By: Maxwell Woyram Tsigbe
The ๐๐๐ซ๐ข๐๐โ๐๐ก๐ข๐ง๐ ๐๐๐ง๐ญ๐ซ๐ ๐๐จ๐ซ ๐๐จ๐ฅ๐ข๐๐ฒ ๐๐ง๐ ๐๐๐ฏ๐ข๐ฌ๐จ๐ซ๐ฒ (๐๐๐๐๐), a Sino-African research and policy think tank successfully hosted a dialogue forum to explore emerging pathways for strengthening AfricaโChina economic relations, and driving shared development in a rapidly evolving global economy.
The event also featured the official launch of an intercontinental economic development strategy research book titled: โAfrica-China Linkages: Building Deeper and Broader Connections,โ a document which samples Chinaโs economic fortunes and development strategies for the acceleration of African economies.
Held at its ๐๐๐๐๐ ๐๐๐ซ๐ข๐๐ ๐๐๐ฆ๐ฉ๐ฎ๐ฌ in ๐๐๐ฌ๐ญ ๐๐๐ ๐จ๐ง – Accra, the event commenced with a keynote presentation by the co-editor of the landmark IMF publication, ๐๐ซ๐จ๐. ๐๐ฅ๐๐ซ๐๐ ๐๐๐ก๐ข๐ฉ๐ค๐, former IMF Mission Chief for China, and Director of East Asian Institute (EAI) of the National University of Singapore who highlighted thematic areas for rapid economic development of African countries. According to him, the motive behind the publication was to depoliticise the relationship between China and Africa and focus on its economic advantages.
โWhen it comes to the relationship between China and Africa often it is highly politicised and we wanted to bring it back to letโs look at the facts and figures and then we have a serious discussion about where are the potential challenges and where are the opportunities and how we maximise the benefits of this relationship,โ ๐๐ซ๐จ๐. ๐๐๐ก๐ข๐ฉ๐ค๐ noted.
On the theme: โRethinking Africa-China
Economic Futures,โ the forum brought together stakeholders from all sectors including development strategists, policymakers, renowned economists, researchers, and scholars. With this common platform created, participants discussed how Chinaโs relationship with the African continent can inure to the benefit of both parties mutually amid obvious socioeconomic challenges.
The second phase of the event featured a high-level panel discussion between ๐๐ซ๐จ๐. ๐๐ฅ๐๐ซ๐๐ ๐๐๐ก๐ข๐ฉ๐ค๐ and Dr. Samuel Darkwa, a Governance Fellow at the Institute of Economic Affairs (IEA), Accra, who both shed light on the bilateral relations between China and African countries particularly Ghana. The two panelists also took turns to answer thought-provoking questions from the audience.
Professor Schipke underscored the need for dynamic cooperation models in terms of policy alignment, institutional reforms, shared prosperities and responsibilities between China and Africa in areas such as sustainable finance, green development, and digital innovations. He also added that local ownership as the bedrock of the bilateral relation will facilitate a mutual and inclusive growth for both parties.
On the other hand, Dr. Samuel Darkwa complemented the discussion with an expert perspective on governance and local policy. He implored citizens to take keen interest in government policies and offer their views on issues that affect their communities. With this, he believed that the local communities will benefit greatly from any bilateral relations Ghana established with other countries, as well as empower them to hold government accountable.
The book, published by the International Monetary Fund (IMF) also analysed the impact of trade, finance flows and investment on Africaโs economic development. It also detailed how Chinaโs fintech, innovation, green growth and real estate markets will strengthen its relations with Africa.
The forum concluded with calls on African leaders to shy away from unsubstantiated notion of a โChina debt trapโ being implanted in Africa as it lacks empirical data. Instead, African leaders must consider the adaptation of advantageous future policies particularly in macroeconomic management, investment in digital technologies, domestic resource mobilisation, and green infrastructure development.
As theย ๐๐๐ซ๐ข๐๐โ๐๐ก๐ข๐ง๐ ๐๐๐ง๐ญ๐ซ๐ ๐๐จ๐ซ ๐๐จ๐ฅ๐ข๐๐ฒ ๐๐ง๐ ๐๐๐ฏ๐ข๐ฌ๐จ๐ซ๐ฒ (๐๐๐๐๐) remained committed to fostering Chinaโs relationship with Ghana and the rest of the African continent, much of this high-level engagements are expected in the future.