China’s devaluing of the Yuan hurts Indonesia

Global Business

China's devaluing of the Yuan hurts Indonesia.00_00_54_13.Still007

With the US dollar strengthening and the Chinese Central Bank devaluing the yuan, the Indonesian rupiah fell below its lowest level since the 1998 Asian crisis.

What effect does this drastic weakening of the currency have on southeast Asia’s largest economy? CCTV’s Andy Saputra filed this report.

China's devaluing of the Yuan hurts Indonesia

China's devaluing of the Yuan hurts Indonesia

With the US dollar strengthening and the Chinese Central Bank devaluing the yuan, the Indonesian rupiah fell below its lowest level since the 1998 Asian crisis. What effect does this drastic weakening of the currency have on southeast Asia's largest economy? CCTV's Andy Saputra filed this report.

More details:

  • As Indonesia maneuvers itself into a sustainable economic model by way of decreasing subsidies, it comes at a cost of inflated basic goods prices. This means that for regular customers, they’ll be forced to possibly let go of their non-primary spending.