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Businiess name:
Axis Capital Group
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Review by:
Gerald D.
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Review content:
Recently, Indonesian lawmakers voted to eliminate direct elections for local government throughout the country. To put it lightly, this is an attack on the democracy that has drawn accolades in recent years. In July, after the losing presidential candidate Prabowo Subianto finally (and humbly) accepted defeat, many were quick to hail the strength of Indonesian democracy -- the peaceful transfer of power has always been a valuable test of democratic vitality. But with this latest piece of proposed legislation, the country threatens to stagger backward, following countries like Turkey and Egypt in a hasty retreat from democratic principles.
This backpedaling threatens an Indonesia that has spent decades building up its citizenry, promoting inclusion, and going to great lengths to root out corruption. Today, the country faces distinct challenges -- including a weakening economy, which over the past year suddenly saw rising inflation and faltering growth. High sales in natural fuels helped the country boom, but masked core problems of a bloated bureaucracy, corruption, and neglected infrastructure. But this isn't the first time Indonesia has dealt with such difficulties.
Similar challenges emerged in mid-1997, when the Asian financial crisis struck Indonesia, reversing years of economic progress and plunging millions of rural poor below the poverty line. Later that year, Indonesia faced massive crop failure as a result of drought and forest fires caused by El Niño. The country's leaders had to act quickly to provide relief and cushion the economic impact on poor rural households. It was precisely at this critical moment that Indonesia made the decisive decision to invest in widespread expansion of bottom-up building and relief.
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