| 英文摘要 |
A double shock of the Asian currency crisis and the collapse of long-standing Soeharto rule brought about dramatic changes of political economic system in In- donesia. The nexus between state and capital that had been forged during the Soe- harto regime underwent reconfiguration or dismantling in the post-Soeharto refor- masi (reform) era. Conglomerates were not only hit hard by the economic crisis, but also suffered a blow from the political changes. An extreme case of this capital dismantling was the Salim Group, Indonesia’s largest business group. The Group had already grown out of a politically-leveraged business into a multinational con- glomerate with high competence. However, the Indonesian public regarded the Group as a symbol of Soeharto-linked ethnic Chinese conglomerate because of close ties between the Group’s founder, Liem Sioe Liong, and Soeharto. The Group’s domestic business was dismantled primarily because of the political reason, while its overseas business was restructured owing to heavy debt burden. This case shows how Indonesia dealt with dominant ethnic Chinese capital on the occasion of regime change and also how a highly-diversified and highly-leveraged conglome- rate totally transformed itself through the crisis. |
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