Indonesia's unexpected success story

The economy is prospering despite the sense of crisis elsewhere but the country’s politics could become more unstable.

Indonesia has emerged as an unlikely outlier, boasting a booming economy and period of political stability, say the writers. PHOTO: BLOOMBERG
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In 2013, the US investment bank Morgan Stanley dubbed Indonesia as one the "fragile five", a group of emerging economies that it believed were especially vulnerable to a jump in interest rates in the United States.

Almost a decade later, US interest rates are rising sharply, which is adding to the economic problems in the developing world. But Indonesia appears unruffled.

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