Ever since Goldman Sachs economist Jim O’Neill caught investors’ imagination with the Brics (Brazil, Russia, India and China), research departments have spent almost as long on wordplay as on heavy macro analysis. CLSA has big hopes for its new coinage, Chindonesia. The brokerage has been energetically touting “Asia’s next growth triangle”: to the China/India axis, add Indonesia.

If strong growth is the main consideration, then south-east Asia’s biggest economy has earned its inclusion: year-on-year gross domestic product growth of 4 per cent in the second quarter is the best in the region.