Economic nationalism

The present rupiah crisis, and the impact that it has on the country's economy holds many positive aspects, provided we have the ability to face them with a cool head and good calculations. Also, a certain political will must be present among the authorities concerned.

The present currency crisis -- a relatively new phenomenon in our nation's economy -- clearly demonstrates the link that exists between many of the goods and services that we use and the economies of other countries. That is to say, a certain amount of foreign exchange must be submitted to the countries in question.

We hope that under the circumstances, all of us can start using more of our own domestic products and/or funds and restrict borrowing. The era of globalization, which is now at our doorstep, is no obstacle to our giving preference to our own homemade products. The time that we still have (before the new era arrives) should be used to bolster our position.

A campaign seems to be needed to bring home to our people the fact that each and every purchase of a foreign-made product means adding to the unemployment rate in our own country. It also means the squandering of foreign exchange. The private business sector should reciprocate by increasing the quality of the goods they produce.

Meanwhile, the present fluctuating rate of the rupiah confronts our private sector with a situation whose outcome is difficult to predict. What is needed at present is an ability to adjust, while the government should put an end to the currently prevailing high-cost economy.

-- Bisnis Indonesia, Jakarta