GYEONGJU, SOUTH KOREA - President Prabowo Subianto voiced the dangers of "selakahnomics" which will spread economic growth at the APEC Economic Leaders Meeting (APEC Economic Leaders) in Gyeongju, South Korea, Friday, October 31 local time.
In a forum attended by heads of state and government of 21 APEC members' economies, President Prabowo emphasized that the world is now facing threats that are not only economic in nature, but also moral and social, namely greed that is transformed into corruption, smuggling, fraud, and a cross-border dark economy.
President Prabowo also expressed concern over the increasing global tensions and the declining mutual trust among countries in the world, which jeopardizes economic stability.
However, President Prabowo emphasized that the Asia-Pacific region must not give up on this situation.
According to President Prabowo, APEC was founded on shared confidence in the importance of inclusive economic growth and fair cross-border cooperation. This principle, said President Prabowo, should not fade even though the world is being hit by uncertainty.
In his speech, President Prabowo also warned about challenges that are cross-border and require global solidarity to be addressed.
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