Jakarta (ANTARA) - President Prabowo Subianto emphasized that lasting economic growth depends on strong support mechanisms and mutual commitment from all elements of the country to nationalism.
"The nature of modern economy is that it does not progress or develop on its own. Growth is stimulated and sustained by nationalism," Subianto said, while quoting the economic theory of sociologist Professor Liah Greenfeld, in Bandar Lampung, Lampung, on Wednesday.
President Subianto made the statement at the 18th National Conference of the Indonesian Young Entrepreneurs Association (HIPMI).
According to him, such principle has been adopted by countries with major economic powers. He cited the historical examples of the economic revival of Japan, the United States, Western Europe, and China, attributing their success to a strong foundation of nationalism.
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Subianto also recalled the history of HIPMI's founding, which was inseparable from the spirit of nationalism. He noted HIPMI plays a significant role in producing leaders in the national community and economy.
Therefore, Subianto urged young entrepreneurs to cultivate a patriotic spirit in running their businesses.
On the occasion, he also highlighted the long-standing outflow of domestic capital to overseas markets, which has persisted for decades. He also asked entrepreneurs to invest their profits and savings domestically to help underprivileged communities.
The president considered this value of mutual cooperation is a key to national revival.
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Furthermore, Subianto also conveyed Indonesia's target as the fourth largest economic power in the world by 2045 through strengthening industry and utilising the domestic market independently.
Earlier, the government has mandated PT Danantara Sumberdaya Indonesia (DSI) to solely manage and supervise export transactions involving strategic natural resource commodities, initially focusing on coal, crude palm oil (CPO), and ferroalloys.
This measure is primarily intended to prevent under-invoicing, transfer pricing, and the misappropriation of foreign exchange from export proceeds.
Related news: Prabowo inaugurates hospital in Lampung to boost healthcare access
Translator: Aditya Ramadhan, Resinta Sulistiyandari Editor: Fransiska Ninditya Copyright © ANTARA 2026
Read the full article at Antara News →📄Source document: The Spirit of Capitalism: Nationalism and Economic Growth
5 reports
Antara NewsState / PublicRight11 days agoIndonesian President Prabowo Subianto urged young entrepreneurs to promote nationalism as a driver of economic growth during the 18th National Congress of the Indonesian Young Entrepreneurs Association (HIPMI). He referenced sociologist Liah Greenfeld's work, stating that nationalism stimulates sustained economic growth. Subianto linked the rise of global powers like Japan, the United States, and China to their nationalistic spirit and emphasized HIPMI's historical foundation rooted in nationalism.
Bias read (Right): The article frames nationalism as a central and positive force for economic development, aligning with conservative or nationalist ideologies. It emphasizes the role of national identity in economic success without critically examining alternative perspectives or potential downsides of nationalism.
Official sources cited
- press release The Spirit of Capitalism: Nationalism and Economic Growth
Tempo (English)IndependentRight11 days agoPrabowo Subianto, Indonesia's former general and current presidential candidate, stated that nationalism plays a crucial role in driving sustainable economic growth. He emphasized the importance of national unity and self-reliance in achieving long-term development.
Bias read (Right): The article presents Prabowo's perspective without counterpoints or critical analysis, emphasizing his claims about nationalism as a driver of economic growth. The framing aligns with nationalist rhetoric often associated with right-leaning ideologies, particularly in the context of leadership and '
Antara NewsState / PublicCenter11 days ago Prabowo reaffirms Indonesia's non-aligned foreign policyPresident Prabowo Subianto reiterated Indonesia's adherence to a non-aligned foreign policy during the 18th National Conference of the Indonesian Young Entrepreneurs Association (HIPMI). He emphasized Indonesia's desire to maintain constructive relationships with all nations while avoiding military alliances. Prabowo stated that this policy was inherited from Indonesia's founding leaders and remains crucial amidst global tensions. He highlighted Indonesia's positive relations with major powers such as the United States, Russia, and China, noting that many countries seek cooperation with印尼 due
Bias read (Center): The article presents a balanced account of President Prabowo's reaffirmation of Indonesia's non-aligned foreign policy without overtly favoring any particular political stance. It includes direct quotes from Prabowo and mentions his emphasis on maintaining relations with various countries without sl
Official sources cited
- government President Prabowo Subianto
Tempo (English)IndependentCenter11 days ago Prabowo: Indonesia to Reach Energy Self-Sufficiency by 2029Indonesian presidential candidate Prabowo Subianto stated that Indonesia aims to achieve energy self-sufficiency by 2029.
Bias read (Center): The article reports a statement made by Prabowo Subianto without editorializing or emphasizing any particular perspective. It does not include additional context or commentary that would indicate a clear ideological slant.
Antara NewsState / PublicRight11 days ago President says nationalism fuels long-term economic growthPresident Prabowo Subianto stated that nationalism is crucial for sustaining long-term economic growth, citing the economic theories of Professor Liah Greenfeld. He emphasized this point during the 18th National Conference of the Indonesian Young Entrepreneurs Association (HIPMI), noting that nations like Japan, the United States, Western Europe, and China have achieved economic success through a strong sense of nationalism. Subianto also mentioned HIPMI's historical ties to nationalism and encouraged young entrepreneurs to foster patriotism in their business endeavors.
Bias read (Right): The article frames nationalism as a driving force for economic growth, aligning with conservative or nationalist ideologies. The emphasis on patriotism and the historical success of economically powerful nations attributed to nationalism suggests a framing that supports nationalistic policies over a
Official sources cited
- statement President Prabowo Subianto's speech at the 18th National Conference of HIPMI
- statement Professor Liah Greenfeld's economic theory
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