Indonesians are voting for their first new president in a decade, and opinion polls show the former general is determined to continue pursuing an economic strategy based on business relations with China, while also maintaining a more neutral foreign policy stance between the US and China.
Prabowo Subianto, the Defense Minister participating in the February 14 election, has pledged to build on President Joko Widodo's business-friendly policies, including increasing Chinese foreign investment more than eightfold during his 10 years in office.
"Given the positive economic relationship that Jokowi has built with Beijing, Chinese companies are likely to benefit the most," and these relationships "are likely to continue under Prabowo's leadership," said Dedi Dinarto, lead analyst for Indonesia at policy consultancy Global Counsel.
When Joko took office in 2014, he set an ambitious economic and infrastructure agenda, and with the passage of key business reforms, Indonesia grew at an average rate of 5% per year. During that time, China became one of the most important sources of investment, with Chinese investment in Indonesia totaling $7.4 billion last year, according to Indonesian government data. In comparison, direct investment from the United States was $3.28 billion.
Source: South China Morning Post
Indonesians are voting for their first new president in a decade, and opinion polls show the former general is determined to continue pursuing an economic strategy based on business relations with China, while also maintaining a more neutral foreign policy stance between the US and China.
Prabowo Subianto, the Defense Minister participating in the February 14 election, has pledged to build on President Joko Widodo's business-friendly policies, including increasing Chinese foreign investment more than eightfold during his 10 years in office.
"Given the positive economic relationship that Jokowi has built with Beijing, Chinese companies are likely to benefit the most," and these relationships "are likely to continue under Prabowo's leadership," said Dedi Dinarto, lead analyst for Indonesia at policy consultancy Global Counsel.
When Joko took office in 2014, he set an ambitious economic and infrastructure agenda, and with the passage of key business reforms, Indonesia grew at an average rate of 5% per year. During that time, China became one of the most important sources of investment, with Chinese investment in Indonesia totaling $7.4 billion last year, according to Indonesian government data. In comparison, direct investment from the United States was $3.28 billion.
Source: South China Morning Post
