Good morning friends. I was reading one of our newspaper here in our country and I found one article in business section. I want to share it with you. It's a good news.
Among the emerging markets that in the next twenty years will dominate the global economy are three Southeast Asian countries: Indonesia, Vietnam and the Philippines. They have been included in the famous "Next Eleven" (after the BRIC countries) because of their large internal markets and their rich natural resources. A recent article in Newsweek by George Wehrfritz (October 11, 2008) entitled "Indonesia As the New India," should serve a food for thought for our leaders, both in the public and private sectors.
According to Mr. Wehrfritz, Indonesia’s economy is so buoyant that it can be compared to another Asian giant: India: "Both remain corrupt, chaotic and excruciatingly complex. Yet each is also an attractive emerging economy and in India’s case a star of the developing world. Could Indonesia be next? Its economy grew by 6.3 percent last year, the main stock exchange ranks among the world’s best performers since 2003 and last year foreign direct investment nearly tripled, to a respectable billion. All of which resembles India in the 1990s, when reforms kick-started a potentially massive economy – though outsiders barely noticed until the IT sector took off and growth passed 8 percent. In Indonesia, the key sectors are energy, mining and soft commodities like rubber, palm oil and cocoa. And in an exclusive interview, President Susilo Bambang Yudhoyono says he sees no inherent reason why a big democracy like his can’t grow as fast as China, which has posted 10 percent growth rates in recent years."
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