Prabowo: No Economic Growth Without Nationalism

President Prabowo Subianto has stressed the importance of nationalism as the primary foundation for building national economic power. He delivered this message during a speech at the 18th National Conference (Munas) of the Indonesian Young Entrepreneurs Association (HIPMI) in Bandar Lampung on Wednesday, 10 June 2026. Prabowo assessed that HIPMI plays a strategic role because it was born from the spirit of nationalism, which forms the basis of a nation’s progress. ‘The birth of HIPMI with a nationalist outlook, as has been stated, is very important. There is no progress for a nation without nationalism,’ Prabowo said. He emphasised that this view on the importance of nationalism in economic growth is also acknowledged by global economic thinkers. ‘Even the grandfathers of capitalism, the teachers of capitalism themselves, say that economic growth can only come with nationalism,’ he stated. Prabowo then quoted the views of sociologist Liah Greenfeld regarding the relationship between nationalism and economic growth from the book ‘The Spirit of Capitalism: Nationalism and Economic Growth’ (2001). The book discusses in detail the characteristics of modern economic growth. ‘So, the characteristic of the modern economy is not self-sustained. It does not advance or develop on its own. Growth is stimulated and maintained by nationalism,’ Prabowo explained. According to him, various countries that have successfully achieved economic progress demonstrate the strong role of nationalism in their development. ‘So, brothers and sisters, Japan is advanced, America is advanced, Western Europe is advanced, China is now rising because of nationalism,’ Prabowo asserted. He further invited all participants of the HIPMI Munas to reflect on the application of nationalism within Indonesia’s economic system. ‘Let us ask ourselves. Is it true that our economic system is based on nationalism? Let us look with open eyes and hearts,’ he concluded.