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illustration. (CNN Indonesia / Hesti Rika).
US Influence, Japan-South Korea Trading War is Only Temporary
Jakarta, Indonesia - According to Senior Deputy Governor of Bank of Indonesia, Mirza Adityaswara, Japan and South Korea's trading war is temporary and will soon stop when the United States and China trading war ends as well.He predicted the US-China trading war will slow down ahead of the US election and completely stop after the US election in November 2020. This is because the condition was deliberately created by US President Donald Trump to fulfill all his political rhetoric during the past campaign period as he always prioritize US interests in the business and economy.
However, Mirza wants Indonesia to focus on utilizing economic opportunities that can be obtained instead, for example, to capture investments coming out of China, rather than wondering when each country's trading war will stop either this year or next year.
He also said that as an import substitution country for the US, Indonesia must be active in the investment law, for example, with bilateral agreements, and the execution, coordination of the center and the regions must be done immediately.
Apparently, this is important to do in order to encourage economic growth in Indonesia with the US no longer took the trading deficit of its trading partners, especially China, and the reduction of migrant workers from Mexico. This affected the national central bank in Indonesia as well, as the pace of the economy begin to slow down these days.
Source: https://www.cnnindonesia.com/ekonomi/20190724142836-532-415081/bi-sebut-perang-dagang-jepang-korsel-bersifat-sementara
