Indonesia: A Rising Giant
With the fourth largest population and growing economic clout, Indonesia as a nation is increasingly confident and assured about its place in the world. After a hard won election in 2014, expectations for new President Joko Widodo are high. However, he will have to deal with substantial challenges as he seeks to improve the welfare of the Indonesian citizenry and deal with bottlenecks that restrain higher growth. The approach that Joko Widodo takes towards the challenges he faces will determine the success of the ASEAN Economic Community ("AEC").
Moving From Commodities to Consumer Spending
A country blessed with rich volcanic soil, Indonesia has its abundance of natural resources — cash crops, such as crude palm oil, rubber and coffee, and mineral resources, such as coal and natural gas & to credit for much of its economic growth since independence. Coveted spices that grew in the Maluku islands in Eastern Indonesia drew traders to the archipelago in the 16th century and commodity-driven trade has been a mainstay of the Indonesian economy ever since.