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EnglishHigh Hopes for the Omnibus Law

High Hopes for the Omnibus Law

It is no longer a surprise to hear economists and business people say that the global economy is in a sluggish state. That is reality.

· 8 minutes read

Irons are assembled at PT Selaras Citra Nusantara Perkasa in Cileungsi, Bogor regency, West Java, Thursday (10/10/2019). In the midst of the United States-China trade war, Selaras Citra Nusantara Perkasa seized the opportunity to export its first batch of electric air purifiers to the US.

Global economic data shows an increasingly weakening trend in the economy due to the pessimism caused by the prolonged US-China trade war. The US economy, which at the start of the trade war in 2018 grew 2.9 percent, is predicted to grow only 2.3 percent this year and is likely to be only 2 percent next year.

The US manufacturing index in November was only at level 48, meaning below level 50 for four consecutive months. Therefore, it turns out that the trade war started by Trump has had a negative impact, not only on the Chinese economy but also on the US economy. There have been predictions that China\'s economic growth will fall next year to only 5.8 percent.

Syahnan Rangkuti
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