However, it turns out that the economic theory of neoliberalism at the Faculty of Economics in the United States is similarly divided. Beginning with Saltwater Economist, Freshwater Economist, or other phrases like Chicago Economist and Berkeley Economist. All of this always returns to the fundamental lessons that are understood, notably economic neoliberalism, which is covered in the textbooks on Economic Principles, Macroeconomics, and Microeconomics. When it comes to the education of officials or managers in the economy/ finance in Indonesia, 38% are graduates of the United States, while 31% are graduates of the country.
So we must recognize that this neoliberal economic philosophy just covers the market economy and does not address the role of the state. So, what is occurring currently is that the Indonesian government’s perspective and policies are frequently at odds with Neoliberalism.
Conclusion
I think that China, as Indonesia’s main economic and financial trade partner, lessens the likelihood that Indonesia would ever stake a claim to sovereignty in the South China Sea conflict. In the future, the Indonesian government would continue to try to address territorial issues in the South China Sea through discussion while also working to build “ASEAN centrality.” The largest problem, though, is that ASEAN is not cohesive, making it open to US meddling.
The deal defining the “exclusive economic zone” in the South China Sea will be difficult for Indonesia and China to sign. The two nations must be able to develop deeper ties, particularly in maritime-based industries. I believe that the development of tighter diplomatic ties between the two nations in the field of marine economy may serve as a strong basis for resolving any territorial issues and fostering a promising future for the two countries in additional domains.
Read: The motive and potential course of the “Indo-Pacific Economic Framework” talks
M. Raihan Ronodipuro earned Master of Law in International Relations from the School of International and Public Affairs at Jilin University in China. He serves as an Associate Researcher in the Department of Politics and Security at the Center for Indonesia-China Studies (CICS). Raihan is now persuing a Master’s degree in Public Administration at Tsinghua University’s School of Public Policy and Management, Beijing.