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...growth forecast for the current fiscal year to a range of 6-6.5%, citing a mediocre monsoon season and high oil prices. Last year, the economy grew 8.2%. Southeast Asia, too, will see a decline, from 5.8% growth this year to 4.4% in 2005, according to Merrill Lynch. In Indonesia, the region's most populous country, hopes are running high that new President Susilo Bambang Yudhoyono will push through tough reforms and woo back the investment needed to spur the sagging economy. But the biggest worry is the Philippines, where ballooning debt and endemic budget deficits are sparking fears that...

Author: /time Magazine | Title: An Agenda for Asia | 11/4/2004 | See Source »

...than any other country to assist the remarkable transformation of Asia. Asians are aware of this. Curiously, most Americans are not. America has accumulated vast reservoirs of goodwill in Asia. From the mayors in China to the entrepreneurs in India, from the scholars in Japan to the economists in Indonesia, from the bankers in Hong Kong to the public servants in Singapore, there is virtually an entire army of American-trained Asian minds leading Asia and making critical decisions. Most want to work in partnership with America...

Author: /time Magazine | Title: Why America Must Rediscover Asia | 11/4/2004 | See Source »

...long-term challenge. It is in America's long-term interest to foster the development of a successful and modern Islamic state that would become an alternative beacon to replace the current infatuation with Osama bin Laden. This requires a sustained and long-term engagement with the Islamic world. Indonesia provides an immediate opportunity. The peaceful and successful elections there could send powerful waves of hope into the Islamic world if they are followed by successful development. As President Susilo Bambang Yudhoyono has said, "If everything is going well, then Indonesia can be a good example, a good model...

Author: /time Magazine | Title: Why America Must Rediscover Asia | 11/4/2004 | See Source »

...INDONESIA: Meet the President...

Author: /time Magazine | Title: Complete List of Articles | 11/2/2004 | See Source »

...power vacuum, a new threat to security could arise. But there should also be a new approach to finding a peaceful solution. There is an opportunity for us to end the conflict in Aceh with a new policy. I appeal to the leaders of the separatists to reunite [with Indonesia], and to their soldiers to come out [from hiding] and disarm. That would be the end of the armed struggle, and would allow for special autonomy to be carried out. I will consult with parliament about granting amnesty to those who voluntarily surrender...

Author: /time Magazine | Title: "We Need Shock Therapy" | 11/1/2004 | See Source »

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