Preparing (Legally) for the Next Economic Downturn

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

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