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There are many literatures about the economic relation between China and ASEAN Ada banyak
literatur tentang hubungan ekonomi antara China dan ASEAN
which included the economic relation between China and Indonesia, major ones of yang
mencakup hubungan ekonomi antara China dan Indonesia, yang utama
which are as follows: 'the political economy of China's changing relations with yang adalah
sebagai berikut: 'ekonomi politik yang berubah-ubah hubungan China dengan
Southeast Asia' (Wong 1984), 'China-ASEAN economic relations: trades and patterns' Asia
Tenggara '(Wong 1984),' China-ASEAN hubungan ekonomi: perdagangan dan pola '
(Cheng Bifan and Chia Siow-Yun 1988), 'China-ASEAN economic relations: (Cheng Bifan dan
Chia Siow-Yun 1988), 'China-ASEAN ekonomi hubungan:
development in China and ASEAN and their implications for China±ASEAN pembangunan di
China dan ASEAN dan implikasinya terhadap China-ASEAN
economic relations' (Cheng Bifan and Chia Siow-Yun 1989), 'China±ASEAN ekonomi
hubungan '(Cheng Bifan dan Chia Siow-Yun 1989),' China-ASEAN
economic relations: in the context of Pacific economic development and cooperation' hubungan
ekonomi: dalam konteks pembangunan ekonomi Pasifik dan kerjasama '
(Cheng Bifan and Chia Siow-Yun 1991), 'China-ASEAN economic relations: (Cheng Bifan dan
Chia Siow-Yun 1991), 'China-ASEAN ekonomi hubungan:
industrial restructuring in ASEAN and China' (Luo Zhaohong and Chen Renhe 1995).
restrukturisasi industri di ASEAN dan Cina (Luo Zhaohong dan Chen Renhe 1995).
Besides books, some scholars had published papers on economic relation between Selain buku,
beberapa sarjana telah menerbitkan makalah tentang hubungan ekonomi antara
China and Indonesia such as Hadi Soesastro (1986), Raymond Atje and Arya B Gaduh China
dan Indonesia seperti Hadi Soesastro (1986), Raymond Atje dan Arya B Gaduh
(1999), Jusuf Wanandi (2001), and so on. (1999), Jusuf Wanandi (2001), dan seterusnya.
'The economic relations between China and Indonesia' is old academic studying field "Hubungan
ekonomi antara China dan Indonesia 'sudah tua belajar bidang akademik
on one hand, but it is always a new field attracting scholar's attention on the other hand. di satu
sisi, tapi itu selalu merupakan bidang baru yang menarik perhatian sarjana di sisi lain.
The economic relations between them have been in change with the change of politic Hubungan
ekonomi antara mereka telah di ubah dengan perubahan politik
and economy in these two countries and the change of regional and global relationship. dan
ekonomi di kedua negara dan perubahan hubungan regional dan global.
So it is always imperative to study the economic relation between China and Indonesia Jadi
selalu penting untuk mempelajari hubungan ekonomi antara China dan Indonesia
in response to the change of respective economy and international relationships. dalam
menanggapi perubahan perekonomian masing-masing dan hubungan internasional. This Ini
paper will focus on four areas: 1) China's economic relations with Indonesia since kertas akan
fokus pada empat bidang: 1) hubungan ekonomi China dengan Indonesia sejak
1950s; 2) the complementarity and competitiveness of economic relations between 1950-an, 2)
yang saling melengkapi dan daya saing hubungan ekonomi antara
China and Indonesia; 3) The impact of China's entry into WTO and establishment of China dan
Indonesia; 3) Dampak's masuknya Cina ke dalam WTO dan pembentukan
China-ASEAN free trade area on economic relation between China and Indonesia; 4) Cina-
ASEAN kawasan perdagangan bebas pada hubungan ekonomi antara China dan Indonesia; 4)
Chinese investment in Indonesia. Cina investasi di Indonesia.
  "#  $  # %" # #  &'()#  "*+ ,$
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China and Indonesia finally became nation state after World War II / but followed China dan
Indonesia akhirnya menjadi negara bangsa setelah Perang Dunia / tetapi diikuti
different social systems which put strong influence on economic relations between berbeda
sistem sosial yang menempatkan pengaruh kuat pada hubungan ekonomi antara
them. mereka. Together with the influence of international political regimes in the period of
Bersama dengan pengaruh rezim politik internasional di masa
Cold War, the economic relations between China and Indonesia had not been smooth. Perang
Dingin, hubungan ekonomi antara China dan Indonesia tidak pernah mulus.
Economic relations between Indonesia and China are closely related to the political hubungan
ekonomi antara Indonesia dan Cina sangat erat terkait dengan politik
relations between the two countries. hubungan antara kedua negara. As the political relations
have been up and down, Karena hubungan politik telah naik dan turun,
so have been the economic relations. sehingga telah menjadi hubungan ekonomi.

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China and Indonesia established diplomatic relations on 13 April 1950 and signed first China dan
Indonesia menjalin hubungan diplomatik pada tanggal 13 April 1950 dan ditandatangani pertama
bilateral trade agreement in 1953. perjanjian perdagangan bilateral pada tahun 1953. Afterward,
the trade between them had been Setelah itu, perdagangan antara mereka telah
increased, the total trade value between them increased from US$ 7.38 million in 1954
meningkat, nilai total perdagangan antara mereka meningkat dari US $ 7.380.000 pada tahun
1954
to US$ 129 million in 1959. untuk US $ 129 juta pada tahun 1959. Even in 1965, China once
became the second trade partner Bahkan pada tahun 1965, Cina pernah menjadi mitra dagang
kedua
of Indonesia which Indonesian import and export value from China occupied 11 Indonesia yang
impor Indonesia dan ekspor nilai dari China ditempati 11
percent of the total value of Indonesian import and export. persen dari total nilai impor Indonesia
dan ekspor. But following the '30 Namun berikut '30
September' incident in 1965, the diplomatic relations between two countries were 'Insiden
September pada tahun 1965, hubungan diplomatik antara kedua negara
suspended in 1967. ditangguhkan pada tahun 1967. This had a significant negative impact on the
economic relations Hal ini memiliki dampak negatif yang signifikan pada hubungan ekonomi
between Indonesia and China. antara Indonesia dan Cina. Direct trade link between them
therefore stopped and Perdagangan langsung hubungan antara mereka itu berhenti dan
indirect trade had been taken through Hongkong and Singapore. perdagangan tidak langsung
telah diambil melalui Hongkong dan Singapura. Until 1980s, Relations Sampai tahun 1980-an,
Hubungan
between China and Indonesia began to ease. antara China dan Indonesia mulai mereda. In July
1985, the Indonesian Chamber of Pada bulan Juli 1985, Kamar Dagang Indonesia
Commerce and the China Council for the Promotion of International trade (CCPIT) Perdagangan
dan Dewan Cina untuk Promosi Perdagangan Internasional (CCPIT)
signed a memorandum of understanding (MoU) for the reestablishment of a direct
menandatangani nota kesepahaman (MoU) untuk pembangunan kembali langsung
trade link between the two countries. perdagangan hubungan antara kedua negara. Five years
later, it was on 8 August 1990 while Lima tahun kemudian, itu pada 8 Agustus 1990 sedangkan
Premier Li Peng was visiting Indonesia, the Chinese and Indonesian foreign ministers Perdana
Menteri Li Peng mengunjungi Indonesia, menteri luar negeri Indonesia dan Cina
signed the Memorandum of Understanding on Restoration of Diplomatic Relations on
menandatangani Nota Kesepahaman tentang Pemulihan Hubungan Diplomatik pada
behalf of each of his own government, and declared Sino-Indonesian diplomatic nama masing-
masing pemerintah sendiri, dan menyatakan Sino-Indonesia diplomatik
relations was officially restored as of that day. hubungan secara resmi dikembalikan pada hari
itu. After that, the political and economic Setelah itu, politik dan ekonomi
relations between the two countries had been normalized, Sino-Indonesian relations hubungan
antara kedua negara telah dinormalkan, hubungan Sino-Indonesia
have seen all-round progress and developed rapidly. telah melihat semua kemajuan-bulat dan
berkembang pesat. Average annual growth rate of Rata-rata laju pertumbuhan tahunan
trade reached 14.7 percent during 1990-2000. perdagangan mencapai 14,7 persen selama 1990-
2000. Entering 21st century, the relations Memasuki abad ke-21, hubungan
between the two countries have been in best time. antara kedua negara telah di waktu terbaik. In
May 2000, Foreign Minister Tang Pada bulan Mei 2000, Menteri Luar Negeri Tang
Jiaxuan and Indonesian Foreign Minister Alwi Shihab signed in Beijing the Joint Jiaxuan dan
Menteri Luar Negeri Indonesia Alwi Shihab ditandatangani di Beijing Bersama
statement on the Course for Future Bilateral Cooperation between the People's pernyataan di
Kursus untuk Masa Depan Kerjasama Bilateral antara Rakyat yang
Republic of China and the Republic of Indonesia, and Memorandum of Understanding Republik
Cina dan Republik Indonesia, dan Nota Kesepahaman
on the Joint Committee of Bilateral Cooperation between the People's Republic of dalam Komite
Bersama Kerjasama Bilateral antara Republik Rakyat
China and Republic of Indonesia, which was the guideline of developing the relations China dan
Republik Indonesia, yang merupakan pedoman pembinaan relasi
between two countries in 21st century. antara dua negara di abad ke-21. This showed that the two
countries reached Hal ini menunjukkan bahwa kedua negara mencapai
consensus on establishing and developing all-round cooperative relations based on konsensus
mengenai pembentukan dan pengembangan koperasi bulat hubungan-semua berdasarkan
long-term stability, mutual trust and good neighbourliness. jangka panjang stabilitas, saling
percaya dan bertetangga baik.
Overview the history of economic relations between China and Indonesia since the Sekilas
sejarah hubungan ekonomi antara China dan Indonesia sejak
establishment of diplomatic relations in 1950, the development of economic relations
pembentukan hubungan diplomatik pada tahun 1950, pengembangan hubungan ekonomi
between two countries may be divided into three stages: antara dua negara dapat dibagi menjadi
tiga tahap:
1. 1. Slowly development in the period of 1950-1966. Perlahan-lahan pembangunan di periode
1950-1966. The trade relations between them Hubungan perdagangan antara mereka
were characterised as small volume and simple structure of trade. yang dicirikan sebagai volume
kecil dan struktur sederhana perdagangan.
Table 1 Chinese trade with Indonesia during 1950-1966 (Unit: US$ ten thousand) Tabel 1
perdagangan Cina dengan Indonesia selama 1950-1966 (Unit: US $ 10.000)
Year Tahun
1950 1955 1950 1955
1956 1960 1956 1960
1961 1965 1961 1965
1966 1966
Export Ekspor
11.75 11.75
206.28 206.28
236.99 236.99
0.33 0.33
Import Impor
22.56 22.56
191.98 191.98
225.20 225.20
16.39 16.39
Total Jumlah
34.31 34.31
398.26 398.26
462.19 462.19
16.72 16.72
Source: Almanac of China's Foreign Economic Relations Trade 1984. Sumber: Almanak
Perdagangan Hubungan Ekonomi Luar Negeri China 1984. No Tidak ada
official data of 1967-1976 data resmi dari 1967-1976

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2. 2. Indirect trade through Hongkong and Singapore in the period of 1967-1984. Langsung
perdagangan melalui Hongkong dan Singapura dalam periode 1967-1984. The The
normal economic relations between China and Indonesia had been stopped for hubungan
ekonomi normal antara China dan Indonesia telah berhenti untuk
nearly 20 years because the diplomatic relations between two countries suspended hampir 20
tahun karena hubungan diplomatik antara kedua negara ditangguhkan
in 1967. pada tahun 1967. The trade between them took place in term of indirect trade through
Perdagangan antara mereka berlangsung di jangka perdagangan tidak langsung melalui
Hongkong and Singapore. Hongkong dan Singapura. In 1970s, about 30 percent of Indonesian
import goods Pada 1970, sekitar 30 persen dari barang-barang impor Indonesia
from Hongkong were made in China and 14 percent of Indonesian export goods to dari
Hongkong dibuat di China dan 14 persen barang ekspor Indonesia ke
Hongkong had been transferred to China at same time. Hongkong telah dipindahkan ke Cina
pada waktu yang sama.
Table 2 Chinese indirect trade with Indonesia via Hongkong during 1967-1984 Tabel Cina 2
perdagangan langsung dengan Indonesia melalui Hongkong selama 1967-1984
(Unit: million US dollar) (Unit: juta US dolar)
Year Tahun
1978 1978
1979 1979
1980 1980
1981 1981
1982 1982
1983 1983
1984 1984
1985 1985
Import Impor
88
28 28
45 45
33 33
42 42
34 34
Export Ekspor
94 94
134 134
203 203
238 238
256 256
227 227
195 195
165 165
Total Jumlah
102 102
162 162
248 248
271 271
298 298
261 261
195 195
165 165
Source: Hongkong's Foreign Trade 197819791980198219841985. Sumber: Perdagangan Luar
Negeri 197819791980198219841985's Hongkong.
3. 3. Restoration and rapidly development since 1985. Restorasi dan cepat pengembangan sejak
tahun 1985. China and Indonesia finally China dan Indonesia akhirnya
restored direct trade which ever suspended for nearly 20 years since 1967. kembali perdagangan
langsung yang pernah diskors selama hampir 20 tahun sejak tahun 1967. The The
economic relations between these two countries developed rapidly after the hubungan ekonomi
antara kedua negara berkembang pesat setelah
normalisation of diplomatic relation in 1990. normalisasi hubungan diplomatik pada tahun 1990.
                   
        
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‡ The trade value between them has been steadily increasing. ‡ Nilai perdagangan antara mereka
telah terus meningkat. We can see this Kita bisa melihat ini
trend from below table. tren dari bawah meja. The trade value between China and Indonesia goes
up Nilai perdagangan antara China dan Indonesia naik
sharply since 1985 except in 1998 and 2001. tajam sejak tahun 1985, kecuali pada tahun 1998
dan 2001. According to the data of China, Menurut data dari Cina,
Indonesia's trade with China by value increased nearly 100 times from US$ dagang Indonesia
dengan Cina dengan nilai meningkat hampir 100 kali dari US $
108.7 million in 1985 to US$10.2 billion in 2003 and is planed to reach US$ 15 108,7 juta pada
tahun 1985 menjadi US $ 10,2 miliar untuk tahun 2003 dan direncanakan mencapai US $ 15
billion with Indonesia's trade surplus most of years. miliar dengan surplus perdagangan's
Indonesia sebagian besar tahun.
Table 3: The trade balance between China and Indonesia during 1985-2003 Tabel 3: Neraca
perdagangan antara China dan Indonesia selama 1985-2003
(Unit: US$ million) (Unit: US $ juta)
11
Indonesian Statistics Statistik Indonesia
Chinese Statistics Cina Statistik
Years Tahun
Total Jumlah
Export Ekspor
Import Impor
Total Jumlah
Export Ekspor
Import Impor
1985 1985
333.1 333.1
84.2 84.2
248.9 248.9
108.7 108.7
69.0 69.0
39.7 39.7
1986 1986
476.1 476.1
139.0 139.0
337.1 337.1
285.0 285.0
102.2 102.2
182.8 182.8
1987 1987
751.0 751.0
343.0 343.0
408.0 408.0
432.2 432.2
142.1 142.1
290.1 290.1
1988 1988
930.5 930.5
491.8 491.8
438.7 438.7
522.7 522.7
170.4 170.4
352.3 352.3
1989 1989
1,095.9 1,095.9
568.5 568.5
527.4 527.4
441.9 441.9
141.9 141.9
300.0 300.0
1990 1990
1,486.8 1,486.8
834.4 834.4
652.4 652.4
545.7 545.7
220.0 220.0
325.7 325.7
1991 1991
2,025.9 2,025.9
1,190.9 1,190.9
835.0 835.0
1,884.5 1,884.5
481.1 481.1
1,403.4 1,403.4
1992 1992
2,147.9 2,147.9
1,396.4 1,396.4
751.5 751.5
2,025.7 2,025.7
471.4 471.4
1,554.3 1,554.3
1993 1993
2,114.0 2,114.0
1,250.0 1,250.0
864.0 864.0
2,160.3 2,160.3
691.7 691.7
1,468.6 1,468.6
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This table shows there is big gap between Indonesia statistics and Chinese statistics because
smuggling Tabel ini menunjukkan ada kesenjangan besar antara statistik Indonesia dan statistik
Cina karena penyelundupan
exists in Indonesia side. ada di sisi Indonesia. So the figures of Indonesia are smaller than that of
China. Jadi tokoh Indonesia lebih kecil dibandingkan dengan Cina.

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1994 1994
2,690.7 2,690.7
1,321.7 1,321.7
1,369.0 1,369.0
2,640.1 2,640.1
1,051.7 1,051.7
1,588.4 1,588.4
1995 1995
3,137.0 3,137.0
1,641.8 1,641.8
1,495.2 1,495.2
3,490.2 3,490.2
1,438.2 1,438.2
2,052.0 2,052.0
1996 1996
3,655.1 3,655.1
2,057.5 2,057.5
1,597.6 1,597.6
3,708.4 3,708.4
1,428.0 1,428.0
2,280.4 2,280.4
1997 1997
3,747.3 3,747.3
2,229.3 2,229.3
1,518.0 1,518.0
4,514.2 4,514.2
1,840.6 1,840.6
2,673.6 2,673.6
1998 1998
2,738.2 2,738.2
1,832.0 1,832.0
906.2 906.2
3,627.9 3,627.9
1,171.2 1,171.2
2,456.7 2,456.7
1999 1999
3,251.1 3,251.1
2,008.9 2,008.9
1,242.2 1,242.2
4,829.8 4,829.8
1,778.9 1,778.9
3,050.9 3,050.9
2000 2000
4,789.6 4,789.6
2,767.7 2,767.7
2,021.9 2,021.9
7,463.9 7,463.9
3,061.9 3,061.9
4,402.0 4,402.0
2001 2001
4,043.4 4,043.4
2,200.7 2,200.7
1,842.7 1,842.7
6,724.6 6,724.6
2,836.5 2,836.5
3,888.1 3,888.1
2002 2002
5,330 5,330
2,903 2,903
2,427 2,427
7,928.3 7,928.3
3,426.9 3,426.9
4,501.4 4,501.4
2003 2003
6,760 6,760
3,803 3,803
2,957 2,957
10,229.0 10,229.0
4,481.0 4,481.0
5,748.0 5,748.0
Source: Almanac of China's Foreign Economic Relations Trade (Different Sumber: Almanak
Perdagangan Hubungan Ekonomi Luar Negeri China (berbeda-beda
Years), Statistics Indonesia (BPS) Tahun), Statistik Indonesia (BPS)
‡ In terms of commodity structure, China's principal export commodities to ‡ Dalam hal struktur
komoditas, komoditas ekspor utama China ke
Indonesia are industrial finished products and semi-manufactured goods and Indonesia adalah
produk jadi industri dan barang semi-manufaktur dan
some agricultural goods such as electrical machinery and apparatus, chemical pertanian beberapa
barang seperti mesin dan peralatan listrik, kimia
materials, tobacco, rice and maize, China's principal import commodities are bahan, tembakau,
beras dan jagung, komoditas utama impor's China
resource-intensive goods like crude oil, plywood, wood and its products, pulp, sumber daya
intensif barang seperti minyak mentah, kayu lapis, kayu dan produk-produknya, pulp,
rubber and chemical materials. karet dan bahan kimia. Of China's total exports to Indonesia,
primary Dari total ekspor China ke Indonesia, primer
commodities accounted for 23 percent and industrial finished products komoditas menyumbang
23 persen dan produk jadi industri
accounted for 77 percent in 2001; by contrary, primary commodities accounted menyumbang 77
persen pada tahun 2001; oleh Sebaliknya, komoditas primer dipertanggungjawabkan
for 51 percent and industrial finished products accounted for 49 percent of untuk 51 persen dan
produk jadi industri menyumbang 49 persen dari
China's total imports from Indonesia at the same year (Xu 2002). China total impor dari
Indonesia pada tahun yang sama (Xu 2002).
‡ In engineering projects and labour services aspects, development is quick, but ‡ Dalam proyek
rekayasa dan jasa tenaga kerja aspek, pembangunan cepat, tetapi
value is still small. nilainya masih kecil. China and Indonesia began cooperation in this area in
1989 China dan Indonesia memulai kerjasama di daerah ini pada tahun 1989
and signed contract value of US$ 810 thousand in that year. dan menandatangani nilai kontrak
sebesar US $ 810.000 pada tahun itu. Although contract Meskipun kontrak
value of engineering projects and labour services between them have increased Nilai proyek
rekayasa dan jasa tenaga kerja di antara mereka telah meningkat
and even reached over US$ 100 million in some years, but most of years until dan bahkan
mencapai lebih dari US $ 100 juta dalam beberapa tahun, tetapi sebagian besar dari tahun sampai
now are below that level. sekarang di bawah tingkat itu. According to China's data, the total
contract numbers Menurut's data Cina, jumlah kontrak sebesar
of engineering project and labour service between China and Indonesia added proyek teknik dan
jasa buruh antara China dan Indonesia ditambahkan
up 1074 units with the accumulative contract value of US$ 988 million and the Facebook 1.074
unit dengan nilai kontrak akumulasi dari US $ 988.000.000 dan
accumulative turnover of US$ 579 million until the end of 2002. akumulasi omset sebesar US $
579.000.000 sampai akhir tahun 2002.
22
As Indonesia Seperti Indonesia
estimated, the contract value of engineering projects for foreign countries is Diperkirakan, nilai
kontrak proyek rekayasa untuk negara-negara asing adalah
estimated about US$ 10 billion one year, but China only accounts for small diperkirakan sekitar
US $ 10 miliar satu tahun, tetapi China hanya menyumbang kecil
percentage of it. persentase itu. China's biggest engineering project was that Chinese ChengDa
rekayasa proyek terbesar China adalah bahwa Cina Chengda
Engineering Corporation built 20×30 kilowatt Cilacap power station in central Engineering
Corporation dibangun 20 × 30 kilowatt Cilacap pembangkit listrik di pusat
Jawa worth US$ 510 million beginning on 29 December, 2003. DKI senilai US $ 510.000.000
dimulai pada tanggal 29 Desember, 2003. At same year, Pada tahun yang sama,
CHEC (China Huadian Engineering Company), one of the largest general CHEC (China
Huadian Engineering Company), salah satu yang terbesar umum
contractors in China's power sectors, signed an agreement on establishing about kontraktor
dalam kekuasaan sektor China, menandatangani perjanjian pada pendirian tentang
30 power plants in java with Indonesia companies PT Dana Mulia Sukses and 30 pembangkit
listrik di Jawa dengan perusahaan Indonesia PT Dana Mulia Sukses dan
PT Radu Pratama. PT Radu Pratama.
22
calculated according Almanac of China's Foreign Economic Relations Trade (Different Years)
dihitung sesuai Almanak Ekonomi Luar Negeri China Hubungan Perdagangan (Tahun berbeda)

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‡ The cooperation between two countries in energy has made great progress. ‡ Kerjasama antara
dua negara di bidang energi telah membuat kemajuan besar. The The
Energy Forum has been set up in November of 2001, which shows the two Forum Energi telah
ditetapkan pada bulan November tahun 2001, yang menunjukkan dua
countries will deepen energy cooperation in future. negara akan meningkatkan kerjasama energi
di masa depan. In September of 2002, Pada bulan September 2002,
Indonesia signed a 25-year contract to supply US$ 8.5 billion worth of liquefied Indonesia
menandatangani kontrak 25 tahun untuk memasok US $ 8.5 milyar cair
natural gas (LNG) to China's Fujian province from the Tangguh LNG plant in gas alam (LNG)
ke Fujian propinsi China dari pabrik LNG Tangguh
Papua. Papua. CNOOC (China National Offshore Oil Corporation) will start building CNOOC
(China National Offshore Oil Corporation) akan mulai membangun
an LNG terminal in 2004, while the first LNG supply from Tangguh is terminal LNG tahun
2004, sementara pasokan LNG pertama dari Tangguh
expected to arrive in Fujian by 2007. diharapkan tiba di Fujian pada 2007. The supply will
amount to 2.6 million pasokan akan berjumlah 2,6 juta
tons per year. ton per tahun.
‡ China provided credit worth US$ 0.4 billions for helping finance the ‡ China memberikan
kredit senilai US $ 0,4 miliar untuk membantu membiayai
construction of the cross-sea Suramadu bridge linking Java and the island of pembangunan laut
silang jembatan Suramadu yang menghubungkan Jawa dan pulau
Madura, double-track railroad connecting Cireborn-Kroya and the construction Madura, ganda
rel kereta api menghubungkan Cireborn-Kroya dan konstruksi
of 200 Megawatt Labuhan Angin power plant in Sibolga in 2002 (Setiogi 2003). Angin dari 200
Megawatt pembangkit listrik Labuhan di Sibolga pada tahun 2002 (Setiogi 2003).
Moreover, China also provided Indonesia with export credit facility and grant Selain itu, China
juga memberikan Indonesia dengan fasilitas kredit ekspor dan hibah
for food and medicine in 1998 and 1999 respectively. untuk makanan dan obat-obatan pada
tahun 1998 dan 1999 masing-masing.
Besides cooperation above mentioned, China and Indonesia have developed Selain kerjasama di
atas disebutkan, Cina dan Indonesia telah mengembangkan
cooperation in agriculture, forestry, fishing, mining, transportation, finance, tourism, kerjasama
di bidang pertanian, kehutanan, perikanan, pertambangan, transportasi, keuangan, pariwisata,
and other areas. dan bidang lainnya. In 2001, agriculture, fishing, energy, resource exploration,
Pada tahun 2001, pertanian, perikanan, energi, eksplorasi sumber daya,
infrastructure construction as well as tourism was set by both countries as key pembangunan
infrastruktur serta pariwisata ditetapkan oleh kedua negara sebagai kunci
sectors for economic cooperation. sektor-sektor kerjasama ekonomi. Mutual investment also will
be the important investasi Reksa juga akan menjadi penting
area to be developed by both sides in future and will be discussed in last part of this area yang
akan dikembangkan oleh kedua belah pihak di masa depan dan akan dibahas dalam bagian
terakhir ini
paper. kertas.
Generally speaking, the economic relations between China and Indonesia had been Secara
umum, hubungan ekonomi antara China dan Indonesia telah
steadily and all-roundly developed in past decades. terus dan semua-bulat-bulat dikembangkan di
dekade terakhir.
                        
        
  "  #$%&     
 '#$%&  
Fist, international relations changed. Fist, hubungan internasional berubah. In 1950-70s, the
world was in the period of Pada tahun 1950-70-an, dunia sedang dalam periode
Cold War, conflict and rivalry are major terms of international relations. Perang Dingin, konflik
dan persaingan adalah istilah-istilah utama hubungan internasional. ASEAN ASEAN
countries treated China as a rival or threat in the middle of 1960 and the early of diperlakukan
negara Cina sebagai saingan atau ancaman di tengah tahun 1960 dan awal
1970. 1970. With the improvement of relations between China and America after Dengan
peningkatan hubungan antara Cina dan Amerika setelah
American former president Nixon visiting China in 1972, ASEAN countries mantan Presiden
Amerika Nixon berkunjung ke China pada tahun 1972, negara-negara ASEAN
justified foreign policy toward China and tried to improve the relations with China. dibenarkan
terhadap kebijakan luar negeri Cina dan berusaha meningkatkan hubungan dengan Cina.
Especially, The Cold War lasting 40 years turned out to be over in the end of 1980s Terutama,
Perang Dingin berlangsung 40 tahun ternyata menjadi lebih dari pada akhir 1980-an
and the early of 1990s with the disintegration of former Soviet Union in 1991. dan awal 1990-an
dengan disintegrasi Uni Soviet pada 1991.
Therefore, the international relationship greatly changed, peace and development as Oleh karena
itu, hubungan internasional sangat berubah, perdamaian dan pembangunan sebagai
well as competition and cooperation replaced conflict and rivalry. sebagai persaingan baik dan
kerjasama diganti konflik dan persaingan.
Second, the foreign and domestic policy in China and Indonesia began to change Kedua,
kebijakan luar negeri dan domestik di Cina dan Indonesia mulai berubah
respectively with the background of international relations above mentioned. masing-masing
dengan latar belakang hubungan internasional tersebut di atas. China Cina
began domestic economic reform (namely market economic reform) and carried mulai reformasi
ekonomi dalam negeri (yaitu reformasi ekonomi pasar) dan dilakukan
out outward-looking economic policy from 1978. keluar mencari kebijakan ekonomi-keluar dari
1978. Establishing friendly relations Membangun hubungan persahabatan
with neighbour countries around China is included into China's import foreign dengan negara-
negara tetangga di sekitar Cina termasuk ke dalam impor luar negeri Cina
policy. kebijakan. Indonesia as a big country in Southeast Asia was in the nature of things
Indonesia sebagai negara besar di Asia Tenggara dalam sifat hal

c  c 
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66
considered by China as one of China's most import neighbours who should be dianggap oleh
Cina sebagai salah satu yang paling impor tetangga China yang harus
normalized bilateral political and economic relations. normalisasi hubungan politik dan ekonomi
bilateral. During 1980s, Indonesia also Selama tahun 1980-an, Indonesia juga
undertook significant economic policy changes in terms of deregulation or ekonomi melakukan
perubahan kebijakan yang signifikan dalam hal deregulasi atau
liberalization. liberalisasi. Indonesia pursued outward-looking and export substitution policy
Indonesia mengejar mencari dan ekspor substitusi kebijakan luar
instead of inward-looking and import substitution policy in the period of 'oil bukannya inward-
looking dan kebijakan substitusi impor dalam periode 'minyak
prosperity'. kesejahteraan '. Trade contributed more and more to GDP in these two countries.
Perdagangan menyumbang lebih dan lebih terhadap PDB di kedua negara. From Dari
Indonesian perspective, China was also considered as having a large economic perspektif
Indonesia, China juga dianggap sebagai memiliki besar ekonomi
potential and could no longer be ignored. potensial dan tidak bisa lagi diabaikan. As Atje and
Gaduh (1999) wrote: 'it was Sebagai Atje dan Gaduh (1999) wrote: "itu adalah
in such political and economic environments in China as well as in Indonesia that dalam
lingkungan politik dan ekonomi seperti di Cina maupun di Indonesia yang
the rapprochement between the two countries took place'. itu pemulihan hubungan antara kedua
negara berlangsung. The process began at the Proses ini dimulai di
time when both countries were entering new phases of their respective economic saat kedua
negara memasuki tahap baru dari mereka masing-masing ekonomi
reforms. reformasi. The establishment of a direct trade between the two countries in 1985 and
Pembentukan perdagangan langsung antara kedua negara pada tahun 1985 dan
the improvement in economic relations between the two countries afterwards might perbaikan
dalam hubungan ekonomi antara kedua negara setelah itu mungkin
be regarded as parts of their efforts to integrate their economies with the emerging dianggap
sebagai bagian dari upaya mereka untuk mengintegrasikan ekonomi mereka dengan munculnya
global economy. ekonomi global.
Third, the two countries pay more attention to develop their bilateral relation by Ketiga, kedua
negara memberikan perhatian lebih untuk mengembangkan hubungan bilateral mereka dengan
means of frequently leader visit each other since establishment of diplomatic berarti pemimpin
yang sering saling mengunjungi sejak berdirinya diplomatik
relation in 1990. hubungan pada tahun 1990.
Fourth, China's rapidly economic development provides the strength of economic Keempat, yang
cepat ekonomi pembangunan China menyediakan kekuatan ekonomi
relations between China and Indonesia with more opportunities. hubungan antara China dan
Indonesia dengan lebih banyak kesempatan. With China's high Dengan China tinggi
growth rate since 1980s, China enlarges demands for Indonesia products, resources, laju
pertumbuhan sejak 1980-an, Cina membesar permintaan produk Indonesia, sumber daya,
investment and economic cooperation on one hand, China's enterprises begin to investasi dan
kerjasama ekonomi di satu sisi, Teman-perusahaan China mulai
invest in Indonesia under the 'going out' policy on the other hand. berinvestasi di Indonesia di
bawah 'akan' keluar kebijakan di sisi lain.
  ’" $0$1 $02##3 $ # +$+,0
1#+"*+,$
*%"# "#
It is argued that the completmentarity of economic relations between China and Dikatakan
bahwa completmentarity hubungan ekonomi antara China dan
Indonesia is less than competitiveness of that (Atje and Gaduh 1999). Indonesia adalah kurang
dari daya saing yang (Atje dan Gaduh 1999). They think Mereka berpikir
Indonesia and China are developing economies, with more or less the same levels of Indonesia
dan China mengembangkan ekonomi, dengan kurang lebih tingkat yang sama
development, and lack economic complementarity that is necessary for extensive trade
pembangunan, dan kurangnya komplementaritas ekonomi yang diperlukan untuk perdagangan
ekstensif
between them to take place. di antara mereka untuk mengambil tempat. So it is necessary to
review this point from theoretically Jadi itu perlu untuk meninjau hal ini dari teoritis
and practically. dan praktis.
          
From one view of traditional trade theory----Factor Proportion Theory, difference of Dari satu
pandangan teori tradisional perdagangan ---- Faktor Proporsi Teori, perbedaan
factor endowment fundamentally results in international division and then international
endowmen faktor fundamental hasil di divisi internasional dan kemudian internasional
trade. perdagangan. Furthermore, the more difference of factor endowment, economic level and
Selain itu, perbedaan lebih abadi faktor, tingkat ekonomi dan
industrial structure between two countries, the more economic complementarity industri struktur
antara kedua negara, ekonomi saling melengkapi lebih
between them, and vice versa. antara mereka, dan sebaliknya. So it is easy to conclude that China
and Indonesia lack Sehingga mudah untuk menyimpulkan bahwa Cina dan kurangnya Indonesia
economic complementarity because Indonesia and China are developing economies
komplementaritas ekonomi karena Indonesia dan Cina sedang mengembangkan ekonomi
with more or less the same levels of development. dengan kurang lebih tingkat yang sama
pembangunan. Nevertheless, Factor Proportion Namun demikian, Faktor Proporsi
Theory only explains one of reasons why international trade happen, but not all. Teori hanya
menjelaskan salah satu alasan mengapa perdagangan internasional terjadi, tetapi tidak semua. In
fact, Bahkan,
some new trends appear in the process of economic globalization. beberapa kecenderungan baru
muncul dalam proses globalisasi ekonomi. On one hand, Di satu sisi,
production factors multiply. faktor produksi berkembang biak. Technology, information and
system as new production Teknologi, informasi dan sistem sebagai produksi baru

c 
c 

¯  
    ¯  
77
factors contributes more to production as well as traditional production factors such as faktor
yang memberikan kontribusi lebih untuk produksi serta faktor-faktor produksi tradisional seperti
earth, capital and labour; on the other hand, international flow of production factors bumi, modal
dan tenaga kerja, di sisi lain, aliran internasional faktor produksi
brings about transfer of comparative advantage internationally and intra-industry trade.
membawa tentang transfer keunggulan komparatif internasional dan perdagangan intra-industri.
Factor Proportion Theory only explains why inter-industry trade takes place, but Proporsi faktor
Teori hanya menjelaskan mengapa antar-industri perdagangan terjadi, namun
Intra-Industry Trade Theory explains why intra-industry trade happens. Intra-Industri
Perdagangan Teori menjelaskan mengapa intra-industri perdagangan terjadi. Exchange of
Pertukaran
differentiated products and intermediate-products of same industry between two or membedakan
produk dan intermediate-produk industri yang sama antara dua atau
more countries is called as intra-industry trade. lebih banyak negara disebut perdagangan intra-
industri. From the view of Intra-Industry Trade Dari pandangan Intra-Industri Perdagangan
Theory, product differentiae and economy of scale are at the bottom of intra-industry Teori,
produk differentiae dan ekonomi skala berada di bawah intra-industri
trade. perdagangan. Furthermore, international trade also happens in the two countries with
similar Selain itu, perdagangan internasional juga terjadi di kedua negara dengan yang serupa
factor endowment, similar industry structure and similar economy. Faktor abadi, struktur industri
serupa dan ekonomi serupa. Therefore, it is Oleh karena itu,
possible to strengthen the economic complementarity of two countries with similar mungkin
untuk memperkuat komplementaritas ekonomi dari dua negara dengan yang serupa
factor endowment by means of enlarging intra-industry trade. Faktor abadi dengan cara
memperbesar perdagangan intra-industri. Intra-Industry Trade Intra-Industri Perdagangan
Theory as dynamic trade theory brings to light possibility that the two countries with Teori
sebagai teori perdagangan dinamis membawa cahaya kemungkinan bahwa kedua negara dengan
similar industry structure and factor endowment develop extensive trade, so do China struktur
yang sama industri dan faktor endowment mengembangkan perdagangan yang luas, jadi jangan
Cina
and Indonesia. dan Indonesia.
 (       (  
Generally speaking, the economic complementarity of China and Indonesia are relative Secara
umum, komplementaritas ekonomi Cina dan Indonesia relatif
limited at present, but we can't conclude that they lack economic complementarity terbatas pada
saat ini, tapi kita tidak dapat menyimpulkan bahwa mereka kurang komplementaritas ekonomi
which is necessary for extensive trade between them to take place. yang diperlukan untuk
perdagangan yang luas antara mereka untuk mengambil tempat. In reality, there are Pada
kenyataannya, ada
intra-industry trades between them as well as inter-industry trade. intra-industri perdagangan
antara mereka serta industri perdagangan antar.
First, China and Indonesia have differences of factor endowment, so they have Pertama, Cina
dan Indonesia memiliki perbedaan anugerah faktor, sehingga mereka memiliki
economic complementarity. ekonomi saling melengkapi. China rich in population, resources and
broad area of earth Cina kaya penduduk, sumber daya dan bidang yang luas bumi
covering areas of tropics, subtropics, temperate zone and frigid zone. meliputi wilayah tropis,
subtropis, zona sedang dan zona dingin. Indonesia is a big Indonesia adalah besar
country in Southeast Asia and abounds with natural resources in agriculture, mineral, negara di
Asia Tenggara dan berlimpah dengan sumber daya alam di bidang pertanian, mineral,
forestry and ocean. kehutanan dan laut. They possess of different comparative advantage.
Mereka memiliki keunggulan komparatif yang berbeda. The indicator of Indikator
revealed comparative advantage in below table shows China's comparative advantage
mengungkapkan keunggulan komparatif dalam tabel di bawah ini menunjukkan keunggulan
komparatif China
is on labour-intensive commodities and Indonesia's comparative advantage focus on ada di-
intensif komoditas tenaga kerja dan keunggulan komparatif Indonesia yang fokus pada
resource-intensive commodities. sumber daya intensif komoditas.
Table 4: Revealed comparative advantage (RCA) of China's and Indonesia's export Tabel 4:
keunggulan komparatif Terungkap (RCA) dari China dan ekspor Indonesia
commodities 1988 komoditas 1988
Oil, mineral and Minyak, mineral dan
metal logam
Agriculture Pertanian
Processing Pengolahan
Food Makanan
Manufacture Pembuatan
China Cina
0.5229 0.5229
0.7264 0.7264
0.7015 0.7015
1.0916 1.0916
Indonesia Indonesia
2.5299 2.5299
1.4995 1.4995
1.7842 1.7842
0.756 0.756
Agriculture- Pertanian-
intensive intensif
Mineral- Mineral
intensive intensif
Labour- Buruh-
intensive intensif
Capital- Modal-
intensive intensif
China Cina
0.7596 0.7596
0.5906 0.5906
3.4531 3.4531
0.6736 0.6736
Indonesia Indonesia
1.8748 1.8748
2.2167 2.2167
1.2559 1.2559
0.3705 0.3705
Source: NAPES. Sumber: NAPES. http://napes.anu.edu.au/nph/rcademo.html
http://napes.anu.edu.au/nph/rcademo.html
The revealed comparative advantage index of a country's given product category is Keunggulan
komparatif mengungkapkan indeks yang diberi kategori produk itu sebuah negara
defined as the quotient of two ratios. didefinisikan sebagai hasil bagi dua rasio. The numerator is
the share of the product category¶s pembilang adalah bagian dari kategori produk
export in the country's total exports, while the denominator is the share of the world¶s ekspor's
total ekspor negara itu, sementara penyebut adalah bagian dari dunia itu
total exports of the product category in the world's total exports of all products. total ekspor dari
kategori produk di's total ekspor dunia dari semua produk. An index Indeks

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88
greater than unity in a particular product category 'reveals' that the country has a lebih besar dari
kesatuan dalam kategori produk tertentu 'mengungkapkan' bahwa negara memiliki
'comparative advantage' in the production of that product category, whereas an index
'Keunggulan komparatif' dalam produksi dari kategori produk, sedangkan indeks
smaller than unity 'reveals' that the country has a 'comparative disadvantage'. lebih kecil dari
persatuan 'mengungkapkan' bahwa negara itu telah 'a komparatif' merugikan. As the Sebagai
magnitude of an index becomes larger, its comparative advantage increases or its besarnya
indeks menjadi lebih besar, meningkatkan keunggulan komparatif atau yang
comparative advantage decreases, whichever the case may be. menurun keunggulan komparatif,
mana yang mungkin terjadi. Other things being equals, Hal-hal lain yang sama,
the larger is the index, the greater is the comparative advantage or the smaller is the semakin
besar adalah indeks, semakin besar keunggulan komparatif atau yang lebih kecil adalah
comparative advantage. keunggulan komparatif.
We should caution the interpretation of the indices of revealed comparative advantage. Kita
harus hati-hati penafsiran indeks keunggulan komparatif terungkap.
They are calculated from actual export statistics of any given country and the Mereka dihitung
dari statistik ekspor yang sebenarnya setiap negara dan
corresponding export statistics for the world as a whole. statistik ekspor yang sesuai bagi dunia
secara keseluruhan. As such they may reflect the Dengan demikian mereka dapat mencerminkan
underlying 'real' comparative advantages or disadvantages of the economy, but they may
mendasari 'real' keunggulan komparatif atau kerugian ekonomi, tetapi mereka mungkin
also reflect the success or failure to deploy its resources efficiently. juga mencerminkan
keberhasilan atau kegagalan untuk mengerahkan sumber daya secara efisien. Moreover, changes
in Selain itu, perubahan
the indices over time may reflect the economy's success or failure in upgrading its indeks dari
waktu ke waktu mungkin mencerminkan perekonomian keberhasilan atau kegagalan dalam
melakukan upgrading dari
production technology and its accumulation of human capital. teknologi produksi dan akumulasi
modal manusia. The upgrading of Peningkatan kemampuan
production technology depends not only on domestic research and development activities,
teknologi produksi tergantung tidak hanya pada penelitian domestik dan kegiatan pembangunan,
but also on direct importation of technology and technology transfer via foreign direct tetapi juga
pada impor langsung teknologi dan transfer teknologi melalui asing langsung
investment and the ability to have skilled manpower from other part of the world investasi dan
kemampuan untuk memiliki tenaga terampil dari bagian lain dunia
working and contributing in the economy. bekerja dan berkontribusi dalam perekonomian. A
country may begin with absolutely zero Sebuah negara mungkin mulai dengan benar-benar nol
level of export in electronic components. tingkat ekspor komponen elektronik. Yet, with a
successful effort in attracting Namun, dengan upaya yang berhasil menarik
export-oriented direct foreign investments in the electronic sector may catapult an berorientasi
ekspor investasi asing langsung di sektor elektronik mungkin sebuah katapel
economy into a significant player in the international electronic components market. ekonomi
menjadi pemain signifikan dalam pasar komponen elektronik internasional.
APEC study (1999) on RCA of each country in this region during 1980-1995 also APEC studi
(1999) tentang RCA masing-masing negara di wilayah ini selama 1980-1995 juga
indicated China's and Indonesia had different comparative advantage. ditunjukkan China dan
Indonesia memiliki keunggulan komparatif yang berbeda. In the APEC Dalam APEC
(1999) study, commodity exports are aggregated into four product categories, namely, (a) (1999)
studi, ekspor komoditas dikumpulkan menjadi empat kategori produk, yaitu, (a)
natural resource intensive products; (b) unskilled labour intensive products; (c) sumber daya
alam produk intensif, (b) tenaga kerja tidak terampil produk intensif; (c)
technology intensive products, and (d) human capital intensive products. teknologi intensif
produk, dan (d) modal manusia produk intensif.
33
Indonesia had Indonesia telah
a comparative advantage in natural resource intensive products, and it had a comparative
keunggulan komparatif dalam sumberdaya intensif produk alami, dan mempunyai perbandingan
disadvantage in unskilled labour-intensive products, technology intensive products, and
kelemahan dalam produk padat karya tidak terampil, produk teknologi intensif, dan
human capital-intensive products throughout the period. manusia padat modal produk sepanjang
masa. Comparing to Indonesia, China Dibandingkan dengan Indonesia, Cina
has obvious comparative advantage in the production of unskilled labour-intensive memiliki
keunggulan komparatif yang jelas dalam produksi tenaga kerja tidak terampil karya
products, technology intensive products, and human capital-intensive products produk, intensif
produk teknologi, dan produk-produk padat modal manusia
throughout the period of 1980-1995. selama periode 1980-1995.
Second, intra-industry trade between China and Indonesia had taken place and will Kedua, intra-
industri perdagangan antara China dan Indonesia telah terjadi dan akan
increase. meningkat. Grubel-Lloyd Index is often used as a major indicator measuring Grubel-
Lloyd Index sering digunakan sebagai indikator utama pengukuran
intra-industry trade. intra-industri perdagangan. Intra-industry trade between China and AEASN
tended to widen Intra-industri perdagangan antara China dan AEASN cenderung untuk
memperluas
since 1990s, so did intra-industry trade between China and Indonesia (Wang Qin 2003). sejak
tahun 1990-an, begitu pula industri perdagangan intra antara China dan Indonesia (Wang Qin
2003).
Table 5 shows the continually increase of intra-industry between China and ASEAN Tabel 5
menunjukkan peningkatan terus intra-industri antara China dan ASEAN
33
Natural resource intensive products include food and live animals (chiefly for food); beverage
and intensif sumber daya alam termasuk produk makanan dan binatang hidup (terutama untuk
makanan); minuman dan
tobacco; crude materials, mineral fuels; animal and vegetable oils; manufactured goods classified
by tembakau, bahan mentah, bahan bakar mineral, hewan dan minyak nabati, barang-barang
manufaktur diklasifikasikan oleh
material such as leather, wood manufactures, pearls, precious stones, pig iron. bahan seperti
kulit, kayu manufaktur, mutiara, batu berharga, pig iron.
Unskilled labor-intensive products will include textile and textile products; manufactured goods
like produk padat karya tidak terampil akan mencakup tekstil dan produk tekstil, barang-barang
manufaktur seperti
furniture, clothing, footwear, toy. furnitur, pakaian, alas kaki, mainan.
Technology intensive products include chemicals; machinery and transport equipment;
telecommunication intensif produk Teknologi meliputi bahan kimia, mesin dan peralatan
transportasi; telekomunikasi
equipment; office machines; computers; aircraft; scientific instruments. peralatan, mesin kantor,
komputer, pesawat udara; instrumen ilmiah.
Human capital-intensive products include dyes and paints; steel; paper; non-electrical parts,
tools; padat modal produk Manusia termasuk pewarna dan cat, baja, kertas;-bagian non listrik,
peralatan;
watches and clocks; printed matters; musical instruments. jam tangan dan jam, barang cetakan,
alat-alat musik.

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99
(including Indonesia). (Termasuk Indonesia). Additionally, China's entry into WTO and
establishment of Selain itu, China masuk ke WTO dan pembentukan
China-ASEAN FTA will promote increasing intra-industry trade between China and Cina-
ASEAN FTA akan mendorong perdagangan intra-industri meningkat antara Cina dan
Indonesia. Indonesia. It was proven by Balassa and Bauwens (1987) that intra-industry trade and
Hal ini dibuktikan oleh Balassa dan Bauwens (1987) yang intra-industri perdagangan dan
joining regional economic organization like FTA are positive related. bergabung dengan
organisasi ekonomi regional seperti FTA positif terkait. In other words, Dengan kata lain,
the establishment of regional economic organization will contribute more to increase
pembentukan organisasi ekonomi regional akan memberikan kontribusi lebih untuk
meningkatkan
intra-industry trade within this region. intra-industri perdagangan di kawasan ini.
Table 5: Grubel-Lloyd Indices between China and five ASEAN countries 1993-2001 Tabel 5:
Grubel-Lloyd Indeks antara China dan lima negara ASEAN 1993-2001
44
ASEAN-5 Singapore Philippine Malaysia ASEAN-5 Filipina Malaysia Singapura
Thailand Thailand
Indonesia Indonesia
1993 1993
0.36 0.36
0.38 0.38
0.27 0.27
0.29 0.29
--- ---
0.28 0.28
1994 1994
0.42 0.42
0.36 0.36
0.26 0.26
0.27 0.27
--- ---
0.24 0.24
1995 1995
0.41 0.41
0.39 0.39
0.26 0.26
0.31 0.31
--- ---
0.25 0.25
1996 1996
0.46 0.46
0.42 0.42
0.34 0.34
0.34 0.34
0.27 0.27
0.26 0.26
1997 1997
0.47 0.47
0.40 0.40
0.26 0.26
0.37 0.37
0.35 0.35
0.24 0.24
1998 1998
0.46 0.46
0.46 0.46
0.34 0.34
0.43 0.43
0.35 0.35
0.30 0.30
1999 1999
0.57 0.57
0.54 0.54
0.44 0.44
0.60 0.60
0.51 0.51
0.47 0.47
2000 2000
0.58 0.58
0.55 0.55
0.44 0.44
0.54 0.54
0.62 0.62
0.47 0.47
2001 2001
0.55 0.55
0.53 0.53
0.51 0.51
0.46 0.46
0.40 0.40
0.49 0.49
Third, steadily increase of foreign trade between China and Indonesia since 1985 Ketiga, terus
meningkatkan perdagangan luar negeri antara China dan Indonesia sejak tahun 1985
strongly proves that the economic complementarity lies between them. sangat membuktikan
bahwa komplementaritas ekonomi terletak di antara mereka.
Of course, we can't deny the China-Indonesia economic competitiveness, which is Tentu saja,
kita tidak dapat menyangkal China-Indonesia daya saing ekonomi, yang
mainly on third country markets and attracting foreign investment. terutama pada pasar negara
ketiga dan menarik investasi asing.
  ’"$0 3"#1 ’#*#"$3 $0,,
’0$*,
".

 3     $  # *% " .


,%#**#0++0"*+,$"
# #
In an increasingly integrated world economy, it is utterly insufficient to analyze Dalam ekonomi
dunia semakin terintegrasi, itu sama sekali tidak cukup untuk menganalisis
China-Indonesia economic relations in isolation from the two countries respective China-
Indonesia hubungan ekonomi di isolasi dari kedua negara masing-masing
relations with the rest of the world. hubungan dengan sisa dunia. China's entry into WTO and
establishment China masuk ke WTO dan pendirian
China-ASEAN FTA will affect the development of China-Indonesia economic Cina-ASEAN
FTA akan mempengaruhi perkembangan ekonomi Cina-Indonesia
relations. hubungan.
     )   *          ¯)
 *      
     
One word is often used to assess the impact of China's accession to WTO on ASEAN Satu kata
yang sering digunakan untuk menilai dampak's aksesi China ke WTO di ASEAN
and China that Challenges and opportunities coexist. dan Cina yang hidup berdampingan
Tantangan dan peluang. The challenges for Indonesia Tantangan bagi Indonesia
from China's entry into WTO may be generalized as three dimensions: 1) China¶s dari's
masuknya Cina ke WTO dapat digeneralisir sebagai tiga dimensi: 1) China
products compete in Indonesia domestic market. produk bersaing di pasar dalam negeri
Indonesia. As a WTO member, China is entitled Sebagai anggota WTO, Cina berhak
to enjoy the same rights as other WTO members, and Indonesia should provide with untuk
menikmati hak yang sama sebagai anggota WTO lainnya, dan Indonesia harus menyediakan
dengan
same preference to China like open domestic market. sama preferensi ke Cina seperti pasar
domestik terbuka. 2) China's products compete 2), produk Cina bersaing
with Indonesia's products in third country market such as USA, Japan and EU. dengan produk-
produk Indonesia di pasar negara ketiga seperti Amerika Serikat, Jepang dan Uni Eropa. USA,
USA,
44
Zhao (2004). Zhao (2004).

c  c 
¯  
    ¯  
10 10
Japan and EU are the three major export markets of both China and Indonesia. Jepang dan Uni
Eropa merupakan tiga pasar ekspor utama kedua Cina dan Indonesia. China¶s China
products will enter these markets as other WTO members and compete with produk akan
memasuki pasar ini sebagai anggota WTO lain dan bersaing dengan
Indonesian products, especially those products which China has obvious comparative Produk
Indonesia, terutama produk yang China telah jelas komparatif
advantage such as unskilled labour-intensive products, technology intensive products,
keuntungan seperti produk padat karya tidak terampil, intensif produk teknologi,
and human capital-intensive products. dan produk manusia padat modal. 3) China will compete
with Indonesia in 3) China akan bersaing dengan Indonesia dalam
attracting FDI. menarik FDI. As we seen, FDI that flows to Indonesia had decreased sharply after
Seperti yang kita lihat, PMA yang mengalir ke Indonesia mengalami penurunan tajam setelah
Asian financial crisis because of Indonesia's bad political and economic environment. Krisis
keuangan Asia karena buruk politik dan ekonomi Indonesia.
Even until now, FDI outflow from Indonesia still happens. Bahkan sampai sekarang, arus keluar
FDI dari Indonesia masih terjadi. According to Economic Menurut Ekonomi
Intelligence estimated, Indonesian domestic capital outflow reached about US$ 660 Intelligence
memperkirakan, arus keluar modal dalam negeri Indonesia mencapai sekitar US $ 660
million and FDI outflow reached about US$ 57.9 billions during 2001-2003. juta dan keluar FDI
mencapai sekitar US $ 57,9 miliar selama 2001-2003.
55
Some of Beberapa
FDI outflow from Indonesia may turn to China, Vietnam, Cambodia and Myanmar. arus keluar
FDI dari Indonesia dapat beralih ke Cina, Vietnam, Kamboja dan Myanmar.
China's accession to WTO provides opportunities for Indonesia at the same time. Teman-aksesi
China ke WTO memberikan kesempatan bagi Indonesia pada waktu yang sama.
China is responsible to open its domestic market for WTO members and has mandate Cina
bertanggung jawab untuk membuka pasar domestik bagi anggota WTO dan memiliki mandat
to liberalize regulations related to trade and investment as it enjoys the rights, which untuk
liberalisasi peraturan yang terkait dengan perdagangan dan investasi karena menikmati hak-hak,
yang
inevitably increase Indonesia exports and investment to China. pasti meningkatkan ekspor
Indonesia dan investasi ke China. Fist of all, China should Fist dari semua, China harus
cut import tariffs and eliminate non-tariff barriers. memotong tarif impor dan menghilangkan
hambatan non-tarif. China promises average import Cina janji impor rata-rata
tariff rate will be cut to 10 percent that is a little bit lower than average level of tarif akan
dipotong sampai 10 persen yang sedikit lebih rendah dari tingkat rata-rata
developing countries by 2005. negara-negara berkembang pada tahun 2005. From 1 January
2002, China began to cut average Sejak 1 Januari 2002, China mulai memotong rata-rata
import tariff rate from 15.3 percent to 12 percent with covering 5300 products. tarif impor dari
15,3 persen menjadi 12 persen dengan 5300 yang meliputi produk. Of Dari
them, import tariff rates of seafood, crude oil and petroleum products refined, wood, mereka,
tingkat tarif impor makanan laut, minyak mentah dan produk minyak olahan, kayu,
paper and articles of paper, chemical products, electronic products had been cut by 25 kertas dan
barang dari kertas, produk kimia, produk elektronik telah dipotong oleh 25
percent. persen. Those products are Indonesia major exports to China. Mereka produk utama
ekspor Indonesia ke China. Without question, it Tanpa pertanyaan, itu
would enlarge Indonesia exports to China. akan memperbesar ekspor Indonesia ke China.
Secondly, the openness of all sectors, Kedua, keterbukaan dari semua sektor,
especially service sectors, and liberalization of economy will enlarge mutual sektor jasa
khususnya, dan liberalisasi ekonomi akan memperbesar saling
investment and economic cooperation between China and Indonesia. investasi dan kerjasama
ekonomi antara China dan Indonesia.
In addition, China's entry into WTO has one meaning beyond economy for Indonesia. Selain
itu,'s masuknya Cina ke dalam WTO memiliki satu arti luar ekonomi untuk Indonesia.
It is that China's membership may improve their bargaining power as a developing Hal ini yang
keanggotaan China mungkin meningkatkan daya tawar mereka sebagai berkembang
country vis-à-vis developed countries (Atje and Guduh 1999) and struggle more negara vis-à-vis
negara-negara maju (Atje dan Guduh 1999) dan perjuangan lebih
benefits for developing countries. manfaat bagi negara-negara berkembang.
In fact, China's entry into WTO provides challenges and opportunities not only for Bahkan,'s
masuknya Cina ke dalam WTO memberikan tantangan dan peluang tidak hanya untuk
Indonesia, but also for China. Indonesia, tetapi juga untuk China. In order to reduce challenges
from China's entry into Dalam rangka mengurangi Entri tantangan dari Cina ke
WTO for China and ASEAN and reinforce China's and ASEAN's competitive WTO untuk China
dan ASEAN dan memperkuat China dan ASEAN kompetitif
capacity in the process of globalization, China and ASEAN finally agreed to set up kapasitas
dalam proses globalisasi, Cina dan ASEAN akhirnya sepakat untuk mengatur
China-ASEAN FTA within 10 years in 2002. Cina-ASEAN FTA dalam waktu 10 tahun pada
tahun 2002.
       
+        ¯
  
+    
       
Theoretically speaking, FTA will benefit member countries by means of two ways: Secara teori,
FTA akan menguntungkan negara-negara anggota melalui dua cara:
static effect like trade creation and dynamic effect like enhancing labour productivity efek statis
seperti penciptaan perdagangan dan efek dinamis seperti meningkatkan produktivitas tenaga
kerja
and accumulating capital. dan mengumpulkan modal. FTA between China-ASEAN not only
includes liberalizing FTA antara China-ASEAN tidak hanya mencakup liberalisasi
trade, but also includes the liberalization of technology and investment and economic
perdagangan, tetapi juga mencakup teknologi dan liberalisasi investasi dan ekonomi
cooperation. kerjasama. So China and ASEAN FTA will take positive effects on GDP and
welfare Jadi Cina dan ASEAN FTA akan membawa dampak positif terhadap PDB dan
kesejahteraan
55
      ,-.%    , International Daily (Indonesia), 15 May
2004. /       ,  -.%     0 International Harian
(Indonesia), 15 Mei 2004.

c  c 
¯  
    ¯  
11 11
of China and Indonesia as well as their trade. Cina dan Indonesia serta perdagangan mereka.
The simulations conducted by the ASEAN Secretariat using the Global Trade Analysis Simulasi
yang dilakukan oleh Sekretariat ASEAN dengan menggunakan Analisis Perdagangan Global
Project (GTAP version 4) suggest that an ASEAN-China FTA will increase ASEAN¶s Proyek
(GTAP versi 4) menunjukkan bahwa FTA ASEAN-China akan meningkat ASEAN
exports to China by 48 percent and China's exports to ASEAN by 55.1 percent. ekspor ke Cina
sebesar 48 persen dan Ekspor China untuk ASEAN oleh 55.1 persen.
Among the ASEAN countries, the biggest gainers in exports are Singapore, Malaysia, Di antara
negara-negara ASEAN, diuntungkan terbesar di ekspor adalah Singapura, Malaysia,
Thailand and Indonesia, whose export value rises by US$ 36.39 billions, 32.07 billions, Thailand
dan Indonesia, yang nilai ekspor meningkat sebesar US $ 36,39 miliar, 32.07 miliar,
29.07 billions and 26.56 billions respectively. 29,07 miliar dan 26,56 miliar masing-masing. The
biggest gainers for ASEAN by Terbesar diuntungkan untuk ASEAN oleh
sectors are textiles and apparel, electrical appliances and machinery and other sektor-sektor
tekstil dan pakaian jadi, peralatan listrik dan mesin dan lainnya
manufactures. manufaktur. Indonesia's exports of other manufactures to China will rank first
which Ekspor Indonesia lainnya manufaktur ke China akan peringkat pertama yang
rise by US$ 1.3 billions. meningkat US $ 1,3 miliar. At same time, the biggest gainers for China
are also textiles Pada saat yang sama, diuntungkan terbesar bagi China juga tekstil
and apparel, electrical appliances and machinery and other manufactures. dan pakaian jadi,
peralatan listrik dan mesin dan lainnya manufaktur. China¶s China
exports of other manufactures to Indonesia also rank fist which rise by 528 million. ekspor
lainnya manufaktur untuk Indonesia juga peringkat tinju yang naik sebesar 528.000.000.
Table 6: Changes in exports and GDP with China-ASEAN FTA Tabel 6: Perubahan ekspor dan
PDB dengan China-ASEAN FTA
66
GDP (US$ million) GDP (US $ juta)
Exports Ekspor
(US$ million) (US $ juta)
Absolute increase Absolute meningkatkan
Percentage (%) increase Persentase (%) meningkatkan
China Cina
2656.09 2656.09
2214.9 2214.9
1.12 1.12
Indonesia Indonesia
1371.60 1371.60
2267.8 2267.8
0.27 0.27
Another simulation conducted by Chinese Professor Zhang Bowei and Li kungwang Hasil
simulasi lainnya yang dilakukan oleh Cina Profesor Zhang Bowei dan Li kungwang
(2003) using GTAP version 5 and Computable General Equilibrium(CGE) made same (2003)
menggunakan versi GTAP 5 dan Komputasi Keseimbangan Umum (CGE) yang dibuat sama
conclusion that all members countries including China and Indonesia can get positive
kesimpulan bahwa semua negara anggota termasuk Cina dan Indonesia bisa mendapatkan positif
benefit in trade, GDP and welfares. manfaat dalam perdagangan, PDB dan kesejahteraan.
The removal of trade and investment barriers will certainly lower transaction costs, Penghapusan
hambatan perdagangan dan investasi akan biaya transaksi yang lebih rendah tentu,
raise economic efficiency, upgrade product quality, increase economies of scale and
meningkatkan efisiensi ekonomi, kualitas produk upgrade, peningkatan skala ekonomi dan
scope etc. All of these will help improve external competitiveness in third country ruang lingkup
dll Semua ini akan membantu meningkatkan daya saing eksternal di negara ketiga
market. pasar. The (net) trade creation effects could be substantial, and so are the bigger The)
perdagangan efek penciptaan bersih (bisa besar, dan demikian pula lebih besar
flows of trade-related investment arus investasi yang berhubungan dengan perdagangan
Productive activities and industries will have to upgrade and move on to a different kegiatan
produktif dan industri akan harus meng-upgrade dan beralih ke yang berbeda
level of comparative advantage ± through comprehensive trade and investment tingkat
keunggulan komparatif - yang komprehensif melalui perdagangan dan investasi
liberalization and, on the other hand, through economic growth, social development liberalisasi
dan, di sisi lain, melalui pertumbuhan ekonomi, pembangunan sosial
and a rising standard of living over time. dan standar hidup meningkat dari waktu ke waktu. Such
a movement will make room for others Gerakan seperti ini akan membuat ruang untuk orang lain
to fill up the vacant economic space. untuk mengisi ruang ekonomi kosong.
In one words, China-ASEAN FTA is a win-win arrangement that will benefit China Dalam satu
kata, China-ASEAN FTA adalah pengaturan menang-menang yang akan menguntungkan Cina
and Indonesia as a whole. dan Indonesia secara keseluruhan. One thing should be mentioned here
that some sectors and Satu hal yang perlu disebutkan di sini bahwa beberapa sektor dan
enterprises will face big challenges and even suffer loses like textiles and shoes in short
perusahaan akan menghadapi tantangan besar dan bahkan menderita kehilangan seperti tekstil
dan sepatu di singkat
term, but this is just results of FTA. panjang, tapi ini hanya hasil dari FTA. During the process of
FTA, reasonable Selama proses FTA, wajar
intra-industry division in those sectors after competing each other will form finally intra-industri
divisi di sektor tersebut setelah bersaing satu sama lain akan membentuk akhirnya
with torture. dengan penyiksaan.
66
ASEAN-China Export Group on Economic Cooperation (2001: 150±152). ASEAN-China
Ekspor Kelompok Kerjasama Ekonomi (2001: 150-152).

c  c 
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12 12
China's entry into WTO and FTA between China and ASEAN are positive response Entri Cina
ke WTO dan FTA antara China dan ASEAN adalah respon positif
for China and ASEAN to face the challenges from economic globalization. It will be Ini akan
helpful to develop economic relations between China and Indonesia in long run. As for Adapun
China and Indonesia respectively, it is clear that they need to formulate a strategic
response to challenges and find niches, complementary opportunities and benefit from
China's entry into WTO and FTA between China and Indonesia.
"#2#$##
Although the economic relations between China and Indonesia had made big
progresses comprehensively in last decades, bilateral trade had been occupied big
portion and mutual investment remains relative small in the size of their economic
relations, nay, developed non-symmetrical. Indonesia's investments in China are
nearly 20 times more than China's investments in Indonesia. Indonesia began investing
in China in 1984. According to Chinese government statistics, Indonesia's investments
in China totalled up to 970 contract numbers with contract value of US$ 2.024 billions
till March of 2003. On the other hand, China has opened in Indonesia 60 non-trading
joint ventures and enterprises under joint management, with their investment totalling
US$ 0.27 billions, which Chinese investments reach US$ 0.163 billions till March
2003 including 18 service enterprises with value of US$ 0.105 billions, 39 processing
enterprises with value of US$ 34.92 million, and 3 fishing enterprises with value of
US$ 23.31 million (Ministry of Commerce of the People's Republic of China 2004).
Total Chinese investments this year is about US$ 1.5 billion. Previously, it was only
US$ 300 million.
77
In June of 1996, the Chinese People's Insurance Company opened a
branch in Jakarta. In April of 2003, Bank of China reopened its branch and business in
Jakarta. Jakarta.
China's investments in Indonesia are mainly resources-oriented and market-oriented
investments. investasi.
88
For China, Indonesia are natural resources supplier and big potential
market because Indonesia is with 0.21 billion populations and abundant in natural
resources such as oil and gas, mineral, wood, palm oil and so on which are badly
needed by China. China is more and more shortage of natural resources with rapidly
economic growth. pertumbuhan ekonomi. Petroleum, in particular, is becoming a cause for
concern. China'soil
consumption last year hit 245 million tones, making it the world's second biggest
consumer of oil after America. In 2020, it is expected to become the world'sbiggest oil
importer, with foreign oil resources making up 60 per cent of its total consumption. To Untuk
supplement its diminishing resources, China should look towards South-east Asia, a
precious land where China can obtain rich resources. Indonesia, for instance, has rich
mineral and forest resources, as well as oil reserves amounting to about 120 billion
barrels. In resources-oriented investments aspect, there are huge mainland China¶s
invests in oil and gas exploration. CNOOC Ltd is a state-owned China National
Offshore Oil Corp., China's third largest oil producer after No.1 PetroChina and No.2
Sinopec. In January of 2002, CNOOC, which has been expanding aggressively outside
China, inked its largest overseas deal worth $585 million for the Indonesian oil
77
  ! , no.46/IV/ 20-26 July 2004.
88
Zhan Xiaoning, a senior official in investment with UNCATD, classifies Chinese overseas
investment
as four types: :resource-oriented, market-oriented, efficiency-oriented and technology-oriented
investment. investasi.

c  c 
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13 13
operations of Spain'sRepsol-YPF. It makes CNOOC the largest offshore oil producer
in Indonesia. di Indonesia. In February of 2004, CNOOC succeeded in buying 20.77 percent of
British BG's shares in Muturi Ltd at price of US$ 9.81 million and CNOOC became
the biggest stockholder of Muturi Ltd whose share in Mutri Ltd rose from 44.0 percent
to 64.77 percent and whose share in Tangguh LNG plant in Papua rose from 12.5
percent to 16.96 percent.
99
In April of 2002, China's largest oil company, PetroChina
made its first overseas purchase in Indonesia worth $216 million for American Devon
Energy Corp.'soil and gas operations in the country. So the increase in investment in
recent years has taken place in the oil and gas sectors, valued at about US$ 1 billion. In Dalam
market-oriented investments aspect (in terms of processing manufacture), mainland
China's light industry such as household electrical appliances and motorcycles faces
big challenge of relative overcapacity of productivity, but has strong competitiveness
in terms of price. These enterprises have to find foreign markets to satisfy their
overcapacity and Indonesia is just suitable market. For instance, in electronic sector,
many well-known brands in China, like Cang Hung, Kang Cia and TCL, are marketed
and invest in Indonesia. Bicycle manufacturers have also opened spare parts plants in
Indonesia, like Jia Ling, Lif Fan, Chen Zhen and Pian Ma.
Indonesian-Chinese businessmen welcome investments from China and want to play
important role in the process of China's investment in Indonesia. Overseas ethnic
Chinese who attended The Third Overseas Chinese Forum Worldwide
10 10
held in
Beijing on 15-18 July 2004 expressed their willing that they want to act as a good
partner and play bridge role in establishment of China-ASEAN FTA and in the process
of Chinese enterprises 'going out'. Famous Chinese-Indonesians like Mr. Lin Wenjing
(president director of SALIM GROUP), Mr. The Ning King (Chairman of ARGO
MANUNGGAL GROUP) and Mr. Alim Markus (president director of MASION
GROUP) attended this forum. Mr. Lin Wenjing made a speech on Ethnic Chinese
businessmen Advantages in the Process of Establishment of China-ASEAN FTA. He Dia
said that ethnic Chinese businessmen posses four advantages as follows: first, having
strong economic capacity; second, having deep influence in local and internal; third,
interested in taking part in FTA; fourth, having more experience in domestic and
international investment. In fact, many overseas Chinese businessmen invest in
mainland of China in one hand and act as cooperate partner of China's enterprises in
Indonesia. Indonesia. For instance, MASION GROUP once built a plant in hometown Fujian
province, and established three joint ventures that are Pt. Shanghai Masion Oleo
Chemical Industry, PT. Shanghai Masion Tooth Paste Industry and PT. Shanghai Menculik
Maspion Printing Ink Industry with Chinese enterprises. To succeed in overseas market,
Mr. Oei Hong Leong suggested five steps for Chinese firms to take: establish a
domestic presence first as a back-up; groom daring and visionary corporate leaders;
seek overseas partners, cooperate with other Chinese firms instead of engaging in price
wars; and integrate the efforts of overseas Chinese firms locally when China¶s
investments go out abroad (Chan 2004).
Although Chinese investment in Indonesia is still small, it is tendency to increase. That Itu
99
  !  ¯  , 4 February 2004, C2.
10 10
The Third Overseas Chinese Forum was jointly organized by the Overseas Chinese Affairs
Office of
the State Council and the Chinese Overseas Exchanges Association.

c  c 
¯  
   
14 14
is because: 1) apart from the need for resources, Chinese firms may promote
cooperation with Indonesian counterparts in the areas of agriculture, technology,
finance, communications, trade and services. As UNCATED stated, China is not only a
major receiver of foreign direct investment but also is gradually turning into an
exporter of capital. Statistics from UNCATD show that China's direct overseas
investment exceeded US$ 35 billion in 2003, covering more than 160 countries and
regions. daerah. 2) China's openness enters a new stage that the model of capital flow changes
from single-way inflow of capital to double-way flow of Capital. Moreover, China are
upgrading its industrial structure and integrate its economy into globalization, more
and more enterprises including state-owned and private enterprises go abroad to
investment for seeking resources, market, efficiency. 3) The establishment of
China-ASEAN FTA will be helpful to promote China's investment in Indonesia. FTA FTA
requires member countries to simplify FDI application and liberalize FDI system. It Ini
makes mutual investment between China and Indonesia easier and increase. 4) 4)
Indonesia begins to pay more attention to attract China's investments. Indonesia will Indonesia
akan
host a trade fair in Beijing from 30 August to 3 September in 2004. The five-day event
will focus on Indonesian enterprises that work in sectors including oil, gas, mining,
tourism, agriculture, fishery and papermaking.
It is worth to note for China's investments that there are many obstacles in Indonesia
that are political uncertainty, labour law, corruption, lagging infrastructure. Labour law Hukum
Perburuhan
and corruption, in particular, are be strongly blamed by Indonesia entrepreneurs and
foreign entrepreneurs, which is one reason why FDI in Indonesia transfer to invest in
other countries. negara lainnya.
In addition, China should pay attention to the negative impact on Indonesian Chinese
enterprises during the process of strengthening the economic relations between China
and Indonesia and FTA between China and ASEAN. When Chinese products, mainly
labour-intensive products like shoes, apparel and home appliance, pour into Indonesian
market, it may make some enterprises close and workers loose their jobs. Now we can
hear many voices from Indonesia that China's products have flooded in Indonesia and
complain about their low quality.
Any way, mutual investment between China and Indonesia will be more and more
import in the economic relations between two countries.
   # #$0
The relation between China and Indonesia is always an up to date topic for scholars.
The economic relations between China and Indonesia had not been smooth since
diplomatic relation first set up in 1950. The economic relations between two countries
experienced three stages, namely slowly development in the period of 1950-1966,
indirect trade in the period of 1967-1984 and restoration and rapidly development from
1985 to up to now.
The trade between China and Indonesia includes not only inter-industry trade but also
intra-industry, and intra-industry trade is tendency to increase. The trade value between
two countries is rising rapidly since 1990. Moreover, mutual investment, engineering

c  c 
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15 15
project and labour service, tourism and economic cooperation in agriculture, energy,
infrastructure and resource exploration between them have been increasing. There are Ada
large potency for China and Indonesia to develop bilateral economic relations.
China's access to WTO and the establishment of China-ASEAN FTA are two
important events that exert big impact on China, Indonesia and their economic
relations. hubungan. The positive impact of these two events on China-Indonesia' economic
relations is more than the negative impact of that in long term. Moreover, China¶s
access to WTO and the establishment of China-ASEAN FTA bring about opportunities
as well as challenges.
China's investment in Indonesia is so far lower than Indonesia's investment in China,
but it appears rapidly developing trend. China's capital outflow is the result that
Chinese economic development enters into a new stage and China integrates itself into
economic
globalization. globalisasi.
China¶s
investments investasi
in di
Indonesia Indonesia
are adalah
mainly terutama
resources-oriented and market-oriented investments. Chinese-Indonesian businessmen
welcome investment from China and want to play important role in the process of
China's investment in Indonesia.
3 # 3#
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