While the Rohingya crisis and the escalating problems in Kachin and northern Shan State are grabbing headlines, Myanmar’s sagging economy and the withdrawal of investment by Western nations threaten to hit the largely impoverished nation the hardest.
The country’s budding tourism sector has the potential for much more growth that can only be described as extraordinary.
However, the rising threat of increased sanctions, particularly against military leaders, and the potential for legal action against them in international courts will only serve to exacerbate the current situation. While the wealthy elite can ride this out, the bulk of the population of 50-60 million people have just emerged from the dark decades of military dictatorship and isolation and are already feeling the brunt.
In early October the World Bank, an organization that tends go as far as it can to not frighten investors, downgraded its forecast for Myanmar for the fiscal year ending on March 31, 2019, to 6.2 percent.