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Economic
Development
Late 1960s - 1970's
Indonesia's wealth of natural resources attracted wide global investment interests, exploding
in the late 1960's, early 1970's.
Under the guise of aiding the country's economic development massive loans were
generated for infrastructural development, oil and mining explorations, in fact leading t
o a foreign corporate takeover of the country.
Relations withthe US and other Western countries changed overnight, foreign investment
grew, project and development aid flew in abundantly, stimulating development and corruption.
Project aid funds were highly focused on infrastructure development to facilitate foreign corporate investment
operations, not specifically the country's needs.
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