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Myanmar
This Week in AsiaEconomics

Myanmar touts economic potential but is it pie in the sky with it still at war?

Myanmar’s economy has shown signs of life after years of sky-high inflation and negative growth, but experts say it is far from recovering

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A road in Yangon, Myanmar in March. Experts say Myanmar remains far from recovering its previous footing which began with political and economic reforms in 2011 – a period of growth abruptly ended by the coup. Photo: EPA
A man walks past the ruins of a building after an airstrike by Myanmar’s military in Kyauktaw, western Rakhine State in June. Photo: AFP
Aidan Jones

Rina left Myanmar shortly after the 2021 coup as military violence escalated against pro-democracy protesters like herself and the economy of her country, once a Southeast Asian frontier that had flickered with promise, ground to a virtual halt.

Now in Bangkok, the 21-year-old has found work in a cafe, a regular, albeit low-salaried income, the minimum required by the millions of her age group forced to survive outside a domestic economy in ruins, where civil war has killed an estimated 100,000 people in five years.

But her thoughts on who is to blame for the destruction of her country remain unchanged: Min Aung Hlaing, the junta chief who became civilian president this year after elections in the parts of the country the military controls.

He is currently in the Thai capital basking in the welcome of an official visit to Thailand, following trips to China and India that have offered a diplomatic ladder out from isolation since the coup.

In Bangkok, the welcome included a red carpet, honour guard, gala dinner and a chance to offer business leaders a vision of his civil-war-torn nation as a future regional infrastructure and investment hub – rather than the regional basket case his coup created.

Myanmar’s ex-junta chief Min Aung Hlaing (left) and Thailand’s Prime Minister Anutin Charnvirakul make a toast during an official dinner in Bangkok. Photo: AFP/Royal Thai government/Handout
Myanmar’s ex-junta chief Min Aung Hlaing (left) and Thailand’s Prime Minister Anutin Charnvirakul make a toast during an official dinner in Bangkok. Photo: AFP/Royal Thai government/Handout

“Min Aung Hlaing is the reason we are living here outside our country. The day he is gone – and the military is defeated – we will go back and we will build our country again,” she told This Week in Asia, giving her nickname to avoid any recriminations.

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