FOR an economy that’s often depicted as an ascendant power, decision-making in Indonesia has appeared remarkably haphazard lately. In an era when the dollar is very strong and emerging-market assets vulnerable, sudden lurches tend to be punished.
Since a financial collapse in the late 1990s almost dismembered the country, policymaking has been mostly steady and orthodox. Deficits have stayed within sensible legal limits and the currency has been allowed to fluctuate in response to broad developments.
