By Bobby Ciputra
Could the finance minister be the gateway to changing the world’s direction?
This question sounds simple, but recent days have provided us with the answer. Indonesia and Nepal both replaced their finance ministers after experiencing dramatic mass movements.
The home of Sri Mulyani, Indonesia’s Finance Minister, was looted by a mob. Even Bishnu Prasad Paudel, Nepal’s Finance Minister and Deputy Prime Minister, had his house burned, and he was beaten, stripped naked, and paraded through the streets. These events were not merely domestic events. They marked a new direction in global geopolitics.
The Beijing Summit and the Message That Changed Everything.
On September 3, 2025, Beijing hosted 24 heads of state. They represented a large portion of the world’s population and also represented the world’s economic powers. Indonesia and Nepal were also in attendance. The meeting was no ordinary forum.
There was a strong message from the two major powers, China and Russia: full commitment. This message was clearly audible, marked by the purging of finance ministries of individuals too close to the IMF, World Bank and the United States.
Within days, two participating countries took action. Indonesia replaced its finance minister. Nepal followed suit, albeit in a far more brutal manner.
This was not just a mere job change, but a sign. It was as if an invisible hand was redrawing the map of global economic power. Was this a coincidence? Or was it a carefully orchestrated scenario?
For a long time, many countries felt constrained. They felt that global economic rules were unfair. Institutions like the IMF and World Bank were considered too dictatorial.
Meanwhile, America and Europe were in trouble. Their influence was beginning to be questioned. In this power vacuum, new alternatives emerged. BRICS Plus, led by China and Russia, was gaining strength. They offered a new financial system, one free from the dominance of the US dollar.
Cleaning Up the Economic Kitchen.
The world’s axis is shifting, beginning with cleaning up the economic kitchen. And why should it start with replacing the Finance Minister?
Indonesia and Nepal are the first two countries to visibly demonstrate their commitment to China and Russia.
A finance minister is not just an official. The position of finance minister is key. It is he who controls the nation’s money. It is he who liaises with international financial institutions. From this seat, the direction of spending, debt, and fiscal policy are decided.
For decades, many developing countries have been subjected to and forced to follow the economic prescriptions of the IMF and World Bank. They promised stability, but often at a high price. Austerity policies, fiscal discipline, privatization, and market liberalization, opening the door wide to foreign capital, often limited the government’s freedom to spend money on its people.
But now the situation has changed. The public sees America and Europe reeling from mounting debt burdens. Their economies are weakening and slowing. Meanwhile, Asian, African, and Latin American countries want to take a different economic path. They want economic management oriented toward the welfare of the people, not simply maintaining global market stability. And to spend more on the people, not just paying off debt.
BRICS Plus Building a New Stage and Future.
This shift in the world’s axis is inseparable from the role of the emerging new alliance, BRICS Plus. An acronym for Brazil, Russia, India, China, and South Africa. Plus, it is expanding to include other countries with a similar vision. They offer an alternative development and financing model that is not tied to Western “terms and conditions.” There are no social budget cuts. No forced privatization.
BRICS Plus is building an economic and financial foundation parallel to the existing system. They have their own development bank (the New Development Bank) and are exploring their own payment system using non-Dollar currencies in trade transactions.
BRICS Plus not only offers an alternative, but also actively encourages other countries to join their ranks. The insistence on “cleansing” the ranks of finance ministers of “IMF people” may be one of the unwritten conditions of commitment to joining. BRICS Plus is a real challenger to the Western economic order.
After Indonesia and Nepal, who else will follow?
This question hangs in the air. Other countries present in Beijing are now under the spotlight. Perhaps the closest are countries in Southeast Asia, Latin America, or Africa, which are also frustrated with the current global economic system.
Brazil, for example, is facing similar public unrest regarding inequality, while South Africa’s economy is struggling under IMF-backed austerity policies. This has created a kind of domino effect, where one country that dares to take action is followed by others.
The Socialist Perspective: An Economy for the People.
We are all currently witnessing the emergence of a multipolar world. A world with many centers of power and poles that attract each other.
So, how does the idea of Socialism view all of this?
Amidst this uncertainty, the idea of Socialism offers a moral compass: an economic system that should serve the people, not the other way around. Our economic system should be for the greatest possible prosperity of the people. And it is time for this idea to rediscover its relevance on the world stage.
Criticism of the IMF and World Bank is a long-standing one. This institution is considered a tool of neoliberalism. Its policies cut subsidies and encouraged privatization. All of this has brought misery to the people.
As the world’s axis shifts, opportunities to realize more just and people-centered ideas become increasingly open.
The challenge then is whether leaders in these countries are able to seize this momentum to build a truly new economic foundation or whether they are simply changing masters, from masters in the West to masters in the East.
Bobby Ciputra is the Chairman of the Indonesian Young Socialist Movement (Angkatan Muda Sosialis Indonesia – AMSI). He is known for his educational and thought-provoking writings on social movements, democracy, and international relations in various media outlets. As a young political thinker and activist, he focuses on promoting democratic socialism, social justice, and Indonesia's strategic role in Asia's changing geopolitical landscape. Through AMSI, he advocates for empowering youth, strengthening grassroots economic movements, and building international solidarity across Asia.
Source:- Modern Diplomacy
