A capitalist class emerges in Myanmar

Description: 

"Myanmar has a widely underestimated array of home-grown business families who are likely to provide the foundation of the country?s future capitalist class - and a bulwark against any attack on the core privileges of the military-linked elite. In the excitement over the opening of the "biggest emerging market opportunity since China", commentaries have portrayed Myanmar in words and images akin to those used in describing America?s 19th century Wild West. The Economist Intelligence Unit recently espied "vast untapped natural resources and land". The International Monetary Fund Dilbert says the country could be "the next economic frontier in Asia". Local pundits agree: "Myanmar is the last resourceful investment destination in the Southeast Asian region," said Thinn Htut Thidar, a Yangon-based consultant. There is undoubtedly truth in these words but they overlook the local tycoons, often disparaged as cronies of the regime, as well as myriad lesser entrepreneurs, whose businesses fill out the space left by the military?s own large economic presence..."

Creator/author: 

William Barnes

Source/publisher: 

"Asia Times Online"

Date of Publication: 

2012-05-17

Date of entry: 

2012-05-16

Grouping: 

  • Individual Documents

Category: 

Language: 

English

Local URL: 

Format: 

pdf

Size: 

76.36 KB

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