When campaigning, presidential candidates will always promise a bright future in order to gain votes. It is particularly easy for a new presidential candidate to promise golden mountains as opposed to the incumbent president who needs to be more cautious making promises as people can point to the (failed) results of his promises during the presidential term. The 2014 Indonesian presidential election was particularly interesting as we saw two new presidential candidates and, thus, the ‘inflation of promises’.
Has been fascinated by Indonesian cultures and history since the very first time he stepped foot on Indonesian soil in mid-1998, just one month after Indonesia's second president, Suharto, stepped down from office at a time when the Asian Crisis ravaged through the country. He decided to do his Bachelor and Masters degrees in Southeast Asian Studies at Leiden University (the Netherlands) with a major focus on Indonesian society, history and linguistics. After successfully finishing his MA degree he taught Indonesian languages and cultures at a local university, while realizing the economic potential of the country in a world where the economic gravity point is shifting to the East. With having had a profound training in Indonesia's macroeconomic history at university, he started to delve into the contemporary economic condition of the country and through frequent visits to Indonesia established a network with businesses and government circles.
"One of the most important aspects of doing business in Indonesia is to comprehend Indonesia's culture of business."
|Institute||Business Consultant Indonesia Affairs|
|Position|| Owner | Director
|Expertise||Macroeconomy | Cultural Studies | History|
Columns of R.M.A. van der Schaar
Emerging currencies in Asia, led by the Indonesian rupiah exchange rate, strengthened in the past week on positive economic data from the US and China, the world’s two largest economies. Companies in the US added more jobs than expected in June 2014, while manufacturing in China grew at its fastest pace in 2014. Improving economies of the US and China are important for Asian countries as it boosts Asian exports. Moreover, Indonesian inflation and trade data contributed to positive market sentiments.
After the Indonesian rupiah exchange rate temporarily surpassed the psychological boundary of IDR 12,000 per US dollar on Wednesday (18/06), concerns about the fundamentals of the currency emerged. The currency has been under pressure recently due to external factors (monetary policy of the Federal Reserve and geopolitical tensions in Iraq) and domestic factors (large private debt, significant US dollar demand, the wide trade deficit and political uncertainty ahead of the presidential election).
General Director of Oil and Gas at the Indonesian Ministry of Energy and Mineral Resources Edy Hermantoro said at the 38th IPA Convention and Exhibition on Friday (23/05) that the Indonesian government plans to tender a total of 21 blocks of oil and gas in a first bidding round in 2014. This involves 13 conventional oil and gas blocks and eight non-conventional (shale) oil and gas blocks. The government expects that these oil and gas blocks will add 3.5 billion barrels of oil and 107.7 trillion cubic (tcf) of gas resources.
It had been speculated for a while, but yesterday the official declaration of Indonesia's presidential candidates and their running mates (the vice-presidential candidates) were presented. In the upcoming election, scheduled for 9 July 2014, Jakarta Governor Joko 'Jokowi' Widodo will face Prabowo Subianto, former army general and former son-in-law to president Suharto (Indonesia's second president), in a battle for the country's presidential seat. What is there to tell about this battle?