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Aug 20, 2012 (LBO) - Myanmar could become a middle income nation, following on the path of Asia's fastest growing economies if it makes sweeping reforms, an Asian Development Bank report has said.
“Myanmar’s strategic location, rich natural resources and abundant labor force leave it perfectly positioned to prosper from Asia’s dynamic economic growth,” Stephen Groff, ADB’s Vice President for East Asia, Southeast Asia and the Pacific said in a statement.
"Myanmar could be Asia’s next rising star, but for this to happen there needs to be a firm and lasting commitment to reform."
Usually 'economic reforms' involve giving freedoms stolen by the state back to the people.
Before and after the Second World War, Western nations went on a path of state intervention, economic manipulation, controls, Keynesianism and nationalism to steal the freedoms of the people.
Many Asian nations followed suit, strangling their people with laws enacted through Western-style parliaments and enforced through Western-style police and standing armies, denying freedoms that were available even during feudal rule in Asia.
Instead of building infrastructure with taxes collected from the people (such as tanks and irrigation canals that feudal rulers did) elected rulers engaged in dog-eat-dog income re-distribution to special interest groups.
Without infrastructure (roads, power, communications) people remain in poverty.
The ADB report, >i>Myanmar in Transition: Opportunities and Challenges looks at Myanmar's political and economic reforms which began in 2011.
The report said there is much to be done.
"[O]nly a quarter of people in Myanmar have access to electricity and only one in five of the country’s roads are paved to all-weather standard," the report.
It said "concerted efforts are needed to increase transparency and enhance public services."
"To strengthen social cohesion and cut poverty rates, greater investments are needed in education, health and social services," ADB said.
"Although more than half of Myanmar’s people rely on agriculture for a living, less than 20 percent of the country’s crop land is irrigated."
"To fully realize Myanmar’s potential, the report suggests the country must focus on strengthening connectivity — via infrastructure in transport, power and telecommunications services, as well as modernizing its financial sector.
"Its economic base must also broaden beyond agriculture to the manufacturing and service sectors to meet a growing demand for jobs."
http://www.lbo.lk/fullstory.php?nid=191618252
“Myanmar’s strategic location, rich natural resources and abundant labor force leave it perfectly positioned to prosper from Asia’s dynamic economic growth,” Stephen Groff, ADB’s Vice President for East Asia, Southeast Asia and the Pacific said in a statement.
"Myanmar could be Asia’s next rising star, but for this to happen there needs to be a firm and lasting commitment to reform."
Usually 'economic reforms' involve giving freedoms stolen by the state back to the people.
Before and after the Second World War, Western nations went on a path of state intervention, economic manipulation, controls, Keynesianism and nationalism to steal the freedoms of the people.
Many Asian nations followed suit, strangling their people with laws enacted through Western-style parliaments and enforced through Western-style police and standing armies, denying freedoms that were available even during feudal rule in Asia.
Instead of building infrastructure with taxes collected from the people (such as tanks and irrigation canals that feudal rulers did) elected rulers engaged in dog-eat-dog income re-distribution to special interest groups.
Without infrastructure (roads, power, communications) people remain in poverty.
The ADB report, >i>Myanmar in Transition: Opportunities and Challenges looks at Myanmar's political and economic reforms which began in 2011.
The report said there is much to be done.
"[O]nly a quarter of people in Myanmar have access to electricity and only one in five of the country’s roads are paved to all-weather standard," the report.
It said "concerted efforts are needed to increase transparency and enhance public services."
"To strengthen social cohesion and cut poverty rates, greater investments are needed in education, health and social services," ADB said.
"Although more than half of Myanmar’s people rely on agriculture for a living, less than 20 percent of the country’s crop land is irrigated."
"To fully realize Myanmar’s potential, the report suggests the country must focus on strengthening connectivity — via infrastructure in transport, power and telecommunications services, as well as modernizing its financial sector.
"Its economic base must also broaden beyond agriculture to the manufacturing and service sectors to meet a growing demand for jobs."
http://www.lbo.lk/fullstory.php?nid=191618252
