Held in collaboration with the Centre for Strategic and International Studies (CSIS), the Hadi Soesastro Policy Forum is a flagship annual event commemorating the legacy of Dr Hadi Soesastro and his contributions to Indonesian policy and scholarship.

The 9th Hadi Soesastro Policy Forum entitled The reconfiguration of the global economic order: geopolitical tensions, U.S. policies, strategic competition, and implications for East Asia will be delivered by Dr Narongchai Akrasanee, who will examine how evolving U.S. policies and broader geopolitical dynamics are reshaping the global economic system, as well as the implications of these shifts for trade, industrial development, and regional cooperation in East Asia.

Abstract. The global economic order is undergoing a profound transformation. For decades, the post-World War II Bretton Woods system, led by the United States, promoted multilateralism, free trade, and open investment. This framework is now facing mounting challenges including intensified geopolitical tensions and persistent strategic competition. The ongoing Middle East crisis is already affecting global economy through higher living costs, inflationary pressures, and rising public anxiety. For East Asia, these developments present both significant opportunities and substantial challenges. The ongoing restructuring of the global economy may create new opportunities for investment relocation and industrial upgrading, particularly for countries such as Indonesia, Vietnam, Thailand, and Malaysia. Yet it also raises complex policy questions regarding strategic alignment, technological dependence, and compliance with evolving sustainability standards. ASEAN continues to pursue a strategy of strategic balancing by navigating complex geopolitical and economic dynamics while preserving regional stability and autonomy. Beyond traditional military and political concerns, the bloc is increasingly expanding its regional agenda to address emerging challenges such as energy and food security, reflecting broader concerns over economic resilience and supply chain stability.

Against this backdrop, this year’s Hadi Soesastro Policy Forum will examine how evolving U.S. policies and broader geopolitical dynamics are reshaping the global economic system, as well as the implications of these shifts for trade, industrial development, and regional cooperation in East Asia.

Program

09:30 WIB: Opening by Yose Rizal Damuri (Executive Director, CSIS Indonesia) and Budy Resosudarmo (Head, ANU Indonesia Project)

09:45 WIB: Hadi Soesastro Lecture by Narongchai Aksaranee (Former Minister of Energy and Minister of Commerce, Thailand)

10:45 WIB: Panel session chaired by Yose Rizal Damuri (Executive Director, CSIS Indonesia)

• Political discussant: Poppy Sulistyaning Winanti (Vice Dean, Faculty of Social and Political Science, UGM)
• Economic discussant: AriantoPatunru (ANU Indonesia Project)

11:15 WIB: Q&A Session

12:00 WIB: Lunch and Social Gathering

Hadi Soesastro Policy Forum

Hadi Soesastro (1945 – 2010) was one of Indonesia’s foremost economists and he was well regarded both nationally and internationally. Hadi’s trail of thoughts can be found in all processes and ideas on architecture of regional cooperation such as ASEAN and APEC, and many other multilateral forums (Pangestu, 2010). The Hadi Soesastro Policy Forum is an annual one-day economic and policy forum in Jakarta jointly held by CSIS and ANU Indonesia Indonesia Project. It aims to disseminate and engage discussion on Indonesia’s public policies. In each of this Forum, an Update Book based from Indonesia Update Conference from the previous year is launched.

Find out more at our Online Archive.

About Hadi Soesastro

Hadi Soesastro (1945 – 2010) was regarded both nationally and internationally as one of Indonesia’s foremost economists. Hadi’s trail of thoughts can be found in all processes and ideas on architecture of regional cooperation such as ASEAN and APEC, and many other multilateral forums (Pangestu, 2010). A tremendous loss was felt with his passing, not only in Indonesia, but also amongst international academics and policy makers. “Professor Hadi Soesastro fostered warm relations between Australians and Indonesians,” Australia’s Foreign Minister Bob Carr said when announcing the creation of the Australia Awards Hadi Soesastro Prize in April 2013. The late Hadi Soesastro was a co-founder of the Centre for Strategic and International Studies (CSIS) and an adjunct professor at the Australian National University. He also received an Honorary Doctor of Letters degree from the Australian National University in July 2009. Pak Hadi, as we call him, has long been one of the strongest supporters of ANU Indonesia Project.