Predicting a country’s long-term direction and potential based on a series of capital markets deals is rarely a sensible idea. But there are exceptions.
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Indonesia has focused the minds of investment bankers and global investors this year, having spent decades being largely overlooked by both. For all its manifest advantages – chiefly natural resources – the sprawling Asian nation was perceived, often correctly, as a perpetually slumbering giant: corrupt, unworkable, economically unvaried and controlled by a handful of families who squirrelled away their private wealth in nearby Singapore.
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