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Myanmar Crisis

Five red flags signaling Myanmar coup's economic damage

Weak business activity bodes ill for nascent market and investors like Singapore

Factory workers rally against the coup in Yangon in February: The turmoil slammed the brakes on the country's manufacturing sector.   © Reuters

SINGAPORE -- The coup that plunged Myanmar into turmoil on Feb. 1 has had a swift and significant impact on the economy, statistics indicate -- setting back a country that was just beginning to show its potential.

Myanmar remains one of the world's least developed economies, as classified by the United Nations. But its gradual transition to democracy raised hopes that it would soon rise like many of its Southeast Asian peers. From Singapore, its largest source of direct investment, to Japan, which backed a major industrial zone, international players had been betting on the country's future.

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