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Indonesians confident East will takeover US in innovation: Survey

Jakarta Post - August 2, 2019

Norman Harsono, Jakarta – At least 64 percent of Indonesian professionals are confident that China and India will overtake the United States as "global hubs of tech innovation" by 2035, an indicator that Indonesia will lean ever closer to the eastern powerhouses over the coming years, according to Bloomberg's New Economy survey.

The confidence level of Indonesian professionals is higher than that of professional worldwide (54 percent), professionals in developed economies (49 percent), which includes the US, and even professionals in China itself (40 percent), the survey indicates.

Bloomberg chief economist Tom Orlik said in a statement on Thursday that the survey results only reinforced what was already "palpable on the streets of Beijing and New Delhi".

"Professionals in the new economies are clear-sighted on the shift in the center of global economic gravity. As they move to seize the opportunities represented by new markets and new technologies, the flow of talent and capital will accelerate the new economies' rise," he said.

Bloomberg's survey, which involved interviews with 100 full-time professionals in Indonesia in April, also found that 39 percent of global professionals expected Beijing to become the most technologically advanced city in the world by 2035.

Spurring Indonesian confidence, Chinese annual investments into Indonesia quadrupled from $628 million in 2015 to $2.4 billion last year while India's increased more modestly from $57.18 million to $82.12 million in the same period. Last year, China was Indonesia's third largest foreign investor while India was twenty-fifth. (hen)

Source: https://www.thejakartapost.com/news/2019/08/02/indonesians-confident-east-will-takeover-us-in-innovation-survey.html