{"id":3050,"date":"2020-09-24T14:03:19","date_gmt":"2020-09-24T14:03:19","guid":{"rendered":"https:\/\/www.itasean.org\/?p=3050"},"modified":"2021-03-14T10:24:29","modified_gmt":"2021-03-14T10:24:29","slug":"uneconomia-aperta-lultimo-obiettivo-dellindonesia","status":"publish","type":"post","link":"https:\/\/www.itasean.org\/en\/uneconomia-aperta-lultimo-obiettivo-dellindonesia\/","title":{"rendered":"An Open Economy: Indonesia\u2019s Latest Goal"},"content":{"rendered":"<h2><em>After having successfully achieved unity and democracy, now the country strives for economic openness&nbsp;<\/em><\/h2>\n\n\n\n<p><p style=\"text-align: justify;\" class=\" translation-block\">Indonesia is a country with over 14,000 islands, 700 languages, and 1,300 ethnic groups. Yet, despite its size and heterogeneity, Indonesia managed to find strength in its national motto \u2018Bhineka Tunggal Ika\u2019 that means \u2018Unity in Diversity\u2019. The country is now ranked as the world\u2019s 16th largest economy and is predicted to rise to the 7th position by 2030, based on a report from McKinsey. However, this success didn\u2019t come overnight. According to Kishore Mahbubani, a distinguished fellow at the Asia Research Institute and a former diplomat in the Singapore Foreign Service, one of the reasons behind Indonesia\u2019s success is that the country had the right leader in each point of history.<\/p>\n\n\n\n<p><p style=\"text-align: justify;\" class=\" translation-block\">Soekarno, the first president of Indonesia, created unity among the people. He was able to unite the country through <em>Pancasila<\/em> \u2013 the Indonesian state philosophy- and he also established the country\u2019s national language: <em>bahasa Indonesia<\/em>. His successor, Suharto, with an authoritarian approach managed to deliver economic growth to the country (6.6% on average during his regime), putting it on a favorable development path. Finally, in 2014 Susilo Bambang Yudhoyono, President for two terms, delivered significant progress in democracy and international cooperation. Also thanks to Indonesia\u2019s leadership in ASEAN, the country was admitted to the G20, obtaining a permanent and visible role in the global arena.<\/p>\n\n\n\n<p><p style=\"text-align: justify;\">\nToday, the current administration, led by President Jokowi, is faced with one major challenge: economic openness. Indonesia is still somewhat reluctant to open its market to competitors, and the reason behind this is rooted in the country\u2019s history. Indonesia has a legacy of economic nationalism that began in Soekarno\u2019s era when the struggle for national liberty was also seen as an economic one. Protectionist measures and hostile policies towards foreign investors were in place, with the hope of making Indonesia a self-sufficient nation. This all changed under Suharto\u2019s leadership when his administration proposed different policies aiming at a gradual integration into the global economy.&nbsp;<\/p>\n\n\n\n<p><p style=\"text-align: justify;\" class=\" translation-block\">The current aim is to promote and strengthen Indonesia as an open economy, with economic development at the core of the strategy. The government is focusing on the completion of various Free Trade Agreements, among which the Regional Comprehensive Economic Partnership (RCEP) and the Indonesia-EU Comprehensive Economic Partnership Agreement. The latter in particular, according to the programme of the next trio of Presidencies of the Council of European Union, will likely be concluded in 2021. Negotiations between the two sides are entering the 10th round this autumn, and looking at the previous results, several areas recorded good progress, among which the removal of technical barriers to trade, subsidies, and investments. On the other hand, negotiations on trade in goods, intellectual property rights, and sustainable development might require more time to reach an agreement.<\/p>\n\n\n\n<p><p style=\"text-align: justify;\" class=\" translation-block\">The government\u2019s effort is also reflected in Legatum Institute\u2019s 2019 Global Index of Economic Openness. Indonesia ranked 68th out of 157 countries, jumping six places in the last decade. Overall, Indonesia has managed to secure numerous trade deals, mostly with its ASEAN counterparts and other Asian countries. However, some critical elements continue to persist. Tariffs and import quotas are still being applied to protect the domestic market. In addition, a World Bank report also shows Indonesia\u2019s FDI being less than half of the global average \u2013 at 2% of its GDP. According to experts, this lack of FDI might slow down development in several sectors, especially infrastructures.<\/p>\n\n\n\n<p><p style=\"text-align: justify;\">\nNevertheless, in spite of Indonesia\u2019s structural differences, and the lingering issue of economic nationalism that might hinder the country\u2019s development, Indonesia is well on its way to becoming a major actor in the international scenario. Actions taken by the government show that President Jokowi\u2019s administration is giving priority to the opening up of the Indonesian market, to grasp the benefits of international trade. At this moment, the real challenge for Indonesia is to balance the domestic and foreign capital in the country, in a way that can actually benefit the economic system. Once the equilibrium point is met, no doubt it will transform Indonesia, unfolding all its true potential.&nbsp;<\/p>\n\n\n\n<p><em>By Rizka Diandra and Tullio Ambrosone&nbsp;<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Dopo aver conquistato con successo l&#8217;unit\u00e0 nazionale e la democrazia, ora il Paese sta spingendo per una maggiore apertura economica&nbsp; L&#8217;Indonesia \u00e8 un insieme di circa 14.000 isole, 700 lingue e 1.300 gruppi etnici. Eppure, nonostante le dimensioni e l\u2019eterogeneit\u00e0, l&#8217;Indonesia \u00e8 riuscita a trovare nel suo motto nazionale &#8220;Bhineka Tunggal Ika&#8220;, ovvero &#8220;Unit\u00e0 nella<a class=\"btn btn-primary more-link\" href=\"https:\/\/www.itasean.org\/en\/uneconomia-aperta-lultimo-obiettivo-dellindonesia\/\">Continue reading<\/a><\/p>","protected":false},"author":156,"featured_media":3051,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":[],"_tribe_ticket_has_attendee_info_fields":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[89,513],"tags":[353,352,157,354],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - 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