Jakarta, Nov. 1 -- President Prabowo Subianto emphasised that "greed economy" can harm economic development and progress, and APEC economies are encouraged to join hands to combat it.

Prabowo said that the world is facing threats of the greed economy, which is manifested in criminal acts such as corruption and fraud, as well as cross-border crimes such as drug smuggling and human trafficking.

"Indonesia is fighting against corruption, fraud, and the greed economy that hamper true development," Prabowo stated before the APEC Economic Leaders' Meeting (AELM) in Gyeongju, South Korea, on Friday (October 31) local time.

According to an official statement on Saturday, the president called all nations to unite in the commitment to combat the...