Both Indonesia’s and China’s economy ended in chaos after their leaders, Suharto (Indonesia) and Mao (China). Mao lead the Great Leap Forward campaign which ended in disaster and resulted in tens of millions of deaths. On the other hand, Suharto led Indonesia with a young and inexperienced government and cause their economy to deteriorate and resulted in severe poverty hunger. However, both countries have also managed to rebuild and develop their economy after the resignation and downfall of their leaders. The next leader to take over China after Mao Zedong was Deng Xiaoping. He carried out reforms in agriculture and industry, reformed state enterprises, and introduced new incentives such as piecework, overtime, bonus payment, profit sharing, etc. With these new policies and reforms, Deng was able to open up China to the outside world and sped up economic development, which marked the beginning of private economy and foreign investment in China. After the Downfall of Suharto in Indonesia, the New Order administration soon brought a degree of discipline to economic policy which quickly brought down inflation, stabilized the currency, rescheduled foreign debt, and also attracted foreign aid and investment. A number of economic reforms were then introduced to improves export competitiveness, de-regulate the financial sector, etc. Now, unlike their underdeveloped agrarian economies of the past, China and Indonesia can be seen as two of the many rapidly developing countries of the world.
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