# Nickel Industry

Jakarta’s High-Stakes Balancing Act: Squeezing Chinese Capital to Fund a Japanese-Backed Defense

Indonesia is pivoting toward resource nationalism by cutting nickel quotas and raising prices, directly impacting over $14 billion in Chinese investments. Concurrently, Jakarta is deepening defense ties with Japan to modernize its military, signaling a strategic shift to balance economic reliance on China with security partnerships with Tokyo and Manila.