Testing times for corporate Indonesia

Jakarta

THE last time Indonesia faced such a deepening economic and social crisis was 22 years ago in 1998 when the country convulsed into chaos following the fall of President Suharto's New Order government.

Then as now, the rupiah plunged below 16,000 level to the US dollar; businesses shut down, and the streets of Jakarta became eerily quiet. The difference of course is this time round, there was no violent upheaval or riots; no transfer of political power and no students demonstrating on their campuses.