The Rise of Indonesian Conglomerates: Capital Expansion and Regional Alliance

  • Faris Al-Fadhat
Part of the Critical Studies of the Asia-Pacific book series (CSAP)


This chapter focuses on the international expansion of Indonesian capitalists across the region as a way of understanding the social forces and their coalitions in conditioning the political support for the regional economic integration project. The chapter moves beyond the methodological nationalism of existing literature on Indonesian capitalist formation which tends to emphasize their position within domestic political and economic structures. The chapter argues that Indonesian capitalists have continued to emerge into international fractions of capital, which are linked to the circuits of capital beyond the nation-state. Such a transformation denotes a shift from capitalists which are only interested in protecting domestic markets, to those with an interest in the unrestricted regional economy, especially through the project of ASEAN economic integration. In this context, regional trade governance is viewed as a new spatial fix for economic regulatory coordination beyond state territories. It is noteworthy that the regionalization of these capitalists has been facilitated by the state, specifically through foreign economic policies that support regional economic initiative as well as economic liberalization packages.


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© The Author(s) 2019

Authors and Affiliations

  • Faris Al-Fadhat
    • 1
  1. 1.Department of International RelationsUniversitas Muhammadiyah YogyakartaBantulIndonesia

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