A week after a military coup there, Myanmar is seeing nationwide protests. The Chinese state news agency, Xinhua, has described the military's action as a "major cabinet reshuffle.". Copyright © 2021 National Herald. The EU, which is Myanmar’s third-biggest trading partner, could potentially deal a major blow to Myanmar businesses by removing the special trade preferences they enjoy. "The development of a competitive low-end manufacturing sector has traditionally been the route out of poverty for low-income countries in Asia, so throttling textiles would have lasting repercussions," Leather said. But investor interest cooled down somewhat after 2016 as the reform momentum slowed and the military attracted accusations of genocide against Rohingya Muslims. Myanmar: US calls on China to hold junta accountable, Myanmar: Germany urges citizens to leave as fears grow over instability, Myanmar coup: ASEAN split over the way forward, Myanmar: Thousands take to streets as others flee, Myanmar: US President Biden calls bloodshed "absolutely outrageous", Myanmar: Over 100 killed in deadliest day since military coup, India pushes ahead with Rohingya deportation amid Myanmar crackdown, Thousands flee military to Thailand-Myanmar border region, Myanmar releases hundreds of post-coup prisoners, Myanmar junta keeps internet curbs in place, blames media, Myanmar coup: Mass protests fail to attract global solidarity, EU to impose sanctions in response to Myanmar coup, From a trickle to a torrent: Myanmar struggles with an information onrush, Myanmar doctors and nurses stage dawn rally against coup, Myanmar: Security forces kill 8 protesters — local reports, Myanmar: 56 dead over weekend, 138 since coup, says UN, Myanmar: Junta imposes martial law in two Yangon districts, Myanmar: More protesters killed in weekend violence, Myanmar protests: UK tells citizens to flee, Myanmar: Court extends AP journalist's detention, agency says, Myanmar: Several protesters reported killed, Myanmar coup: Military cracks down on free speech, press freedom, Opinion: Myanmar coup conflict will escalate without talks, Myanmar police target striking railroad workers in raids, Myanmar: 2 killed after police crack down on protests, Myanmar: Thousands rally after overnight raids, US slaps export sanctions on Myanmar after protest deaths, Myanmar protesters persist following deadliest day, Myanmar: Reporter placed in chokehold as 6 journalists charged, Myanmar protesters determined to defy military with grassroots protest, Myanmar: Demonstrators shot dead in anti-coup protests. For all the latest India News, Follow India Section. Central Coast Resource Management Strategy 2020-2030. Myanmar: Who is actor Paing Takhon, arrested by the military? We use cookies to improve our service for you. Western governments have condemned the coup, with Washington threatening to slap economic sanctions on the military if power was not restored to the Suu Kyi administration. By 2030, UN-Habitat estimates that 3 billion people, about 40 per cent of the world’s population, will need access to adequate housing. Privacy Policy | a military coup leaves foreign investors rattled, Tens of thousands of people have hit the streets against the coup, Western governments have condemned the coup, military attracted accusations of genocide against Rohingya Muslims. Is Germany's health system stretched to its limits? The automotive industry can prepare for this demand, while also decarbonising to contribute to limiting global warming to less than 1.5 degree Celsius, by achieving circularity through the lens of energy, water, waste, materials, vehicle lifetime and use. Analysts agree that economic repercussions could be significant if both the EU and the US tightened restrictions on Myanmar. Fenner said the political upheaval would jeopardize the $3.5 billion (€2.9 billion) in foreign investment proposals that were waiting to be approved, with "projects likely to be delayed at best, or possible canceled.". Tens of thousands of people have hit the streets against the coup in the largest protests in the country in more than a decade. A broad coalition of doctors, teachers and blue-collar workers is demanding the release of Aung San Suu Kyi and the restoration of democracy. Police have said they are looking for the two attackers. "I think what we are going to see is a lot of Western countries going 'no way.'". Foreign investors looking to explore the country's untapped potential pumped billions of dollars into its oil and gas, power, manufacturing, transport and communication sectors. Myanmar's military coup and widespread protests against it have rattled foreign investors. The people of Myanmar have huge expectations from the United Nations and the international community following the Feb. 1 coup, with many calling for sanctions and some urging the U.N. to send peacekeepers to stop the killings of peaceful protesters seeking a return to democracy, the top U.N. official in the country said Friday. Analysts say that any tough countermeasures from the US or the EU would give Beijing an opportunity to build up its influence in Myanmar, which already features prominently in China's Belt Road Initiative. Legal notice | Key national priorities include the shift towards a low carbon circular economy and improvement in waste reduction, reuse and recycle for creating new jobs and increasing resource efficiency. Singapore has been the biggest investor in the country, accounting for more than 40% of total FDI from 2011-2020. Contact Asian countries dwarf both the EU and the US when it comes to investing in Myanmar. Myanmar's economy, already reeling from COVID-19 restrictions, is in for more pain as a military coup leaves foreign investors rattled, putting at risk billions of dollars in investments. Digital trade & the digital economy; International tourism engagement; Trade and investment data, information and publications ... 2030 Agenda for Sustainable Development. In order to address global warming, the adoption of circular economy practices combined with accelerated electrification in the automotive industry has the potential to reduce carbon emissions by up to 75 per cent by 2030, a new Accenture-World Economic Forum (WEF) report said on Tuesday. The circular car is now on its way to becoming a core component of the automotive future. "If the EU goes ahead and takes away the trade preferences it offers Myanmar, it would basically kind of cut off its exports of textiles and apparels which have been booming and now account for a decent chunk of the economy," Leather told DW. The primary barriers to circularity in the automotive industry are related to customers and use patterns, business models, production methods and technology, and regulatory hurdles. Council’s Resource Management Strategy 2020-2030 has been developed from extensive community feedback and reflects a modern community’s needs and aspirations for a sustainable circular economy. Myanmar's military seized control of the country earlier this month, claiming that elections held in November, which handed a landslide victory to Aung San Suu Kyi's National League for Democracy, were rigged. Acting resident and humanitarian coordinator Andrew … Send Facebook Twitter reddit EMail Facebook Messenger Web Whatsapp Web Telegram linkedin. According to an Accenture analysis, mobility demand — in terms of both passenger miles and predicted vehicle stock — is expected to increase 70 per cent globally in the next decade. In order to address global warming, the adoption of circular economy practices combined with accelerated electrification in the automotive industry has the potential to reduce carbon emissions by up to 75 per cent by 2030, a new Accenture-World Economic Forum (WEF) report said on Tuesday. China, Myanmar's biggest export market, comes next with a more than a 20% share. The expected drop in FDI inflows will hurt Myanmar's output given that investment has been a major engine of growth in the country, accounting for more than a third of gross domestic product (GDP) in 2019. "Now with the coup, the view would be: basket case, banana republic," Yangon-based analyst David Mathieson told the AFP news agency. China, which has defended Myanmar's military dictatorship in the past, has yet to condemn the coup, only calling on all sides in the country to "resolve differences." "Circular cars will be a key building block to serve the growing mobility demand, while, at the same time, reducing resource consumption and carbon emissions to a level that is truly sustainable," said Axel Schmidt, a senior managing director at Accenture who leads its Automotive industry group globally. "China will see that Myanmar's opening up to the West has pretty much come to an end. This translates into a demand for 96,000 new affordable and accessible housing units every day. Why is Japan not taking a firm stand against Myanmar junta? Myanmar, also called Burma, country, located in the western portion of mainland Southeast Asia.In 1989 the country’s official English name, which it had held since 1885, was changed from the Union of Burma to the Union of Myanmar; in the Burmese language the country has been known as Myanma (or, more precisely, Mranma Prañ) since the 13th century. The coronavirus pandemic led to a further slump in foreign direct investment (FDI). Myanmar's economy, already reeling from COVID-19 restrictions, is in for more pain as a military coup leaves foreign investors rattled, putting at risk billions of dollars in investments. Vietnam is a member of Asia-Pacific Economic Cooperation, Association of Southeast Asian Nations and the World Trade Organization. Experts say the coup will ultimately leave Myanmar weaker and more beholden to China. Dublin, March 10, 2021 (GLOBE NEWSWIRE) -- The "Homozygous Familial Hypercholesterolemia - Epidemiology Forecast to 2030" report has been added to ResearchAndMarkets.com's offering. All rights reserved. The move can also help cut non-circular resource consumption by up to 80 per cent per mile by 2030. Demonstrators in Myanmar's biggest city came out Monday night for their first mass protests in defiance of an 8 p.m. curfew, seeking to show support for an estimated 200 students trapped by security forces in a small area of one neighborhood. It would curtail most foreign investments and make trade with partners other than China hard," Gareth Leather, senior Asia economist at Capital Economics, said but added that he did not expect Washington to go that far. © 2021 Deutsche Welle | "We do expect [the coup] to weaken consumer and business confidence, with heightened political uncertainty also set to dampen our projected recovery in investment and economic growth this year," Sian Fenner, lead Asia economist at Oxford Economics, said in a note to clients. Garment and textile exports to the EU have increased twentyfold since Myanmar was granted special market access under the EU’s "everything-but-arms" scheme in 2013 and now are worth close to 3% of Myanmar’s GDP, he said. A tough response from the EU and the US risks pushing the country further into China's economic orbit. A data revolution is taking place in almost every part of our economy and society. The country's democratic experiment has failed, says Rodion Ebbighausen. And their only way forward really is going to be having closer ties with China," Leather said. Myanmar Anti-coup protesters hold makeshift shields during a demonstration in Yangon, Myanmar Tuesday, March 9, 2021. Russian security service agents likely targeted Roman Anin, the editor-in-chief of the Istories news outlet, for his investigative reporting on a high-profile ally of Russian President Vladimir Putin. The economy of Vietnam is a socialist-oriented market economy, which is the 36th-largest in the world as measured by nominal gross domestic product (GDP) and 23rd-largest in the world as measured by purchasing power parity (PPP). "Companies across the industry must consider how technology and business levers can maximize the resource value of the car, minimize life-cycle emissions and unlock new opportunities along the value chain," said Christoph Wolff, global head of mobility and member of the executive committee at the WEF. "If the US were to use its nuclear option, as it were, and cut off Myanmar completely from its financial sector, then the repercussions will be quite significant. Fenner expects Myanmar's GDP to grow at around 2% in 2021, down from his 4.1% forecast before the coup. You can find more information in our data protection declaration. Myanmar's brief experiment with democracy has ended, jeopardizing billions of dollars in foreign investments. "The automotive industry along with the mobility sector will have to profoundly change if it is to provide for the forecasted 2.5x fold increase in road transport demand by 2050 at net-zero carbon emissions", said Thomas Deloison, director of mobility, World Business Council for Sustainable Development. The government has condemned the killing of Giorgos Karaivaz, who was a well-respected veteran crime journalist for Star TV. 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