict her relationships with others.
6. Love is not about bragging. Love is not a windbag and is not anxious to impress. Often a guy will brag to a girl, trying to impress her so that she will like him. A truly great person, however, does not need to exalt himself! Others will exalt him.
7. Love is not Arrogant. Love is not conceited, boastful, cocky, or stuck-up. Love, instead, is humble and has a servant attitude. Sometimes, a guy may come across to a girl with an "I can take you or leave you" attitude. His demeanour implies, "You ought to be thankful that somebody as neat as me is dating you." Of course, this is not love.
8. Love always covers. This word cover means to pass over in silence, to keep confidential.
9. Love is patient with the faults of others. It doesn't criticise and broadcast to the world the faults of others.
Love is there even when it knows the other is not perfect.
10. Love always perseveres. Love always stands its ground and hold out. It will outlast anything. It will even love in the face of unrequited love. Real love will last though all sorts of trials, tribulations and stresses.
11. Love is Not Provoked. This means that love has a long fuse. It does not become irritated and angry. It is not easily offended.
12. Love does not seek its own. This is the heart of love. Love is other-centred rather than self- centred. Love says, "I love you, I want to give to you." Selfishness says, "I love you, I want you!"
13. Love does not act unbecomingly. This means that love does not behave disgracefully, dishonourably or indecently. It does not embarrass others by its action. It is characterised by tact and sensitivity. This also means that love should have good manner. Be sure to do little things like opening doors for your girl, or offering her your arm when you walk together.
14. Lastly, Love is forgiving. This is a MUST for a successful love story. If a guy is not willing to forgive and forget when his girlfriend is one hour late, he is not exhibiting love. Love doesn't hold grudges when it has been
wronged. It doesn't remain resentful.
** Remember this: Love forgets past failures and sins.
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