Dr. Gordon Abekah-Nkrumah, a University of Ghana Business School Senior Lecturer and Health Economist with the Department of Public Administration and Health Services Management has indicated that the coronavirus outbreak in China will adversely affect certain sectors of Ghana's economy. Speaking at the Citi Breakfast Show, he clarified that the country is at a high risk of having a negative net impact because Ghana does not have the capability to produce the products it imports. The virus, that started in the Chinese city of Wuhan, has spread to at least 70 countries resulting in more than 3,000 deaths. To date, more than 90,000 cases have been registered worldwide.
Dr. Abekah-Nkrumah stated that, looking at our relationship with China, our net effect will be negative, given that we import from them. Although one would argue that it will be good for us, most of the items we import from China are items that we do not have the in-house capacity to be able to produce if there is a shortfall. He also mentioned that Ghana’s economy is driven by the trade sector in a significant way. “So, if people are unable to get to China and get their goods it will lead to activities slowing down which will impact household income and local consumption and have a ripple effect on other economic sectors,” added Dr. Abekah-Nkrumah.
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