Editing Economy of Indonesia (section)

===China===
[[China–Indonesia relations#Trade and investment|Trade with China]] has increased since the 1990s, and in 2014, China became Indonesia's second-largest export destination after Japan.<ref>{{cite web|url=http://atlas.media.mit.edu/en/profile/country/idn/|title=Indonesia|access-date=20 November 2016|archive-date=1 April 2017|archive-url=https://web.archive.org/web/20170401221338/http://atlas.media.mit.edu/en/profile/country/idn/|url-status=dead}}</ref> Trade between China and Indonesia is on the rise, especially after the implementation of [[ASEAN–China Free Trade Area|ACFTA]] since early 2010. Indeed, while in 2003 trade between Indonesia and China reached only US$3.8 billion, in 2010 it multiplied almost 10 times and reached US$36.1 billion.<ref name="iisd">{{cite web
 |url        =http://www.iisd.org/tkn/pdf/indonesia_china_relations.pdf
 |title      =Indonesia – China Trade Relations: The deepening of economic integration amid uncertainty?
 |author     =Alexander C. Chandra and Lucky A. Lontoh
 |year       =2011
 |publisher  =International Institute for Sustainable Development
 |access-date =5 March 2013
 |archive-url=https://web.archive.org/web/20140610114237/http://www.iisd.org/tkn/pdf/indonesia_china_relations.pdf
 |archive-date=10 June 2014
 |url-status=dead
}}</ref> China's [[Reform and opening up|transformation]] into Fastest growing country in the 21st century has led to an increase of foreign investments in the [[bamboo network]], a network of [[overseas Chinese]] businesses operating in the markets of Southeast Asia that share common family and cultural ties.<ref name=FT>{{cite news|last=Quinlan|first=Joe|title=Insight: China's capital targets Asia's bamboo network|url=https://www.ft.com/content/67554d8a-920f-11dc-8981-0000779fd2ac |archive-url=https://ghostarchive.org/archive/20221210/http://www.ft.com/cms/s/0/67554d8a-920f-11dc-8981-0000779fd2ac.html |archive-date=10 December 2022 |url-access=subscription|newspaper=Financial Times|date=13 November 2007}}</ref><ref name="Weidenbaum">{{cite book|author=Murray L Weidenbaum|title=The Bamboo Network: How Expatriate Chinese Entrepreneurs are Creating a New Economic Superpower in Asia|url=https://archive.org/details/bamboonetworkhow00weid|url-access=registration|date=1 January 1996|publisher=Martin Kessler Books, Free Press|isbn=978-0-684-82289-1|pages=[https://archive.org/details/bamboonetworkhow00weid/page/4 4]–8}}</ref> However the free trade with China has caused much anxiety in Indonesia, since inflows of cheap products from China could harm Indonesian industry. Indonesian private sector and civil society organizations vigorously lobbied the Indonesian government and members of parliament, insisting that Indonesia should either pull out of the agreement or renegotiate its terms with Beijing.

China has remained on top of Indonesia's key major trading partners, serving as the country's largest export and import market. China serves as Indonesia's largest export destination after overtaking Japan and United States, reaching US$16.8 billion.<ref>{{cite news|title=China keen to work with Indonesia on BRI|url=http://www.straitstimes.com/asia/east-asia/china-keen-to-work-with-indonesia-on-bri|work=The Straits Times|date=10 February 2018|language=en}}</ref><ref>{{cite news|publisher=Indonesia Investments|title=Trade Balance Indonesia: $678 Million Deficit in January 2018 {{!}} Indonesia Investments|url=https://www.indonesia-investments.com/business/business-columns/trade-balance-indonesia-678-million-deficit-in-january-2018/item8605|work=www.indonesia-investments.com|language=en-gb}}</ref><ref>{{cite web|title=OEC - Indonesia (IDN) Exports, Imports, and Trade Partners|url=https://atlas.media.mit.edu/en/profile/country/idn/|website=atlas.media.mit.edu|language=en|access-date=30 June 2021|archive-date=13 June 2019|archive-url=https://web.archive.org/web/20190613210428/https://atlas.media.mit.edu/en/profile/country/idn/|url-status=dead}}</ref> China is also Indonesia's most important source of imports, reaching US$30.8 billion, or 22.7% of Indonesian imports in 2016.<ref>{{cite web|title=Top Indonesia Imports|url=http://www.worldsrichestcountries.com/top_indonesia_imports.html|website=www.worldsrichestcountries.com}}</ref> The balance however was in favour of China as Indonesia booked a trade deficit of US$14 billion in 2016.<ref>{{cite web|title=Indonesia's Top Trading Partners|url=http://www.worldstopexports.com/indonesias-top-15-import-partners/|website=World's Top Exports|date=26 December 2017}}</ref>

From China's perspective, since 2010 ASEAN as a whole has become its fourth-largest trading partner after the European Union, Japan and the United States. Among ASEAN member countries, Indonesia was China's fourth-largest trading partner, which, according to data as of May 2010 from the Ministry of Commerce of the People's Republic of China, amounted to US$12.4 billion, after [[Malaysia]] (US$22.2 billion), [[Singapore]] (US$17.9 billion) and [[Thailand]] (US$15.7 billion).<ref name="iisd"/> With China's economic rise, Indonesia has been intensifying its trade relationship with China to counterbalance its ties with the West.<ref>{{cite web|last1=Choiruzzad |first1=Shofwan |editor-first1=Prodita |editor-last1=Sabarini |url=http://theconversation.com/indonesia-forges-stronger-ties-with-china-to-boost-economy-34004|title=Indonesia forges stronger ties with China to boost economy|access-date=20 November 2016|date=19 November 2014 |doi=10.64628/AA.nadrsnew9 }}</ref> By 2020, China had become Indonesia's largest export destination.<ref>{{cite news |title=Indonesia Posts Largest Trade Surplus Since 2011 as Coronavirus Disrupts Imports From China |url=https://jakartaglobe.id/business/indonesia-posts-largest-trade-surplus-since-2011-as-coronavirus-disrupts-imports-from-china |access-date=15 June 2020 |work=Jakarta Globe |date=16 March 2020}}</ref>