Myanmar’s February 2021 military coup wiped out almost all the economic progress that had been made under civilian rule. Today, the country’s economy remains completely devastated, with the national currency having lost 30 percent of its value amid widespread junta violence and instability. Macquarie University’s Sean Turnell — who served as an economic advisor to deposed leader Aung San Suu Kyi before being imprisoned by the junta for nearly two years — says there’s only one way to solve Myanmar’s economic crisis: military rule must end. And the international community should do all it can to ensure a return to democratic, civilian governance.
The Latest @ USIP: For Myanmar’s Economy to Recover, Military Rule Must End
Related Publications
Myanmar’s Crisis Looms Over the ASEAN Summit
This week, Indonesia hosted the Association of Southeast Asian Nations (ASEAN) summit and its related meetings with dialogue partners, including the East Asia Summit, in Jakarta. The three-day affair was bogged down by the bloc’s continued inability to sort through internal divisions over member-state Myanmar’s 2021 military coup, which has allowed the ruling junta’s violence and support for criminal enterprises to fester into transnational problems. Meanwhile, the absence of several leaders from major ASEAN partners, such as China’s Xi Jinping and U.S. President Joe Biden, further dampened proceedings.
Ask the Experts: How to Stop Transnational Crime Networks in Southeast Asia
In recent years, transnational criminal networks have built a web of influence throughout Southeast Asia to facilitate their illicit gambling, fraud and human trafficking operations. And while these networks emanate from several countries in the region — particularly Myanmar — their reach is global. In the United States alone, victims have already lost several billion dollars to scams. USIP’s Andrew Cheatham and Jason Tower discuss how these large-scale networks operate, how the 2021 military coup in Myanmar offered the networks a safe haven for their illicit activities, and how the United States can take the lead on addressing this issue.
Is Myanmar’s Junta Turning a Corner?
Are conciliatory winds stirring among the leaders of Myanmar’s coup regime, or is the junta engaging in deception and distraction as it struggles on the battlefield against a broad range of resistance forces? The answer is almost certainly the latter. It would not be the first time the ruling generals have sought to stimulate international interest in promoting dialogue solely to enhance their legitimacy abroad.
Four Takeaways from the ASEAN Summit
Foreign ministers from the Association of Southeast Asian Nations (ASEAN) gathered last week in Jakarta, with a range of critical challenges to address. Chief among those issues was the crisis in member state Myanmar, which the bloc is divided on how to approach. China’s aggressive activities in the South China Sea were also a key topic at the summit, with Beijing and ASEAN pledging to reach an agreement on a long-stalled non-binding code of conduct.