and we'll have more updates on that breaking news story as and when we have them. but for the moment that you are up to date up next, especially on the program, on a piece based in indonesia, i'm british managing tears and you'll see about the video that goes in the media and they google, google, i've got it done by get i will stop into that and i'll give you the order. would you, are you able to order that? i'm jo, media dog, currently more people than ever though on worldwide in search of a did you have you ever used them in, at the accounting method of doing it like godaddy? how do you guys find out about on the story and from icons? back in 2014, the us invested marginally, more f d a into indonesia than china. but in recent years, chinese in flows have significantly, i'd strip those from the us. last year, chinese f d i n to indonesia was almost 5 times dot 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 increases of the us, where there's more than a 100 trillion dollars, which liquidity is floating around. and 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 suby unto 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, i'm draco natal, 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 mount and 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 it can still maintain cardio relations with both countries. rather than pick a site that's a full dependency 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 to it's, it's going to naturally, you know, move into that, you know, strategic a place where it can actually enter, lock you between 2 great forces and,

and we live in a much more multi polar kind of world right now. then that i think is gonna require, oh, you know, more and more interlocutors, president elect, per polo. so be unto is expected to be more focused on foreign affairs than we don't. 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 engage when it comes to foreign policy and defense in particular. um, whenever his time in charge comes to an end, indonesia, his role in the global stage is likely to a significantly evolved on joe coal 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, and 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 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 throw the per person growth 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 sac, 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 result as well. the other benefit. so by protecting the economy, a often they often benefits,

specific interest groups that creates profits and on user 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, or the 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, as he drops. and campaign is 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 governments on this. so as the with dodo here comes to an end. what is his economic

legacy? and what does the future hold for the country to consider these questions we spoke to sri well jani, andrew, 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 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 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 of space 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 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. the 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, you also tried to push the form as many of this back to the end, put them in the issue of our putting on me, for example, like a human capital. you know, of course, 20 percent of the budget according to our constitution be advocated for education.

but the also tried to reform the dictation by to do introducing the 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's 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 pro bowl. so be unto 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 deviate to older matters? i think is i'm going to be home pretty 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 fall of the 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, many part of the region, the, our changing the landscape of the all of the, the direction the competition is going to be continued very high. so yeah, it's going to be a, what 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 down that that is human capital investment and then down streaming and then you add it. and then in some of the institution i'd be able to stream on andrew was the minister of finance of indonesia. thank you very much for joining us today on business beyond. thank you. bye bye. joe cole with auto wanted to re

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, usually 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 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 you get undeniably indonesia is economy will grow just because you have more people are consuming more food buying more, most of bikes and cause so inevitably, indonesia,

rosa rules. the question is more all you're increasing gdp tablets, uh the amount of wealth a person and those are how are you dealing with the challenges of widespread and equality in indonesia? there's an unmistakable sense to indonesia is recent policies brought it to the costs 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. it's only a little wind that indonesia has a lot of potential and it will ways well. and so i think there's definitely a big question that the patients a 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

the late again, it's down to the very last minute. getting to the meeting on time will be type. maybe take a taxi. that probably won't work. because whether it's bangkok, beijing, or new york, the taxi will probably get stuck in a traffic jam in minutes the but now there might just be a solution that's storing about the rest. also a name today. well, the 2024 olympic games and perez be worthwhile financially, wealth and power. are they a threat to them all.