CIAO DATE: 08/2012
July 2012
Myanmar has embarked on an ambitious program of sweeping reforms to end its isolation and integrate its economy with the global system. Closely entwined with its dramatic political transition, the end of longstanding Western sanctions is supporting this reconfiguration. If the reforms are done well, many across the country stand to benefit, but those who profited most from the old regime’s restrictions and privileges will lose access to windfall profits and guaranteed monopolies. The crony businessmen, military and party elite will still do well but will need to play by new rules, meet domestic and foreign competition and even pay taxes. Perhaps recognising the opportunities a more vibrant economy in a fast-growing region will bring for all, there is no major pushback to these changes, rather attempts to adapt to the new economy. The challenges and risks are numerous for a government with little experience juggling the many changes required, but it cannot resist the pent-up political pressure for change it has already unleashed.
Resource link: Myanmar: The Politics of Economic Reform [PDF] - 3.2M