Indonesia still adhering to social justice-oriented economy, says Yudhoyono

Jakarta (Antara News) - President Susilo Bambang Yudhoyono has said Indonesia still adhered to an economic system marked by social justice even though the world had entered the globalization era.

"In accordance with the consensus reached among our founding fathers, the economic system we adhere to is still social-justice-oriented, not capitalistic nor communistic," Yudhoyono said in his address at a function to observe the 60th National Cooperative Day in Nusa Dua, Bali, on Thursday.

Present at the event which has brought together 2,500 cooperative members were Cooperatives and Small and Medium Enterprises Minister Suryadarma Ali, Trade Minister Mari Elka Pangestu, Culture and Tourism Minister Jero Wacik, Cabinet Secretary Sudi Silalahi, Indonesian Cooperatives Council (Dekopin) chairman Adi Sasono, and former State Enterprises Minister Sugiharto.

On the occasion, the president said that many parties had asked what kind of system was being applied by Indonesia in runnin its economy.

"Under present developments, there is what is known as a neo- liberalist economic system or liberalistic economy. But this system is not our choice because it is in principle free-trade-oriented and frequently considered a distorted imitation of another country`s economic system," the president said.

There also was the capitalistic system where the economy was running based on market mechanisms and marked by efficiency and competition.

"But in reality the liberalistic and capitalistic systems are unable to improve the economy or reduce imbalance among the people. The communistic system which does not believe in market mechanisms also failed to reach its goal," he said.

Therefore, the president said, the globalization era should be understood as putting a premium on equitable coooperative partnerships that are beneficial to the economy and the nation.

He said, 10 years ago the Indonesian economy was at rock bottom because of the crisis that had sharply increased the country`s poverty and unemployment rates as well debts.

However, the president added, the post-crisis economic growth had entered a new period and for the first time since the crisis reached 6 percent. (*)
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