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Over the past decade, the Indonesian economy has seen a robust economic growth rate of about 5% per year. The average Indonesian has seen their income rise by just over a third due to the doubling of the country's services sector.
Despite the growth, the Indonesian stock market has gone nowhere when priced in U.S dollars.
There are a few significant reasons for the underperformance. Chiefly, the Indonesian Rupiah has devalued about 50% against the U.S dollar. Beyond that, much of the high growth rate was priced in via high