Preparing (Legally) for the Next Economic Downturn

• Author: Nandang Sutrisno
• Position: Universitas Islam Indonesia, Yogyakarta;The Institute for Migrant Rights, Cianjur
• Pages: 153-158

e Indonesian Journal of International & Comparative Law

ISSN: 2338-7602; E-ISSN: 2338-770X

http://www.ijil.org

© 2017 e Institute for Migrant Rights Press

e author would like to express his sincere gratitude to Matthew J. Lutwen for his

superb editing that he performed for this piece.

PrEParing (lEgally) for thE nExt

EConoMiC downturn

Nandang Sutrisno

Universitas Islam Indonesia, Yogyakarta;

e Institute for Migrant Rights, Cianjur

E-mail: nandang.sutrisno@uii.ac.id

It is almost clear that we are heading toward the next recession. In

fact, the Economist has a stern warning that this time around it will be

much worse.1 One major reason is that no rich country has prepared

to deal with another blow. Put simply, it is very likely that none of us

have learned our lesson.2 And, thus, we have not instituted any neces-

sary measure should this unwanted event materialize. In the meantime,

looking elsewhere, an ever-rising U.S. dollar has sent Argentina3 and

1. The next recession, The ecoNomisT (Oct. 13, 2018) (“is week stockmarkets

tumbled across the globe as investors worried, for the second time this year,

about slowing growth and the eects of tighter American monetary policy.

ose fears are well-founded.).

2. See E P, L R: T F C   F 

B (2018).

3. Sam Meredith, Argentina’s peso has now fallen 52% against the dollar this year,

CNBC (Aug. 31, 2018), https://www.cnbc.com/2018/08/31/argentinas-peso-

has-fallen-108percent-against-the-dollar-so-far-this-year.html.