Word: suharto
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Dates: during 1960-1969
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However, Humphrey was greeted by thousands of Indonesians waving tiny paper American flags-a far cry from the raging mobs that burned and looted the U.S. and British embassies in years past. At a dinner in Humphrey's honor. Acting President Suharto frankly appealed for U.S. economic assistance and warned that "if the economy cannot be improved in a relatively short time" the Indonesian Communist Party might well score a comeback. Clearly, the Indonesian economy would be the key topic during the Vice President's four-day stay-as it was at a conference of world businessmen...
Unknown Treasure. Nevertheless, several Western firms that had their property taken over by the Sukarno regime see a better economic climate under Suharto and are making plans to return. Among these are Goodyear Tire & Rubber Co. and Lever Bros. Others, enticed by a four-year tax holiday and easy repatriation of profits, are showing interest. The Freeport Sulphur Co. is prospecting for copper and stands ready to invest $75 million if sufficient ore is found. ITT has signed a $6,000,000 contract to build a satellite relay station near Djakarta...
Encouraging Atmosphere. Indonesia's main problems are economic, and in that area Suharto has begun to make a major impact. He has assembled the best men available to doctor the economy and given them freedom to act. They have managed to cut inflation, for example, from 600% in 1965 to 60% this year. Suharto is particularly anxious to open the way for more private foreign investment, as well as to create a climate that will encourage other nations to grant loans. Japan's Premier Eisaku Sato, the highest ranking official visitor to Djakarta since Sukarno's downfall...
...cities and district capitals, Chinese may no longer own businesses. Chinese schools have been closed, Chinese organizations ordered disbanded and Chinese papers banned except for two run by the government. "There are too many of them," says Foreign Minister Malik, "so it is impossible to repatriate them." Instead, Suharto has set up a special bureau to deal with the problem, hopes eventually to gain the loyalty of the Chinese...
Pressured by anti-Communist rioting by students, who have attacked the Chinese in Djakarta, Suharto's government is threatening to suspend relations with China. But it has not yet made the move, and neither side really wants to go that far (Indonesia has also kept up its relations with Hanoi). Premier Sato last week urged Suharto to hang on to the present arrangement, which, even if it produces only an exchange of angry notes, at least keeps open the lines of communication...