Word: sukarno
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Dates: during 1960-1969
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...single-spaced type, and covers the key intelligence "get" of the day. At times, it may have included such fascinating data as the results of a urinalysis pinched from a Vienna hospital while a major world leader was a patient, or the latest bedroom exploits of Indonesia's Sukarno or U-2 photographs taken over China...
While the world's press reported a flurry of actions aimed at toppling him from power, Indonesia's President Sukarno held court last week in Merdeka Palace like a man who had hardly a worry in the world. Perched on an overstuffed settee and flanked by petite girl reporters, he discoursed for three straight hours before a group of correspondents, including TIME'S Frank McCulloch, the only American present. Posturing, mugging and frequently guffawing, he waxed alternately boastful and coy, intense and nostalgic, recalling at one point his 1956 trip "to that strange land, the United States...
There would be economic sense in further Asian groupings. A revival of Sukarno's Maphilindo (Malaysia, the Philippines, Indonesia), which fell apart because of his own anti-Malaysia campaign, would furnish markets for Indonesia's untapped riches. If some military and political stability can ever be achieved, a logical common market would be the Southeast Asia peninsula, including Burma, with its interlaced river network providing needed transportation. And, except for Japanese-Korean animosity, Japan could reduce its production costs by farming out some industries to South Korea, where people need the jobs, and aim for Taiwan...
...Wrongs. All this came in response to the fact that with Sukarno fading fast, the triumvirate that replaced him seems determined to rebuild Indonesia's commercial bridges. Many old wrongs remain to be righted before the new dreams can begin. When Sukarno in 1964 began forcing foreign firms into a plan called "production sharing"-a euphemism for expropriation-the U.S. investment alone in Indonesia amounted to more than $520 million. Only two oil companies, Caltex (owned by Texaco and Standard Oil of California) and Stanvac (owned by Jersey Standard and Mobil), managed to keep operating. Other companies lost longtime...
...Sultan and Indonesia's new boss Suharto have plenty of other economic problems. Inflation is rampant, and Sukarno, who scorned foreign aid, left the country with massive international debts. Suharto's "New Order," though, is beginning to make some order out of the mess, with advice from the International Monetary Fund and the World Bank. A moratorium has been arranged on debt repayments, a total of $230 million in aid has been arranged from nations in both the East and West blocs, and Suharto hopes to achieve a balanced national budget of $813 million this year. Most significantly...