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THE IMPACT OF THE US-CHINA TRADE WAR ON THE STABILITY OF THE RUPIAH EXCHANGE RATE: A SHARIAH HEADING APPROACH Parlindungan; Mirzah Ikmaliyah; Heru Kurniawan
International Conference on Health Science, Green Economics, Educational Review and Technology Vol. 5 No. 1: IHERT (2023) FIRST ISSUE: International Conference on Health Science, Green Economics,
Publisher : Universitas Efarina

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ihert.v5i1.474

Abstract

The trade war between the United States and China has created significant global economic uncertainty, affecting exchange rate stability in developing countries, including that of the Indonesian Rupiah. This study aims to analyze the impact of the US-China trade war on the stability of the Rupiah exchange rate and to explore the application of the Sharia hedging approach as a solution to manage exchange rate fluctuation risks. Using a qualitative method based on a literature review, this study found that in early 2025, the Rupiah exchange rate depreciated by 8% against the US Dollar due to global trade tensions and a domestic current account deficit. The widely used conventional hedging strategies have proven effective but are not in line with Islamic economic principles. On the other hand, Sharia-compliant hedging, such as wa’ad, salam, and murabahah mu’ajjal, offers a more ethical, inclusive, and Sharia-compliant solution. These instruments can mitigate exchange rate risk without involving elements of speculation, gharar, or riba. The implementation of Sharia hedging requires close collaboration between Islamic banks, business actors, and regulators to ensure its effective and appropriate application. This research concludes that the Shariah hedging approach can strengthen the stability of the Rupiah exchange rate while also supporting the principles of Shariah economics.
Keterampilan Entrepreneurship Syariah untuk Meningkatkan Pertumbuhan Ekonomi Mirzah Ikmaliyah; Parlindungan Parlindungan; Heru Kurniawan; Dhea Alpina Giawa
International Journal of Economics and Management Research Vol. 3 No. 3 (2024): December : International Journal of Economics and Management Research
Publisher : Pusat Riset dan Inovasi Nasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/ijemr.v3i3.520

Abstract

This research aims to analyze the application of Islamic values in sharia entrepreneurship skills and their impact on economic growth, especially in the MSME sector in Medan City. The research method used is qualitative with a descriptive approach, where data was obtained through surveys and interviews with five business actors in the fashion sector in Medan City. The results of the study show that the application of sharia principles such as honesty, discipline, independence, commitment, and social usefulness plays a significant role in building consumer trust, increasing loyalty, and strengthening business resilience. In addition, Islamic values also encourage innovation and productivity, as seen in adaptive marketing strategies and business management that is free from riba, gharar, and maysir. The findings of this study reinforce the theory that sharia entrepreneurship is not only oriented towards material gains, but also creates positive social impact through community empowerment and ethical business practices. The implication of this research is the importance of the support of the government, Islamic financial institutions, and educational institutions in developing training and mentoring programs to strengthen the sharia-based entrepreneurship ecosystem. Thus, sharia entrepreneurship can be a strategic solution in facing global economic challenges, while encouraging inclusive and sustainable economic growth in Indonesia.