Answer to Question #119208 in Macroeconomics for Naafu Peter

Question

Covid-19 pandemic has significantly reduced international trade of all the countries in the world.
a). Discuss the pros and cons of the above statement for a major importing country like Ghana.
b). Proffer solutions to the problems you have suggested in part (a).

Answer 1

-Covid-19 pandemic it has caused the drop in imports and the shortages of basic consumer goods imported from china have increased inflation.

-It has affected those traders who rely on importation of products as their livelihood.

The following are the possible solutions;

• Boost confidence in trade and global markets by improving transparency about trade related policy actions and intentions.
• Even in the midst of the crisis think beyond the immediate.
• Keep supply chains flowing,especially for essentials such as health supplies and food.