Short answers, pulled from the story.
Jakarta is sinking faster than any other capital city on Earth due to unregulated groundwater extraction causing northern districts to descend up to 17 centimetres annually. This geological crisis forces the Java Sea to reclaim land beneath the feet of millions while high-rise buildings and factories illegally pump groundwater to survive the tropical heat.
The original name of Jakarta was Sunda Kelapa, which served as the main harbour for the Hindu Sunda Kingdom by the 14th century. The area was first inhabited by the Buni people from 400 BC to 100 AD before Fatahillah renamed the city Jayakarta on the 2nd of May 1527 after driving the Portuguese out of the region.
The Dutch East India Company renamed Jakarta to Batavia in 1619 after burning the English trading post. The colonial city was designed with canals and mansions and earned the nickname Queen of the Orient while being built on the backs of forced labour and the systematic exclusion of Chinese and Arab immigrants.
President Joko Widodo announced plans to move the capital of Indonesia from Jakarta to Nusantara in August 2019. The move was approved by the MPR on the 18th of January 2022 to relieve pressure on Jakarta and create a more sustainable capital for the future.
The Indonesian government has pledged to spend US$40 billion to save Jakarta from sinking. This sum is greater than the cost of building Nusantara and indicates a commitment to preserving the city's legacy despite the daunting scale of the challenge.