Question

discuss the positive and negative impact of globalization on Ghanaian business development

Answer 1

Ans ) Positive effect of globalisation on Ghana :

Ghana economy has enjoyed positive effect in last few years such as : 1) fast GDP growth

2 ) expansion and growth in business sector.

3 ) steady but stable economic growth as a result of international trade and globalisation with free trade as a result of globalisation.

4 ) improved efficiency and effective allocation.

Negative effects of globalisation on Ghana economy : ​​​​​

• globalisation level tha playing field , in way that make it hard for developed countries to compete , a country with alower cost structure ( lower wages and benefits for workers , more in expensive coal in its energy mix and more lenient rules on pollution ) is able to out compete a typical OCED country .
• Globalisation sets up a currency race to the bottom , with each country trying to get an export advantage by dropping the value of its currency .
• Globalisation encourage dependence on other countries for essential good and services .
• Globalisation ties countries together ,so that if one country collapse , the collapse is likely to ripple through the system, pulling many other countries with it

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