Financial analyst and economist Scott Bolshevik has revealed that Thailand is five times better than that of Ghana.
Scott Bolshevik, well known for his constant commentary on issues relating to Ghana on X, stated that both Nations Ghana and Thailand started on the same platform in the 1960s but as things stands now Thailand standard of living is five times better than that of Ghana.
The financial analyst in his post on X cited a lecture in which both countries were compared, the unknown lecturer stated, “Two countries Ghana and Thailand they started 1962 with very similar levels of income in the intervening period Ghana invested more than Thailand in Education, so they accumulated more years of schooling than Thailand. They had the advantage that the education in Ghana was in English which is the lingual franca of the world so makes things easier”.
The lecture highlighted that both Ghana and Thailand in 1962 were very similar, Ghana was doing Cocoa and Thailand Rice and rubber in terms of production patterns.
“In 2010 Ghana added gold, but Thailand completely transformed what they did, they are suddenly making electronics, cars, trucks, chemicals and a bunch of other stuff that was not there before income in the two countries diverge so now Thailand is four and half time richer than Ghana” the lecturer stated.
Scott Bolshevik in his post cautioned that Illegal mining is destroying land and water which threatens Ghana economy and warned Ghana’s situation could be worse in 20 years time.
See his post below:
Tale of Ghana and Thailand
These two nations started on the same platform in 1960s but now Thailand standard of living is 5x that of Ghana
Illegal mining is destroying land and water which threatens Ghana economy, so the situation could be worse in 20 yrs#StopGalamaseyNow pic.twitter.com/xpPv43ZZPL
— Scott (@scottbolshevik) October 7, 2024
