Indonesia's example in democracy
Indonesia's example in democracy
Far from inflicting further economic damage, the unexpectedly peaceful polls sent the Jakarta stock market soaring to levels not seen since the start of the financial crisis almost two years ago.
The rupiah also rose, and the International Monetary Fund played its part by releasing a further tranche of its bailout package.
Such confidence could yet prove premature. Although it appears to be on the road to recovery, the economy remains fragile. The threat of political instability also lies ahead in the run-up to the presidential election in November.
Megawati Soekarnoputri's Indonesian Democratic Party of Struggle appears to have performed impressively, according to the vote count so far.
But, if she wants to become president, Megawati will have to start setting out her policies, something she has conspicuously failed to do so far.
With so much of her support coming only from the fact that she is the daughter of late president Sukarno, there is the serious prospect of her being found wanting as a leader as the prospect of real power looms closer.
In any case, despite coming in ahead of its rivals, the party will still fall short of commanding a majority in the 700-member electoral assembly. That means it will have to strike agreements with other opposition groups, such as Muslim leader Abdurrahman Wahid's National Awakening Party, which looks set to take the runner-up position.
Despite the apparent humiliation in these elections of Soeharto's Golkar Party, it would be wrong to write off the movement and its organization. It still has enough votes to be a powerful force in whatever deals are struck.
The military also still has a key role to play over Aceh and East Timor. The disruption of polling in these two provinces showed the continuing ethnic tensions which may continue to plague Indonesia in coming months.
Despite all these obstacles, the huge nation has taken a historic step along the path toward democracy. It must be hoped that whatever difficulties may lie ahead can be peacefully resolved given sufficient goodwill on all sides.
Authoritarian countries which insist that allowing democracy would provoke instability should learn from this experience.
Indonesia could become a textbook example of how allowing people to choose their government can strengthen a country and put it on the road to a brighter and more prosperous future.
-- The South China Morning Post, Hong Kong