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Indonesia gets investment status, but where’s the investment?

Indonesia starts the new year hopefully: it has been upgraded to investment status by one of the rating agencies. It’s no huge surprise; rating agencies tend to think quite short term, and short term, the indicators look good. The Financial Times is enthusiastic about what it calls a “demographic dividend” i.e. lots of young people. “Indonesia’s dependency ratio of workers to retirees is dropping from about 55 percent now to 45 per cent by 2025,” says the pink paper. What…