Jakarta, Indonesia Sentinel — President Joko Widodo raised concerns about China overproduction, which has left many countries fearing their domestic markets could be flooded with cheap Chinese imports. Speaking at the 39th Trade Expo Indonesia, themed “Build Strong Connection With The Best of Indonesia,” held in BSD City, Tangerang, on Wednesday October 9, Jokowi addressed the potential risks posed by China’s massive production output.
“Many countries are starting to worry and are preparing to protect their domestic markets from the influx of cheap Chinese products,” Jokowi stated.
As the fourth most populous country in the world with a large domestic market, Jokowi stressed that Indonesia must be able to defend its own market from this external pressure. In addition to the challenge posed by an influx of low-cost Chinese goods, he urged Indonesia to brace for the impact of a sluggish global economy and ongoing trade wars.
Global economic conditions remain fragile, with slow growth affecting trade performance worldwide. “The global economy is still growing at a slow rate, around 2.6% to 2.7%, and inflation continues to haunt many countries. Global inflation is estimated at 5.9%, while conventional and trade wars are still ongoing,” Jokowi explained.
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This slow recovery has prompted countries to implement trade restrictions, with Jokowi pointing out that at least 19 nations are currently imposing such measures, further stalling global trade volumes. However, he also emphasized that these restrictions present an opportunity for Indonesia.
“When many countries are imposing restrictions due to trade wars, I believe there is an opportunity,” he said. Jokowi urged Indonesia to market its own products aggressively, both domestically and internationally, seizing this moment to expand into new markets.
Furthermore, Jokowi noted that high inflation in other countries could also provide an opening for Indonesia to broaden its trade and export sectors. “We must seize this momentum to drive higher export growth, improve the quality and competitiveness of our products, and expand into larger markets,” he added.
He also highlighted the importance of moving away from conventional marketing strategies, emphasizing the need to embrace digital tools in the era of digital commerce to boost product promotion and marketing efforts.
President Joko Widodo emphasized the need for Indonesia to protect its domestic market from China Overproduction rising issue, while also preparing for the challenges of a sluggish global economy and ongoing trade wars. He highlighted the opportunities presented by global trade restrictions and inflation in other countries, urging Indonesia to strengthen its export efforts and improve product competitiveness
(Raidi/Agung)
