Word: indonesia
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Dates: during 1980-1989
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...Pacific region is not without problems. Several less-developed nations, including Indonesia, Malaysia, Thailand and the Philippines, have been hurt by a slump in the prices they receive for exports of raw materials such as sugar, copper, tin and oil. Observed Board Member Narongchai Akrasanee, a senior vice president of Thailand's Industrial Finance Corp.: "Commodity prices are really miserable." Even so, Indonesia, Malaysia and Thailand have managed to maintain respectable growth rates of 4% or more. The only serious trouble spot is the Philippines, where economic mismanagement by the regime of President Ferdinand Marcos and continuing political unrest...
...expressed concern that the U.S. budget deficit, which will be at least $167 billion in 1985, might eventually drive up American interest rates and cause a recession. Narongchai noted that the combined gross national product of the Association (of South East Asian Nations (ASEAN), which includes Singapore, the Philippines, Indonesia, Malaysia, Thailand and Brunei, is only $200 billion. Said he: "All we produce in a year would barely be enough to pay for the misbehavior of the U.S. Government...
Unlike the Philippines, Indonesia has enjoyed political calm, for the most part, during the 18-year tenure of President Suharto. But the archipelago faces economic challenges. Falling oil prices have cut Indonesia's earnings from its chief export, and the country's current account deficit will be about $4.2 billion this year. On the bright side, agricultural production is strong. Narongchai predicted that Indonesia will achieve 4.5% growth...
...deeply indebted oil-producing countries, including Venezuela, Indonesia and Ecuador, a decline in prices would be painful. In Mexico, which depends on petroleum sales for 70% of its exports, a $2-per-bbl. price cut would produce a $ 1.1 billion drop in an annual oil income of $15 billion. Thus Mexican officials accompanied Yamani on his travels last week even though their country is not an OPEC member. Yamani announced that both Mexico and Egypt said they would cut their own output in support of OPEC's plan...
...Among the Believers (1981), his most recent book of nonfiction, V.S. Naipaul displayed a few early symptoms of self-parody. The Muslim fundamentalists he met on his travels through Iran, Pakistan, Indonesia and Malaysia sorely tried his patience. They did not seem impressed by his example of success: an Indian born and raised in Trinidad, then a British colony, who had won a scholarship to Oxford and afterward, as an admirable writer, earned much favor in Western eyes. All that those mullahs and ayatullahs seemed to want was to make trouble and pray. Naipaul's report on this journey...