COMMENTARY: What does Trump’s win mean for the Indonesian economy?
After Donald Trump’s shocking presidential win, the US and the world are trying to grasp what it will mean. Some have dubbed the event a bigger shock than Brexit. Aside from the elevated risks to the US economy, what does it mean for Indonesia?
The US stock market rebounded after the initial sell-off on the news that Trump had won. The winners were banks and pharmaceuticals. Banks will thrive on a friendlier White House. Pharmaceutical companies are happy to be rid of pressures of price-fixing from the Democrats. Defense stocks soared on planned larger armed forces spending. Meanwhile, the treasury market also rose from the earlier sharp decline. The pattern of sell-off then rebound also took place after the June 2016 Brexit decision. But does it mean all is well?
Trump’s acceptance speech appears to have calmed frayed nerves, and governing is usually less poetic than campaigning. The recent precedent of an inexperienced president guided by senior statesmen can appear under control. Remember George W. Bush? If you think his leadership was fine, think again. His eight years in office saw the Iraq invasion and the global financial crisis. Lax financial regulations and rising deficit were the bases of the 2008 meltdown.
(source: Jakarta Post)
Vocabulary:
1. "After Donald Trump’s shocking presidential win, the US and the world are trying to grasp what it will mean."
- grasp (verba)= memahami.
2. "Some have dubbed the event a bigger shock than Brexit."
- dubbed (verba)= menjuluki
3. "Aside from the elevated risks to the US economy, what does it mean for Indonesia?"
- Aside from = selain itu
4. "The US stock market rebounded after the initial sell-off on the news that Trump had won."
- rebounded (verba)= memantul
5. "The US stock market rebounded after the initial sell-off on the news that Trump had won."
- sell-off (verba)= menjual
6. "Banks will thrive on a friendlier White House."
- thrive (verba)= berkembang
7. "Banks will thrive on a friendlier White House."
- friendlier = lebih ramah
8. "Pharmaceutical companies are happy to be rid of pressures of price-fixing from the Democrats"
- to be rid of = membebaskan , menyingkirkan
9. "Defense stocks soared on planned larger armed forces spending."
- soared (verba)= melonjak
- planned (Adjetive)= berencana
11. "Defense stocks soared on planned larger armed forces spending."
- armed forces = pasukan bersenjata
12. "Meanwhile, the treasury market also rose from the earlier sharp decline."
- the treasury market = pasar modal/uang
13. "Meanwhile, the treasury market also rose from the earlier sharp decline."
- decline (verba)= menurun
14. "The pattern of sell-off then rebound also took place after the June 2016 Brexit decision."
- took place (verba) = terjadi
- decision (nomina)= keputusan
- calmed (verba) = Menenangkan
- recent (adjective) = baru
- under control = terkendali
- Lax (adjective) = longgar
- meltdown = kehancuran
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