Myanmar’s Economy in Freefall Under Military Regime
Myanmar’s Economy in Freefall Under Military Regime
Feature: The military regime s security forces guarding City Hall in downtown Yangon Feb.6 / The Irrawaddy
958
By The Irrawaddy 22 April 2021
Before last year’s November election, the World Bank and the Asian Development Bank predicted that Myanmar would bounce back strongly from the economic impact of the global COVID-19 pandemic, with the economy set to grow at around 6 percent in 2021.
In the immediate aftermath of the military’s Feb. 1 coup, junta leaders sought to keep the economy on track by presenting themselves as business-friendly and saying that economic policies would remain unchanged during the state of emergency. The junta even appointed some individuals to Myanmar’s key economic ministries who were already well-connected and well-known to the international community.
The Daily Universe
FILE – In this Feb. 1, 2021, file photo, Toni Winter, left, chants as she marches with members of Community Justice Initiative and supporters to the Rochester Police Department’s Clinton Section, protesting the police handcuffing and pepper spray of a 9-year-old Black girl in Rochester, N.Y. A police officer using pepper spray against the girl has spurred outrage as the latest example of law enforcement mistreatment of Black people, and one that shows even Black children are not exempt. (Tina MacIntyre-Yee/Democrat & Chronicle via AP, File)
What started with a report of “family trouble” in Rochester, New York, and ended with police treating a fourth-grader like a crime suspect, has spurred outrage as the latest example of law enforcement mistreatment of Black people.
(Feb 10): Myanmar’s political upheaval is prompting global companies from Japan to Thailand to dial back operations in the country, spurring concern about a widening business fallout.
From beer maker Kirin Holdings Co to an early backer of gaming firm Razer Inc, companies and investors are weighing the impact of a military coup that’s thrust the once-thriving nation into a state of emergency. The turmoil is prompting multinationals like Thailand’s biggest industrial developer to delay investment plans, a harbinger of things to come should the chaos deepen.
Western nations are applying pressure on the newly installed military government of the Southeast Asian country, once regarded as greenfield territory for everything from oil and gas to leisure resorts. With the US reiterating plans to renew sanctions, it could cause a rippling effect among businesses, threatening US$5.5 billion in foreign investment in a country that just a few years ago was on the path to democracy.
Myanmar’s political upheaval is prompting global companies from Japan to Thailand to dial back operations in the country, spurring concern about a widening business fallout. From beer maker Kirin Holdings Co. to an early backer of gaming firm Razer Inc., companies and investors are weighing the impact of a military coup that’s thrust the once- thriving nation into a state of emergency. The turmoil is prompting multinationals like Thailand’s biggest industrial developer to delay investment plans, a harbinger of things to come should the chaos deepen. Western nations are applying pressure on the newly installed military government of the Southeast Asian country, once regarded as greenfield territory for everything from oil and gas to leisure resorts. With the U. S. reiterating plans to renew sanctions, it could cause a rippling effect among businesses, threatening $5.5 billion in foreign investment in a country that just a few years ago was on the path to democracy.
Myanmar faces wider business fallout after Kirin retreat
Faris Mokhtar, Philip J. Heijmans and Chanyaporn Chanjaroen, Bloomberg
Feb. 10, 2021
FacebookTwitterEmail
A demonstrator holds up a National League for Democracy (NLD) flag during a protest outside the Embassy of Myanmar in Bangkok, Thailand, on Feb. 1 2021.Bloomberg photo by Andre Malerba.
Myanmar s political upheaval is prompting global companies from Japan to Thailand to dial back operations in the country, spurring concern about a widening business fallout.
From beer maker Kirin Holdings Co. to an early backer of gaming firm Razer Inc., companies and investors are weighing the impact of a military coup that s thrust the once- thriving nation into a state of emergency. The turmoil is prompting multinationals like Thailand s biggest industrial developer to delay investment plans, a harbinger of things to come should the chaos deepen.