When a Great Nation Misidentifies Itself

There is something intriguing in the way the Indonesian nation reads its own economic condition. When the rupiah weakens by a few per cent, some people speak as if the country is on the brink of crisis. When the stock market corrects, a conclusion emerges that investors have lost confidence. When purchasing power feels weakened in some sectors, a belief arises that the national economy is heading towards decline. Yet strangely, when economic growth remains around 5 per cent, the trade balance still records a surplus, investment continues to flow in, and various strategic projects continue to run, some of the same people still feel that something is collapsing.

On the other hand, there is also a group that sees economic growth, investment, infrastructure development, and various relatively good macro indicators, then concludes that everything is fine. They consider public anxiety to be excessive. They regard the various pressures felt by society as merely temporary disturbances.

In fact, both are making the same mistake. They are both reading Indonesia partially. One sees the shadows and mistakes them for reality. The other sees the light and assumes there is no darkness.