politics

Abe unveils major aid and loan package for Myanmar

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money game for Japan, nothing to lose for China, India and Thailand, they will continue to enjoy good business as usual.

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Funny cannot spend money on rehousing Japans Displaced people,.An Clean up its Nuclear problems, yet can spend Millions on another country . Why not Move all citizens to Myanmar and Have no Nuclear problems .No Radiation problems etc. The government is supposed to be broke so where is the Money to come from .

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My advice to those Mynamar people, there is no easy money fallen from the sky! They were playing a very high risky game with the whole country were put in stakes!

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Charity starts at home...

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The move was to stop China's increasing presence in Myanmar. As for how they came up with the money, it's part of Abe's plan to deflate the yen, it was printed and backed by bonds. This move puts more yen on the market and thus reduces the value. Remember they also forgave 176.1 billion, also deflating the value. As for why Japan can't rebuild, Japan wants to do this themselves and refuses to contract foreign companies in the clean up process. Part of this is pride, the other part are the questions the foreign companies will ask and expect answers for who has the final say on waste management, compensation, and protection from lawsuits. As housing is contingent on the cleanup, not much can happen until that is done.

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@isoducky: excellent analysis you wrote. You are an economist, aren't you?

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Japan has written off many bad loans or non performing loans of Myanmar before. Myanmar has no hope for repaying that misused loans either. Most of the development loans and aids have been ended inside the pockets of corrupted officials. Myanmar has never honoured the obligation of debt.

It has been spoiled by West for interest of natural resources and strategic reason. No nation has been spoiled like Myanmar. That corrupted government of Myanmar has entitlement mentality too.

Borrowing money to Greece or Cyprus is safer than Myanmar. At least Japan will get some of their loans. Borrowing more loans to Myanmar likes let the bird fly away from cage. It will never come back.

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