TheJakartaPost
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China's economic growth slowed to the weakest pace in a year in the third quarter, as a property crisis and trade tensions hurt demand, leaving policymakers with the daunting challenge of rebalancing GDP drivers towards greater consumption over time.
The government must zero in on strengthening manufacturing, cutting logistics costs, ensuring legal certainty and preserving fiscal credibility if it wants to turn the President's 8 percent growth dream into reality, experts say, and perhaps kill the free meals program..
The government has promised strong gross domestic product growth for the remainder of this year and onward as it expects higher consumption, underpinned by increased private sector activity and government spending.
The country needs a balanced approach to growth that incorporates innovation, development and investment in targeting key value-added sectors to not just catch up with its regional peers, but to achieve its overarching goal in the Golden Indonesia 2045 vision.
Japan's economy expanded much faster than initially estimated in the second quarter, driven by upward revisions in private consumption and inventories, giving policymakers some assurance as they navigate political and trade uncertainty.
