ASEAN: Indonesia’s Risks Amid De-Dollarization Push
One of the leading ASEAN nations, Indonesia, may suffer colossal consequences if it pursues the idea of de-dollarization. The nation is highly dependent on the US dollar for multiple purposes. While the collective ASEAN nations are busy curating their currency, launching a currency rivaling the US dollar may significantly backfire, ushering in mayhem for the ten bloc nations. Also Read: ASEAN Unity At Risk Amid Divergent Path Concerns Potential Consequences of De-Dollarization for Indonesia Source: Beawiharta Beawiharta / Reuters / cfr.org Economic Implications ASEAN nations are busy creating their currency systems. This system is being prepared to launch a unified approach to currency dynamics and, at the same time, create a contemporary currency capable of rivaling the US dollar and the euro. Despite its grand ideations, the derailment of the US dollar can prove lethal for these nations as a collective. Indonesia, in particular, can experience stark economic implications that could w...