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The new economy bubble shone brightest before it burst. Young geeks moved from the back rooms to the board rooms, forming their own dot com companies, making their own rules and belief systems. What they never had was solid, old-fashioned profits...
Arguably globalisation did everyone a favour by melting down the economy of Indonesia because it laid bare the country's despotism and corruption. The tragedy is that globalisation didn't just flatten the crony capitalists, but also the ordinary people who had just been working hard according to the local rules. The question now is whether institutions like the IMF can take advantage of the momen…
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