When globalism weakens, can regionalism step up?
26/12/2025
Woo Says: The Asian Financial Crisis: Indonesia’s Road to Recovery
Mini-Series: Lessons from the Asian Financial Crisis
This episode of #WooSays is Part 3 of our mini-series on the Asian Financial Crisis of 1997–98, where Professor Emeritus Datuk Woo Wing Thye and Melisa Idris turn to Indonesia, a country that is hit hard by the storm.
When the rupiah collapsed, the economy contracted by double digits, poverty surged, and unrest toppled President Suharto’s three-decade rule. Indonesia’s recovery was the slowest in the region, weighed down by deep institutional weaknesses and political upheaval. This episode explores why Indonesia’s fall was the steepest, why its rebound lagged behind its neighbors, and how the crisis reshaped the nation’s politics, economy, and society.
This episode of #WooSays is Part 3 of our mini-series on the Asian Financial Crisis of 1997–98, where Professor Emeritus Datuk Woo Wing Thye and Melisa Idris turn to Indonesia, a country that is hit hard by the storm.
When the rupiah collapsed, the economy contracted by double digits, poverty surged, and unrest toppled President Suharto’s three-decade rule. Indonesia’s recovery was the slowest in the region, weighed down by deep institutional weaknesses and political upheaval. This episode explores why Indonesia’s fall was the steepest, why its rebound lagged behind its neighbors, and how the crisis reshaped the nation’s politics, economy, and society.