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Indonesia's Prabowo targets 'Nine Dragons' business elite for state control

By PulseAugur Editorial · [1 sources] ·

Indonesia's President-elect Prabowo Subianto appears to be targeting the country's wealthiest business families, collectively known as the 'Nine Dragons.' These influential conglomerates, with vast interests across various sectors, are facing increased pressure from Prabowo's administration. Analysts suggest this is part of a state capitalism strategy aimed at consolidating control over key exports and marshalling private capital for national projects. However, the success of this strategy may be limited, as these tycoons are deeply integrated into the Indonesian economy and the president still requires their financial backing. AI

RANK_REASON Policy shift and economic strategy by a national leader targeting major business conglomerates. [lever_c_demoted from significant: ic=1 ai=0.0]

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Indonesia's Prabowo targets 'Nine Dragons' business elite for state control

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Policy shift and economic strategy by a national leader targeting major business conglomerates. [lever_c_demoted from significant: ic=1 ai=0.0]
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58 days old
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · Johannes Nugroho ·

    Are Indonesia’s Prabowo and ultra rich ‘9 Dragons’ on a collision course?

    Indonesian President Prabowo Subianto’s push to reorganise Southeast Asia’s largest economy around a stronger, more interventionist state has put him increasingly at odds, analysts say, with the country’s so-called Nine Dragons. Known locally as Sembilan Naga, the label is a loos…

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