Ghana’s industrial dream at risk? How the Yuan policy could deepen China dependence

Under a new Bank of Ghana policy, businesses can pay for goods from China directly in Chinese Yuan (RMB), and they can receive payments in Yuan too.

But the trade data tells a more complicated story, and it starts with one uncomfortable fact: Ghana already buys far more from China than it can pay for with what it sells.

That means Ghana bought nearly five dollars' worth of Chinese products for every dollar it sold there.