Word: indonesians
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Dates: during 1970-1979
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...team-which began working for Suharto in mid-1968-has helped the Indonesian government in its negotiations with foreign investors. "They badly needed jobs, they badly needed revenues, so they made some deals that were highly favorable to the foreign investors," Papanek said last month. He added that the DAS has also counseled the government against lopsided bargains with foreign firms...
Papanek said in defense of present Indonesian policy that reversal of Sukarno's extravagant monument-building program-in combination with a resumption of large-scale American aid-has brought about significant economic improvement...
...Indonesian episode poses largely the same questions. According to Gustav F. Papanek, who served for six years as DAS director, the Indonesian government is "one of the most self-assured and independent governments-in the economic sphere-that I know of. They'll use foreigners for advice on technical problems, but there's no question who runs the show...
...analogy with Ayub is staggering. In the words of Richard Gilbert, who also served as field director in Indonesia, "an army which was originally a guerilla army, an army of independence, has been converted and now behaves like an army of occupation." The hope of the Indonesian people for a better life after the overthrow of Sukaron's abusive political and economic policies has met with mass murders, political concentration camps, and massive American "aid" and investment. And where does the DAS stand among all this...
...surprising change in the leadership of the recovery. In June and July, the rally was led by established blue chips. But lately the market has shown renewed symptoms of speculative fever. As a result, the list of the biggest percentage gainers since May is dominated by the names of Indonesian and Canadian oil producers, mobile-home builders and unclassifiable "special situation" issues (see box). To some Wall Streeters, this development suggests nothing so much as a case of mass amnesia among individual and institutional investors who, they fear, have forgotten that speculative issues took the worst beating during the December...