JAKARTA — While global foreign direct investment (FDI) dipped in 2018 for a third consecutive year, Asia bucked the global trend with rises nearly across the board, including record inflows to Southeast Asia’s booming economies. New United Nations Conference on Trade and Development (UNCTAD) data released today (June 12) shows total worldwide FDI fell 13% to US$1.3 trillion in 2018, as global economic uncertainties grew over the US and China’s increasingly antagonistic trade and investment policies, particularly in strategic sectors such as digital and mobile technology. But “developing Asia”, a region encompassing most of the continent aside from wealthy countries such as Japan, saw a 4% rise in foreign direct investment to $512 billion, representing 39% of the global total, according to UNCTAD’s 2018 World Investment Report.
JAKARTA — As alcohol consumption rises across Asia, Indonesians, including local Catholics, appear to be oblivious to the region’s growing taste for a tipple, but Catholics elsewhere in Asia appear to be drinking more as incomes rise. New research published by The Lancet medical journal suggests Asia is the world’s booze growth market, as consumption is either leveling off or dropping in most other places. The report found that from 1990-2017, consumption increased by 104 percent across Southeast Asia and 54 percent in Western Pacific, going by to geographical regions designated by the World Health Organization (WHO). Some 79 percent of Indonesians are teetotalers, down from 84 percent in 1990, the data showed. This compares to over 90 percent of people who abstain from drinking for life in Afghanistan, Bangladesh and Pakistan, where Catholic charity Caritas has been working to help those young people who do fall prey to drug and alcohol addiction. “Muslim countries consume way less alcohol (than non-Muslim nations), and consequently (they have) substantially less of a problem drinking,” said Dr Jürgen Rehm from the University of Toronto, one of the authors of the report.
JAKARTA — As hundreds of millions of Asians enjoy higher living standards in the move from lower to middle class, a warning of the trend’s sustainability came this month from Europe, where middle class expansion has stalled. The Organization for Economic Co-operation and Development (OECD), a Paris-based club that includes most of the world’s wealthiest nations, reported that many of its member states have “seen their standard of living stagnate or decline, while higher income groups have continued to accumulate income and wealth.” The middle class crisis in the West means disappointment for those who hoped that standards of living would continue to improve, as was the case for their forbears during the four or five decades after World II. But more recent times have seen the top 10% of earners’ share of total wealth rocket to nearly half the national average — findings contained in a new OECD report, Under Pressure: The Squeezed Middle Class, that in turn paints a grim picture for the third of member state populations described as “economically vulnerable.”
JAKARTA — Joko Widodo looks set for a second term and final term as president of Indonesia, with unofficial early tallies putting him around 10 per cent ahead of challenger Prabowo Subianto, a former general who also faced off against Widodo for the presidency in the last vote in 2014. Widodo, known by his nickname “Jokowi,” did not claim victory on the back of the so-called “quick count” numbers released by several polling organizations during the afternoon after voting closed at 1pm. Greeting jubilant supporters at a Jakarta theatre, Widodo asked them to keep cool, despite previous elections’ early tallies usually proving accurate. “We’ve seen indications from exit polls and quick count results, but we must patiently wait for official counts,” he said. However, in another reprise of the 2014 contest, Prabowo declared himself the winner, citing his own campaign’s exit polls that he said put him over the 50 per cent mark. “There have been attempts from pollsters and surveys that we know of, cooperating with one side, to steer public opinion as if we have lost,”he told media and supporters as the early tallies emerged. In 2014, with the margin tighter at 6 per cent, Prabowo unsuccessfully challenged the outcome in Indonesia’s highest court, with supporters taking to the streets to back his claims. It is not clear if opposition supporters will protest again, with Prabowo cautioning against “anarchy” after voting closed. “My fellow countrymen, we must not be provoked,” he said.
JAKARTA — On Wednesday next week, perhaps the world’s most logistically-challenging elections will take place across Indonesia’s 3,000 mile wide, 13,000 island archipelago. Over 192 million people are eligible to vote at over 800,000 polling stations overseen by 6 million election officials, with roughly 245,000 candidates contesting around 20,000 seats for local and national legislatures. India’s elections, which started last week, entail much bigger numbers, around 900 million voters — the biggest elections the world has ever seen — but voting there is staggered and will run until May 19. Indonesia’s elections take place on a single day, April 17, and most eyes will be on the presidential race, a re-run of the 2014 contest between President Joko Widodo, known by his nickname Jokowi, and Prabowo Subianto, a former general.
JAKARTA — When Mahathir Mohamad’s Alliance of Hope coalition surprised the world — and perhaps even themselves — by winning last May’s parliamentary vote in Malaysia, it was not just the first-ever opposition election win in the country’s history. Some saw it as the result of the first “WhatsApp election,” where the platform’s encrypted private messaging provided a sanctuary for citizens to discuss politics away from the raucous finger-pointing of social media platforms such as Twitter and Facebook. WhatsApp “offered security in that messages would come from ‘trusted’ contacts and thus be more ‘believable'” than open services such as Facebook or Twitter, said Serina Abdul Rahman, whose election research for the Singapore-based ISEAS-Yusok Ishak Institute took her to rural areas in the south and north of Malaysia. Apprehension over commenting publicly was likely heightened by Prime Minister Najib Razak’s anti-fake news law, which was announced ahead of the elections. Some saw the law as a tool for Najib to avoid public discussion of corruption allegations related to the scandal-riddled sovereign wealth fund, 1MDB.
JAKARTA — Governments across Asia are seeking to bring millions of informal workers into regulated employment, and stem a major economic drag on the world’s fastest-growing region. Bangladesh, Indonesia and China have taken steps this month that could help formalize employment for a vast pool of workers that are struggling on the margins of their economies, many as self-employed merchants or agricultural laborers. The World Bank estimates that informal workers make up 47% of jobs in the East Asia and Pacific region, with the figure rising to between 60% and 80% in lower income countries such as Myanmar and Laos. The government in Dhaka last week signed a $250 million deal with the institution aimed at supporting efforts “to create large-scale, better-paid and inclusive jobs.”
Updating on the recovery operations in Indonesia after the Dec. 23 tsunami that hit the coast of Sumatra and Java, both sides of the Sunda Strait
JAKARTA — The sea rose up without warning Saturday night, crashing into coastal villages on Indonesia’s two most populous islands. It killed at least 220 people, washing away buildings, roads and a rock concert on the beach, officials said Sunday evening. The tsunami that struck the western tip of Java and the southern tip of Sumatra was believed to have been triggered by an underwater landslide from the flank of an erupting volcano. Officials in Jakarta said hundreds more people were injured and 30 were missing after the tsunami, the latest in a string of deadly disasters that have killed thousands in Indonesia this year. About 600 buildings were damaged, officials said. Soldiers and rescue workers moved quickly to clear roads blocked by debris; television and social media video showed survivors pulling at wreckage trying to find loved ones. “People are still afraid to go back to their homes since there were still rumors that a tsunami might strike again,” said Aulia Arriani, a spokeswoman for the Indonesian Red Cross.