CNI News
18 August 2024
Because speculations that President U Thein Sein (Retired) might participate in the interim government next year are emerging, businessmen who became much richer from economic recession are worried to become so, pointed out economic analysts.
After Sr-Gen Than Shwe (retired) handed over the State power to the government led by U Thein Sein, U Thein Sein opened all the economic opportunities and the economy improved as well.
Businessmen who have become more prosperous from taking advantage of economic recession (so-called cronies) are worried that U Thein Sein will participate in the current politics.
" Under the government led by U Thein Sein, there was no policy control. He opened all the economic opportunities. Those who are benefiting from the situation in which economic opportunities have been closed will be afraid of opening. When U Thein Sein came to power, because the military rule was changed into democracy, the international community accepted and welcomed as well as people local and abroad supported." said an economic analyst to CNI News.
While President U Thein Sein (retired) was on the way to China
Because President U Thein Sein (retired) changed from a centralized system to a democratic system, his government won the support from local and abroad. However, the current situation of Myanmar has gone back to a centralized system, the two situations were different.
When Sr-Gen Than Shwe handed over the State power to U Thein Sein, the political situation was stable and foreign investments entered. Moreover, exchange rates, commodity prices, prices of cars and SIM cards fell.
In the same way, because the then-government was able to make importers import products and foodstuffs from abroad easily, the people were able to buy them at lower prices.
While President U Thein Sein (retired) was meeting with the Chinese President Xi Jinping
Because the current political situation is unstable, it is hard to say whether U Thein Sein will take responsibility in the government, said political analysts.
When the country was under the government led by U Thein Sein, although prices fell, in comparison with the global market, prices really did not fall, U Htay Aung Kyi, a banking expert, told CNI News.
" Prices must be right. If prices are not reasonable, it's not the market economy. For example, prices of cars - the price of a Harrier car was 240 lakh kyats at that time, but its price was only 150 lakh kyats" he said.
President U Thein Sein (retired) had good relations with foreign countries including China and recently, he went to China at the invitation of China and met with Chinese FM Mr.
Wang Yi, member of the Central Committee of the Chinese Communist Party and member of the Politburo of the Communist Party. During his trip, he shook hands with the Chinese President Xi Jinping.
In solving the current Myanmar's political crisis, the Chinese government wanted to form a transitional government led by U Thein Sein and to hold a general election, said domestic political analysts.
