Indonesia - Commodity Curse
Jim O'Neill asks if Indonesia can break its old reliance on exporting raw materials to realise the potential of a huge, growing and rapidly urbanising population.
Indonesia has enjoyed a boom created by its exports of raw materials to China, India and other growing economies. But commodity prices are notoriously volatile and the world's fourth largest nation needs to create a more stable economy as it expands even further and urbanises rapidly. International investors are queuing up to exploit this major market, but as Jim O'Neill discovers in the second part of this series on the so-called MINT countries, the Indonesian story is complex: poverty, poor infrastructure and an historical aversion to foreign interference could all threaten the dream of joining the world's economic A list.