economy asks, what kind of influence the country can house on the global stage? i'll be back at the top of the little world news. have a good the, the innovation green, the green revolution global. so listen to a whole lot of crime. it's probably up to speed if the carriers by the time is helping subscribe to the subscribe to plan, it's a fucking 2014. the us invested marginally more f d a into indonesia than china. but in recent years, chinese inflows have significantly, i'd strip those from the us. last year, chinese f d i into indonesia was almost 5 times the from the us. much of it going towards

nickel processing, the data, where is a one point says the chinese f d i into indonesia is still enough. what that country place it would be a decade ago. but he also emphasizes the importance of indonesia attracting f d i from the us. there's still tremendous amount of liquidity in the g 7 countries increases of the us, where there's more than a 100 trillion dollars, which is liquidity floating around in that, that is, you know, i think the scenario where i think people in southeast asia need to be aware off more so so that capital formation can actually take place, you know, into places like indonesia or southeast asia. indonesia is rising, economic importance is matched by its rising fuel. political importance. president with total was largely focused on domestic economic policies for the president

elect. so be anto is going to have to navigate a changing role for indonesia on the global stage. how indonesia balance is, it's relationships with china on the u. s. i mean, those 2 countries increasingly intense rivalry is a key challenge for the new president. here's, i'm draco natal, a guy with an associated fellow for the southeast asian program at the center for strategic and international studies in washington, dc. when you look at, in any just relationships with its partners, they're, they're complex. if you take china, for example, and sort of the enormity of the economic relationship between the news and china, both in terms of investment in terms of trade in goods and services. that's a, that's a critical relationship. but at the same time, that economic relationship is complicated. by frustrations or anxieties in the political, military space. and in particular, uh univision, anxieties around china's actions in the south trying to see the complexity of the relationship with china is matched by the us with the usa. then when you look at

the united states, it's almost the inverse, where on the mountain level, political military cooperation has been quite positive. but there's a sense in jakarta that united states isn't being as engaged as it could be on economic affairs and on economic engagement. but indonesia is geographical, cultural and economic positioning means that can still maintain guardian relations with both countries. rather than pick a site that's a full stability in the world. we need con, fees, like indonesia who can have conversations. you can invest in trade with both china and america because it brings a degree of stability and in the into dependence to the world at a time when otherwise i think we would risk a really wrap it in damaging fracturing. i think uh it's, it's going to naturally, you know, move into that, you know, strategic a place where he can actually enter, lock you between 2 great forces and,

and we live in a much more multi poor kind of world right now. then that i think is gonna require, oh, you know more and more interlocutors present deluxe per polo. so bianco is expected to be more focused on foreign affairs than we don't know. president jacoby has been much more economically oriented. many of his foreign policy initiatives have hinged on domestic political matters. and so with that being the focal point of is economics of is uh, international initiatives. we expect that the president proposal will be a bit more of an internationalist and a bit more hands on engaged when it comes to foreign policy and defense in particular. and whenever his time in charge comes to an end, indonesia, his role in the global stage is likely to have significantly evolved. for a jo cole with dodo has received widespread credit for a stewardship of indonesia is economy. the country is new president willing harris,

plenty of daunting challenges. as one of his election campaign pledges was to introduce a free lunch program for the country students in an attempt to deal with indonesia, significant amount nutrition on child stunting problems. that's part of a broader challenge indonesia faces with regard to so called human capital. that same issues around health and education play into wider economic well being. indonesia doesn't score well on a lot of the human capital indices, whether it's the piece of scores or uh, level of skills and so on. so investing in education and health is going to be a key part of the current as well as the medium term development of the new nation . marie, i look up on guess to see some comparisons with india. another economy with vast potential which needs to ramp up spending on health care and education to give it to you own growing population, a chance to drive it really risk to me on the, on making sure that we invest in the human capital. and that's about education and

health and education is the big area that we really need to, to do our we have a bonus demographic bonus field for another 15 years. uh. and this is something that we really have to capitalize on for data. where'd you on the biggest challenge, as well as creation to make indonesia a truly developed economy? poverty is something that's been highly manageable in our country. so it's so way less than 10 percent. it used to be more than 10 percent. and thanks to, you know, our ability to, you know, be able to create jobs continuously. but we need to re, you know, create the narrative. and in the sense that, you know, the job creation ought to be at the higher level of the value chain. he points that the china is g d, p per person, grows as vastly had stripped out of southeast asian countries such as indonesia in

the last 3 decades. and that it's no time to catch up. it's highly identifiable as to why we underperformed that of china. because under investment in education, under investment, to infrastructure, lack of governance and lack of competitiveness, right. so i'm, i'm a lot more focused on, you know, what it takes for indonesia to be able to put more food on the table faster, more effectively and more efficiently. there are plenty of other domestic challenges that to be on to will have to grapple with if he has to steer indonesia is economy successfully. one of the biggest is corruption. band blind believes that indonesia has tendency towards economic protectionism. has encouraged some within the country to take advantage for themselves. many people in indonesia corporate sac, the crony capitalists, the michael, the corrupt government officials and red cuz they splintered this sense of indonesia needing to protect them, result as well, the benefit. so by protecting the economy

a often they often benefits specific interest groups. it creates profits unusual read for the corrupt business people, corrupt officials rather than necessarily floating down to benefit the individual or the people. one of the biggest criticisms of window is his record on corruption . the infamous we news are to popular anti corruption agency within the country. and critics, that corruption is a bigger problem no than when he took office. there also, investigations go into crop ministers and we still continue see even very high profile people being investigated for corruption. so i think while it's right to be concerned about the direction of travel, there's still a lot to be full full in indonesia still has a very vibrant civil society, including investigative journalists and some drops and campaigning environmental campaign. and i think it's, it's on them. and what engaged and so i just need to try and keep that future governance on this. so as the with dodo here comes to an end. what is his economic

legacy and what does future hold for the country to consider these questions we spoke to shree, while jani enjoy watching. indonesia is long serving finance minister, who's been serving in that role since 2016. having previously been in the office from 2005 to 2010. so 3 mariani, andrew, what the minister of finance of indonesia. thank you very much for taking the time to speak to us here in business beyond. so your country, indonesia has reached the end of an era. president's joke. oh, we don't know. we'll leave office in just a few months time after a decade in charge. what is his economic legacy? what this it ends up only has ought to be the chief in the us then? yes, it's actually quite remarkable. first, if you look at how we develop the policy, i think his adoption of becoming very correct. domestic and all minded off, how are the indonesian need to adopt a lot of sometimes difficult to the font being full that needs to be done?

i think that's one of the most important of pissed legacy. that's within the complex of the economy policy on the macro side. meaning macro economic stability is kind of policy continues to be very important. but at the same time, the all sort of thing that the budget and system need to be managed category and in the proven weight. so that if we're in, we're not us a problem for the economy. the also respecting the independence, the of the central bank is also quite also respectable. and at the same time with the back, not that big approach, but also at the same time. and i think approach, it also tried to push the form as many of this back to the uh and put them in the issue of our putting on me, for example, like a human kept it up. you know, of course, 20 percent of the budget according to our constitution could be located or education. but the also a tried to reform as

a dictation by the introducing the digital a economic g in governing the we, we manage this 20 percent of the budget. we also now side of the asset of the things that are the wrong on the education. you also to get nice steps listed in your fall. we are located quite a lot on infrastructure development because indonesia is being left behind. so in terms of all this, both physical and the 6 different, let him be half what i did to what that remarkable achievement. and finally, minister, we are at the end of an era, but a new era is about to begin with your new president, you to be an old rated pro bowls. it'd be until in october, no president with auto has been very focused on the economy. do you believe that your new president will be as focused on, are you in any way concerned that perhaps the focus will be via to other matters? i think is i'm going to be hopefully as most that i'm session politically. but also

at the same time providing to be in the south, the direction of policy as well as a good practice in the follow up the go as well as the economic management of cost . the board is not going to be the same. there will be quite dynamic as a beginning. also see in many countries, many part of the region, the, our changing the landscape of the policy, the direction the competition is going to be continued very high. so yeah, it's going to be uh, quite a dynamic and challenging environment, but uh, so far up there today, my communication and interaction i think is quite a bit of consistent with what you mean to do that is addressing the issue of mentoring come back. that is human capital investment and then downstream and value i did. and then in some of the institution i'd be able to stream on and roll out the minister of finance of indonesia. thank you very much for joining us today on business beyond thank you, bye. i joke, oh,

we don't know. wanted to we mic indonesia economically on to a large extent he has done so, but perhaps the biggest thing he is doing is raise expectations both at home and abroad. i think there's a lot of ambition in terms of indonesia and it's vision for the future. it's vision for its role in the global order. and you know, when you look at any d, j in the context of, of southeast asia, the region, you know, in terms of the size of its economy in terms of the size of its population. in terms of its, its longstanding, sort of informal role as, as a leading figure in the association of sub station nations. indonesia is firmly oncourse to be one of the world's 5 biggest economies in a few short years. but it's not just a question of sites with wants to 1000000 people joining the workforce. the jet, undeniably indonesia is economy will grow just because you'll have more people consuming more food, buying will buy to bikes and cause so inevitably, indonesia,

rosa roles, questionnaires more. are you the increasing gdp topics that you might have? well, pos, and those are highly you dealing with the challenges of widespread and equality in indonesia, there's an unmistakable sense of indonesia. his recent policies brought it to the cost of a major economic breakthrough. many other emerging economies have been here before without seeing it's true. there's a popular joyce about indonesian economic development, which i think is often told about many of the imagine funding these guys. something along the lines of indonesia has a lot of potential unable ways well. and so i think there's definitely a big question that the visions of high as a new president prepares to take office 280000000 indonesians hope you can match those high ambitions with reality. the thanks a lot for watching until the next time. take care the

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