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Alongside Myanmar's political reforms, tens of billions of dollars of foreign direct investment are flowing into the country. But investors chasing high returns have overwhelmed fragile, newly opened economies in the past, and Rangoon's undeveloped financial sector, fledgling commodities market, and weak governance structures all warrant caution.
For decades, Asian economies used exports to the West as a means of growth. Now, if they hope to weather the global recession, they will have to enact deep structural changes such as higher wages and increased domestic consumption.