MUHAMMADIYAH.OR.ID, SURAKARTA – Amidst the rapid currents of globalization influencing diverse facets of the world, particularly the economy, the persistent challenge of poverty remains a global and Indonesian concern.
Despite the transformative impact of globalization, poverty rates continue to loom large. To address this issue, the Chair of the Muhammadiyah Council for Higher Education, Research, and Development Prof. Bambang Setiadji advocated turning attention to the Chinese experience, which has undergone remarkable economic transformation.
“China, with its expansive landscape and a population that has undergone substantial transformation, stands out as a noteworthy model,” said Prof. Bambang at the 9th International Summit on Science, Technology, Humanity (ISETH) 2023 at Universitas Muhammadiyah Surakarta (UMS) on December 5.
Prof. Bambang underlined that this transformation is deeply intertwined with the dynamics of digital economics, where the flourishing of monopolies and oligarchies is fueled by limitless user engagement and marginal costs approaching zero.
While recognizing that emulating China’s transformation may not be feasible, Prof. Bambang stressed the importance of strategic policy formulation for Indonesia. Proposing a focus on agriculture and technology, he introduced the concept of ‘Small is Beautiful’: Streamlining consumption patterns to resonate with the capacities of millions of Small and Medium-Sized Enterprises (SMEs), actively contributing to the digital landscape.
By advocating a shift away from unnecessary luxury consumption—such as high-end mobile phones and fashion—to more affordable yet functional alternatives, Prof. Bambang envisioned increased involvement of SMEs.
“This approach can generate more extensive employment opportunities, mitigate unemployment, enhance economic resilience, and crucially contribute to creating a more egalitarian and prosperous global economy,” said Prof. Bambang.
In summary, Prof. Bambang Setiadji urged Indonesia to draw strategic insights from China’s economic transformation, emphasizing sustainable development, technological innovation, and the empowerment of SMEs in navigating the complexities of the global economic landscape.
