Can Prabowoโs economic nationalism save Indonesia from potential MSCI downgrade?
In the wake of Indonesiaโs worst stock-market rout since the 1998 Asian financial crisis, President Prabowo Subiantoโs administration has turned to appeals to economic nationalism to shore up confidence, urging citizens to rally behind the countryโs battered stock market. The government has promised reforms in response to warnings from global index provider MSCI that Indonesia could be downgraded from emerging-market to stand-alone-market status. But analysts say its patriotic appeals will do...