In the future, central banks around the world are expected to respond to economic turbulence by raising interest rates in a rather extreme and collective way. This, according to Speaker of the House of RepresentativesPuan Maharani, will have an impact on the economic downturn.
According to Puan, this turmoil will lead to a decline in the welfare of the world community. The economic crisis that extends to the social crisis. Therefore, various measures need to be taken across countries, especially those of the G20, to ensure that the supply chain of strategic commodities remains secure to meet national needs.
In addition to prioritizing the satisfaction of domestic needs and market interests, countries producing strategic raw materials are also expected to establish a common obligation to keep world stock needs stable. In addition, it is also necessary to work together in the provision of development stimuli that are transmitted for the purposes of domestic economic activities.
The G20 holds the first Joint Meeting of Finance and Agriculture Deputies
“For consumption and purchasing power to be sustained, the orchestration of the strength of the G20 countries, to accelerate economic transformation, both the digital economy and the green economy, is urgently needed in a tangible way,” Puan said in a statement. written statement received by Parliament on 5 October.
In addition, Puan also supports strengthening the implementation for the digital economy and green economy to become an inclusive economic ecosystem. He also mentioned Indonesia’s measures to strengthen various regulations to foster the digital economy and the green economy.
“This is done through the implementation of ease of doing business development, digital banking, carbon taxes and new and renewable energy,” he said.
The importance of developing multilateral collaboration
Puan detailed that the countries of the world need principles in effective collaborative working relationships between countries to respond to global economic turmoil and the orchestration of global development.
Starting with the commitments that can be put into practice, mutual trust, the prioritization of dialogue towards a shared agenda. It is also considered that this compromise can avoid an international system oriented solely to the wishes of certain great powers.
With a commitment like this, according to Puan, each country is expected to work together to build common strengths and not produce rivalry or domination. “Mutual trust, we must be able to show it through an equal relationship in a joint effort to achieve a solution in which everyone wins. We have to change the paradigm from winner-takes-all and zero-sum to win-win in relations between countries”, she added.
“The countries of the world need principles in effective collaborative working relationships between countries to respond to global economic turmoil”
Without trust, Puan believes that countries will continue to compete to maximize their respective benefits. Therefore, he hopes that the countries of the world give priority to dialogue and diplomacy to solve various global problems.
“A culture of peace and tolerance is increasingly necessary to strengthen interactions between nations and countries. Joint work between parliaments plays an important role in spreading a culture of peace and tolerance, which is increasingly necessary in the face of current geopolitical tensions,” Puan said.
