"The world is not merely changing, but it is being disrupted," President Jokowi noted in his speech at the Annual Session of the People’s Consultative Assembly of the Republic Indonesia 2019 on Friday.
President Jokowi assessed that disruption can lead to the creation of new business patterns and also spell an end to old ones.
"Some old business patterns have suddenly become obsolete. Moreover, new business patterns also emerge. Established skills have suddenly become irrelevant, and new skills have become the need of the hour," the president noted.
This fact creates sharp competition and raises tensions in trade wars, but the president has urged Indonesia to not harbor fears over the competition.
"We face competition with creativity, innovation, and speed. Hence, there is no other choice left but for us to change," he stated.
Further, new strategies must be formulated to capitalize on markets that are also distorted.
"Old ways that are not competitive cannot be continued. New strategies must be created. New ways must be adopted," the president stated. Related news: Indonesian SOEs encouraged to expand globally: Jokowi
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Translator: Azis Kurmala
Editor: Azizah Fitriyanti
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