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Away from
the devastation wrought by hurricanes and
earthquakes in the Caribbean and Mexico last
week, a disaster that was entirely man-made was
unfolding in Southeast Asia. Over 160,000 of
Myanmar’s Rohingya ethnic minority have sought
refuge in Bangladesh bringing with them stories
of ethnic cleansing and violent
persecution.
The events in Myanmar repeat
a pattern witnessed in developing countries all
over the world. Ethnic or religious minorities
are scapegoated and old scores are settled at
a
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terrible human cost. We
have seen it too many times in places like Sri
Lanka, Rwanda and the Balkans as well as others
too numerous to list. The situation in Myanmar
appears to have been simmering for a long
period, since colonial days in fact. What is
additionally disturbing in this case is the
reaction of those from whom more ought to be
expected.
Aung San Suu Kyi, the Nobel
peace prize winner and de facto leader of
Myanmar, has been surprisingly weak on the
plight of this particular section of the
population. She has even gone so far as to
dismiss reports of atrocities as fake news.
Prime Minister Modi of India also signally
failed to exert any pressure on the Myanmar
government to take a more humanitarian approach
when visiting the country last week.
I
have spoken a good deal about China’s growing
responsibility to exert a positive international
influence. The same expectations should apply to
India with its growing political and economic
authority. Its reaction to the Myanmar situation
indicates a reluctance to take a moral lead in
its region and is not the mark of a responsible
regional power.
Guy Dunn
P.S.
Here are some articles I found on EMIS last week
relating to this
issue.
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ARGENTINA BANKING
SECTOR REPORT
2017/2018
Since experiencing one
of its worst periods during the 2001-2002
economic crisis, Argentina’s banking sector has
been recovering. In 2012-2016, loans and
deposits grew at CAGRs of 28.7% and 33.8%,
respectively. In 2016 alone, the sector’s
deposit base expanded by 45.2% y/y, its
strongest growth in the last five years, while
the banks’ loan portfolio grew by
27.1%.
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CEIC DATA POINT OF
THE WEEK
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CEIC
Data is a sister company of EMIS and
part of the Euromoney Data
Division
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CHINA MANUFACTURING
PMI RISES AGAIN China's manufacturing
and non-manufacturing PMI moved oppositely in
Aug, 2017, of which manufacturing PMI climbed
0.3 ppt to 51.7%, reaching its second highest
level this
year.
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Below are
the most read articles in the past week on EMIS
Perspectives, our daily blog of emerging market
news and insights.
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INDIA TO SIGN AN
OPEN-SKY MOU WITH
JAPAN India and Japan are set
to conclude their open-sky pact, which will
enable airlines from both countries to operate
as many flights as possible, depending on the
availability of slots.
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THAILAND SET TO
LAUNCH STANDARDIZED QR CODE PAYMENT
SYSTEM The Bank of Thailandhas
worked together with leading financial
institutions in the country to launch a
standardized QR code payment system in the
fourth quarter of 2017 as digital payment
continues to gain popularity among consumers
over the recent years.
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