CIDISS. World Bank President Jim Yong Kim said that Indonesia should always be ready to face the international economic conditions, the possibility of a trade war conducted by a country that has economic power. He said this when meeting President Jokowi at the Bogor Palace some time ago.
President Joko Widodo and World Bank President Jim Yong Kim accompanied by Coordinating Minister for Economic Affairs Darmin Nasution, Finance Minister Sri Mulyani Indrawati, Health Minister Nila F Moeloek, Minister of Education and Culture Muhadjir Effendy and Cabinet Secretary Pramono Anung visited SDN 01 Tangkil to see the the government has been working to overcome stunting.
President Jim Yong Kim also said that Indonesia’s economy is in good condition in terms of fiscal management to debt ratio. He said Indonesia’s economic management should be an example for the world, amidst poor global conditions Indonesia is able to keep its debt to GDP ratio low compared to other developing countries, strong public budget management so that the Indonesian economy is in good condition. Trade war conditions never benefit anyone, because trade is the most crucial element for developing countries to grow better.
US President Donald Trump earlier said it would impose a 25% import tariff for 818 products starting July 6, 2018. The US is targeting 1300 products from China worth USD50 billion to be charged tariffs, the new tariff applies to imports of steel, aluminum from China, as well as potential tariffs addition to automotive and auto parts.
The imposition of tariffs also affects other countries, such as Canada, Mexico and the European Union, on the statement of As raising tariffs on imports, the State State announced plans to reply with a value of about USD75 Billion in tariffs made in American products.
President Kim also expressed his gratitude to Indonesia for welcoming the annual meeting of the World Bank and IMF in Bali in October this year, as this meeting is not only beneficial to the World Bank and IMF but also contributes to boost Indonesia’s economic growth.
By : Rikky.S*)