While China faces an economic meltdown like many other major economies of the world, the Indonesian economy, riding on its revolutionary reforms, emerges as the new success story and a serious competitor.

For long, the Southeast Asian economy was reportedly seen as dependent merely on the economies of China and Singapore. However, recent developments may already set aside this norm.

Like Us on Facebook

While other emerging economies struggle to survive, Indonesia is practically drifting away from the confusion.

Indonesia, supported by a robust internal economic policy and a state committed to making pro-market changes, is gradually emerging as a name in the global economy.

The International Monetary Fund's mission director for Indonesia praised the government, earlier this year, for its support to build the economy.

The nation lately saw its biggest increase in more than three years after undergoing a negative growth from 2010 right until mid-2015.

Watkinsville, Georgia-based Stadion Money Management portfolio manager Clayton Fresk told CNBC recently that "Indonesia has been one of the stronger performing EM countries this year outside of countries like Brazil."

"The (negative) trend has reversed and the country is seeing small improvements in that reading over the past year," added Fresk, who manages nearly $4 billion in assets.

With Indonesia's employment on the increase and interest rates declining, experts anticipate its GNP to increase by five percent this year.

Meanwhile, NN Investment Partners' equity markets group portfolio manager Smriti Shekhar referred Indonesia to be a "standout as an attractive market" for a number of reasons. Primarily because of its huge population that presents positive demographics, such as high life expectancy and fertility rates. He also noted the government's efficient financial control resulting to a moderate inflation of about three to five percent.

Unfortunately, that is not how things are working in other parts of the globe.

Most of the important economies have lived by their obscure fiscal policies for too long, which are no longer providing any value for their money. Even China's reduced growth scatters across other developing markets of the region. 

TagsChina Indonesia, Indonesia China, Indonesia economy, China economy, asian economy