Can Prabowo-Gibran pair improve on Jokowi’s developmentalism in eastern Indonesia considering the persistent socio-economic challenges in the region?
Economy
Indonesia’s nationalist economic policy and prospected return to industrialization are spurred by a few factors.
In the pursuit of a sustainable blue economy, combatting illegal, unregulated, and unreported fishing (IIU fishing) is paramount.
K-pop, K-drama and technologies. These could very well be South Korea’s recipe against stagflation.
China’s Belt and Road Initiative (BRI) in Cambodia has become a crucial economic and socio-cultural development factor for the nation, though at the cost of expanding China’s influence.
The devastating earthquakes that struck Turkey in February 2023 exacerbated the country’s economic problems and a posed political conundrum on the embattled President Recep Tayyip Erdoğan.
The principle of ASEAN centrality has been reified in the recent conclusion of Regional Comprehensive Economic Partnership (RCEP). However, the Association faces three challenges to stay relevant post-RCEP.
As the Job Creation Law plays a strategic role in developing the Indonesian economy, it may assist Indonesia to become a formidable regional and global competitor. Hence, it is important to synergize the law with other legislations, including the Law on the National Educational System.
Indonesia’s overemphasis on post COVID-19 economic recovery through the passing of the Omnibus Law has the potential to prolong economic downturn currently caused by the pandemic. Indonesia seems to be focusing on the wrong policies to meet with existing challenges.