In times of economic crises (such as the current one), good news are hard to come by. While some analysts claim that 'green shoots' are already growing and that economies worldwide are on their way to recovery, many others are worried that we're being over-optimistic. I can agree why we should worry. Just last month, China’s export figures plunged over 22 percent in April 2009 compared to a year ago, an increase from the 17 percent drop in March 2009. Here in South East Asia, Singapore's GDP shrank more than 11 percent in the first quarter of 2009. From these facts it is hard to see the 'green shoots'. And of course, we should be aware that the H1N1 Influenza outbreak is not over yet. The virus might still make a comeback, and if it does it will further plunge the world's economy deeper into crisis.
A silver lining closer to home is news on the Indonesian economy. Having little dependence on exports and a strong domestic market, the Indonesian economy is poised to grow between 3 to 4 percent this year, an achievement where most countries' GDP growth are projected to be in the red. A recent successful election have also increased investor confidence that the political climate is stable. This good news does not benefit Indonesians alone. As the largest economy in ASEAN, a politically stable and economically progressive Indonesia is a boon to the whole region, and perhaps beyond. It is no surprise that in recent months, there are plenty news of economic cooperation between Indonesia and other nations.
Attached is a short clip on the Indonesian economy from World Business
