| Summary/Abstract |
This paper aims to examine the recent international capital expansion of Indonesian business groups, which has received little attention by existing literatures. The article looks at the geo-political and economic conditions benefited their capital expansion across the region and how such internationalisation process has substantial impacts toward Indonesia’s global economic outlook. This research applied a qualitative method of collecting and categorizing data by using the international political economy approach, specifically the Amsterdam School of International Political Economy and Murdoch School of Political Economy. The data time period is from 1999 to 2020. The research’s empirical findings propose two arguments. First, the internationalisation of Indonesian conglomerate’s capital should not merely be considered a product of corporate strategies. It is largely benefited by regional governance of ASEAN-led economic integration initiative. Second, while such international business expansion serves Indonesia’s ambition to become Southeast Asia’s economic hub, it also is reconfiguring the country’s preferences regarding global economic policy.
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