Currency

Global Panorama / Flickr
Global Panorama / Flickr

Indonesia is one of the Asian economies hit by China’s currency devaluation. It’s been a busy week for the president—who has already shaken up his cabinet and is about to deliver his first State of the Union address. HPR’s Bill Dorman has more in today’s Asia Minute.

Joko Widodo has been president of Indonesia for less than a year. He’s the first president of the country to not come from the military or the politically-connected elite. He used to run a furniture business in Jakarta, where he later became mayor.

Japanexperterna.se / Flickr
Japanexperterna.se / Flickr

China devalued its currency Tuesday, driving it to its biggest one-day drop in more than twenty years. The move took global currency markets by surprise. But what does it mean for the rest of the region? HPR’s Bill Dorman has more in today’s Asia Minute.

A weaker currency makes a country’s exports cheaper while boosting the price of imports.

That’s the way the economics work. The politics are more complicated. Especially when it comes to China.