Hon. Kennedy Agyapong has proposed that, he will use the “Asian Miracle Model” to develop Ghana.
The “Asian Miracle Model” also known as “East Asian Model” or “East Asian Miracle” is a common model mostly used by Japan, South Korea, Taiwan, Vietnam, Hong Kong, Singapore, Malaysia, Indonesia, and Thailand.
The main focus of the “Asian Miracle Model” are:
- Stable Macroeconomic environment
- Rapid economic growth
- Significant improvements in the living standards of the citizens
- Low Inflation Rates
- High Savings Rates
- Poverty Reduction
- Stimulation of the growth of the Private Sector
- Creation of Privately owned national champions
- High dependence on the export market for growth.
- Robust Security System
- Effective and efficient management of public natural resources and public lands
- Tourism and Agriculture
- Technology and industries.
- Jobs and Wealth Creation
- Powerful Roads and Transportation Systems
- Physical Infrastructure aims at boosting Tourism
On the other hand, Hon. Bryan Acheampong would also be developing Ghana using the “Mixed Economic Model” or “Mixed Economic System”.
The “Mixed Economic Model” or “Mixed Economic System” is a world class model predominantly used by the United States of America (USA), China, United Kingdom (UK), Germany, India, France, Russia, Sweden, Norway, and Canada.
Currently, the two largest economies in the world are the United States of America with $30.50 trillion GDP, and China with $19.23 trillion.
Dr. Bryan Acheampong, when elected as a President of Ghana will use the economic principles of the United States of America (USA) supported by some economic principles of China, United Kingdom, India, Russia, Germany, Canada, France, and Sweden to completely transform the economy and develop Ghana.
The main focus of the “Mixed Economic Model” or “Mixed Economic System” includes:
- Strong, stable, reliable, and sound Macroeconomic fundamentals.
- Private Sector led growth which have the capacity to generate about 90% of the Country’s GDP.
- Blend of Capitalism and Socialism
- Free Market driven by government interventions for the public good.
- Technology, Innovations, and Artificial Intelligence
- Export-oriented growth
- Business Friendly environment underpinned by effective management of the Exchange Rate, Interest Rate, Inflation Rate, and tax regimes.
- Massive investments into Agriculture, Tourism, Education, Healthcare, and Physical Infrastructure
- Powerful Roads and Transportation Systems.
- High Savings Rates
- Low Inflation Rates
- Low Interest Rates
- Excellent Social Welfare and support systems
- Active Private Sector Participation in the national economy
- Efficient Production and allocation of resources
- Poverty Reduction, and addressing inequalities
- Reducing the risk of monopoly power by allowing fair competition between different sectors and industries.
- Robust Security
- Prudent management of public lands and natural resources.
- Jobs and Wealth Creation.
If the government of New Patriotic Party (NPP) embraces any of these aforementioned models, NPP will not be apologizing to Ghanaians for economic hardships and bad governance in the future.
…. Signed…
Razak Kojo Opoku (PhD)
Founding President of UP Tradition
