Home Business Economic growth or peace process,which one is urgent for Myanmar?

Economic growth or peace process,which one is urgent for Myanmar?

Economic growth or peace process,which one is urgent for Myanmar?

Peace is good for all.Normaly I think there is no people who don’t want peace,especially the people of Myanmar,breaking out the long-term civil war.Our governments  have been trying to negotiate cease-fire and peace process for decades.But while we are talking about peace dialogue on the round table,we need to free from worry.So long as we need something essential to live in daily life, we will not be free from worry and we’ll never get peace.If we are hungry,we want foods.If we don’t have enough foods to fill our stomach,we’ll not be fully satisfied.So even if we don’t have peace right now,we must have foods to eat,shelter to live in and cloths to wear in properly for people.But peace is also important for all.

Important or urgent?

From my point of view, peace is important for us right, but it is not urgent for us because peace process in our country is a long-term journey to go step by step. Now,for all Myanmar people, the growth of the economy is urgently needed.Almost all of Myanmar people also hope for a better life under the NLD government’s rule because the poor life for them is so long-time.So the government should focused on economy growth urgently.Can the government solve it promptly?I think that the answer is no because it takes them about a decade.

Now a trade deficit country

                As I’m not an economist,I don’t know much more how to do economical development .But I simply know that if we can sell more products or services abroad,we will be rich.In contrast,if we have to buy more products or services than what we can sell abroad,we will be poor.Now Myanmar is a country of trade deficit that means we are buying more than selling.For example,we have to import gasoline more than we can export rices.So balance of trade(BOT) of the country is negative.If only we can sell more and more,we will be free from poverty.If we have no products and services to sell others,how can we get money income to buy for living?Then, we are poor.For a family as well as a country,we need quality products and effective services to sell others.For example,Japan sells quality automobile products such as Toyota,Honda,Suzuki,Nissan and so on to the world.South Korea can sell a branded smart phone like Samsung to the world.Amazon sell their services to the world.All they are flushed with success and they are rich.

Trade deficit and MMK resistant is weak

A trade deficit typically occours when acountry cannot produce enough goods for it’s residents. A trade deficit represents an outflow of domestic currency to foreign markets. It is also referred to as a negative BOT.For a trade deficit country like Myanmar,foreign currency demands are always raising,and domestic currency MMK is weak in resistance.In the middle of August,the value of MMK falled into the least of last decades.The central bank and other concerning ministries tried to control the devaluation of MMK in the currency market.And the Ministry of Commerce also temporarily suspended re-export of sugar and diesel to control USD demands.

Fast-growing econmy?

Sometime a trade deficit of a country may indicate that the country is fast-growing economy and the consumers of the country are wealthy enough to purchase more goods than the country produces.But in Myanmar,the prices of consumer goods and the threat of inflation are still increasing in the local economy.We do not hope much more from NLD government because we know the saying that Roma wasn’t not built in a day.But we hope that the government may know that first thing is first and urgent and important.According to ADB’s report,Myanmar’s GDP expected to grow by 6.8% in 2018 and 7.2% in 2019.We expect to grow Myanmar economy in not so long.Lastly,I’ld like to refer the saying that only time will tell.



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