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Browsing: Production and consumption
[speaker-voice name=”en-GB-Wavenet-A”]
Economies around the world are taking a beating from Corvid-19 as aspects of their production and consumption take a nosedive.
With countries now dependent on each other for trade, sources of raw materials and labour, the coronavirus is bringing an end the approach to doing business globally as we know it. With much more connections through travel, the virus has found a way of stymying growth in several countries- including China, the epicentre of the outbreak- and many others which are still finding ways and means of addressing the challenge.
The worst-hit at this stage are those that depend on goods and services from China.
See: Intra-regional trade could create 2 million new jobs for East Africa
And while Africa is still largely safe from the ravages of the virus, many countries are already feeling the heat since they cannot procure goods from China following the lockdown and …