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View all search resultsThe Indonesian economy has proven to be resilient amid slowing global growth and a tumultuous world market. Although there are some vulnerabilities that still raise concerns, several macroeconomic indicators show that the economy is doing reasonably well.
“You can always find more solutions than challenges.” This is what a Chinese saying goes. Against the backdrop of a complex and fast-changing domestic and international environment, China has followed the general principle of pursuing progress while ensuring stability, and as a result kept major economic indicators within an appropriate range.
Now that the Indonesian people have re-elected President Joko “Jokowi” Widodo, according to the quick counts, Indonesia has an important opportunity to take steps that will propel growth, further diversify the economy and prepare its youthful population to compete successfully in a world where technologies such as artificial intelligence and the internet of things will drive competitiveness.
For the Indonesian government, maintaining fiscal credibility becomes more important as Indonesia plays a more significant role in the global economy. The country is now the biggest economy in Southeast Asia and a member of the G20.
Even though weakening global growth and world trade continues to pull down Indonesian exports and consequently its economic growth, Southeast Asia’s largest economy is projected by the Asian Development Bank (ADB) to achieve a 5.2 percent rate of expansion this year, slightly higher than the 5.17 percent last year and the 5.07 percent in 2017.
In Washington, DC, a bipartisan consensus about China has emerged: The United States is facing a trade-manipulating, authoritarian intellectual-property thief that represents a strategic threat to the US and its allies and deserves to be punished.
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