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Beijing’s strategy to boost trade relations with countries in the Global South to diversify away from closing Western markets has taken a hit with Indonesia’s announced intention to impose a 100-200% tariff on China’s labor-intensive goods.
JAKARTA/SINGAPORE — Indonesia's President-elect Prabowo Subianto wants to give school children free meals, but the plan and his pledge to be 'daring' on spending have the country's debt and currency markets on edge.
Prabowo and his team have tried to distance themselves from any suggestions of fiscal profligacy, and to assure market participants the incoming government respects the legal debt limits that cap its budget deficit at 3 per cent of economic output.
Priyanka Kishore is the founder and principal economist at research company Asia Decoded in Singapore.
JAKARTA — Indonesia's finance minister "continues to carry out her duties in managing state finances," her ministry said in a statement on Friday (Jan 19), amid reports she may resign from cabinet ahead of the Feb 14 presidential election.