Indonesia: The Human Dimension of the Asia Crisis

Abstract

The Asian financial or economic crisis that started in July 1997 in Thailand has had a widespread impact on the economic growth, development and political stability of the major countries in Asia. The contagion of the crisis with damaging consequences has also spread to a lesser extent to the countries beyond Asia such as the USSR, Latin and North Americas and the European Union. The economic and political impact of the crisis is serious in the sense that it has retarded decades-long growth and development in the once 'miracle economies' in Asia and destroyed a number of governments in it in the process. But at the same time, this impact may not be that serious if it does not adversely affect the social fabrics or the well-being of the ordinary people of these countries.