Monday, April 21, 2014

Golden Age

Golden Age, maybe that term is not a new term for some of you especially as International Relations students. Why Golden Age? In the late 18th century there was a huge economic growth which opened the door to more wider global economy networks. Those days when trade was increasing, Britain overtaken by their new developing technologies and industries. But why they used the word “golden” when they could use “success” or anything else?. Yes, they’re not using “Golden” for no reason.

It is because they were using gold for transactions. There used to be a system that manage the use of gold called Gold Standard. Investopedia defines Gold Standard “A monetary system in which a country's government allows its currency unit to be freely converted into fixed amounts of gold and vice versa. The exchange rate under the gold standard monetary system is determined by the economic difference for an ounce of gold between two currencies.” Gold was not forever dominating because the attendance of silver threat.

Speaking of Golden Age, did Indonesia ever taste golden age? Some people say Indonesia have tasted the golden age in the early 2013. Darmin Nasution, the former governor of Bank Indonesia claiming Indonesia’s Golden Age that our economy was growing stably after sleeping for about 10 to 15 years. He added that our economic growing even more stable than India and China with 6.2% growth by the year before. That’s why according to that fact that time, Indonesia should believe that Indonesia could be the 7th largest economy in the world in 2030.

Today, the advanced technologies are not hard to find and it keeps developed as the day goes by. Making it easy for a country to communicate, to build a relationship with another country in every aspect including trading. The industry being more creative, with all this achievement and development, can we call it the world today as golden age? you guys choose


Posted by,
Salwa Ni’matul Maula (1701315806)

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