Name: How Indonesia’s new $33 Billion Capital Could Damage the Country’s Reputation
Uploaded: 2024-08-02T04:01:00Z
Duration: 7 min 11 s
Description: Jakarta is the world's fastest sinking city. But the Indonesian government's plan to move the capital 800 miles away risks draining the country's resources and damaging its reputation as investors pull out of the $33 billion project.

https://www.barrons.com/client

Topics

Memberships

Tools

Customer Service

Network

Newsstand

For Business

For Education

For Advertisers

Account

About Barron's

bolded

unBolded

Ken Burns, the filmmaker behind the documentary miniseries "The American Revolution" and others, spoke to Barron's editor at large Andy Serwer.

https://m.wsj.net/video/20260507/0291a39f-ea0f-4e3b-8f5f-c6783863e213/1/hls/manifest-hd-wifi.m3u8

Filmmaker Ken Burns on 'the Most Important Revolution in History'

Jane Fraser, CEO of Citigroup, discusses how they scale their business, their global footprint, and investing in digital assets.

https://m.wsj.net/video/20260506/c85686e1-e814-47e7-a3dc-72a0170fa2c9/1/hls/manifest-hd-wifi.m3u8

Citigroup CEO on Keeping Competitors at Bay

As CEO of Citigroup, Jane Fraser tells Barron’s Andy Serwer about her goals for the future.

https://m.wsj.net/video/20260506/904afc41-63ad-4d30-94d5-fe292999af50/1/hls/manifest-hd-wifi.m3u8

Planning for Growth at Citigroup

Jane Fraser, CEO of Citigroup, sat down for an interview with Barron's Editor at Large Andy Serwer.

https://m.wsj.net/video/20260430/9cbc994b-3c3c-4ab2-994c-1363ccf00ade/1/hls/manifest-hd-wifi.m3u8

Citigroup CEO: 'We're Cheap. Get on the Train.'

Michel Khalaf, chief executive officer of MetLife, discusses how he’s navigating the current market.

https://m.wsj.net/video/20260501/91689664-d41c-4215-8400-ea340e71cf8d/1/hls/manifest-hd-wifi.m3u8

Risk Management in a K-Shaped Economy

“I’m a big believer in a level playing field,” Michel Khalaf, chief executive officer of MetLife, tells Barron’s Andy Serwer.

https://m.wsj.net/video/20260501/0a4674b6-10e7-4a91-bd96-c6a2e6aa7fe2/1/hls/manifest-hd-wifi.m3u8

Why MetLife’s CEO Supports Private Equity in Insurance

Michel Khalaf, chief executive officer of MetLife, spoke to Barron's editor at large Andy Serwer.

https://m.wsj.net/video/20260423/d5471223-ead4-4616-a52a-63b6722abe1e/1/hls/manifest-hd-wifi.m3u8

MetLife's CEO Explains How AI Has Helped the Insurance Company

Constantine Alexandrakis, CEO of the executive search firm Russell Reynolds Associates, discusses the pattern of higher turnover rates and shorter tenures of CEOs.

https://m.wsj.net/video/20260501/2fec28b4-35fb-4ff1-9864-55d5538b0973/1/hls/manifest-hd-wifi.m3u8

Being a CEO Is Becoming More Complicated, According to This Executive

At Barron's

"Your 9-5...is just not going to do it," Nick Magguilli, personal finance expert, said on Barron's Streetwise podcast.

https://m.wsj.net/video/20251216/e6897805-d131-4cc4-9c59-ca03b0c0b958/1/hls/manifest-hd-wifi.m3u8

How to Scale Your Net Worth

TJ Thornton, Head of Global Research Product Marketing at BofA Securities, talks to Jack Hough about his favorite stocks outside of AI.

https://m.wsj.net/video/20251210/f9c1a95c-5a0e-4349-9fe4-73b3ac53bfb8/1/hls/manifest-hd-wifi.m3u8

BofA’s Favorite Non-AI Stocks

Jack Hough talks to TJ Thornton, Head of Global Research Product Marketing at BofA Securities about diversifying stocks to hedge AI risks.

https://m.wsj.net/video/20251210/8e164ff7-1500-4c2f-8713-e891c640a0f4/1/hls/manifest-hd-wifi.m3u8

Evaluating Investing Opportunities Beyond AI

Steve Quirk, chief brokerage officer at Robinhood, breaks down the value of tokenizing stocks in different markets.

https://m.wsj.net/video/20251126/f86d65ea-bd8b-4777-b6b0-80f7bb12027e/1/hls/manifest-hd-wifi.m3u8

Unpacking Tokenization for Everyday Investors

Jack Hough talks to Steve Quirk, chief brokerage officer at Robinhood, about trends in retail investing.

https://m.wsj.net/video/20251126/a9cbdcc6-f060-4fc9-a15e-396924e25946/1/hls/manifest-hd-wifi.m3u8

How Robinhood Reshaped the Trading Landscape for an Entire Generation

Streetwise host Jack Hough sat down with strategist Scott Wren to discuss how the AI-fueled market run stacks up against the dot-com boom.

https://m.wsj.net/video/20251111/bd2e1a5b-1a6e-4543-8133-dcc63f69b5dc/1/hls/manifest-hd-wifi.m3u8

AI vs. The Dot Com Bubble

Bank of America’s Haim Israel shares what’s next for Nuclear Energy development.

https://m.wsj.net/video/20250930/ab4fc336-af44-4af2-8e40-9ae6f04a445e/1/hls/manifest-hd-wifi.m3u8

The Outlook For Nuclear

Jack talks to Lyft CEO David Risher about growth potential in the company.

https://m.wsj.net/video/20250929/ae62b70e-912b-4ce7-ae63-1b2652628bae/1/hls/manifest-hd-wifi.m3u8

Lyft's Ride to Profit

The stock market is expensive. What does that mean for your portfolio? Jack sits down with Franklin Templeton’s Matt Quinlan to talk dividend investing, and whether it’s a good move in a pricey market.

https://m.wsj.net/video/20250911/9c85e132-d710-4458-9467-aa69d4f25ae0/1/hls/manifest-hd-wifi.m3u8

Dividends and Capital Appreciation

Barron's Streetwise

CEO Chris Todd explains how the company is providing core technology to RIAs and broker dealers while building infrastructure to meet future advisor needs in areas like alternative investments and digital currencies.

https://m.wsj.net/video/20260512/06d41382-0347-4765-b253-994badc172a3/1/hls/manifest-hd-wifi.m3u8

Envestnet’s ‘Bullseye’ Strategic Approach  

Interviews with top wealth management professionals about topics including compensation, hiring, marketing, next-gen, and more.

CEO Chris Todd says the company is using AI to increase internal productivity and leveraging its large data set to provide "investment data insights" to help advisors manage client portfolios.

https://m.wsj.net/video/20260512/4207fb3b-4df7-43b2-8c1e-32d3cb75967f/1/hls/manifest-hd-wifi.m3u8

How Envestnet Is Harnessing AI and Data 

Yie-Hsin Hung, president and CEO of State Street Investment Management, describes how the company addresses retirement challenges like increased longevity and the shift of responsibility from pensions to individuals.

https://m.wsj.net/video/20260428/266b9598-bb99-4025-9b2e-d17b76104723/1/hls/manifest-hd-wifi.m3u8

Empowering Investors to Better Prepare for Retirement

Yie-Hsin Hung, president and CEO of State Street Investment Management, says that retirement is a vital business segment, accounting for about a quarter of the company’s global assets.

https://m.wsj.net/video/20260428/ea1e71f0-04bc-4b92-9b82-e52911542bd5/1/hls/manifest-hd-wifi.m3u8

Retirement Is a ‘Very Important Part’ of State Street’s Business

ETF flows reveal a “widening out” of exposure away from large caps, says Yie-Hsin Hung, president and CEO of State Street Investment Management.

https://m.wsj.net/video/20260428/735ae074-7b28-4394-879a-5959b7675c9e/1/hls/manifest-hd-wifi.m3u8

U.S. Investors Are Embracing Small-Cap and Mid-Cap Stocks

Yie-Hsin Hung, president and CEO, says the company is focused on growth in fixed income products, international markets, and the overall wealth category.

https://m.wsj.net/video/20260428/718c379d-03d5-4861-be33-fa3c4f56cef7/1/hls/manifest-hd-wifi.m3u8

Where State Street Investment Management Sees Opportunity

Within five years, “the consumer will have the ability to go online and design their financial advisor—what they look like, how they talk, how they interact, what they remember,” says Rob Nelson, CEO and founder of NorthRock Partners.

https://m.wsj.net/video/20260415/09483094-28db-4623-a9b2-df5b9327dffa/1/hls/manifest-hd-wifi.m3u8

The Future AI Advisor

Rob Nelson, CEO and founder of NorthRock Partners, explains why he is optimistic about the future of financial advice and the potential for advisors to form meaningful client communities.

https://m.wsj.net/video/20260415/4bc66985-8aab-4e8a-b646-8e3023cdd9b0/1/hls/manifest-hd-wifi.m3u8

The Jevons Paradox and Placing a Premium on Community

Rob Nelson, CEO and founder of NorthRock Partners, says clients today place a premium on having free time and peace of mind.

https://m.wsj.net/video/20260415/528964a5-1d56-41bf-9931-bf152533679b/1/hls/manifest-hd-wifi.m3u8

How Client Expectations Have Changed in the Past 15 Years

Barron's Advisor The Way Forward

A “willingness to roll up your sleeves and understand the issues that your clients are facing, not just from an investment perspective,” is common among the industry’s most successful, says Kelly Gaur, a Mercer Advisors regional vice president.

https://m.wsj.net/video/20260319/318adb2f-a888-4f30-b182-c791e27f98ab/1/hls/manifest-hd-wifi.m3u8

Best Advice for Someone Considering Wealth Management as a Career

Kelly Gaur, a Mercer Advisors regional vice president, says she was drawn to working for a registered investment advisor partly because they generally offer a more personalized, modern approach to wealth management.

https://m.wsj.net/video/20260318/5575e9ca-0b48-4fb9-8e43-82aae1b3e3fc/1/hls/manifest-hd-wifi.m3u8

The Appeal of Working for an RIA

“The best client development professionals are those who have served clients in some capacity,” says Kelly Gaur, a Mercer Advisors regional vice president.

https://m.wsj.net/video/20260318/c1638929-6b21-4573-9deb-4f78e1ffa1d7/1/hls/manifest-hd-wifi.m3u8

Client-Facing Experience Can Help Advance Your Career

The Mercer Advisors regional vice president discusses her business development role and tips for breaking into the industry and gaining valuable experience in a non-advisory capacity.

https://m.wsj.net/video/20260318/f2c2c9a5-cb67-4167-a48b-7fe4a9285615/1/hls/manifest-hd-wifi.m3u8

Kelly Gaur: Tips for Pursuing Non-Advisor Roles in Wealth Management

“You want to make sure that everybody's excited and prepared and that you're all pulling the rope in the same direction,” says Nate Fisher, managing director and wealth advisor at Carson Wealth.

https://m.wsj.net/video/20260305/20285ef5-c115-435f-9291-e4f2d5b166a9/1/hls/manifest-hd-wifi.m3u8

A Successful Transition Requires Honesty and a ‘Heavy Lift’

Young advisors considering a succession plan should maximize engagement with clients because “it can take a long time to gain that trust and build those relationships,” says Nate Fisher, managing director and wealth advisor at Carson Wealth.

https://m.wsj.net/video/20260305/236fdaa2-5acb-48e9-b16d-e20b58846487/1/hls/manifest-hd-wifi.m3u8

Succession Planning and Establishing Trust With Clients

The Carson Wealth managing director and wealth advisor says his decision to partner with the firm was driven by the need for increased capacity for holistic services and a clear succession plan for his retiring father.

https://m.wsj.net/video/20260305/33bb1217-c8be-4358-ba17-6238cbab6fa1/1/hls/manifest-hd-wifi.m3u8

Nate Fisher: Lessons Learned From a Successful Partnership

As trust grows, advisors tend to spend less time discussing investments and more time on clients’ families and well-being, says Nate Fisher, managing director and wealth advisor at Carson Wealth.

https://m.wsj.net/video/20260305/d2d3903a-994f-4ae7-82be-706929930b3d/1/hls/manifest-hd-wifi.m3u8

Trusted Advisors Focus Less on Investments, More on Clients' Lives 

Serving tech founders is a full-time, long-term effort that often requires significant upfront work before a successful, revenue-generating relationship is established, says Katie Partridge, a Morgan Stanley private wealth advisor.

https://m.wsj.net/video/20260219/abc63bad-4c7a-474b-b4a8-b4feae461375/1/hls/manifest-hd-wifi.m3u8

Landing Founders as Clients Requires Patience and Hard Work

Barron's Advisor Next Generation

Government policy shapes retirement regardless of savings or lifespan. With Social Security's trust fund facing a 2033 shortfall, what fixes are coming? Our experts discuss policy shifts and how to budget your benefits.

https://m.wsj.net/video/20260410/aea80278-298b-458e-8bcd-f378796d6328/2/hls/manifest-hd-wifi.m3u8

What's Next for Social Security?

Stocks swoop and soar as investors weigh AI hype against rate-cut "tea leaves." Our panelists explain how to drown out the noise, chart your own winning path,and identify investments that offer true long-term rewards.

https://m.wsj.net/video/20260410/586aecf7-117b-4f3e-86f0-6869d907e671/2/hls/manifest-hd-wifi.m3u8

Riding the Market Roller Coaster

The capture of Venezuela’s Nicolás Maduro and Middle East tensions are reshaping oil supply expectations. The U.S. is intervening in energy markets in decades-unseen ways. Experts break down what’s next for oil, gas and energy stocks.

https://m.wsj.net/video/20260212/9779ec13-602a-4a38-bb73-495ff464a24f/1/hls/manifest-hd-wifi.m3u8

Oil and Gas in a Volatile World

For the first time in decades, U.S. power demand is rising - driven by AI data centers, EVs and electrification. Utility and clean-energy stocks are climbing, but costly buildouts threaten affordability. We explore what’s next for the power trade.

https://m.wsj.net/video/20260212/81a81fdd-47b4-44f6-93d1-7597a7fab032/1/hls/manifest-hd-wifi.m3u8

The Gold Rush in Electricity

Will Nvidia and other technology companies keep powering the stock market in 2026? We'll speak with two veteran money managers about their views on tech and their favorite stocks for the coming year.

https://m.wsj.net/video/20251212/5683d7a0-ed1f-4e3c-b913-bb3367ea3abd/1/hls/manifest-hd-wifi.m3u8

Finding Bargains in a Pricey Market

Explore what could go right for investors, and what could go wrong, in a year that will see the AI trade evolve, the Fed's leadership change, and global competition for resources increase in this 2026 Outlook.

https://m.wsj.net/video/20251212/573f5954-c4ab-43e9-804d-f1ea93fbb70c/1/hls/manifest-hd-wifi.m3u8

Meeting the Challenge

Stocks are expensive, risks abound, and AI is about to change the world. Other than that, building a calamity-proof retirement portfolio should be a cinch. Tune in as two veteran money managers size up the markets and share their investment ideas.

https://m.wsj.net/video/20250211/17a5e7d6-7c36-44b0-a35e-bf5ac3a24194/1/hls/manifest-hd-wifi.m3u8

Saving for a Sunny Day

Research shows that people greatly underestimate the healthcare costs they’ll face in retirement. Learn from experts how to estimate those costs, prepare for potential long-term care needs, and manage healthcare expenses in retirement.

https://m.wsj.net/video/20250211/e7c022d9-badf-4e95-8e7c-0b6fce9f7823/1/hls/manifest-hd-wifi.m3u8

Are You Fiscally Fit?

Surging power demand, new energy sources, and growing competition have spurred the utility industry to become more innovative than ever before. Our panelists will unpack the changes afoot and explore what lies ahead for companies, customers, and investors.

https://m.wsj.net/video/20240917/001ea098-1fcc-4da5-9f0e-a3b149bbb2fb/1/hls/manifest-hd-wifi.m3u8

Not Your Father's Utility

Barron's Roundtable

Whether you're leading a transition, building a scalable team, or just trying to stay ahead of the curve, this episode will give you practical insights to lead smarter and grow stronger.

https://m.wsj.net/video/20251010/fd26d60b-d1e6-409b-b51b-101da4aaa368/1/hls/manifest-hd-wifi.m3u8

Next-Gen Leadership Meets Smart Innovation

Electric vehicles sales are growing but not at the pace some expected. Some would-be buyers worry about the range of EV charging, and others are swayed by politics. But innovators from Detroit to Silicon Valley still envision a dramatic shift in how we get around. What’s going on and what’s next?

https://m.wsj.net/video/20240603/5784fa60-791c-47ad-9740-42e4553de5c4/1/hls/manifest-hd-wifi.m3u8

Forces Shaping EV Adoption and the Future of Driving

Success in improving the power grid to accommodate the electricity demands of the future will be a boon for companies doing the work and utilities that succeed. Explore the investing risks and opportunities.

https://m.wsj.net/video/20240522/2b825c69-2687-4d88-923b-0c8f523a2f67/1/hls/manifest-hd-wifi.m3u8

How to Invest in Initiatives to Bolster the Power Grid

Joanna Rotenberg, Fidelity's president of personal investing, discusses ways to make investing more accessible and how to bolster your own financial security.

https://m.wsj.net/video/20231025/8ad733df-ac90-41fd-9655-7761b3e0532c/2/hls/manifest-hd-wifi.m3u8

Mind the Gap: Demystifying Investing

Reshma Kapadia sits down with Cozy Wittman of College Inside Track to discuss how to tackle all things college, from what admission officers are seeking today, to navigating the different ways to funding higher education and evaluating the ROIs.

https://m.wsj.net/video/20230515/b7229011-05cc-42ec-9c16-1d7752ec668d/1/hls/manifest-hd-wifi.m3u8

Decoding the College Search and Financing Puzzle

Nicole Webb, financial advisor and SVP at Wealth Enhancement Group, shares ways to navigate the real estate market this spring whether you are a first-time buyer, a retiree downsizing or someone who is relocating or looking for a second home.

https://m.wsj.net/video/20230424/93eb00e1-caf0-4e83-9fc7-b502a57dc546/1/hls/manifest-hd-wifi.m3u8

Pro Tips on Buying and Selling a Home

Reggie Fils-Aimé, former president and COO of Nintendo of America, joins Barron's deputy editor Alex Eule to discuss his unlikely rise to the top, and the risks he took once there to beat the odds and achieve success.

https://m.wsj.net/video/20220630/61e2296d-ab1a-4216-ae65-24676447c616/1/hls/manifest-hd-wifi.m3u8

How Nintendo's Former President Disrupted the Gaming Industry

2050 Wealth Planners co-CEO Lazetta Rainey Braxton, Sequoia Financial Planners vice president Elizabeth Scheiderer, and MoneyZen founder Manisha Thakor offer tips on how to prepare for recession, inflation, caregiving needs.

https://m.wsj.net/video/20220617/a71025ce-518b-49b9-b098-21417863f8ce/1/hls/manifest-hd-wifi.m3u8

Financial Advice for the Inflation-Weary

Families and advisors have a lot to navigate when it comes to generational wealth transfer. Add sustainable investing to the list. Examine strategies to help close the generational divide. From the Dow Jones Energy & Sustainability event series.

https://m.wsj.net/video/20230210/85cbf3f9-b5ab-4bfa-93c6-f8e8a247d386/1/hls/manifest-hd-wifi.m3u8

Sustainable Investing and the Wealth Transfer

Barron's Events

Level Up

Barron's Explains

Back to Business

Great Investors

MarketWatch

Video Center - Barron's home

Jakarta is the world's fastest sinking city. But the Indonesian government's plan to move the capital 800 miles away risks draining the country's resources and damaging its reputation as  investors pull out of the $33 billion project. Photo: Yasuyoshi Chiba/AFP/Getty Images

https://m.wsj.net/video/20240726/3425d085-df6e-46c2-84fa-9b5a4fd1f6c6/1/hls/manifest-hd-wifi.m3u8

Jakarta is the world's fastest sinking city. But the Indonesian government's plan to move the capital 800 miles away risks draining the country's resources and damaging its reputation as  investors pull out of the $33 billion project.

How Indonesia’s new $33 Billion Capital Could Damage the Country’s Reputation

Narrator: Jakarta, one of the world's most popular cities, is facing an existential crisis.

About 1/3 of the city will be underwater by 2050.

Narrator: It's the fastest sinking city in the world with 40% of its area already below sea level. So the Indonesian government has devised a solution. Move the capital from Jakarta on the island of Java over 800 miles away to Nusantara on the island of Borneo. As seen in this promotional footage, the $33 billion Nusantara aims to modernize Indonesia, reduce regional inequalities, and promote environmental sustainability. Its initial goal was to be completed by 2045. But with investors pulling out, project heads resigning, and little complete, the promised capital risks squandering Indonesia's funds and damaging the country's reputation.

If billions of dollars have gone into building a city in the middle of nowhere that doesn't ever really get started, that would be just a waste of a lot of money that could've been better spent in innumerable ways.

Narrator: Nusantara is strategically located in East Kalimantan on Borneo, chosen for its lower risk of natural disasters, like floods and earthquakes, and its central location.

If you look at Indonesia on a map, Nusantara is placed sort of right at the heart of the country.

Narrator: The move is meant to redistribute wealth and resources from Java.

Andreyka: Indonesia's development model has been described as being Java-centric with infrastructure, with ports, with airports, whereas other islands, other regions of the country, tend to get left behind.

Narrator: Java currently accounts for around 60% of the national economy, and Jakarta has been the country's capital since Dutch colonial times in the 1600s.

The Indonesian government still intends for the economic and business hub of the country to be Jakarta. But at the same time, the relocation of the capital city to Nusantara does provide some opportunities.

Narrator: Promoted as a high-tech city powered entirely by renewable energy, Nusantara plans also include housing for some 2 million people, or 1/5 of Jakarta's population.

The city is essentially intended to be a smart city as well. That's sort of the central guiding ethos.

Narrator: Its central location is also key to another opportunity, shipping.

Andreyka: Establishing new port infrastructure around the capital city site could lead to better connectivity between islands across the country. And building that could in turn help Indonesia play a greater role in terms of the international global shipping trade.

Narrator: But public opinion over Nusantara has been split.

Some people would say that this is an enlightened step by Joko Widodo, who has taken much greater effort to understand the concerns of non-Javanese people than presidents before him. For opponents, this seems like a vanity project that was poorly thought out, designed to get him in the history books without offering clear benefits for Indonesia.

President Jokowi has staked his legacy on this project, so there's a political impetus within the Indonesian government right now to make this attempt land.

Narrator: The first phase of construction, which focuses on the governmental zone of the city, is set to complete in August 2024 before President Widodo leaves office in October. This phase includes building essential infrastructure, like main roads, public transportation, electricity, and water supply. But severe weather and logistical difficulties have hampered construction, sparking concerns about meeting deadlines.

When you look at what the government has announced, they say they're somewhere approximately 80% of the way through phase one, but there still needs to be a lot of progress in terms of infrastructure.

Narrator: And phase one, costing around $3.4 billion, is only about 1/10th of the overall budget. The entire city is budgeted at $33 billion, but the Indonesian government has only pledged 20% of that and is struggling to acquire the rest through domestic and foreign investments.

It's sort of a chicken-and-an-egg problem. Nobody wants to go in and build things unless they know that this is actually going to be a city.

Narrator: SoftBank of Japan withdrew from investment negotiations in 2022. Indonesian news agencies have reported that the government has received letters of intent from over 400 investors so far. But despite Indonesia's efforts, like offering land rights and tax incentives, no significant investments have materialized.

Jon: Yeah, I think a lot of businesses were initially interested but just didn't know how they could extract safe returns for their shareholders, and so ended up backing out or not fully committing.

Narrator: Critics have also pointed out that the initial promises of Nusantara are already at risk. Advocacy groups say that the 990-square-mile area of the city will displace 20,000 indigenous people. And experts say that construction of the new capital city in this location will accelerate deforestation.

Recent reporting indicates that the government has fallen behind on some of its reforestation targets.

Narrator: Experts say that the city's goal to run entirely on renewable energy is undercut by the fact that Indonesia doesn't have enough renewable energy to run the city, let alone build it. The Indonesian government hasn't released plans on how to remedy all of these issues and did not respond to requests for comment. What's more, critics ultimately point out that Nusantara still won't address concerns in Jakarta.

Once the capital city is moved, their problems still exist. The challenges they face still exist.

Jakarta is New York, it's LA, it's Washington, DC, all rolled into one. It is the commercial hub of Indonesia. It is the political hub of Indonesia. It is the entertainment hub of Indonesia. So because of that, it faces so much strain.

Narrator: Moving the capital to Nusantara will distance members of parliament from those challenges.

In some ways, it almost appears as though there's a political incentive to move the capital city away, to remove it from the population.

Then it becomes much harder for ordinary Indonesians to make their anger or frustrations known to legislators. In the worst-case scenario, it would lead to a situation where the vast majority of Indonesians would feel disconnected from their government.

Narrator: The future of the Nusantara project remains highly uncertain. The project's head and deputy head have unexpectedly resigned.

It's obviously a bad sign.

Narrator: And the arrival of a new president could further complicate matters.

Would a President Prabowo prefer to prioritize his sort of initiatives? Or would he continue on projects from his predecessor, President Jokowi?

Narrator: But even if the newly elected Prabowo does decide to see Widodo's vision through-

They will have to divert funding from elsewhere. Indonesia's not a wealthy country and it has a very finite budget. So assuming Prabowo Subianto decides to carry on the tradition of spending rather conservatively, he will have to make tough decisions.

Narrator: And if he doesn't-

There's always the risk that Indonesia could overspend and ends up blowing a hole in the budget.

The long-term viability of the Nusantara capital city project is as of yet undetermined, but will partially depend on whether Indonesia can get the financing it needs, whether there's the political will behind it, and whether the people still continue to believe that this is the right decision to make.