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View all search resultsDespite being on a declining trend since the 1998 Asian financial crisis, credit cost in Indonesia still remains the highest in ASEAN-5, and a different policy approach is needed to make the banking sector more competitive.
Trade Minister Zulkifli Hasan revealed that the government’s efforts to regulate e-commerce was realized by the steps taken by TikTok to collaborate with Tokopedia will result in big benefits for Indonesia.
The issues related to e-commerce are not merely about technological advancements but also from new market dynamics, where algorithms and data are utilized as tools and strategies to identify and influence consumer behavior and to control the market.
While the government's heart was in the right place when it banned social commerce, it would do well to keep in mind that the digital age is upon us and waits for no one: our MSMEs need not only protection, but also fortification through the provision of tools so they can innovate and join the competition.
Ministers have repeatedly said that e-commerce sellers using predatory pricing on social media platforms are threatening offline markets in Indonesia, with some officials specifically citing the video platform TikTok as an example.
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