A Brief History Of Country Since 1949

2324 WordsNov 24, 201410 Pages
Report - Indonesia A brief history of that country since 1949: Indonesia was acknowledged to be an independent country from Netherlands in 1949, and has experienced sharp downturns as well as booms within their business cycle. In the 1960 's Indonesia 's economy rapidly declined due to political instability, the government was too inexperienced to understand and maintain a stable economy, thus resulting in a major economic recession where inflation was at 1000% , there was minimal foreign investment and domestic factories were working at minimum capacity. Albeit after President Sukarno 's dismissal, The New Order Administration regained economic stability which lead to a swift decrease in inflation as well as a rise in foreign investment…show more content…
After the Asian Financial Crisis Indonesia continued its rapid economic growth, averaging 5.5% growth each year and consequently has significantly reduced poverty and unemployment. From 2006 to 2007 Indonesia 's population living in poverty declined from 17.8% to 16.6% and in 2012 the unemployment rate within Indonesia diminished to an all time low of 6%. Consequently Indonesia can be classified as an emerging economy. An emerging economy refers to countries that are in the process of industrialisation and are experiencing sustained high levels of economic growth. A contemporary discussion of your selected country: Indonesia is the largest economy in the Southeast Asian economic region, which has been strongly influenced by globalisation over recent decades through increased international trade, foreign investment and rapid industrialisation. Globalisation refers to the integration between different countries and economies and the increased impact of international influences on all aspect of life and economic activity. Indonesia has a mixed economy where both the private and government sector play significant roles in the country 's economy, which enables the country to be highly influenced by free market forces, while ultimately protecting the economy from
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