Chairul Tanjung Talks about Present Global Economy

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Prof. Dr. (HC) Chairul Tanjung during public lecture in fajar Notonagoro Hall, Monday March 21. (Photo: UNAIR NEWS)

UNAIR NEWS – Professor of Faculty of Economics and Business Universitas Airlangga (FEB UNAIR), Prof. Dr. (HC) Chairul Tanjung presented a public lecture ‘Dinamika Perekonomian Global dan Dampaknya Terhadap Perekonomian Nasional (Global Economy Dynamics and their Effects on National Economy)’, on Monday March 21. The lecture held in Fajar Notonagoro was attended by hundreds of FEB UNAIR students from bachelor to doctoral degree.

“Today’s economy is borderless. So a country cannot be independent without any influences from others,” said CT opening the public lecture. In his opinion, global economic condition must affect our national economy.

The former Chairman of National Economic Committee (KEN) considered present global economy as an aeroplane which the engines are having problems. The powerhouse of global economic development like China, BRICS, Europe, Japan, and The USA are facing challenges in moving their economy.

“This is what caused present global economy was full of uncertainty,” he added.

Negative interest rate which is not common was applied in the present economic policy had been adopted by Japanese central Bank and Europe Central Bank.

“The objective was clear, to prevent money saved in a bank but channeled it to the market so the economy develops,” he said.

Quantitative Easing (QE) policy which was stopped by American Central Bank of The Fed caused the foreign capital went away from developing countries like Indonesia, the falling price of main commodity especially oil contributed to the depression on global economy.

Related to the national economy, CT said that our national economy currently is getting better.

“The worst is over, but recovery is not fast enough. Our economic condition in the future won’t be worse from 2015, but the recovery is too slow,” said the billionaire who owns CT Corp.

Related to infrastructure development which is massively done by the government is indeed essential but it cannot be considered as the main variable to achieve target of economic growth.

“The portion of state spending for economic growth was low,” he said and explained that all this time national economic growth was mostly caused by domestic consumption sector. Therefore, he believed that one thing the government also needs to do to achieve the target of economic growth is by creating good business climate.

With the economic challenges right now, the bachelor of dentistry which turned into a businessman reminded the need of experienced ‘pilot’ in formulating economic policies. He emphasized that it is important for the government to ensure food price stability for the people.

“That’s the key. Eventhough we have to admit that it is the most difficult job in the world,” said the former coordinating minister of economy.

In the end of his lecture, CT spread optimism by saying in every crisis creates opportunity. He encouraged the government to stick to ’thousand comrades, zero enemies’ strategy. As a ‘small boat’, Indonesia should work well with all countries in the world and should not lean closer to a certain ‘big boat’ as it would rock the national economy. (*)

Author : Yeano Andhika
Editor : Nuri Hermawan

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