As the Covid-19 crisis spreads to new epicenters in Asia, Europe, and the U.S., companies are scrambling to mobilize responses and that is affecting many businesses across the globe.
Due to the unpredictability of disease dynamics, some vital industries in China that supply goods and services to Africa have suspended business since the outbreak began in late January.
This, according to a senior lecturer from the Department of Finance, University of Ghana Business School is a ‘blessing in disguise’ and a wakeup call for Ghana.
Dr. Lord Mensah who was speaking in an interview with NEAT FM’s morning show Ghana Montie explained that the unanticipated suspension of trade between Ghana-China should be seen as an opportunity for Ghana to produce items in large quantities and patronize made in Ghana goods.
“Over the years, we [Ghana] have relied on China for the supply of goods and services. The outbreak of the virus has had an impact on top business and it’s worrying. Now globally they are not in a good standing and this will affect smaller countries like Ghana.”
“If the biggest economies in the world are collapsing, then we have to be on the alert,” he cautioned.
He advised that “For now that Ghana is shutting down big factories, this is going to affect our economy. We have to start manufacturing on a large scale and use made in Ghana products. We can’t always depend on others to survive.”
Source: King Edward Ambrose Washman Addo/Peacefmonline.com/Ghana
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Indeed, this epidemic is a lesson to us and the nations of the world. Over-reliance on China for goods and services will plunge the world into chaos if China goes down. Prices of goods are going up because we have discouraged local manufactuering in favor of importing from China. If we don't manufacture our own goods, we stand a chance of collapse should something go wrong with other countries. A lesson indeed for Ghana.
Yes the lecturer is right. We have survived despite the incessant importation from China so why can't we continue. It means we were bringing too much waste from China into the country. We do not havr to import Chinese rice into the country as we have even good quality rice.
Me too. I hope import from China will seize ASAP and focus on Ghana rice. after all all those rice from China is poison anyway.
I said the same thing when I first heard about coronavirus.