G20 Acknowledges Trade as a Key Engine of Economic Growth - Photo by G20

JAKARTA (TheInsiderStoris) – Good morning. G20 finance ministers (FM) and central bank (CB) governors warned that increasing trade tensions risk undermining the global economy. The communiqué comes out over the weekend at the meeting in Buenos Aires, Argentina over the week end.

The ministers and governors said, amid growing tensions between the United States (U.S) and its major trading partners, finance ministers of the G20 end their summit without major controversy. But give a signal trade conflicts will be resolved anytime soon.

The ministers and CB governors meeting comes days after U.S President Donald Trump accused both Europe and China of manipulating their currencies to boost exports and threatened to impose up tariffs on hundreds million dollar goods.

The global policy makers emphasized the need “to step up dialogue and actions” between countries to minimize risks to global growth and improve confidence on trade. It also noted “downside risks” posed to the global economy as a result of “heightened trade and geopolitical tensions.”

Next week, Trump is hosting European Commissioner Jean-Claude Juncker at the White House to continue trade talks, including the possibility of averting import tariffs on European automakers.

Beside talking on trade war issues, the global policy makers also discussed on developing infrastructure as an asset class attractive to private investors, with a goal of reducing the global deficit in infrastructure, which could – according to some estimates – reach US$5.5 trillion by 2035.

Widodo to Announces VP

From domestic sides, President Joko Widodo to announce his companion in the presidential and vice-presidential (VP) elections in the 2019 general election in the to weeks ahead. The statement comes out at the Kebangkitan Bangsa Party’s aniversary last night.

Meanwhile, after cancelled the initial meeting last week, chairman of Gerindra Party Prabowo Subianto will meet former president Susilon Bambang Yudhoyono tomorrow. At the meantime, VP Jusuf Kalla (JK) give a strong signaled to race again, followed his support on Perindo party’s judicial review of the presidency and VP may be more than two periods to the Constitutional Court.

Ahead of the registration of presidential and vice presidential candidates on August 4-10, the name continues to emerge and more difficult to predict. Political movements that may be noticed is related to the steps of the government’s opposition party that is still looking for the ideal form.

Yudhoyono has offered his son name Agus Harimurti Yudhoyono (AHY) to become president or VP candidates to President Joko Widodo’s coalition party and others. Currently, Demokrat set three options, joining the coalition of Widodo, carrying the Subianto’s party, or carrying a candidate pair in addition to both.

With the joining of Kebangkitan Bangsa party to Widodo’s coalition, practically the option of carrying candidate pair outside of him and Subianto will be difficult. Unless, there is one party that has joined the coalition of Widodo out and deigns a coalition with the Democrats.

Previously, Demokrat proposed JK to accompanying AHY to race in the 2019 president and VP election. But, VP’s expert Sofjan Wanandi, JK has rejected the Democratic party’s bid caused he no  longer wants plunge in the political world and he still support Widodo in the presidential election.

Based on the results of simultaneous regional elections, particularly in West Java, Central Java and East Java, gave a massive lift to the Widodo’s re-election bid in 2019. The three provinces become the key battleground for the 2019 presidential elections as all accounted for 47.6 percent of eligible voters in the archipelago.

The first is West Java with the list of permanent voters of 31.730.042, followed by East Java of 30.155.719, Central Java of 27.068.500. Whoever the winner in the three provinces determine the support and coalition of the presidential election.

Email: linda.silaen@theinsiderstories.com

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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