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Jakarta Post

US Chapter 11 and its impacts for Indonesia’s market

  • Putu Surya Resa Aditya and Jessica Callista

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Jakarta   /   Thu, September 10, 2020   /  11:53 am
US Chapter 11 and its impacts for Indonesia’s market Stuart Malcolm, a doctor with the Haight Ashbury Free Clinic visits homeless people to talk about coronavirus (COVID-19) on the street in the Haight Ashbury area of San Francisco California on March 17, 2020. - The coronavirus took a bite out of US retail sales in February, government data released March 17, 2020 showed, with almost all sectors falling and fuel sales leading the decline.The data are the latest in the growing body of evidence of the virus' economic toll, but the survey was taken before the outbreak spread across the United States and put entire counties on lockdown, which has led many economists to conclude the US is likely heading into recession. (AFP/Josh Edelson)

The COVID-19 pandemic has tormented the world for almost 10 months. Significant aspects of our lives have been impacted, and, despite being social creatures, we have been forced to keep physical distance from each other, which has ultimately hindered our social and economic activities. The unforeseen force of COVID-19 has rattled the world’s major economies, from China to the United States, Europe, Australia and many more developed and developing countries. It is difficult to avoid the domino effect of economic recession, as we are all in this challenging situation together, and our business activities are all intertwined. Indonesia is on the edge of an economic recession as well, with the threat of imminent recession expected to be detailed in its upcoming third quarter report. The threat is vivid, as many of Indonesia’s country partners are struggling with economic...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.