Is Indonesia's President Prabowo poised to become the next Putin? Lately, he’s been busy tackling a major issue: launching a campaign against the long-established Chinese-Indonesian business conglomerates deeply entrenched in the domestic economy.
He has openly declared: natural resources must no longer be "stolen" by outsiders—palm oil and coal exports must go exclusively through state-owned enterprises. On the surface, this is about economic reform and fulfilling campaign promises. But to anyone with eyes open in Indonesia, it’s clear this isn’t just a simple economic overhaul—it’s clearly aimed at dismantling the political-business elite known as the “Nine Dragons,” who rose to power during Suharto’s era.
The “Nine Dragons” are a political legacy left behind by Suharto himself. These individuals wield immense influence, controlling vital sectors from aviation and finance to mining. Though Suharto has fallen, they’ve continued thriving. Now, Prabowo aims to set rules for these defiant “old guard” figures—and even purge a few troublemakers. Does this plot sound familiar? It’s essentially a replay of Putin’s earlier crackdown on Russian oligarchs.
Moreover, Prabowo holds strong cards. He enjoys backing from Indonesia’s military, much like how Putin once relied on intelligence and security agencies to consolidate power. But Indonesia’s “Nine Dragons” are fundamentally different from Russia’s oligarchs.
Russian oligarchs became overnight billionaires during the privatization wave, earning widespread public hatred. In contrast, the wealth of Indonesia’s “Nine Dragons” has seeped gradually into every sector over decades. Your electricity bill, airline ticket, or cooking oil—all have their fingerprints on them. If Prabowo moves too aggressively, financial markets could collapse, and ordinary people might lose their livelihoods along the way.
That’s why he’s currently focusing more on “conversations and intimidation” rather than outright asset seizures. Ultimately, Prabowo isn’t aiming for wealth redistribution—he wants to establish his own power base, crush the old guard, and elevate a new generation of elites loyal only to him.
But this strategy carries significant risks. Investors are already nervous, fearing the axe could fall on them any day, leading to mounting pressure from capital flight. And if the targeted old elites unite in retaliation and shift their support to Jokowi’s political faction, the 2029 presidential election could turn into a real spectacle.
For now, the “game of power” over Indonesia’s economic dominance has only just begun. If Prabowo succeeds, he may indeed usher in a second Suharto-style era of strongman rule; if he fails, the entire nation could pay a heavy price.
Original source: toutiao.com/article/1872741743423500/
Disclaimer: The views expressed in this article are solely those of the author.