Banking on Myanmar: A Strategy for Financial Sector Reform
Once the envy of Asia, Myanmar’s financial sector is now a shadow of its former self. After decades of misguided junta-led strategies, state ownership, and policy shocks, confidence in cash as a safe asset and banks as trustworthy institutions has evaporated. Finance is a binding constraint on Myanmar’s future development. The government needs a reform strategy that supports the financial sector’s rapid development while ensuring its stability, efficiency, and accessibility.
Dubious Deterrence in the East China Sea
Synopsis
During his recent visit to Tokyo, President Obama declared that the US-Japan alliance covers the contested Senkaku/Diaoyu islands. Unfortunately, the president's deterrent strategy towards Beijing will place the US in a nightmarish predicament should either Japan or China initiate hostilities against the other.