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To save Myanmar, first crush its economy

Sumary of To save Myanmar, first crush its economy:

  • One of the last frontiers for investment in Asia, Myanmar is seeing foreign investor sentiment quickly dissipating, while the civil disobedience movement has successfully derailed the junta’s ability to control and sustain the economy…
  • The main ports of Yangon are operating at 10% capacity, and over 150 companies — domestic and foreign — are backing an advocacy campaign opposing the coup, as well as domestic boycotts of military-affiliated companies such as Myanmar Brewery and telecoms operator Mytel…
  • Foreign companies including Toyota Motor, Puma Energy and Woodside Petroleum have withdrawn or suspended operations…
  • Others that had partnered with the Myanmar military, such as Japanese beverage group Kirin Holdings which has an alliance with a military-affiliated company, have ceased joint ventures …
  • 14 was undoubtedly the one of the last straws for any investor willing to bet their capital on Myanmar’s future…
  • We can expect a large exodus of foreign businesses, especially smaller and medium-sized enterprises that want to save whatever they have left…
  • The junta tried to reassure Myanmar’s public — and the world — that it would maintain the country’s existing economic policies, promising business leaders immediately after the coup that all would be well…
  • The junta’s latest moves, including threatening banks with the prospect of forcibly transferring their deposits to state-owned banks, suggest they know how quickly the situation is deteriorating….

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