Qualified Optimism

THOSE who believe in economic cycles would agree that the Indonesian economy has just left the "trough" area—the deepest point of the 1997 recession behind—and is now climbing its way back to the "expansion" area. The road to the "top," steep as it is, is still a long way off. But the "recession" area has passed. Both the short- and medium-term macroeconomic indicators are showing improvement

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