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To dodge trade war, Chinese exporters shift production to low-cost nations

GUANGZHOU, China/YANGON (Reuters) – Pressured by a labor crunch and rising wages in China, Shu Ke’an, whose company supplies bulletproof vests, rifle bags and other tactical gear to the United States, first considered shifting some production to Southeast Asia a few years ago, but nothing came of it. When trade tensions flared into a tariff […]

Myanmar on the radar as investors shift funds from China

Myanmar is well-positioned to benefit from the flight of capital to the Asean region as the trade war between China and the US plays out, officials said. ‘’Myanmar is one of the targeted countries for businesses planning to shift out of China to avoid the fallout from the trade war,” Li Fuquan, the chair of […]

Myanmar backs ‘strategic partner’ Huawei despite US ban

Amid the ongoing trade war between the United States and China that recently intensified with Washington’s ban on Huawei Technologies, Myanmar has publicly announced its stance on the issue at the event entitled, “Myanmar Indoor Coverage Digitalisation Summit 2019” on Friday. Soe Naing, deputy director general of the Posts and Telecommunications Department, said Myanmar considers […]

Huawei Myanmar calls for govt to facilitate change

DESPITE being caught in the trade war between China and the United States, Chinese giant Huawei Technologies Co remains confident of continued healthy growth in Myanmar thanks to the rising demand from locals, Liman Zhang, chief executive of Huawei Myanmar, said. In an interview with The Nation, Zhang said the firm stands ready to enjoy […]

Can mobile banking overcome Myanmar’s trust issues?

It is 5pm on a Wednesday and Yangon’s streets are at a near standstill. Sunset comes early to this city of 7.36 million. Thankfully, since it is winter, the weather is cooler and drier than the rest of the year. So as dusk descends over some of the unruliest traffic in Asia – there are […]

Ordinary folk feel the pinch from tumbling kyat

The downward spiral of the kyat against the US dollar has taken its toll on the prices that people have to pay for everyday items like rice, fish, meat, and vegetables. Housewives complain that even the prices of salt, fish paste and other condiments that are staples for ordinary folk have increased. The prices of […]

Business Community Counters Gov’t Reasons for Kyat Depreciation

While Myanmar’s government has blamed currency manipulation and the trade war between the United States and China for the record depreciation of the kyat against US dollar, business circles are pointing out the Myanmar government’s mismanagement and the Central Bank of Myanmar’s poor performance. The kyat-dollar exchange rate has increased steeply from 1,344 kyats per […]