Asia?s Place in the World: 2010-2050

Looking at the uncertainties of world economy condition, how Asia countries, particularly Indonesia, are facing it? Are there any chances for Indonesia to withstand the uncertainties and finally become one of the countries with a strong economy? Carl Stern, Vice Chairman of Investment Banking at Goldman Sachs came to Universitas Pelita Harapan to give a lecture about Asia?s place as well as Indonesia?s growth in the next few decades.

Entitled ?Asia?s Place in the World: 2010-2050?, Carl opened his lecture with a brief explanation about United States of America economy condition. Even though the political and economy condition of ISA is still unstable, Carl thought that USA has already begun its recovery. This recovery is going to affect other countries? economy because there will be an increase in the investments? opportunities. The investments will further open the market and possibilities of increase in workers? income. Consequently, the middle-class will also have stronger purchasing power. Other countries will follow suit by boosting their purchasing but there is a risk, an account deficit.

Despite the apparent risk, Carl is optimistic that Indonesia could survive because Indonesia has a strong balance sheet from the export trading. He added, the probability for Indonesia to have a strong economy in the next decades is likely high. This statement is also supported by several factors such as Indonesia demographic characteristics where the birth rate is quite high thus creating an adequate number of young workforces that may contribute many innovations. These workforces are the one who play the role to make an idea that the economy want to generate. ?I want encourage you to think about innovation, think about the many possibilities, think about the opportunities created from it,? Carl added.