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” is:
1. Stable Macroeconomic environment
2. Rapid economic growth
3. Significant improvements in the living standards of the citizens
4. Low Inflation Rates
5. High Savings Rates
6. Poverty Reduction
7. Stimulation of the growth of the Private Sector
8. Creation of privately owned national champions
9. High dependence on the export market for growth.
10. Robust Security System
11. Effective and efficient management of public natural resources and public lands
12. Tourism and Agriculture
13. Technology and industries.
14. Jobs and Wealth Creation
15. Powerful Roads and Transportation Systems
16. 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, the 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 the President of Ghana, will use the economic principles of the United States of America (USA), supported by some economic principles of China, the 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:
1. Strong, stable, reliable, and sound Macroeconomic fundamentals.
2. Private Sector-led growth, which has the capacity to generate about 90% of the Country’s GDP.
3. Blend of Capitalism and Socialism
4. Free Market driven by government interventions for the public good.
5. Technology, Innovations, and Artificial Intelligence
6. Export-oriented growth
7. Business-friendly environment underpinned by effective management of the Exchange Rate, Interest Rate, Inflation Rate, and tax regimes.
8. Massive investments into Agriculture, Tourism, Education, Healthcare, and Physical Infrastructure
9. Powerful Roads and Transportation Systems.
10. High Savings Rates
11. Low Inflation Rates
12. Low Interest Rates
13. Excellent Social Welfare and support systems
14. Active Private Sector Participation in the national economy
15. Efficient Production and allocation of resources
16. Poverty Reduction and Addressing Inequalities
17. Reducing the risk of monopoly power by allowing fair competition between different sectors and industries.
18. Robust Security
19. Prudent management of public lands and natural resources.
20. Jobs and Wealth Creation.
If the government of the New Patriotic Party (NPP) embraces any of these aforementioned models, NPP will not be apologising to Ghanaians for economic hardships and bad governance in the future.
…. Signed…
Razak Kojo Opoku(PhD)
Founding President of UP Tradition
