Ternyata Ini Rahasia China Bisa Jadi Negara Paling Tajir ke-2 di Dunia

It turns out that this is the secret of how China can become the second richest country in the world.

Dream - Minister of Finance Sri Mulyani Indrawati openly revealed the secret of how China can become a developed country. Currently, China is the world's second-largest economy.

"China (Republik Rakyat Tiongkok or China) has become the second largest economy in the world because it utilizes globalization. Joining the WTO, attracting a lot of FDI (Foreign Direct Investment), exporting its products to all countries, especially Western countries,"

said Sri Mulyani, quoted from Liputan6.com, Thursday 23 October 2023.

According to Sri Mulyani, with the strategy being implemented, China is now able to significantly reduce poverty. "In that situation, capital in-out, trade in and out, and this has caused China, which used to be one of the countries with high poverty, to now have a sharp decrease in poverty," she explained.

Apart from China, Sri Mulyani also highlights India, which is now starting to catch up in the process of becoming a major economic country in the world.

"Indonesia, (country) ASEAN as well. We utilize globalization in order to attract FDI, advance our exports, create jobs, and improve the economy as well as welfare,"

say Minister of Finance.

However, Sri Mulyani reminded that currently the country is more focused on investment. "Now countries don't want to export-import, FDI. Now they will only do investment and export-import only with their friends. If in the past it was called globalization, now it's called fragmentation," she said. "If in the past it was called offshoring, now it's called friend-shoring," added Sri Mulyani.

In the general lecture at Diponegoro University, he reminded students that the global economy is facing various challenges and shocks, one of which is the issue of oil prices. These challenges include geopolitical turmoil, aggressive interest rate hikes in the United States, and inflation spikes in European countries.

"Oil prices are going to rise to USD 100 and then there will be a war. Now the United States also doesn't have a House Speaker, so they can't control fiscal matters," he said. "America says 'I want to raise interest rates.' It's like sneezing, but all the neighboring countries catch the flu because of how powerful (the interest rate move) is," said the Minister of Finance."

Therefore, Sri Mulyani explained again, the state budget (APBN) is present to maintain stability and equal distribution in the Indonesian economy amidst global uncertainty. "The state budget as an instrument becomes a way to stabilize, not always possible, but it has a function as countercyclical. If the economy is too overheated, then it (the state budget) tries to cool it down, if the economy is declining, then it is pulled up, using instruments such as taxes, revenue, expenditure, and financing," explained Sri Mulyani.

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