| The recent media reports that Newmont Gold Ghana ltd. Has been contracted to sink $700 million in gold exploration came as a surprise to many ; the unbridled rivalry of suitors for Ghana's Ashanti goldfields by industrial giants Anglogold and Ranglogold generated a lot of interest; and of course the proposed merger between Guinness Ghana Ltd. And Ghana Breweries Ltd. Confused many industrial analysts. Are these events Ghana's experiences of globalization 'typhoon' sweeping across the globe? Globalization is undeniable capitalist interest process. It has fallen off as a concept in the wake of the collapse of the Soviet Union and of socialism as a viable alternate form of economic organization. The 'revolutionary' policies taken by the government has shown that Ghana is bracing herself to take full advantage of the opportunities presented by the 'global shift'. Smaller firms could be encouraged to export more of their products with the assistance of Ghanaian embassies abroad, trade associations and the Chamber of Commerce. They could serve as information links for smaller firms by publishing leaflets and passing on relevant business information. Also they could help in documentation, translations and other secretarial services. The German economy is only about one quarter the size of Japans and yet Germany is reputed as the world's biggest exporter. In 1990, for instance Germany racked up $241 billion of exports while the US had $394 billion of exports and Japan $286 million. This sequence comes about because smaller firms account for about 30% of exports in Germany relative to 10% and 16% in Japan and U.S. respectively. Highly educated disciplined but relatively cheap labor courts the big firms to engage in off-shore production. Lessons from Asian countries like Singapore, Malaysia, China and others could serve as a guide. Xerox, IBM, Binatone relocated some of their component manufacturing and assembling plants in some of these countries understudy. They were enticed by the comparatively cheaper but highly skilled labor force. The efforts by government to rehabilitate the three main arterial roads leading out of Accra must be commended. Not only that, all means of transportation in all parts of the country must be expanded and developed seriously. Decongestion of the main business district of Accra of human and vehicular traffic should be worked on dispassionately. These will reduce transportation cost and subsequently the cost of doing business in Ghana. Also in this globalization race, beggar-by- neighbor retaliatory trade policies and protection tendencies have no place. Information, communication and telecommunication advancement must be enhanced. Huge amount of data and information are exchanged in this 'race' through the internet. The Ghana Exports Promotions Council announced the establishment of an ICT center [Technology Park] at the free zones enclave to cater for firms that will relocate there. Hopefully as more firms relocate to free zones area and with expansion of the garment and textiles village, there will be managerial and technological spin-off to the smaller firms resulting in efficiency and productivity. Lastly the deepening of democracy is a prerequisite to partake in the 'race'. The enhancement of democratic values in the citizenry must not be taken lightly. If Ghana progressively follows this 'revolution paradigm' she cannot be left out entirely in the globalization race, but may only be left behind. |