Yangon, the former capital and largest city, was transformed as moldering buildings dating back to British colonial days were spruced up or demolished, making way for new roads, industrial zones, shopping malls and modern apartments. Eager to tap a young and low-cost workforce, foreign investors set up factories making garments and other light manufactured goods. Exports surged over the last decade, after the generals relaxed their decades-long hold on power. The civilian government ousted in February had been making slow but steady progress toward weaving impoverished Myanmar into the global economy after decades of quasi-isolation under past military regimes. Myanmar's economy is forecast to shrink by 18.4% in 2021, according to the Asian Development Bank, one of the deepest recent contractions anywhere. And when traders sell an item for 1,000 kyats one day and 1,200 the next, it means that the seller is losing while selling,” said Ma San San, a trader in Mawlamyine township who sells Thai goods. so people buy only what they need to buy. “Imported foods and medicines cost double what they used to. Hundreds of thousands of people in the country have lost their jobs and poverty has deepened as Myanmar’s inflation has skyrocketed. Griffiths said he was increasingly concerned about reports of rising levels of food insecurity in and around the cities. humanitarian chief Martin Griffiths appealed last week to Myanmar’s military leaders to allow unimpeded access to more than 3 million people needing “life-saving” aid “because of growing conflict and insecurity, COVID-19 and a failing economy.”
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