Building Collective Strength
The escalation of the trade war between the United States and China has led to a decline in world trade. As a result, the economic growth of almost all countries has contracted
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A PT D8 Valasindo teller counts US dollar bills on Friday (19/4/2019) at the money changer’s Gandaria City Mall branch in South Jakarta. Based on the Jakarta Interbank Spot Dollar Rate (Jisdor) reference rate issued by Bank Indonesia, the rupiah exchange rate on Thursday, April 18, one day after the election, was recorded at Rp 14,016 per US dollar.
The escalation of the trade war between the United States and China has led to a decline in world trade. As a result, the economic growth of almost all countries has contracted. Turkey has suffered negative growth and is on the brink of a recession, the impacts of which are feared to spread to many other countries.
A recession could also take place in the US and could lead to a global recession. In addition, tension between Iran, the US and Saudi Arabia could trigger a geopolitical crisis in the Middle East. If that happens, a sharp increase in global oil prices would be inevitable.