The advent of the currency war has impacted Indonesian financial markets with the value of the rupiah dropping more than 2 per cent since the trade negotiations earlier this month. I think there is a factory expansion in every quarter following the trade war.
China Shocked By Us Actions In Trade Dispute War Trading Make Business
Let them trade war.
How trade war affect indonesia. In a global economy a trade war can lead havocking to the consumers and businesses of both nations and the effect can grow to affect many aspects of both economies. The biggest concern of Indonesia regarding the US-China trade war is Indonesian market will flood with Chinese or American products. Jakarta ANTARA News – A China-the United States trade war will affect Indonesias exports Head of the International Relations Department Faculty of Social and Political Sciences University of Indonesia FISIP UI Evi Fitriani said.
The downside risk to Indonesias trade performance will also be considerable as full-scale trade war threatens to reduce GDP growth in China and United States which directly accounts for 242 of Indonesias export value in 2017. The US is currently reviewing Indonesian products on its Generalized System of Preferences GSP list a trade incentive that gives duty-free entry to 129 poor and developing countries and territories. Indonesia Starts to Benefit From US-China Trade War Business Lobby Says.
TEMPOCO Jakarta – The Investment Coordinating Board BKPM said that the US-China trade war positively affected the Indonesian economyOne of the ways was through relocation investment or factory expansion in Indonesia. That is the continuation of the past policy yes. Indonesian textile garment and tire manufacturers are benefiting from the ongoing trade war between the United States and China leading to optimism that Southeast Asias largest economy may overcome global economic turbulence expected next year.
In April 2017 the US administration put Indonesia on its trade watch list along with 15 countries as the former had suffered a significant deficit and aimed to step up its measures against trade imbalance. Jakarta ANTARA News – Indonesias chief economic minister Darmin Nasution said the country will not be directly affected by the US-China trade war. According to Darmin every policy must have a negative and positive impact.
Coordinating Economic Minister Darmin Nasution has stressed that the trade war between China and the United States has badly affected and will continue to affect Indonesias exports as both. Last year Indonesia ran a 97 billion trade surplus out of its total 17 billion exports to the US. In terms of direct impact the US-China trade war is creating uncertainties to global growth and in particular any decline in Chinas growth is likely to hit Indonesia and other ASEAN countries.
Indonesia posted a 967 billion surplus from its trade with the US in 2017 a 93 per cent increase in year-on-year calculation according to data from the Trade Ministry. First Indonesia is expanding its export volume and markets. Sanny Iskandar deputy of regional economic development at the Chamber of Commerce Kadin said China may turn its eyes on Indonesia as a major export destination as they have lost the American market.
In fact Nomura feels that Indonesia will be negatively affected by the trade war as China is its largest trading partner and a slowdown in China could hamper its economy. These trade risks along with rising interest rate and drop in FDI to Indonesia will put pressure. Despite being active in multilateral forums to achieve global common goals Indonesia also has several national strategies towards managing the trade war impacts.
Basically we must not rush to a conclusion because it will be them who will be affected he said on Friday. TEMPOCO Jakarta – The ongoing trade war between the United States and China is estimated to affect trade climate in Indonesia. So the impact to Indonesia is not always negative Darmin said in Jakarta not long ago.
This is due to Chinese products that could not enter Americas market will automatically go to the other country and Indonesia is one of the countries that potentially being market targeted. For Indonesia the positive impact is can get cheap goods from China. A trade war might proffer short-term advantages and much-needed growth to the domestic sector by boosting job creation.
Faced with escalating global trade tension Indonesia has adopted a strategy to minimise the risks and optimize the benefits. Hence our effort aims to stabilize the domestic economy so it is not only exports but our domestic consumers can grow into new markets he added. Meanwhile the indirect impact of the trade war is the value of Indonesias raw material exports to China that declined due to weak industrial production of the country.
Escalating Trade War Impacts on Indonesias Commodity Prices Earlier this week US President Donald Trump announced plans to impose 10 percent import tariffs on USD 200 billion worth of Chinese export products by 30 August 2018 thus further escalating the trade war between the USA and China. Most of Chinese raw materials are imported from Indonesia.
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