A strategic partnership with benefits for China and Myanmar

Topic: 

Description: 

"The country is likely to see an economic rise due to abundant low-cost labour compared to other countries in the region. Myanmar has suffered from international sanctions for years, as well as severe import restrictions imposed by the former junta. Many economists say there is likely to be huge economic growth in Myanmar after joining China’s Belt and Road Initiative. The Belt and Road initiative or the New Silk Road is a modern initiative put forward by Chinese President Xi Jinping in 2013, which aims to expand China’s transport and communication network and connect China with many of the world’s economies under the umbrella of “joint profit”. This initiative is cross-border and not limited to the Asian region, reaching many geographically distant countries. Of course, neighbours have the largest share of the projects raised by this initiative. It is logical that the nearest countries are the first beneficiaries of such a huge project. When dealing with the special relationship between the Chinese and Myanmar and the political and economic relations that bring them together, more emphasis should be placed on the economy. Chinese investor plays a key role in supporting Myanmar’s economy. Today, many Chinese companies in Myanmar are investing in natural resources and introducing advanced technology to the country. For its part, the Chinese government attaches great importance to the promotion of investment in Myanmar because of the great benefit to China, based on the economic studies that push the Chinese government to move towards this neighbouring country. China is an important political and economic player in Myanmar, through China’s projects to build bridges, roads, ports and many other vital projects, which serve the Belt and Road Initiative. But the truth is, if China had not been this huge economic giant, the relationship between the two countries would not have been so remarkable. Today, China, through projects in Myanmar such as the Belt and Road Initiative, creates many job opportunities for the people of Myanmar and makes the government of Myanmar welcome China in its territory..."

Creator/author: 

MOHAMAD ZREIK

Source/publisher: 

Myanmar Times

Date of Publication: 

2019-05-17

Date of entry: 

2019-05-17

Grouping: 

  • Individual Documents

Category: 

Countries: 

China, Myanmar

Language: 

English

Resource Type: 

text

Text quality: 

    • Good