Despite no longer having the name Burma, not much else has changed in terms of political climate. To this day, Myanmar is highly militaristic in its build and execution. This is rather bad for their government and their economy.
Today, we want to discuss how the highly militaristic build of the Myanmar government is rather detrimental to its economy.
In order for the economy to grow, there are a few things that are needed:
Myanmar is often in a state of political unrest. There are militant groups that often do skirmishes against the government troops. The government has been accused of using excessive force against ethnic groups that are not very high in their priority list like the Rohingya.
Peace is very conducive to a growth in economy. Take Japan for example. After WW2, they hunkered down and took advantage of the peace that they were given. They turned their poor economy into on of the international giants by focusing on infrastructure and development of their electronics.
The economy is reliant on the turnover of goods. Trade and sales are usually the driving force toward boosting the economy of a nation. There needs to be consistent production of goods and proper processes of businesses in order to keep the economy going.
Burma (or Myanmar) had a military budget of $2.1 Billion for 2017. This is a huge percentile of their overall national budget. They have justifications regarding battling the militant groups in the area. However, a major concern is the fact that what they are fighting are their own citizens. The military and their spending will continue to bleed the economy. This is due to a few things:
Myanmar is not at war with its neighbors. Thailand and Bangladesh have their own issues but are on friendly terms with Myanmar. So the massive spending that the nation does on its military tends to imply that the nation is not at peace. As you may know, unrest can and will affect the quality of life of everyday citizens.
The highly militaristic rule of Myanmar’s government is unlikely to change. This is because it has been allowed to go on for so long and with every year that passes, the people lose more and more of their freedom. Not to mention the fact that outposts become stronger and the army becomes better armed. While a wholly militaristic rule can help to keep the peace (which would be good for the economy), the history of Myanmar has gone on to show otherwise.