The Southern Silk Route by Lipi Ghosh

Author:Lipi Ghosh [Ghosh, Lipi]
Language: eng
Format: epub
ISBN: 9780367229078
Barnesnoble:
Publisher: Taylor & Francis
Published: 2019-04-25T00:00:00+00:00

Part 2

Socio-Economic Implications of Rejuvenated Southern Silk Route

Chapter 9

Relevance of Myanmar in Silk Route Resurgence

SAYANTANI SEN MAZUMDAR

Introduction

MYANMAR FEATURES significantly in the annals of contemporary international politics not only because of the richness of its resources and advantageous geo-strategic location but also due to its crucial political dynamics. The increasing emphasis on the resurgence of the Silk Route mandates significant role of Myanmar. In its transition to democracy Myanmar encounters the dilemma of synthesizing its past enshrined in its enduring historical and cultural morale with the present political and geo-economic realities. The rationale of reunification, reassertion of status, self-sufficiency as well as the essence of authority characterize the core of both the ruler and the ruled in Myanmar. The all-encompassing impact of its immediate neighbours like India and China in socio-political, cultural or scientific and technological domains no longer are the reasons of the study of the country’s history and politics; on the other hand, indigenous data-literatures, myths, epigraphs, chronicles, edicts, law codes, census records, ideological directives, cultural ethos have been accorded preeminence in the restoration of the country’s pre-colonial tradition.1

For about five decades Myanmar has experienced an isolationist position due to its political incompetence. Economic development of the country has been hindered by isolation, conflict and mismanagement by a succession of military-led governments. The Myanmar economy was adversely laden with a highly complex multiple-exchange rates regime, an ambiguous administrative mechanism for the flourishing of businesses and spate of high inflation as the Central Bank of Myanmar monetized the budget deficit by printing money. The business environment was conspicuous by the absence of precision and transparency on trade and commerce especially regarding export earnings from the sale of natural resources. The economy was under the supreme command of the monopolies under state-owned Economic Enterprises and was dominated by crony capitalism with connections to the military leaders. There was limited awareness of the government’s budgetary specifics and the review of economic policies by media was totally non-existent. The military government’s control and dominance on the large-scale physical infrastructure projects for development such as bridges, railways and road construction by overlooking the imperative of investment in sectors like health and education has somewhat retarded the progress of the country. The existing corruption and inadequacies in the implementation of the projects have made much of the endeavour obsolete and failed to meet the requirements of the population. The decades of failed economic policies resulted in placing the country at the bottom of the UNDP Human Development Index. For instance, in 2012 Myanmar was ranked 149th out of 187 countries.2

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