Qimpetmleteque
Active member
In terms of percentage of GDP, our defense budget during Suharto era was actually higher. It's generally > 1% and reached >2% in the 1980's and even >3% in the 1970's.
After Suharto era we still tried to fix our economy after 1998 monetary crisis. So it's fully understandable. Also we reached $1 trillion economy only since 2017.
After Eyang Harto era, the commitment of all presidents in defense sector was no better. Every presidental era had own crises and challenges. SBY's had 2008 financial crisis, Jokowi had pandemic and global turmoil.
As I said before, this time is Jokowi opportunity to forge his legacy in defense sector by doubled his political will than his predecessors. Next year is his last chance. Although if we look at his track record, it's understandable if many have doubts.
I hate to say it, but it's more about China in general has been having worse economic performance in this early 2023 than period before, than us performing well.
Also you have to wait until a full year to make conclusion in terms of the trade balance. If you only look at monthly balance, after Covid we actually hit at least seven times/months (2020-2022) surplus trade balance with China. Unfortunately, in the end we always recorded trade deficit with China in those years.
Kak Parry can dig deeper into the Kemendag dasboard, then see the trend of Indonesia's exports to China over the last 5 years. Indonesia's export value has more than doubled.
If we see Indonesia export composition to China in last 6 years, 2 commodity sectors rose significantly:
1. Coal. Thanks to China-Australia trade war.
2. Metal industry, not machinery and electronics industry. Tiongkok investment in this sector has increased sharply in the last 8 years, more than US$ 2 B and this is most prominent sector. China is relocating its metal processing industry to Indonesia.
Sorry, I cant attach images and figure here. I wish I can show the data here better.
You brag about China weaponry after giving us measly $1.056 bil trade surplus in Jan-Feb 2023? Are you not aware that we've been giving them $130.7 BILLIONS in trade deficit since 2008?
They are the one who should spend more on Pindad, PT DI, PT PAL, etc products to counter their huge surplus instead of us buying from them.
I'm just underlining 'China loving president', or china puppet president. While economic performance shows the opposite, the trend is increasingly favorable for Indonesia.
Tabik, Kak Parry.