Why Indonesia Is Chasing China’s Billions
China’s investment in Indonesia has more than doubled since 2015 as President Joko Widodo’s five meetings with Xi Jinping in the past two years start to pay off.
“China is now the No. 3 investor in Indonesia behind Singapore and Japan, overtaking the U.S. this year, as the world’s second-largest economy looks to shift more of its excess manufacturing capacity offshore. It reflects China’s deepening ties with Indonesia after becoming the nation’s biggest trading partner five years ago and is a win for Widodo as he pushes ahead with an ambitious program to build roads, ports and railways.”