{"id":4174,"date":"2020-11-05T20:00:52","date_gmt":"2020-11-05T20:00:52","guid":{"rendered":"http:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/?p=4174"},"modified":"2020-11-05T20:00:52","modified_gmt":"2020-11-05T20:00:52","slug":"indonesia-in-recession-for-first-time-in-22-years","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/2020\/11\/05\/indonesia-in-recession-for-first-time-in-22-years\/","title":{"rendered":"Indonesia in recession for first time in 22 years"},"content":{"rendered":"\n

Link to Article- https:\/\/www.bbc.com\/news\/business-54819898<\/a><\/p>\n\n\n\n

Indonesia has had one of the biggest economies in Southeast Asia for many years now, but with the emergence of COVID-19, their growth has been on the decline and they are now in the midst of a recession. The country has not dealt with a major recession since the Asian financial crisis in 1998. Due to their high rate of infection from the virus, it is now projected that around 3.5 million citizens could lose their jobs as they continue to combat COVID-19. One of the reasons for this substantial recession they are facing now is because of the lack of tourist money coming into the country. They are reliant upon their agriculture to hold up their economy, and while agriculture has always been a major component, the lack of tourism is one of the main factors for this recession. The Indonesian government hopes to stimulate growth in their GDP by increasing spending until they are able to open up their borders again to non-residents for tourism.<\/p>\n\n\n\n

The recession that Indonesia is facing puts the country in a very uncertain position because of how unpredictable this next year could be with COVID-19. While I believe they should prioritize decreasing their number of cases to give them a higher chance of reopening their borders, this option would also plunge them further into the recession. Without a clear sense of when there will be a vaccine, Indonesia seems to be taking the correct precautions as of right now to counter the recession and remain as safe as possible. The lack of tourism to their country will not have a major effect on the rest of the region, but if Indonesia chooses to increase their agriculture and trade, then they may be able to develop a larger agricultural market with other countries.<\/p>\n\n\n\n

This event being faced by Indonesia could be explained through the levels of analysis. On a global level, COVID-19 began to spread beyond the confines of China and created the initial effect on Indonesia’s economy by sending them and the countries that tourists visit from into lockdown. Next on the regional level, due to Indonesia’s proximity to China, the virus spread much quicker to their country and those surrounding. The state level, Indonesia was slow to quarantine and did not officially close its borders to non-residents until April 2, 2020. Their late quarantine and closure of borders is what caused the acceleration of cases in their country. Finally on the individual level, Joko Widodo, the president of Indonesia, argued against a lockdown and claimed that it would be more detrimental to their economy. Although he was right about how quarantine would affect their economy, they were still later forced into it. Arguably, if they had quarantined earlier, they could’ve come out sooner and it would been easier to rebuild their economy. Due to their poor response to the pandemic, their country now faces the long-lasting consequences.<\/p>\n","protected":false},"excerpt":{"rendered":"

Link to Article- https:\/\/www.bbc.com\/news\/business-54819898 Indonesia has had one of the biggest economies in Southeast Asia for many years now, but with the emergence of COVID-19, their growth has been on the decline and they are now in the midst of a recession. The country has not dealt with a major recession since the Asian financial crisis in 1998. Due to… Read more »<\/a><\/p>\n","protected":false},"author":179,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4174","post","type-post","status-publish","format-standard","hentry","category-analysis"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/4174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/users\/179"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/comments?post=4174"}],"version-history":[{"count":16,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/4174\/revisions"}],"predecessor-version":[{"id":4190,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/4174\/revisions\/4190"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/media?parent=4174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/categories?post=4174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/tags?post=4174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}