Jokowi Hopes China's Belt and Road Initiative Won't Lead to Losses

Translator

Dewi Elvia Muthiariny

Editor

Laila Afifa

Rabu, 18 Oktober 2023 17:34 WIB

President Joko Widodo or Jakowi and Chinese President Xi Jinping (right) witnessed the MoU signing by the ministers at the Great Hall of the People in Beijing, China, Tuesday, October 17, 2023. ANTARA FOTO/Desca Lidya Natalia

TEMPO.CO, Jakarta - Indonesian President Joko Widodo or Jokowi expected China's Belt and Road Initiative (BRI) to be based on the principle of equal partnership and shared benefits. He highlighted the importance of synergy in the BRI, which gives host countries room for ownership in the implementation of their projects.

“The long-term sustainability of BRI projects must be ensured and strengthen the economic foundation of partner countries instead of complicating their fiscal conditions,” Jokowi said at the opening of the Belt and Road Forum Summit in Beijing on Wednesday, October 18, 2023.

The BRI is a global infrastructure and energy development plan launched by China a decade ago to connect Asia with Africa and Europe by land and sea. Critics, however, see the initiative as a tool for China to expand its geopolitical and economic influence. The BRI has been called a reinvention of the ancient Silk Road Economic Belt, which was aimed at boosting global trade.

China's Foreign Ministry recorded that more than 150 countries, including Indonesia, and more than 30 international organizations have signed the Belt and Road cooperation documents.

Indonesia’s first high-speed train, known as Whoosh, is part of the BRI. The recently launched national strategic project under the China-Indonesia joint venture cost more than US$7 billion.

It was initially expected to cost less than US$5 billion and be completed by 2019. However, delays arising from construction challenges and the COVID-19 pandemic resulted in ballooning costs.

Some economists assessed that the high-speed train project is a financial burden on taxpayers when it should be able to be commercially independent.

Today, Oct. 18, is the last day of Jokowi's visit to China. Before attending the Belt and Road Forum Summit, he had met with business people, Premier Li Qiang, and President Xi Jinping on separate occasions.

DANIEL A. FAJRI

Editor's Choice: Jokowi to Attend Belt and Road Forum in a Visit to China

Click here to get the latest news updates from Tempo on Google News

Related News

Today's Top 3 News: IA-CEPA Boosts Indonesia-Australia Trade by Up to 90%

4 jam lalu

Today's Top 3 News: IA-CEPA Boosts Indonesia-Australia Trade by Up to 90%

Here is the list of the top 3 news on Tempo English today.

Read More

Bird Flu Found in Western China as US Combats Cattle Outbreak

4 jam lalu

Bird Flu Found in Western China as US Combats Cattle Outbreak

Cases of bird flu have been confirmed among wildfowl in western China, the agriculture ministry said on Saturday, May 18.

Read More

Indonesia's Jokowi Revises Import Regulation to Prevent Piles at Ports, Here Are the Provisions

11 jam lalu

Indonesia's Jokowi Revises Import Regulation to Prevent Piles at Ports, Here Are the Provisions

Indonesian President Jokowi has revised the tightening import regulations previously issued by the Ministry of Trade.

Read More

Philippines to Vigorously Defend Territory, President Says

12 jam lalu

Philippines to Vigorously Defend Territory, President Says

China claims almost all of the South China Sea, a conduit for $3 trillion in annual ship-borne trade, including parts claimed by the Philippines.

Read More

Jokowi, Sri Mulyani Hold Meeting on Import Restrictions

1 hari lalu

Jokowi, Sri Mulyani Hold Meeting on Import Restrictions

President Joko Widodo or Jokowi held an internal meeting on Friday afternoon to discuss the policy on import restrictions.

Read More

Jokowi, David Hurley Discuss Efforts to Enhance People-to-people Ties

1 hari lalu

Jokowi, David Hurley Discuss Efforts to Enhance People-to-people Ties

Indonesian President Jokowi and Australian Governor General David Hurley held a bilateral meeting today, May 17, at Bogor Presidential Palace.

Read More

Jokowi Congratulates Lawrence Wong on Inauguration as Singapore PM

1 hari lalu

Jokowi Congratulates Lawrence Wong on Inauguration as Singapore PM

Jokowi thanks former PM Lee Hsien Loong for his contributions to strengthening bilateral relations between Indonesia and Singapore.

Read More

Jokowi Welcomes Visit from Australia's Governor-General David Hurley in Bogor Palace

1 hari lalu

Jokowi Welcomes Visit from Australia's Governor-General David Hurley in Bogor Palace

Jokowi receives a state visit from Australian Governor General David Hurley at the Bogor Presidential Palace on Friday morning, May 17, 2024.

Read More

The Risk with Free Lunch Program

1 hari lalu

The Risk with Free Lunch Program

A number of Jokowi's ministers are busy producing simulations of the free lunch program. There is a risk it will become a cash cow.

Read More

Prabowo Says He Won't Lead Indonesia in Military Style But in His Own Way

2 hari lalu

Prabowo Says He Won't Lead Indonesia in Military Style But in His Own Way

Indonesian President-elect Prabowo Subianto stressed that a military leadership style is no longer relevant.

Read More