Indonesia’s economy expanded more than expected in the second quarter as domestic consumption helped offset a decline in demand for exports.
Trumplets pls. Few days I wrote
But Indonesia has a few things going for it:
– two major exports are recession-proof
— lower cost producer of thermal coal and closer to China (tpt costs lower) than Oz means there will still be demand for its coal; and
— palm oil cooking oil is the cheapest cooking oil;
– cheap labour attracting the likes of Foxcomm;
– last yr’s floods in Thailand are prompting MNC manufacturers to a “Thailand + one” strategy; and
– consumption now accounts for two-thirds of gross domestic product in Indonesia.