Interview: Indonesian economist says Asia-Pacific can sustain growth with stronger cooperation, green transformation

"The Asia-Pacific still has strong potential for long-term growth," an economist said. "What is needed now is stronger regional cooperation to reduce non-tariff barriers, expand market access and promote digital transformation, renewable energy and sustainable trade."

JAKARTA, Nov. 6 (Xinhua) -- The Asia-Pacific remains the world's most dynamic economic region, but sustaining that momentum will depend on how well countries adapt to global headwinds and deepen regional cooperation, said an Indonesian economist.

"Over the past three decades, the Asia-Pacific has played a vital role as a major engine of global economic growth," Christina Ruth Elisabeth, a lecturer at the University of Indonesia's Faculty of Economics and Business, told Xinhua in a recent interview. "I believe this success comes from a mix of trade liberalization, deeper supply chain integration and rapid technological progress."

Elisabeth said Indonesia's economy has stayed resilient despite mounting global pressures. "Domestic consumption is strong, inflation is stable and new opportunities are emerging in digital and green industries," she said. "However, there are still challenges, such as attracting more high-quality investment, improving infrastructure and managing external pressures as global trade and capital flows remain volatile."

Across the Asia-Pacific, growth is slowing as higher interest rates, protectionist measures and geopolitical tensions disrupt supply chains. "Many economies are also grappling with aging populations, slower productivity growth and uneven progress in digital and green transitions," Elisabeth said.

Still, she sees room for optimism. "The Asia-Pacific still has strong potential for long-term growth," she said. "What is needed now is stronger regional cooperation to reduce non-tariff barriers, expand market access and promote digital transformation, renewable energy and sustainable trade."

This year's APEC theme, "Building a Sustainable Tomorrow: Connect, Innovate, Prosper," reflects that vision, Elisabeth said. "As the world faces more deglobalization and protectionist trends, the message of staying open and connected feels especially relevant," she said.

To build what she called the next "30 golden years," Elisabeth said Asia-Pacific economies should focus on productivity transformation, innovation and inclusive green growth.

"The region should strengthen supply chain integration, expand digital connectivity and keep trade policies open even as global fragmentation increases," she said. "That means investing in sustainable infrastructure, renewable energy and research, while also supporting small and medium-sized enterprises to promote inclusive development."

Elisabeth said China has played "an important and strategic role" in promoting economic development in the region. "China has helped strengthen regional integration by expanding market access, encouraging investment and improving infrastructure connectivity," she said.

She pointed to the Jakarta-Bandung High-Speed Railway as a key example of Indonesia-China cooperation. "It has modernized infrastructure, improved mobility and shown Indonesia's growing ability to adopt new technology," she said.

Looking ahead to China's role as host of the 2026 APEC meetings, Elisabeth said she hopes Beijing will prioritize "stronger supply chains, deeper digital integration and renewable energy cooperation."■