How Debt Broke Indonesia's Economy
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- Опубликовано: 25 окт 2024
- Indonesia once faced a huge debt problem. It's something that experts and leaders of the country wish they could have stopped - a tough time they certainly don't want to relive.
Narrated by Daniel
Video Edited by iyanbriandi
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I personally suffered from this crisis, altough being Indian and living in Europe.
I imported dyes (colors) from India into Europe, but South East Asian exporters undercut prices only to sell to have cash. They were destroying business in order to survive !
Anti competitive
Nothing compared to the suffering the ethnic Chinese endured when those stupid mobs took out their blame on them.
@@bravosierra2447 nothing as stupid mob, it was all planned to destroy indonesia economy, it same happen when pki happen it was planned, you can watch some documentery there about CIA plan furthermore even have some documen leak..
@@bravosierra2447 funny you mentioned about other'sb suffering when you blatantly downplayed oneside over other ....
1997 financial crisis, not only in Indonesia, many Japanese, South Koreans, Chinese people committed suicide, maybe 1000s of Southeast Asians committed suicide.
- There is a possibility that Mahathir will work with Jos Soros (Jos Soros has an office in Malaysia)
- the impact of Thailand's great crisis in 1997, a lot who committed suicide, even a family.
- Major reforms in Indonesia have an impact on overall changes in Indonesia
- Malaysia until now, the corruption of Mahathir still has a big impact.
- Singapore gains a lot from mahathir free water & Malaysia is short of water.
- only banknotes with zeros increase, there is a possibility we throw away 3 zeros (1 dollar = 15 rupiah)
Admin didn't see the impact of the 1997 economic crisis as a whole in Southeast Asia... they were wrong to only expose Indonesia, 1998 was the peak of Indonesia's reforms.
Corruption is too widespread among politicians.
It'll, however, grow by the sheer power of population as in China, India, and Brazil.
Even though I was born in 1999, I still ponder about this crisis once in a while.
Youre lucky kid.
@@harukrentz435 Yes, I consider myself a lucky person. Alhamdulillah
My sister was born a year from you but it is clear that we can experience all of this economy without age as long as we have sanity and have the best solution
Indonesia can grow more if it works on energy supply, ports and environment which is more welcoming to foreigners
Agreed. But in indonesia we have anti FDI especially anti china investor. I dont know why 😊
@@komeratparewa400 it is not a big country it just needs to protect is food and energy supplies to curb inflation and ports + factory + people to be export economy
@@komeratparewa400 because of china's debt trap diplomacy duh.
@@MarxBoi48 its just western propaganda. Do you believe it?😊😊😊😊
@@komeratparewa400 a lot of our trade with China is pretty one-sided. We export them precious natural resources while we mostly import trash chinese consumer goods which will be broken in a few years at best. We should be a little bit more protectionist while still open ourselves to foreign investors.
indonesia is big and resilient, this video is bad, greeting from vietnam.
Yup,
Its all about complaining withou bases
this is a history for us to to trust IMF, WB , US and EU. lessons learnt ✌️🌎🙏🇮🇩
It's actually really good study...
Hope that Indonesia doesn't go bankrupted like Sri Langka.
Please brother. Indonesia economy is sinking. As long as the president does not prove clearly that he can decrease debt each year, Indonesia will collapse economically. I am Indonesian and I love my country but the future is bleak
@@nurhendry5464so what is your base, show me proof that Indonesia's debt is decreasing please?
Progress on a macro scale, yes, but wealth distribution remains poorly managed. Gotta love how these small incremental improvements the lower economic class received managed to blind them from realizing that the regulations currently in place largely benefit corporations. In the end, not much has changed since 1997.
Not much? Are you sure? 😅
For me and my entire neighborhood it changed drastically. In 1990 to 2002 the entire neighborhood consisted only rows of shabby one storey wooden/bricks houses, only ONE SINGLE TV for the entire neighborhood, no family could afford motorbike let alone a car, and only a handfull of children went to school. Fast forward now, those shabby wooden houses entirely dissapear replaced with multiple storeys of decent sized houses, every family now enjoy what we called luxury in the past such as very big TV in almost every rooms in the house and ACs, every household has at least 1 car and multiple motorbikes, wifi, and every kids goes to school and university, we even enjoy family holiday at least once a year outside our small town. Im not sure where do you live, and i feel bad that you havent experienced changes, but we (our entire neighborhood) are grateful our lives changes for the better.
Indonesian Chinese learn those days in schools.. Never forget!
Good days
But as long as Indonesia is under Jokowi's administration, Indonesia has always been growing, and is the most stable economy in the world along with India. Maybe Indonesia's growth is just as usual because it only grows 5% every year. But I think it's better than other countries, which are experiencing contractions and minuses. Even now, developed countries have difficulty growing their economies, and they are always below developing countries after Covid 19
true. but Indonesia needs to diversify its economy because China's demand for rare earth has dwindled.
Indonesia right now is very much dependent on China and China's economy right now is in shambles(China is lying about their GDP).
China's manufacturing has dropped, unemployment rate is high. released data shows the truth on China's economy.
they are suffering from DEFLATION, since less and less people are buying - either cant afford or saving money.
chinese companies are losing profit by lowering their prices because the demands are low - deflation.
chinese companies are not making new stocks since they're at a loss - low demand for import materials since they're not making new ones
@@johnadams2409 why think too far, what we have to do is reduce imports from china that way we are always in surplus with china.
It must be remembered that the Indonesian economy has absolutely no influence on exports - imports
there is one more thing that is important we regulate the price of materials, just like Opec regulates world oil.
@@maumuapa4198ustru import untuk bahan/ alat industri harus ditinggikan . Tentu saja kalau bisa lebih tinggi export dari import .
Hanya 20 % dari GPD export indonesia .
Jadi ngk terlalu berpengaruh gejolak ekonomi global terhadap ekonomi indonesia.
@@maumuapa4198 Easier said than done !
I don't really understand this comment. It is common, unsurprising for developing country to have higher gdp expansion than developed economies due to its potential for growth and more room an improved financial instruments and institutions. Furthermore developing countries have higher younger population unlike developed economies that naturally have an ageing population.
I was born as Autism Spectrum Disorder in Indonesia. And I was actually different from others, while everyone has a low mindset and only logic thinking, I actually have an experience of doing something colorful and like making videos and even AMV.
I am from Indonesia...yeah this is a painful history from , and i that person seeing this happens real time in Jakarta from my high rise office. Do not ever trust too much to IMF, WB and US and EU. We have riots, economic meltdown , fire sales of banks and companies, , East timor riot and referendum, Malaysia stole two islands from our weakened armed forces, US sanctioning our military armaments. and 25 years later ? we rebuilt our economy back and let us compare figures ; Our GDP is USD 1.4 Trlllions ( GDP PPP ) is USD 4.4 Trillions ( bigger than UK, France and No 7 in the world ) 36 months continous Current account Surplus, a balanced govt budget, Investment grade sovereign bonds, Inflation yesr to date up to may is 1.1 % ( or 4 % year to year ), 5 % GDP growth, Military strength is no 11, less dependent on sanctuon prone US military eqp, free and independent press and social media, Joins RCEP, and pretty soon BRICS. Slow walk EU FTA ( too much conditions ) , passive watcher to US led IF, non aligned ( No QUAD, No military alliances and bases ) , member of G20.
Only idiot with too much time on their hand doing this absurd video . While it painfull experiences it do makes us stronger rhan ever nonetheless ...
Well thanks to 1998 financial Crisis We Indonesian People become extremely paranoid about our current debt to GDP ratio. As For Politicians, it becomes a weapon to garner Vote and Support 😆.
1997 crisis, 1kg pour milk before crisis 10k rupiah, when crisis 80k rupiah, this horrible for me have a baby that day.
But it's over, and hope never happened againt in the future.
Debt fueled growth? Sounds like the US, if you can call asset price inflation 'growth'.
Xina (China under XinJinPing (mad idiot)) is in this position albeit more extreme ... But on whole different level.
yes malaysia also got the same problem
Max BLR was 12%.
Indonesia have great GDP since Several Decades but as you observe their currency is weak and the people their suffer from poverty...why? Because only Businessman got rich in Indonesia while the citizens are not
go to villages, and see how they change fast after the Dana Desa program, followed by the erections of many BUMDes and their openly budget reports (APBDes). The problem is there are not enough manpower to help them conduct the business properly. If only the riches would help them on that.
You need to open your eyes and do more riset
At least we have a house to live and eat twice or three times, low cost of schooling and free medical... Imagine we live in US we will live in a street if have no money...
Yes. Our currency is weak, and maybe it is bad. BUT, maybe it's also good.
1) Weak currency makes imports expensive, so people tend to buy local products.
2) More people buy local products, it makes more jobs available in our country to meet the increasing demand
3) Weak currency also makes our exports cheaper to sell on international markets, so outsiders may prefer our products. So that the Indonesian economy can grow.
4) Tourist attractions become very cheap for foreigners. Many tourists want to travel in our country. Look at Bali. Bali is so popular that Foreigners think that Indonesia is in Bali lol
Isn't that good for the economy?
Tahun 98 hidup di perkampungan tidak terkena dampaknya.. Karena di kampung bisa swasembada pangan
Di kampung sukabumi tempat saya biasa beli ikan krismon thn 98... Entah kemana ikan itu sekarang 😂
@@bambamkitring6666 paling dilempar ke laut lagi😙
As a filipino, i didn't know that most asian countries suffered from worldwide financial crisis. Because at that time we were just emotionally invested to a nighttime teledrama😅😅
Indonesia’s problems are not unique. The former Soviet Countries, the Global South and the Muslim World are all facing the same problems. These problems can only be solved if the governments in these regions are more willing to embrace a civil society government, less authoritarian regimes as well as the separation of religion and the state. Unfortunately most of these countries are not that willing to do it as the leaders consider it as threat to their power.
Indonesian Export start growing again... Good job !
Not sustainable
BA also need to highlite how singapore foreign debt are 200% of their gdp ..
Singapore has high amount of foreign investment as well
Coming to America #LETSGOBRANDON
I have no idea who Brandon is but I hope he wins the race. Good luck.
The one who broke our economy was IMF not debt. Look at countries who accepted IMF bail out and all recipes that came with it (Thailand, S. Korea) and compare them to countries who refused to bugle on IMF demand like Malaysia. Till this very day they havent said sorry yet eventhough theyve acknowledged the grave errors.
Take this for example, The IMF told S. Korea to stop their exports, how were they going to gain money to run their economy let alone to pay for their debt? Good thing The S. Korean gov ignored the IMF advise and they managed to pay their debt.
I'm worried about Indonesia's reliance on Chinese Exports of Indonesian raw materials. Chinese manufacturers have dropped demands due to Chinese economic problems
Indo paid for f16 jets?
China is Slow Growthing and Vietnam in Q1 is decline to we agree if just trade with them but more economics dependent to them is resulting SriLanka 2.0
@@msdgroup9164 or... Like what china is doing, you increase your sales by deflating the prices. You get more sold but profit is lower.
That is the reason why China's GDP is fake. Theyre suffering from deflation and business are closing because profits are low. They got too much supplies they need to dispose. And because of that excess supply, theyre not manufacturing as much, hence, they dont need to import materials. (Some comes from indonesia)
One example is Chinese steel, theyre selling it really cheap now... Reports says at least 90% off (but may be an exaggeration).
Not only will it affect Indonesia's exports to china, but it will also affect Indonesia's steel industry as competition will be harsh vs chinese cheap steel
John Adams, Indonesia is the biggest palm oil producer, and US and EU sanction Indonesian palm oil based on flimsy enviroment ruling to help their own industry. China and India are the largest buyers of Indonesia eatable oil, and always buy on market value without coercion. Indonesian know who can be trusted and who have racists policy.
How come South Korea become one of the Southeast Asian countries ?
The narration is about Asian financial crisis where Indonesia was hit the most but also affected some other east and south east Asia nations included South Korea.
We all knows who was behind these messes, and it's not from the International Relationships
Too bad for Indonesia that they can't just do what America recently did. Just raise the debt ceiling...😅
😂
Scott Arhardt 🎉
Masa lalu biarlah berlalu
Tapi masa lalu pada hutang bisa kebawa sampe kesini hati hati anda berargumen
The Indonesian government under Jokowi always says that the Indonesian economy is getting better and better. I know it's a Joke
yes it is a joke during SBY with nothing to show and loosing two islands ( Sipadan , Ligitan) to Malaysia, raw material exporter ( no down streaming) , current account deficit. I rather choose Jokowi rather than SBY including the wannabes President Wan Abud and Prince Hambalang....never ever a Kdronite otherwise we return to 1998, an Charlie Chaplin Former VP with his dorna AR , is trying to raise the racial card again. Those 4 morons need to defeated hard in 2024. They are US and western lapdogs.
@@steveman888 SBY with 6% Growth is help Jokowi Archive More Worst Presiden is Megawati she should not in the Power and Mess for 3 years after sabotage GusDur Aceh Operation and Sell State Owned Company Asset is her mistake
@@anaskhoiri3653 from negative growth , yes anybody can do it and only export raw materials as per IMF and destroying companies like IPTN , right ? SBY is even hesitant to stop Nickel Ore export right, what kind of infrastructure projects does he deliver for 10 years in power ? what about current account deficits ? high growth as raw material exporter is easy job. We lost our manufacturing for export to Vietnam , Philippines , Thailand and Malaysia because he is lazy to improve investment climate, infrastructure investment and no guts to downstream our minerals even though there is a law in place. The 5 % growth is sustainable because of Pak Jokowi ministers are able to deliver a strong fiscal and monetary policies combined with clear roadmap for a new type of industrialization ( digital, green, industry 4.0) programme for 30 years long-term sustainable growth with modern infrastructure We should be grateful to him for his 10!year leadership. We can feel the growth State assets has grown to USD 900 Billions. Our GDP PPP is already at usd 4.4 Trillions. Investors come if we have a consistent, transparent and business friendly economic policy, political stability , open and non discriminatory.against religion, race and country. This is how we can move forward. SBY and Cendana cronies are passe and dead on arrival for all right-minded Indonesians who are infected by " kdronite virus" , which I believe are more contagious than COVID, because it will render our citizens dull, backward and have slave mentality.
@@steveman888 why you not blame megawati? You are Soekarnoist Bias PDIP Buzzer 😂 I seen on neutral side though 😂
@@anaskhoiri3653 SBY for me is US lapdog ( sorry) and the Duo Wan abud and Prince hambalang are western puppies. Megawati got to sell state assets to repay IMF loan because of Suharto mismanagement. If not for Megawati , we won't get Jokowi . I am glad the duo Kdronites are dead on arrival of being the next candidate. I do not mind Prabowo or Ganjar as long as not the duo kdronites. Megawati was elected as president because of Amin " dorna" rais coup d'etat, are you really dumb not to know. SBY was heavily backed by the US.
1997 financial crisis, not only in Indonesia, many Japanese, South Koreans, Chinese people committed suicide, maybe 1000s of Southeast Asians committed suicide.
- There is a possibility that Mahathir will work with Jos Soros (Jos Soros has an office in Malaysia)
- the impact of Thailand's great crisis in 1997, a lot who committed suicide, even a family.
- Major reforms in Indonesia have an impact on overall changes in Indonesia
- Malaysia until now, the corruption of Mahathir still has a big impact.
- Singapore gains a lot from mahathir free water & Malaysia is short of water.
- only banknotes with zeros increase, there is a possibility we throw away 3 zeros (1 dollar = 15 rupiah)
Admin didn't see the impact of the 1997 economic crisis as a whole in Southeast Asia... they were wrong to only expose Indonesia, 1998 was the peak of Indonesia's reforms.
r u crazy mahathir work with George Soros.. thats a lie. Even our Ringgit Malaysia was attacked and Mahathir PM that time was smart enough to protect it. Pls dont spread rumors when u dont know the truth. At that point of time, we didnt use IMF. And singapore didnt get free water. What rubbish r u talking about.. omg!
is this video made by chatGPT?
repetitive points happen on the last few minutes. wtf
That's what would exacly always happen if your dollarized country has a western hegemony puppet govt and carry out a capitalism or neoliberalism economy while you're country isn't a kind of anglo saxon controled state
Philippines is next! Syempre wag tayo papatalo 💪💪
Marcos senior economic growth during his term was also based on borrowing. Fortunately the next administrations after him learned from it and became cautious when it comes to borrowing. Pero madaling makalimot ang pinoy.
it says a lot what kind of FIlipinos are with that kind of attitude from your own country
economic managers of Philippines was expert handling financial management
Sorry hindi naman msyadong naapektuhan financial institution natin. Because we have own gold reserve
American debt trap 😅
This is old news and of little value, wonder why it keeps appearing on my timeline
What a joke, youtuber using fake data just for your content, shame on you
Was very much lower thought
Hi? ._.
Why 10 days ago
@@terraspace1100 why not
@@rizkyadiyanto7922 Bro doesn't like time travellers.
what !?
You forgot to mention George Soros
Stop identifying Indonesia as being totally a part of Asia
This is what happens when religion is more important than economy. Maybe Iran can bail them out since they seem so interested in the area
And Syria ..,back when they where rich they never been to us nor invest to us 😅
Are you sure you understand what you are saying?
Not the religion itself but the people of misunderstanding and wrong implementation of religion teachings
You keep blaming religion, while the problem are human who doing corrupt politican
this is what happen when you run your mouth without knowing what really happen. in fact, at soeharto regime religious party are more opressed and silenced than now.