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Tag: global economy

Economy and Finance

Beware, The Fed Predicts Tragedy in the US Economy.

Dark clouds are likely to remain clung to the economy of the United States (US). In fact, recovery is still far away and the economy could shift toward danger. This awful figure was repeated by Federal Reserve Chair Jerome Powell. At the yearly gathering of the National Association for Economics and Business, he said the expansion in crown contaminations was again the fundamental factor. "(The second flood of crown) fundamentally restricts financial movement, also the unfortunate impact on life and prosperity," said Powell, cited from CNN International Wednesday (7/10/2020). "Dealing with this danger as extension proceeds will require master clinical direction, including wearing covers and social separating measures." Powell also asked for more fiscal stimulus. This is important, he s...
Economy and Finance

World Bank: ‘Omnibus Law Cipta Kerja Potential To Harm The Indonesian Economy.’

The World Bank assesses that there are several clauses in the Job Creation Omnibus Law that have the potential to harm the Indonesian economy, which is inversely proportional to the purpose of the draft regulation which is to increase economic growth through investment. This was conveyed by the World Bank in Indonesia's economic report released this July under the title Indonesia Economic Prospects: The Long Road to Recovery. Three points highlighted by the World Bank are clauses on employment, licensing and the environment. "The revision of the Manpower Law in the Work Creation Omnibus Law Bill has the potential to reduce the protection provided to workers," wrote the World Bank in its report, on Wednesday (29/7/2020). According to the World Bank, the latest minimum wage schemes as well...
Economy and Finance

IMF Was Worried Because the World Economy Is Still Horrible

IMF Chief Economist Gita Gopinath voiced pessimism about the current global economic conditions. His side admitted that he was looking for signs of recovery of the global economy, but it was difficult to find them. "Over the course of the year, it has become increasingly difficult to find these bright spots. There is potential for recovery, and we are still looking for it all over the world, but I have to admit it has become increasingly difficult to find them," Gopinath said as quoted by CNBC. The existence of trade tension that occurs is said to be one of the risks threatening the economy. Global growth has been restrained and is considered fragile . "The developments we have seen lately give us great concern about what will happen to future growth. To note, the trade war between th...
World

Australia Explores Involving Mediators Regarding Payment of News Content on Facebook

Australian authorities are capable of engaging mediators to determine payments by social networking service company Facebook or other internet companies such as Google. This is related to the traffic that arises from the news content that users upload there. This plan will occur if Facebook cannot reach an agreement with the local media company on the payment of traffic from this content. However, Facebook management objected to being subject to an unlimited royalty payment scheme. On this matter Facebook management representatives have not commented. At the same time, Google's local management said that it has reached an agreement with many Australian media on content. The chairman of the competition regulator, Rod Sims of the Australian Competition and Consumer Commission (ACCC)...
Economy and Finance

Not the First Time the World Economy is Destroy by the Pandemic

Pandemics that occur in the world have indeed influenced the global economic system and suppressed the economies of all countries. This is because the pandemic forces humans to limit their interactions with others in order to suppress the spread of the virus. Long before the current COVID-19 pandemic, the world economy had also been battered by the Spanish Flu pandemic around 1918. Citing a report compiled by Ally Mintzer on econreview.berkeley.edu, the result of the Spanish Flu at that time also forced world countries to impose restrictions that influencing the consumption pattern of society and the business world so that the wheels of the economy move slowly or even temporarily stop. The incident in 1918 was the worst in the history of the United States (US) because it claimed hundre...
Excel News

DKI Returns Total PSBB, Epidemiologist: Covid-19 Pandemic Needs Preparation and Collaboration with JABODETABEK Areas

DKI Jakarta Governor Anies Baswedan decided to pull the emergency brake applying large-scale social restrictions (PSBB). Thus, the implementation of the transitional PSBB in Jakarta was also revoked and the PSBB was re-implemented on Monday, 14 September. This decision was made taking into account a number of factors such as the availability of almost full hospital beds and high mortality rates. "There are not many options for Jakarta except to pull the emergency brake as soon as possible," Aniaes said in a press conference broadcast on the DKI Jakarta Provincial Government's Youtube channel, Wednesday (9/9/2020). Buffer area preparation and collaboration In response to this decision, Indonesian epidemiologist at Australia's Griffith University Dicky Budiman said the potential for colla...
Excel News

Covid-19 Makes the World Economy Fall to a Minus of 7.6 Percent in 2020

The Corona pandemic that attacks the whole world has an impact on all countries in the world. It is estimated that the Corona Covid-19 pandemic will cause world economic growth to fall by minus 7.6 percent in 2020. "Various estimates show that (global) economic growth in 2020 could be around minus 7.6 percent due to Covid-19," said the Head of the Assistance Team for the Coordinating Minister for Economic Affairs, Tirta Hidayat, in a virtual discussion in Jakarta. The impact of the Covid-19 pandemic has even made countries experience the worst crisis. Even Britain was hit by a crisis that was perhaps the worst in 350 years. "So this shows that the impact is truly massive and global is almost evenly distributed. So if we see the threat of a recession in almost all parts of the wor...