By: Hayfa Felicia T.W (21) & Raissa Nabila S (33)
X Science 1
Since the independence of Indonesia till now, Indonesia has gone through several phases. One of which is the reign of Soeharto. Under his government, the economy of Indonesia is grew fast. But despite his success, it ended with the financial crisis in Indonesia in 1998. The crisis that hit Indonesia in 1997 -1998 is not the first crisis faced by Indonesia. However, the crisis is quite severe and it is caused by some cases in Indonesia. There are some causes of financial crisis in Indonesia.
First reason is the weakening Indonesian economic growth, which was caused by American currency. This reason emerged in the trade world, in which the prises of imported goods rose up. According to Tarmidi (1999, vol.4 no.1). Second reason is private foreign debt. According to (Investopedia, 2013). The third reason is the implementation of policies that are not carried out continously. According to Tarmidi (1999, vol.4).
The last reason is a lot of corruption that happen in Indonesia. According to Investopedia (2017) “Corruption is dishonest behavior by those in positions of power, such as managers or government officials”. Corruption can include giving or accepting bribes or inappropriate gifts, double dealing, manipulating elections, diverting funds, laundering money and defrauding investors. So, corruption is an action baneful to many parties. According to the PBB report, state assets stolen by Suharto and his family is estimated at 15 billion dollars to 35 billion US dollars. The figure was higher than theft committed by the Philippine dictator, Ferdinand Marcos, which ranges from 5 billion to 10 billion US dollars. As the result is corruption has not been completely eradicated and even now impressed added increased. Indonesia economic crisis that accured in the initial 1998 had a big impact on the country and its people. The crisis was indicated, mostly by the inflation rate which was high enough.
References
I think you can change the title to "Indonesia's Financial Crisis in 1998" or "Indonesia's 1998 Financial Crisis". As you focus on the events of the crisis, when and how it started to when how it worsen.
BalasHapusThe causes you've written should be put as details/explanation of the events.
Because you are focusing on the events, make sure WHEN is the priority. Which mean the time detail (year/month/day/before or after some event). The explanation of the causes can follow.
For example:
The weakening of Indonesian economic growth start to occurred on MM YY, due to American currency went up drastically.
Or
The monetary crisis started when American currency went up significantly in MM YY. This reason emerged in the trade world,...