Learning from Suharto's 3 decades of office which full of corruption, collusion, and nepotism that weakened banking system, Indonesia improves the system especially by implementing good corporate governance. By this governance each bank is obligated to set up audit committee, risk management committee, and nomination and remuneration committee.What does this mean? This means that Indonesian banking system becomes healthier, more prudent, and more professional. Besides that, counter cyclical measures and domestic market which is supported by more than 200 million people of population is adequately strong to resist the crisis. Credible directly elected President as figured by President Susilo Bambang Yudhoyono also takes the role here as a result of Indonesian political reform.
The current world economic crisis is said to be generated by the collapse of Wall Street which is under President Bush's administration, moves wildly, lack of controll, and full of financial manipulations. Basically Indonesian's economic technocrats are American educated/oriented persons. In other words America is the place where most people from around the world study economics, so that it is rather disturbant that the current world financial crisis is generated by the country.
