Whither the economy?<\/p>\n
As early as some two decades ago, when the government began to
\npush Indonesia's annual economic growth figure to around 7
\npercent by borrowing as much money from abroad as it possibly
\ncould, many observers warned the authorities that they should not
\nbe so quick to ask for foreign loans without considering the
\npossible consequences. Now, Indonesia and all of Southeast Asia
\nare substantial pieces of the system of global capitalism.<\/p>\n
We have seen with our own eyes how (the International Monetary
\nFund and the World Bank) have pumped billions of US dollars into
\nthe Indonesian economy while at the same time ordering the
\nclosure of banks considered to be no longer functioning. Modern
\ncapitalism must preserve its life by amputating its limbs --
\nnamely those banks which have died and therefore can no longer
\ncirculate blood to sustain the system. There is a good
\npossibility that, if the economic crisis continues, more banks
\nwill be closed, not only in Indonesia, but also in Thailand,
\nSouth Korea, Russia, Japan and other countries we may not even be
\nthinking of at the moment.<\/p>\n
Many bright and capable economists have been watching
\nIndonesia's dinosaur of an economic system break down, but none
\nhave dared to speak out because most are part of the decaying
\nsystem. However, as we stand and watch powerlessly as total
\ndevastation threatens our monetary system, why not gather the
\ncourage to openly acknowledge this process of destruction and not
\nmerely put the blame on the World Bank or the IMF, both of which
\nalready admitted their sins.<\/p>\n
-- Merdeka, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/whither-the-economy-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }