transition into a crony capitalist

Furthermore, the arrest of foreign currency exchangers effectively made holding foreign currency nearly illegal, echoing the SPDC’s past introduction of the Foreign Exchange Certificate (FEC). In 2024, the SAC’s announcement of a return to the state cooperative system (reminiscent of the BSPP era) has triggered widespread concern among the working and middle classes. This apprehension stems from historical experiences of economic hardship and the perceived enrichment of the ruling elite under socialist policies, followed by their transition into a crony capitalist class In summary, Myanmar’s economic and political trajectory has been significantly defined by prolonged totalitarian governance and substantial military influence. In 1962, the “Burmese Way to Socialism” สล็อต เว็บตรง