Indonesia’s Jack Ma?
Commentary by Wayne Forrest On June 29 Nadiem Makarim, 42, son of well-known Indonesian attorney Nono Makarim, was convicted and sentenced to 10 years by Indonesia’s Corruption Court for incurring state losses and abuse of authority from purchases of Google Chromebooks when he served as Education Minister (2019-2024). Most of Indonesia’s internationally oriented business community […]
Forex Blues: Rupiah at 18,000
Commentary by Wayne Forrest An exchange rate is often described as a daily referendum on a country’s economic management. When investors, companies, tourists, and central banks buy or sell a currency, they are implicitly expressing confidence—or lack of confidence—in that country’s future. What is not so clear is what they are voting on. Is it […]
Indonesia Jumps Out of A Hole
Indonesia Jumps Out of a Hole Commentary by Wayne Forrest Indonesians are known for their resilience and patience, especially when facing adverse circumstances. Both qualities are being severely tested currently. In the span of two weeks President Prabowo leaned heavily towards his American counterpart. He visited Washington February 18-19 to participate in the inaugural meeting […]
A Model For Venezuela
January 2026 Commentary by Wayne Forrest Oil once dominated the US-Indonesia narrative in a way resembling what we are seeing with Venezuela. Although there were trials and tribulations it never boiled into what seems to be emerging currently. Both countries were coveted for their large and accessible reserves beginning in the early 1900’s. Although Venezuela […]
Flash Visit to Indonesia
December 2025 Commentary by Wayne Forrest Under AICC’s roof is AICEF (American Indonesian Cultural and Educational Foundation). Until 2018 it had a stand-alone presence. Since AICC took over as the group’s administrator the AICEF’s scope has been enlarged to include more cultural activities along with its traditional support for Indonesians studying for doctoral degrees in […]
Continuity, State Activism, Multilateral Engagement: Prabowo’s First Year
Commentary by Wayne Forrest President Prabowo’s first year in office has been characterized by a combination of continuity, state activism and multilateral engagement. Upon assuming the presidency in October 2024, Prabowo kept many key ministers from President Jokowi’s Cabinet, including Finance Minister Sri Mulyani, Coordinating Economic Minister Airlangga Hartarto, Mining and Energy Minister Bahlil Lahadalia, […]
End of the Year Visit
End of the Year Visit Commentary by Wayne Forrest In a few weeks I will be visiting Indonesia for the second time this year. My mission is both commercial and cultural. Many of you may know that since 2018 AICC has been administering a foundation, the American Indonesian Cultural and Educational Foundation (AICEF), a […]
Is Indonesia At a Crossroads in Perpetuity?
Commentary by Wayne Forrest I’ve recently read several articles about Indonesia at a strategic crossroads related to China and the US, obviously related to US tariffs. It was a kind of déjà vu.In a famous Simpson’s 2004-episode Homer and Marge are uncharacteristically flying first class and Homer picks up an Economist(with a fictional cover) and […]
Midyear Outlook
Midyear Outlook Commentary by Wayne Forrest Indonesia must be experiencing whiplash after receiving President Trump’s tariff notification letter last week. Beginning August 1, the 32% tariff announced in April will take effect barring any further efforts on Indonesia’s part, according to the letter, to invest more in the US or eliminate trade barriers for US […]
Follow The Bouncing Ball
May 2025 Commentary by Wayne Forrest Remember those cartoons with song lyrics and a bouncing ball. The ball helped you match the words with the music. I wish I had a bouncing ball to follow the tariff issue and the visa issue, and I suspect many of you do too. So, here is my attempt, […]