When the majority of Southeast Asian countries began to enact more aggressive responses to the novel coronavirus, Indonesia turned a deaf ear to virus mitigation efforts. As it had no confirmed cases of the coronavirus as of February, Joko Widodo鈥檚 (Jokowi) government instead kept pushing extensive economic reform agendas. It submitted a 1,028-page Job Creation Omnibus Bill on 12 February, calling the bill the country鈥檚 third great structural reform program after the聽 1998 International Monetary Fund鈥檚 (IMF) Letter of Intent and the 1967 Foreign Direct Investment Law. Despite criticism from the opposition, the president insisted on this neoliberal agenda, claiming that the objective of the bill is to promote more foreign direct investment (FDI) in the manufacturing sector and thus create more jobs.聽
What effects do neoliberal policies have on political and economic life in Indonesia and state-capital relations in particular? This blog post follows David (2006) in taking a historical-geographical approach to investigate this question, with a focus on policies put in place in the current president Jokowi鈥檚 second term. For , such a bold move to deregulate the economy signals the resurgence of state-led development in a new form. Put differently, what this article would like to argue is that deregulation, an all-encompassing hegemonic ideology rather than simply a policy, has become some sort of 鈥榖anner to unite under鈥� for the ruling capitalist class in Indonesia.聽Read More »
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