21:07 20 February 2020
Coronavirus slowdown in China to affect Poland
The expected slowdown of the Chinese economy due to coronavirus problems will also be felt in Poland. This will affect, among others on the situation of entrepreneurs and franchisees, claims Piotr Dmitrowski, market analysis manager at the Research and Analysis Office of Bank Gospodarstwa Krajowego (BGK).
“It is extremely difficult to estimate the scale of this impact. We still do not know how long the problem will persist, how long the epidemic will not be controlled in China. It depends on how much the investment climate may deteriorate. The longer the problems persist, the longer more the investment climate in Poland may worsen,"said Dmitrowski.
The euro area economy is heavily dependent on both exports and imports from China. As a result, Chinese problems will cause distortions in the European industrial sector. For Poland, China is also an important trading partner - the second country after Germany, from which most goods are imported, therefore the supply disruption will affect the domestic economy.
(ISBnews)
