how business program looks at indonesia, and it's potential to become a global economic powerhouse, but it's coming up off to the right. don't forget, you find updates on our website at the w dot com and the social media channels the handle is at. they definitely need somebody to me how to seize top of the the can you see what old car tires have to do with the production? here's a hands on business. so really indeed much. now on youtube, back in 2014. the us invested marginally more f d a into indonesia than china. but in recent years, chinese inflows have significantly had stripped those from the us. last year, chinese f t i into indonesia was almost 5 times the from the us. much of it going

towards nickel processing, the data where's on points says the chinese f d i into indonesia is still enough. what country place it would be a decade ago. the 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 in places of the us where there's more than a 100 trillion dollars worth 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 dodo was largely focused on domestic economic policies. 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 and the us. i mean, those 2 countries increasingly intense rivalry is a key challenge for the new president. here's andrea, can i tell a guy with an associate 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 india 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, tennessee. 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 the amount and level of 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 it can still maintain cardio relations with both countries. rather than pick a site as a full dependency in the world, we need countries like indonesia. you can have conversations, you can invest in trade with both china and america because it brings a degree of stability and ended independence to the world at a time when otherwise i think we would risk a really wrap it in damaging fracturing. i think uh to it's, it's going to naturally, you know, move into that, you know, strategic a place where it can actually interlock 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 interlocking hers 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 us 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. um whenever his time in charge comes to an end, indonesia as role in the global stage is likely to a significantly evolved or jo, co adult or has received widespread credit for a steward. ship 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, a significant amount, nutrition, a child, stunting problems. that's part of a broader challenge indonesia faces with regard to. so called human capital, that's have issues around health and education plan to 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 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, have a coupon guess to see some comparisons with india and other 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 uh, to develop we, 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. um, 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. brand line believes that indonesia has tendency towards economic protectionism, has encouraged some within the country to take advantage for themselves. many people in india corporate that the crony capitalism, you might call the corrupt government officials and read it. so you could exploit to this sense of indonesia needing to protect them results as well. the other 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 slowing down to benefit the individual or the people. one of the biggest criticisms of window is his record and 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 football in. indonesia still has a very vibrant civil society, including investigative journalists and see corruption come painted environmental campaign. and i think it's, it's on them. and what engaged and so i seem to try and keep that future governments on this. so as the with dodo here comes to an end. what is his economic

legacy and what does a future hold for the country to consider these questions we spoke to shree, while jani ends are 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 more jani, injure 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? well this, it ends up only has ought to be the chief in the us then. yes, it's actually quite a remarkable 1st. if you look at how we develop the policy, i think his adoption of becoming very pragmatic and open minded all. how are the in the nation need to adopt a lot of sometimes difficult reform been full that needs to be done. i think that's

one of the most important official legacy that within the context of the economy policy on the macro side, maintaining microeconomics that will be this kind of policy continues to be very important. but at the same time, the all sort of thing that the budget and system needs to be managed category and in the proven weight. so that if we're in, we're not cause a problem for the economy. he also respecting the independence, the of the central and bang. this is also what also a respectable and at the same time with the fact that the 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 human capital. you know, of course, 20 percent of the budget according to our constitution, could be a little kit for education. but the also tried to reform as

a dictation by the introducing that digital a economic g in governing the we, we manage this 20 percent of the budget. we also now kind of the asset of the things that are the wrong on the education. you also to get nice that listed in your call. 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 different name be half what i did to what that remarkable achievement. and finally, minister, we are at the end of the new era, but a new era is about to begin with your new president. you to be inaugurated propulsive bianco. in october now, president window has been very focused on the economy. do you believe that your new president will be as focused on, are you in any way concerns that perhaps the focus will the via to other matters? i think is that one of the be hopefully as most that i'm station 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 to go as well as the economic management of cost. the board is not going to be the same. there will be quite that to me as a beginning, also see in manufacturing, manufacture 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 we're aiming to do. that is addressing the issue of mentoring bounce back. that is human capital investment and then down streaming and value added. and then in some of the institution, i'd be able to stream on andro at 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 mick 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, you're in the context of, of southeast asia, the region. you know, in terms of besides gets economy in terms of the sides of its population in terms of it's, it's longstanding, sort of informal role as, as a leading figure in the association of south station nations. indonesia is firmly on course to be one of the world's 5 biggest economies in a few short years. but it's not just the question of sides with wants to 1000000 people joining the workforce you get undeniably indonesia is economy will grow just to to have more people and consuming more food. fine will buy to bikes and cause so

inevitably, indonesia rose. i wrote the question is more all using increasing g d p tablets. uh you might have well, us 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 have 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 joke about indonesian economic development, which i think is often told about many of the imagine funding needs and schedule something along the lines of indonesia has a lot of potential and it will ways well. and so i think that's definitely a big question that the visions of high as a new president's prepares to take office 280000000 indonesians hope you can match those high ambitions with reality. the thanks a lot for watching. i'm until the next time. take care the

the in the early hours of february 24th just over 2 years ago. are you currently in jo, less than kia hubby? unmistakable sound, the russian miss. i'll talk to you soon. he says he really believe that he to be lying in a fit with a russian bullet in his head. but it didn't happen instead, any upon the money. and co woke up went out and began reporting in real time how ukrainians acted full of full on the daily hourly face of his new book, cold. i will show you how it was found. the 1st 3 months of most goes invasion and his remarkable new love affair with his own country.