Indonesia is right to put stability before economic growth

Tight grip required as Turkey and Trump's trade war shake markets

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Indonesian President Joko Widodo must balance political and economic pressures.

As Indonesia looks toward presidential elections slated for April next year it faces an increasingly uncertain economic outlook, including a difficult trade-off between pursuing growth and protecting stability.

Along with other emerging markets, the country's currency and financial markets have been under pressure amid rising U.S. interest rates and fears of contagion from an unfolding crisis in Turkey as well as problems in Argentina. Meanwhile, U.S. President Donald Trump's trade wars hang like an ominous cloud over the global economy -- and Asia in particular.

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