Indonesia: warning signs the growth story may be losing steam
I am big on Indonesia. Because by 2050, this country will be the largest Muslim economy in the world. Ahead of UK, France and Germany – three European powers which dominate the world today, see a table from BBC, below. And in my Future Leaders Programs, I present Indonesia as a case study to Pakistani and Asian youth and futurists as something worth investigating and following in more than one ways.
However, this week, Wall Street Journal has published a data which is worrying (above). With warning signs that the growth story may be losing steam. It’s the election week in Indonesia and I hope the new government will deal with all variables to get back on track.
WSJ writes that: Indonesia’s near trillion-dollar economy is at a crossroads as its presidential election approaches next week: Manufacturing wilted during a commodity boom that has now gone bust, and it badly needs to build ports, roads and power plants to reinvigorate growth.
It says: Foreign direct investment in Indonesia hit a record last year, but its growth has slipped, and at less than 3% of GDP, it lags regional powers like Singapore at more than 20% and Malaysia at more than 5%.
Full WSJ story here.
Also by Wali Zahid: How future oriented are we?