Burma struggles to attract foreign investment

wsws.org Monday 7th October, 2013

Two years after the Burmese junta made a turn toward the West, investment from China has slumped and the fall has not been compensated by inflows from the US and Europe. The lack of investment and jobs is leading to rising social tensions. Unemployment and poverty remain widespread.The military-backed government’s decision to suspend the Chinese-financed Myitsone Dam on the Irrawaddy River in September 2011 sent a message to the US that Burma (Myanmar) would distance itself from Beijing. Washington had been engaged in diplomatic moves to undercut Chinese influence, culminating in a visit by US.