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Economic Statecraft and Strategic Hedging: A Neoclassical Realist Analysis of Qatar’s Housing Investment in Indonesia Ilham Dary Athallah; Hayara Khairia; Tsabita Husna; Ronna Rihadatul Aisy; Zaskia Nurwati Azzahra
Surau Journal of Islamic Studies Vol. 2 No. 2 (2026): Surau Journal of Islamic Studies
Publisher : MD Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63919/surau.v2i2.125

Abstract

This study examines Qatar’s investment in Indonesia’s one million homes program (2024–2026) through the lens of classical realism to reveal the strategic calculations underlying development cooperation between Gulf states and Southeast Asia. Against the backdrop of Indonesia’s acute housing deficit and Qatar’s surplus capital, this research addresses a gap in understanding how power dynamics and national interest shape South-South development finance. Employing a qualitative explanatory single-case design with process tracing and document analysis, this study systematically examines official documents, media reports, and think-tank analyses from December 2024 to March 2026. The findings demonstrate that Qatar’s investment serves as economic statecraft to project geopolitical influence and compensate for military limitations, while Indonesia leverages foreign capital as a self-help mechanism to address domestic stability threats and preserve strategic autonomy through partnership diversification. The study concludes that even apparently altruistic development partnerships are fundamentally shaped by power calculations and interest-balancing. This research contributes a realist account of Gulf-Asia relations and introduces the concept of “balance-of-partnership diversification” as a framework for understanding how middle powers maintain autonomy in an anarchic international system. The findings offer policy guidance for managing the strategic dimensions of development finance, emphasizing the importance of diversified partnerships and delivery credibility.
Designing Trade Cooperation under Regime Complexity: A Rational Design Analysis of the Indonesia-Korea Comprehensive Economic Partnership Agreement Ilham Dary; Hayara Khairia; Tsabita Husna
Moderasi: Jurnal Studi Ilmu Pengetahuan Sosial Vol. 7 No. 1 (2026)
Publisher : Department of Social Studies Education, Faculty of Tarbiyah and Teacher Training, Datokarama State Islamic University of Palu, Central Sulawesi, Indonesia.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24239/moderasi.Vol7.Iss1.625

Abstract

This article examines the Indonesia–Korea Comprehensive Economic Partnership Agreement (IK-CEPA), which entered into force on 1 January 2023, as a case of bilateral trade cooperation within an increasingly complex regional trade environment. The study investigates how the institutional design of IK-CEPA supports economic cooperation and governance between Indonesia and South Korea. Drawing on liberal institutionalism and rational design theory, the research employs qualitative content analysis of the agreement’s legal provisions, supported by implementation documents and official trade and investment data. The findings show that IK-CEPA extends beyond tariff liberalization by establishing formal coordination mechanisms, review procedures, and economic cooperation programs that facilitate policy coordination and capacity-building between the two countries. Early implementation indicates modest changes in bilateral trade performance but stronger continuity in investment cooperation, suggesting that the agreement’s governance functions may be more significant in the short term than its immediate trade effects. This study contributes to the literature by demonstrating how bilateral trade agreements can complement existing regional frameworks and strengthen economic governance through targeted institutional arrangements.