(5) Weak banking sector: The Indonesian banking sector was weak and dominated by a few large conglomerates, which made it vulnerable to a sudden loss of confidence,
(6) POOR ECONOMIC FUNDAMENTALS: The Indonesian economy was characterized by low growth, high inflation, and a large trade deficit, which made it difficult for the country to withstand the shock of the financial crisis.
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WAP:
From 1988 to 1997, how to describe government's financial management in Indonesia?
AI:
From 1988 to 1997, the financial management of the Indonesian government was marked by a number of weaknesses and issues. During this period, the government relied heavily on borrowing to finance its budget deficit, which led to a rapid accumulation of foreign debt. There was also a lack of transparency in government financial management, which made it difficult for investors to assess the country's economic situation. In addition, corruption was widespread, and the allocation of government funds was often influenced by political considerations. The weak financial management of the government during this period contributed to the country's vulnerability to the financial crisis that occurred in 1997-1998.
WAP:
What do you know about economy in Indonesia 1988?
AI:
In 1988, the Indonesian economy was in the midst of a period of rapid growth and expansion. During this time, Indonesia was experiencing high levels of economic growth, fueled by a combination of favorable macroeconomic conditions, such as low inflation and favorable interest rates, as well as a FAVORABLE INVESTMENT CLIMATEÂ and a growing middle class. The government was actively promoting foreign investment and encouraging the development of new industries, particularly in the areas of manufacturing and services. Additionally, the country was rich in natural resources, which provided a significant source of income and helped to support economic growth. Despite these positive factors, there were also challenges facing the Indonesian economy, such as income inequality, a lack of skilled labor, and weak infrastructure. Overall, the Indonesian economy in 1988 was characterized by strong growth potential, but also by a number of structural weaknesses that would become more apparent in the years to come.
WAP (talk to myself):
#Pakto88
Tipe yang sama kayak #OptimisTapiWaspada, saya rasa. Tapi ini berasa sekali kalimat AI-nya mengarah ke "besar pasak daripada tiang".
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WAP:
How many banks in Indonesia from the year 1988?
AI:
I'm sorry, I don't have the exact number of banks in Indonesia from the year 1988. However, during that time, the Indonesian banking sector was dominated by a few large state-owned banks, with a relatively small number of private banks and foreign banks operating in the country. The banking sector was not as well developed as in other countries in the region, and there were significant challenges facing the sector, including a lack of competition, weak regulation, and a limited range of financial products and services. The number of banks operating in Indonesia has INCREASED SIGNIFICANTLY in the decades since 1988, with a growing number of domestic and foreign banks entering the market and expanding their operations.
