The Economist magazine has identified 5 things that say that the upcoming elections in Indonesia are more important than the world thinks, because this country has all the ingredients to become one of the most influential countries in Asia, but Its current President, Joko Widodo, has long followed the tradition of non-alignment in foreign policy and closed policies. Inside.
The world's third-largest democracy will vote on February 14 to choose a new leader, the magazine reported, adding that the preferred candidate according to opinion polls is former General Prabowo Subianto, who has a terrible record on human rights. , while the other two candidates Anees Baswedan and Ganjar Prano are trailing behind him.
Starting with Indonesia's sheer size, the magazine presented 4 graphs and a map to show the immense potential the country holds. If a map were made of the vast archipelago on Eurasia, it would stretch from Ireland to Turkmenistan, and its population would be spread across thousands of islands, some of which are filled with farms and factories.
Indonesia's challenging geography has encouraged a boom in digital services, and the capital, Jakarta, has become one of the most successful incubators for new technology companies in Southeast Asia, with nearly four-fifths of Indonesians owning a smartphone, which Connecting the country more than ever.
Second: infrastructure and demography
Jokowi, as the current president is known, has built dozens of airports, ports, dams and hundreds of kilometers of toll roads, earning him the title of construction chief.
Indonesia's demography is part of its significant potential, as it is the world's fourth largest country in terms of population with approximately 276 million people, a quarter of whom are under the age of 15, and only 7% of whom are over 65. Are of more than. old, making it a huge consumer market.
Indonesia's 200 million eligible voters have nurtured a budding democracy. Nearly 100 million people watched the political debates ahead of this year's elections. Election rallies have become more issue-centric and less concerned with pomp and pageantry. This year's voter turnout magazine says expectations are high, but Prabowo's victory could jeopardize the country's democratic progress.
Third: One of the best performing economies in the world
Although Jokowi did not achieve the 7% annual economic growth he promised, Indonesia has been one of the best-performing economies in the world in recent years. It is the sixth largest emerging market in terms of GDP, and its per capita GDP is higher than that of India and Vietnam. If it continues on this path for the next decade, it could become one of the 10 largest economies in the world.
Despite all this, according to the magazine, Jokowi's successor still faces big challenges, as per capita GDP in Jakarta is expected to increase to about 19 thousand dollars in 2022, but in the neighboring Central Java province it will not exceed 3 thousand dollars. happened, and some remote islands are poor.
Fourth: Green Goods
Although commodities are the backbone of Indonesia's economy, and production of nickel used in electric car batteries exceeds the rest of the world, an analysis by The Economist magazine indicates that Indonesia is the fourth largest producer of green commodities in the world. Can become a big producer. , followed by Australia, Chile and Mongolia by the year 2030.
Indonesia aims to produce electric vehicle batteries with a total capacity of 140 gigawatt-hours in 2030. This total is equal to global production in 2020. It has banned the export of certain minerals, prompting multinationals to build refineries locally, a policy known as “shifting downstream”.
Fifth: A Theater for Great Power Competition
The magazine concluded that Indonesia's location, size, and resources would make it a key arena in great power competitions, especially since investment is coming from both the US and China.
However, the next Indonesian president will face two difficulties, the first of which is that if tensions between China and the US increase, tariffs or sanctions may affect the Chinese companies on which Indonesia depends, and the second is that That is the downstream transfer policy which is beneficial. Nickel could have adverse effects in other sectors such as the energy industry. Solar.