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Jakarta Post

Domestic market a lifeline for nation: SBY

  • Erwida Maulia and Wahyoe Boediwardhana

    The Jakarta Post

Malang, East Java   /   Wed, January 28 2009   /  03:23 pm

President Susilo Bambang Yudhoyono demonstrated his academic prowess Tuesday while addressing an economic forum about the ways Indonesia could withstand the ongoing global financial crisis. Speaking at the 46th anniversary of Brawijaya University, Yudhoyono asked the nation to learn from its Asian neighbors who strengthened domestic markets, rather than rely on exports, to survive the global crisis. Yudhoyono, who completed a doctorate degree in agricultural economics from the Bogor Institute of Agriculture in 2004, said export-oriented countries were vulnerable to the crisis in overseas markets. The President said Indonesia had enough capital, both in terms of labor force and natural resources, to develop the domestic market to its full potential, particularly with a population of 230 million people. "Like South Korea, Taiwan and Singapore, we shall n...