TEMPO.CO, Jakarta - Tempo English compiled the top three news on Wednesday, July 17, 2024. Here are the highlights: Imported Clothes Allegedly Sold Illegally in Tanah Abang, Kadin Warns Indonesian Govt of Retaliatory Measures Against Safeguard on Imported Commodities, and IMF Sees Steady Global Growth, Warns of Slowing Disinflation Momentum.

The following is the list of the top 3 news on Tempo English today:

1. Imported Clothes Allegedly Sold Illegally in Tanah Abang

TEMPO.CO, Jakarta - Amidst the decline of the textile industry, a number of entrepreneurs have expressed concerns about the easy entry of imported clothing into Indonesia, including from China. The Tanah Abang Wholesale Market is known to be a hub for buying and selling these imports. Tempo investigated this issue on Friday, July 12, 2024.

Block A of Tanah Abang Market appeared deserted on that Friday. Many shops were closed when Tempo visited the second floor, which is dedicated to wholesale children's clothing. Suriadi, a 33-year-old shopkeeper, explained that the market only gets truly busy on Saturdays and Sundays. “In the past, it was busy even on weekdays. Now, it's only bustling before Ramadan and Eid,” he said.

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2. Kadin Warns Indonesian Govt of Retaliatory Measures Against Safeguard on Imported Commodities

TEMPO.CO, Jakarta - The Indonesian Chamber of Commerce and Industry (Kadin) supports the government's plan to implement anti-dumping import duties for seven commodities. Kadin also warned the government of retaliation potential when applying safeguard measures to exporting countries.

"Beware of retaliation, don’t let other countries take specific notice of this policy,” said Kadin’s Deputy Chairperson of the Coordinator for Maritime, Investment, and Foreign Affairs on Monday, July 15, 2024.

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3. IMF Sees Steady Global Growth, Warns of Slowing Disinflation Momentum

TEMPO.CO, Washington - The global economy is set for modest growth over the next two years amid cooling activity in the U.S., a bottoming-out in Europe and stronger consumption and exports for China, but risks to the path abound, the International Monetary Fund, or IMF, said on Tuesday, July 16.

The IMF warned in an update to its World Economic Outlook(WEO) that momentum in the fight against inflation is slowing, which could further delay an easing of interest rates and keep up strong dollar pressure on developing economies.

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