Prospects for the New Capital City Policy in Law and Economic Perspectives

The relocation of the nation's capital city has been a dream for a long time, but it was only realized after 77 years of Indonesia's independence through Law No. 3 of 2022 concerning the State Capital (IKN Law). Nevertheless, the policy needs to be studied, considering that the current capital relocation will be carried out in the midst of various domestic polemics, as well as global issues such as inflation and the weakening of global economy after COVID-19, as well as the war between Russia and Ukraine. This study uses a socio-legal research method by combining an interdisciplinary approach between normative studies and economic studies through an analysis of opportunities, threats, strengths, and weaknesses (SWOT). The findings reveal that, from a law perspective, the policy of the new capital city in the IKN Law is an obligation that must be carried out by the government, regardless of who will serve in the future. However, there are several notes to the IKN Law that are not yet in line with the principles of legislation. Meanwhile, from an economic perspective, the IKN policy is indeed based on the ideals of economic equity and sustainability, but financial factors, foreign debt, and global inflation are still a serious threat to the sustainability of the current New capital city policy and for the next few years.

| 87 form of government based on the valid Indonesian Constitution, namely the 1945 Constitution of the Republic of Indonesia.
The journey of the Indonesian nation, which was officially independent in 1945, was certainly colored by various problems and polemics. Starting from the problem of the Asian economic crisis that also plagued Indonesia in 1996-1998, the socio-economic problems which are claimed to have not found a bright spot on development over the last 70 years, racial issues between ethnicities and religions socially; until the latest issue that has become a hot topic of discussion is the issue of relocating the nation's capital. (Usman et al., 2020) (Utama et al., 2017) Jakarta is the capital of the state of Indonesia, in the long journey of the Indonesian state from the time of the kingdom until it officially became one of the democracies, Jakarta in the past was the center of government of the Dutch East Indies in the colonial era. Even today, Jakarta as the nation's capital is not only the center of government, but also as the center of the economy. It is noted that between 70-75% of money circulation is centered in the capital city of Jakarta. (Fernandes & Fresly, 2017) (Hidajat, 2020) This logically also answers Indonesia's main problem, namely the distribution of development which for 70 years is still a work that seems to have never been completed. Due to the enormous circulation of money at one point in a country with an area of 1.9 million km2, Jakarta has evolved into a magnet that moves people from all over Indonesia with one belief, namely improving the quality of life.
The migration of people from different ethnicities, religions, cultures and social levels to Jakarta has made Jakarta the city with the highest population density in Indonesia. (Isra & Tegnan, 2021) In fact, it is the second most populous city in the world with a population of 35,363,000 after Tokyo as the first with a population of 39,105,000. However, when compared with the area; Jakarta (661.5 km²) while Tokyo (2,194 km²) of course it can be concluded that with a very large population and occupying an area that is 1/3 of the area of Tokyo, it can be concluded that the Jakarta area is really unhealthy and has a systemic impact from various factors. sector (e.g., competition, job opportunities, environment, health, health-issue, law, etc) (Fernandes & Fresly, 2017) (Lele, 2019) (Mihardja et al., 2014) (Schütte, 2012) On the other hand, the location of the city of Jakarta, which tends to be located more to the west of the Indonesian part, is accused of causing high disparities between regions on a national scale. These various reasons and speculations later became the fundamental basis for the discourse to move the capital city in a mega project. (Shimamura & Mizunoya, 2020) The relocation of the capital city is considered a solution that has a strategic impact to improve and revitalize the life of the nation. Hope from the Government of Indonesia who also wants the concept of development in the newly adopted IKN is expected to be a role model for regional development governance in Indonesia in the future. (Shimamura & Mizunoya, 2020) (Azmy, 2021).
However, the IKN transfer plan is important to be criticized in order to improve the quality of policies that accommodate the rights of the affected people and the public interest. However, Prospects for the New Capital… the discourse of moving the city to date has not gone smoothly. Various reviews of the pros and cons adorn the idea of moving the capital by the Indonesian President Joko Widodo. In this research, the focus of the study includes: first, the normative analysis of the new state capital policy as stated in the IKN Law; second, how is the socio-economic analysis of the policy of the new capital city in the analysis of opportunities, threats, strengths, and weaknesses (SWOT)?
Thus, this research uses an interdisciplinary approach that is not limited to the legal aspect but also socio-economically to produce a more comprehensive description (Kodir et al., 2021) ( Kurniawan et al., 2021)

The Long History of Indonesia's Capital Relocation Plan
The issue of the planned relocation of the Indonesian capital is not a new discourse, even the discourse on the relocation of the capital has been echoed since the Dutch colonial era.
Furthermore, the discourse of moving the capital city from Jakarta to Bandung and implemented by the Dutch East Indies government, namely General JP Graaf Van Limburg Stirum in 1906 even though it lacked the support of the Volksraad. (Van der Veur, 1968) The idea of moving the capital city in the Dutch colonial era in Indonesia stems from the results of HF Tillema's study on the health of cities on the island of Java. (Coté, 2002) Even emphasized by HF Tillema, Batavia (the name of Jakarta in the colonial period) was called not meeting the requirements as the center of the Dutch East Indies government, so Bandung was then chosen to replace Batavia's position as the new capital of the Dutch East Indies at that time. The idea of moving the capital of the Dutch East Indies then received support from J. Klopper (chancellor Magnificus Bandoengsche Technisce Hoogeschool) and implemented in 1920. (Wertheim, 1959) Since then, government and private offices have been relocated, such as the Mining and Energy Office (1924), the Geologisch Laboratory building (1928), the pension building (1940), Perum BIO Farma (1923), the post office (1928) and the railway head office. fire (1928). However, along the way, several government office buildings did not have time to be built because the Dutch government experienced a recession and caused the failure of the project over the discourse of moving the capital from all of Batavia to Bandung City. Besides Bandung, of course, Palangkaraya City has also been asked to be the destination city for the relocation of the capital; by President Soekarno (the first President of the Republic of Indonesia) declared Palangkaraya City as the new location for moving the capital from Jakarta in 1957. (Gedacht, 2021) (Van der Veur, 1968 The city of Palangkaraya was chosen as the destination for the relocation of the capital because it is considered geographically, this city is right in the middle of the territory of the Indonesian state.
However, after Soekarno's presidential decree in 1959, the idea and discourse of relocating Indonesia's capital city seemed abandoned; President Soekarno refocused his attention on development in Jakarta, which he wanted to make as a symbol of Indonesia's rise as a Third World leader. Not only until the Soekarno government, the discourse on moving the capital also | 89 continued to roll in the era of the second president of the republic of Indonesia, namely Suharto.
Entering the new order era, the transfer of the capital came to the surface, where the idea was the same as what was aspired in the Dutch colonial era, namely moving the state capital Jakarta to Jonggol in West Java through Presidential Decree Number 1 year 1997 concerning the coordination of the development of the Jonggol area as an independent city (Jonggol and Bandung are both in the province of West Java). (Kodir et al., 2021) As a result, the presidential decree implemented Jonggol's development plan covering an area of 30,000 hectares as an Independent City. However, in line with the economic crisis that hit Asia and Indonesia, the plan to relocate the nation's capital to Jonggol did not continue with the fall of the Soeharto era, which had been in power for more than 30 years in Indonesia.
The plan for moving the capital city seemed to have never been realized after almost a decade of Indonesia's independence, this statement was reinforced by the next idea launched by President Susilo Bambang Yudhoyono in 2010 who formed a small team tasked with reviewing the idea of moving the state capital to Palangkaraya City as intended. by the Founding Father of the Indonesian Nation, Soekarno. Along with what was echoed by President Susilo Bambang Yudhoyono in early September 2010, the small team he formed provided three scenarios for the idea as a form of recommendation from the results of their study. The first recommendation is to maintain Jakarta as the nation's capital and make improvements to all existing problems. The second recommendation is to move the government center from Jakarta to a new location but still on the island of Java, and the third recommendation is to move the state capital and government center to a new location outside Java. But unfortunately, the plan to move the capital city of Indonesia back to its original condition, which is only a plan and has not been followed up further.
In 2022, this issue strengthened again on the surface, the 7th President of the republic of Indonesia, Joko Widodo again breathed the issue of relocating the country's capital on January 18, 2022 with the ratification of a draft law (RUU) on the state capital (IKN) by the House of Representatives. People (DPR) of the Republic of Indonesia and the government. However, there is also a strong negative proposition that it is suspected that this issue will simply evaporate again just like his predecessor president, considering that the plan to move the country's capital initiated by Joko Widodo is also approaching the end of his reign in 2024.

METHOD
In principle, this study is legal research, but the study conducted is not only normative as in doctrinal legal research (normative legal research). Specifically, this legal research uses a socio-legal research approach, which is an approach in the study of legal science that utilizes an interdisciplinary approach to a legal problem (Wiratraman, 2015). Interdisciplinary legal research combines normative legal studies that are sui generis with theories from other disciplines.
However, this approach must still seek coherence between the various methods and theories Prospects for the New Capital… used (Simarmata, 2011). Based on this paradigm, the analysis of the new IKN Policy is not only studied with a statutory approach based on doctrine and legal principles, but also from a socioeconomic approach in the butterfly effect perspective and strategy analysis on strengths, weaknesses, threats, and opportunities (SWOT). The data came from primary legal materials such as legislation, secondary legal materials such as journal literature, and statistical data. The results of the analysis are presented qualitatively and quantitatively as descriptive.

Law
The discourse on relocating the country's capital to Kalimantan Island had received permission from the House of Representatives of the Republic of Indonesia to President Joko Widodo in mid-2019. However, the discourse was suddenly stopped due to policies that forced the government to refocus the budget and policies to deal with the COVID-19 pandemic. So that from the beginning of 2020 to the end of 2021, the plan to relocate the national capital does not seem to be discussed again; The discourse was re-breathed after the COVID-19 pandemic was allegedly decreased in the final quarter of 2021, (Haryanti, 2022) as a result this new policy then gave rise to various attitudes and opinions that were pro and contra in the midst of society. For the government, there are several lofty goals for the relocation of the Indonesian state capital. (Al Fikry, 2022) First, as a solution for equitable development in Indonesia, which for almost a decade has not been running optimally. Demands for equitable distribution of development that are considered unfair, such as the concentration of development on the island of Java, which is close to government access, as well as the dominant economic cycle in the western part of Indonesia, have made the condition of most people consider that the pattern of development during Indonesia's independence was still Java-centric. (Elisabeth, 2021) So that the implementation of IKN is logically considered to be able to provide opportunities for equitable development.

IKN Location Plan
National Capital

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Logically, the assumption that is often made to the government about being Java-centric is difficult to dispel given the position of the state capital which is indeed more inclined to the western part of Indonesia. Thus, the IKN relocation plan chooses the Indonesian region right in the middle, as a long-term solution to overcome the problems of equitable development.
Second, the IKN solution means reducing the burden of problems that exist on the island of Java, especially the over-populated city of Jakarta. Quoting from the United Nations General Assembly (UNGA) which reviews the level of population density due to urbanization around the world, we also tried to review and modify the data to see a comparison between the level of population density and the area of the city so that it can be a more comprehensive comparison.
The data we present in table 1 are data that we limit based on population levels above 10 million residents per city. In table 2, it can be seen that the ratio of population to area, Osaka, Bueonos Aires, Manila, Paris, Dhaka and Jakarta has a fairly high or even very high population which occupies an area of less than 1,000 km2. Or it can be compared, for example, between the cities of Jakarta and Bangkok, which are both regions of Southeast Asia, then Jakarta when compared per 1km 2 of its area is occupied by about 1,077 people / 0.6 km2 compared to the City of Bangkok. The comparison is 1,053 / 1.5 km². This significant difference between the two regions in Southeast Asia has prompted the Indonesian government to launch a program to relocate the country's capital.
It doesn't stop there, overpopulation then has a real impact on increasing the crime ratio. (Light & Miller, 2018) Jakarta as the capital city of Indonesia is also listed as one of the most dangerous cities with the highest index in the Southeast Asian region. The Jakarta City crime index reached 53.42, while the security level score was 46.58. When compared between cities in Indonesia with the number of criminal cases, Jakarta is sovereign as the city with the highest number of criminal cases (See Table 2). (Analytica, 2022) The massive magnetism of urbanization in addition to causing problems that have a global impact such as air pollution where the Air Quality Index (AQI) data, on (17/6/2022) stated that Jakarta's air quality is the second worst in the world with a score of 166 where the pollution is the second worst in the world. caused by transportation is the number one trigger for the biggest pollution contributor in the city of Jakarta besides industry (See Table 3). (Alam & Nurhidayah, 2017) These things then strengthened the government to relocate the capital. Third, the purpose of relocating the capital city of Indonesia is to realize a safe, modern, sustainable and resilient IKN. The construction pattern of the policy of relocating the nation's capital from Jakarta to the province of East Kalimantan provides a new spirit for Indonesia to create a city with a government structure that is much more organized than the current condition in Jakarta. The planning carried out by the Ministry of Agrarian Affairs, Spatial Planning and the National Land Agency of the Republic of Indonesia has designed the condition of the IKN which is divided into six regions that are integrated with each other and have their respective functions.
The first area is the center of government which is the core area with an area of 6,671 hectares containing the center of national government and security, housing and settlements. In the western region of IKN with an area of 17,206 hectares which will become the center of economy and business, nature tourism, health services, higher education services, as well as defense and security. The eastern region of IKN with an area of 9,761 hectares which will later become a center for entertainment, tourism, trade and services, higher education services, as well as defense and security. The eastern IKN development area will also become a center for higher education, research and innovation center, trade and services, offices, and health services which will be developed in an area of 3,720 hectares. Furthermore, South IKN which has an area of 6,753 ha will be focused on new and renewable energy, rural settlements, defense and security.
Having the largest area of 12,067 ha, the North IKN WP will become a research and innovation center, higher education services, office centers, and tourism. It is explained in detail in the third part of Article 6 of the IKN Law No. 3/2022 which discusses the coverage area. It is explained that the Nusantara IKN covers land and sea areas. sea area of approximately 68,189 hectares.
Meanwhile, the construction of the Nusantara IKN development area covers an area of 199,962 hectares. Occupying a large area of 68:199 which is surrounded by forest, it will trigger and answer the ideals of the republic of Indonesia and the world as a country that has the concept of a green city and green sustainability country. The hope to realize the relocation of the capital city of the Republic of Indonesia (IKN) in order to create a new civilization is considered a representation of the nation's progress with the concept of a modern, smart, and green city.

B. National Capital City Law in the Study of Legal Principles
In theoretical and empirical studies, the process of moving the capital city of Indonesia is based on the noble desire to create an optimal national and state life through equitable development in all sectors. The attractiveness of the nation's capital as a forum to improve life and social strata is the biggest trigger for increasing urbanization rates in big cities, one of which is Jakarta. The increasing population then turns into Overpopulation, as a result, people experience a shortage of land to live in. On the other hand, overpopulation which is in line with the need for space and land which is also significant will have a systemic impact on health and crime rates in the city of Jakarta. The condition of the cities on the island of Java, especially the area of West Java, has made the island of Java an area which has grown in agglomeration since the capital city began with Batavia, until now 77 years of Indonesia's independence. This statement is in line with the results of a public policy study by with a quantitative approach to fixed effect panel data regression with the Jakarta city administration database in 2008 -2013 revealing Volume 5, Issue 1, June 2022: 86 -108 Prospects for the New Capital… | 95 that agglomeration of production in the area around the capital Jakarta has a positive and significant effect on economic growth. (Mauleny, 2015) But unfortunately, the positive effect is not in line (negative impact) on the poverty level and the human development index (IPM). Likewise, (Mauleny, 2015) adds that population agglomeration also has a significant effect on economic growth, but the significant impact on population agglomeration does not have a significant impact on poverty levels and HDI. Social disparities due to these agglomerations; bring a systemic impact on the aspect of the level of knowledge, which is in line with public health behavior in the city of Jakarta. in his study examined the relationship between different levels of knowledge, health behavior in the city of Jakarta by examining as many as 72 respondents quantitatively found the fact that there was a significant relationship between the level of knowledge on health behavior (p-value = 0.033 < 0.05). Still in terms of health and the environment, (Syarifa, 2019) revealed that DKI Jakarta, which has 13 major rivers, was declared to be in the heavily polluted category with a percentage value of 61%. Thus, in particular the local government of the city of Jakarta has However, problems and polemics that can appear on the surface are Even though it seems good and positive, the law is presented partially without publication and socialization of the master plan for the capital city of the archipelago as described in Article 7 paragraph 2. In this regard, IKN Law seems premature and ambitious by presenting the publication of regulations and all forms of supporting documents that are not comprehensive as the main study material for this law. Starting from article 1 to article 44, is dominantly identical in aspects of government administration, procedures, Prospects for the New Capital… and mechanisms for implementing the process of relocating the state capital rather than explaining in detail the paradox effect and solving problems related to the relocation of the state capital. Apart from that, the purpose of the IKN transfer still needs to be studied more deeply, namely whether the purpose of moving the IKN is to move the state capital, guarantee the legitimacy of the status of the state capital, or regulate both. This is certainly a positive input as well as an evaluation of the formation of this law because in substance it seems not to be in sync and focuses on efforts to move the state capital only, even though ideally a law needs to regulate many aspects that are more specific and comprehensive. Another problem is related to the formation of an authority body as a form of government in the new national capital, which has the potential to overlap with the regional government system. The format of this authority is considered to still have a number of ambiguities because it is not well known in the constitution as well as in laws and regulations other than the IKN Law. On the other hand, there is no detailed explanation and regulation regarding the government's decision to establish a new form of government administration in the form of an authority body. What is its position? Is it equivalent to a ministry, provincial or district/city government? What is its relationship vertically with central government organs and horizontally with other regional government organs? This leaves unclear objectives in establishing an authority body in the IKN Law.
2. Based on the priciple of executable/can be implemented IKN law must be formed by taking into account its effectiveness or working power in the community, both philosophically, sociologically, and juridically. As described in the purpose of transferring IKN, this philosophical aspect presents a policy orientation for equitable development and economic justice for people outside Java, including creating world-class role models for regional development. In fact, it seems paradoxical to link this statement with the concept of local government, considering that the current national development paradigm prioritizes the development of villages, border areas, and suburbs. Thus, it is clear that the idea of transferring IKN is a tactic to show the failure of regional autonomy practices that have been carried out so far. However, the question that arises is, can the government really realize this noble goal? Or will it be mere rhetoric? In this case, the IKN recollation policy has been stated in the IKN Law and thus is binding and coercive for the next government regime. There is a demand for whoever the government is to complete the work on the new IKN. In fact, this policy requires a large amount of financing, which will become a burden on the State Revenue and Expenditure Budget (APBN). Although it can be financed by foreign investment, how far is it able to support the completion of IKN? If investment is clearly profit-oriented, then how many investors are willing to invest in IKN development, which takes a long | 97 time and costs a tremendous amount of money? In this case, the investment calculation becomes less realistic, so it is predicted that in the future, IKN funding will always burden the state budget in the next government period. IKN development has the potential to become a project that stops midway when a crisis or emergency occurs, which requires refocusing the state budget. This is due to legal policies that have not gone through careful planning so that they are not implemented.

Based on the principle of Beneficiary
This principle emphasizes that a statutory regulation is made because it is really needed and useful in regulating the life of society, nation, or state. Even though, philosophically, what is contained in Law No. 3/2022 contains positive things to build an advanced Indonesia in the future. However, the process of making and enacting this law, which was too short (42 days), later resulted in a lot of criticism and lawsuits. So it is very reasonable if the matter of judicial review in Law No. 3/2022 becomes questionable. For example, the IKN law is considered not to provide protection to citizens, especially those who are affected, such as local communities, especially indigenous people. Since the determination of its name, IKN has sparked controversy in the community. So far, the term "Nusantara" refers to the entire territory of Indonesia. Although it is claimed that "Nusantara" is a representative form of Indonesia, here the author argues that this claim is philosophically ambiguous and underestimates the meaning of the archipelago, which is understood as a national territorial unit. So far, compared to the name of the capital city of Jakarta, there is no conflict of philosophical representation, either with regional aspects (local wisdom) or with the understanding of the archipelago itself. Character names have different philosophies. Furthermore, from a sociological perspective, the transfer of IKN mandated in the IKN Law does not show any significant benefit to the community, especially in IKN candidate areas. On the other hand, many parties consider that the IKN policy could have a negative impact on the community. The

Based On the principle of openness and participatory
The The principle of transparency requires that the formation of the IKN law begin with planning, preparation, discussion, approval, or determination and be announced transparently to the public, providing broad opportunities for all levels of society to provide input and direct participation. In general, this principle is the key to determining the legitimacy of a legal product. In fact, since the beginning of its publication, the IKN Law has drawn a lot of controversy because it was formed in a very short time, in just 42 days. Logically, the process of law formation from the planning stage to the discussion was colored by long debates that took a long time, involving many elements of the community. This means the formation of a law usually takes a relatively long time, Thus, what has been done by the government in principle has not fulfilled the principles of openness and participatory principles.

C. Moving the National Capital from an Economic and Social Impact Perspective:
Opportunities, Threats, Strengths, and Weaknesses.
The long plan of relocating the capital which has never been successful since the Dutch colonial era, is assumed to have an effect on why the formation of Law 3/2022 seems ambitious and very concise in terms of time. The positive side of the enactment of Law no. 3/2022 concerning IKN is that it aims to move the capital later in the next government to be a priority, because it has been mandated by law. But on the other hand, of course, in the next government, the issue of moving the country's capital will be a new and burdensome additional work for the government regime in the future; polemic indeed, but when we return to the issue of the urgency of the importance of moving the capital as previously described in this manuscript. The Indonesian people have no other choice. Indonesia is certainly not the only country that wants to move its | 99 capital, previously according to historical records there were seven countries that had moved their capitals. First, Nigeria moved its capital from Lagos to Abuja City in 1991 on the grounds of overcrowding in Lagos. (Nwafor, 1980) Second, Brazil is listed as a country with a long history of relocating its capital, namely between 1549 -1763; but right in 1960, the Brazilian government decided to move the country's capital again from Rio De Jeneiro to Brasilia for reasons of population density. (Mubaroq & Solikin, 2019) Third, Myanmar moved the capital from Yangon to Naypdaw in 2005 on the basis of predictions of foreign attacks from the sea. (Seekins, 2009) Third, Myanmar moved the capital from Yangon to Naypdaw in 2005 on the basis of predictions of foreign attacks from the sea (Seekins, 2009). Fourth, Turkey moved its capital from Istanbul to Ankara in 1923 based on the control of British, French and Russian troops in Istanbul (Bilsel, 2007) . Fifth, Malaysia moved the nation's capital from Kuala Lumpur to Putrajaya in 1995Putrajaya in -1999 The reason for relocating the capital city is due to the increasingly congested city of Kuala Lumpur.
Sixth, Kazakhsan moved the capital from Almaty to Astana in 1997 also for reasons of population density. (Mubaroq & Solikin, 2019) The hope to spread the benefits of development economically can be interpreted as the basis for the movement to relocate the national capital, of course, apart from the systemic effects produced by the population density in the capital city of Jakarta, this is the main confirmation that it will become a long-term ambitious project. Moreover, the aspiration to realize an Advanced Indonesia in 2045, which is supported by Indonesia-centric development that supports the creation of inclusive growth and at the same time sends a message to the world that IKN is not only physically moving the capital but also a new locomotive for Indonesia's transformation based on innovation and development. technology-based and green economy. Through the launch of a smart-transportation system which is claimed to be based on the integration of the development of public transportation, bicycles and pedestrians with the implementation of an integrated information system, intelligent transport system and innovative public transportation network, the capital city of Indonesia is expected to become the capital of a pilot country in the world. However, it needs to be examined more deeply, that the policy of moving the capital of the country primarily by looking at the current conditions in Indonesia is certainly not an easy thing; for example, if the study of capital relocation is viewed from the perspective of economic governance capacity which is very expensive (See. Fig 2). From CNN Indonesia, it is stated that the government currently sets a new capital development budget (IKN) of around IDR 466 trillion until the next 2045; of this total, the state budget will cover 19% or around IDR 88.54 -IDR 92.34 trillion. In addition to the expected absorption from the APBN, the development and process of moving the State Capital  However, important attention is of course aimed at the prospect of IKN development which must be faced with the condition of state revenues and state expenditures. Where the portion of the state debt experienced a very significant development from year to year. This fear is the basis why the process of moving the capital is considered an ambitious project that can threaten economic stability. (Reinsberg et al., 2020) (Pinelli, 2018) Especially considering the Presidential Regulation no. 85 of 2021 is more burdensome for the state budget because the percentage of IKN projects involves 19% of APBN funds, which is the same as the percentage of education, health and social funds so far. For more details, the statistical position of Indonesia's foreign debt can be seen in table 4. America; but also in the Southeast Asian region as a country that depends on the global economy.
This will be a threat to IKN itself caused by global inflation (See. Figure 3). In the country cluster, Indonesia will have an inflation rate of 6.02% in 2022 (see Figure   4). If we look at Figure 4. The Southeast Asian region has a fairly significant inflation rate; This inflation has had a real impact on society to date. This needs extra attention for the government Prospects for the New Capital… in preparing strategic steps to obtain funds for IKN development in the future. Because the impact of inflation will certainly change the posture of the APBN in the future; Inflation will also provide a very logical form of resistance by the community if the IKN project is not carefully launched.

Paradoxial Cases: Butterfly Effect IKN
It is a big challenge for the Indonesian people to realize a just and equitable government referring to the mandate of the 1945 law. The challenge to realize IKN is very large in the current and future economic aspects. The butterfly effect that will be presented will place the current government until the year 2045 as an actor who can be remembered for suffering the conditions of the people. Therefore, it is necessary to understand that behind every opportunity there will certainly be a threat. Thus, this study provides a common thread from consideration of various sides, what the government should pay attention to in the future. After we describe the study of this study, the final part of this study finally presents a comprehensive overview of strategic analysis regarding NCI as presented in table 5.

CONCLUSION
The process of moving the capital city has become an ideal that has been proclaimed since the Dutch colonial era before Indonesia's independence with various logical and scientific considerations. Then these ideals developed into a vision and mission to realize a golden Indonesia in 2045 as the capital of a world model country that prioritizes aspects, equity, balance, modernity, and fairness in all aspects. Although it has become a mandate that has been stated in law no. 3/2022, which must be carried out by any Indonesian government in the future, but this attention is certainly inseparable from efforts so that all parties can enjoy the process of moving the country's capital without injuring the interests of any of the groups or parties affected by this policy. Financial factors, foreign debt and global inflation are a serious threat to IKN today and are predicted for the next few years. One of the short-term effects is inflation, which will make various prices for basic needs and so on which will become a burden for the Indonesian people outside the island of Kalimantan as actors whose regions are mandated as the capital of the country. Along with this threat, the government should also think about it, especially how to create a conducive economic environment, and anticipate national economic conditions in the midst of economic recovery after COVID-19 and global inflation. The government of course must be able to convince various elements of society, both private and foreign investors that the relocation of the capital (IKN) can provide fresh air for all elements involved in it. Finally, this study hopes that the relocation of the national capital can be continued; Even though the short-term effects of this project are certain to happen, the spirit and long-term optimism to create a golden Indonesia for the next generation of this nation is a consideration, especially for us as writers so that these ideals can be realized.