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AGE OF TURBULENCE
Sun, 10/05/2008 5:15 PM | Headlines
Coordinating Minister for Economy Sri Mulyani Indrawati (right) speaking to reporters accompanied by Bank Indonesia governor Boediono (center) and Trade Minister Mari Elka Pangestu (left) after a limited cabinet meeting on Sunday. The meeting discussed measures to weather pressure from the liquidity crisis in the U.S., which would slow down exports, may affect GDP growth and prompt liquidity shortages at home. (JP/J. Adiguna)
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Peter Reaves (not verified) — Mon, 10/06/2008 - 6:45am
I am a wholesaler from the US selling Indonesian silver jewlery to US retailers. I buy jewelry from suppliers in Celuk and East Java. I sell the items at international trade shows, but now I can't get orders because the price of silver in Indonesia is being kept 50% above the world price by the Indonesian government. As a result I am losing my business to Thai and even US silver jewelry manufacturers, who can produce for far less because they buy silver at the correct world market price. I haven't placed any orders with my Indonesian suppliers for two months because of this problem. Indonesians are losing jobs because of this situation.