China’s New Economic Priorities Offer ‘Exit Strategy’ on Myitsone Dam
New financial constraints imposed by Beijing to deal with China’s bloated economy could lead to the controversial Myitsone hydroelectric dam project in northern Burma being quietly abandoned.
The Naypyidaw government has been under pressure from China Power Investment Corporation (CPI) to lift a suspension of construction imposed in 2011 by President Thein Sein, but new Chinese financial priorities could deal the dam a death blow, analysts suggest.
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Analyst Yun Sun of the Washington-based Stimson Center said in February that since the suspension of the Myitsone dam development, China had “suspended almost all new major investment in [Burma].”
“Beijing needs to reconsider whether it is wise to let the destiny of one commercial project sway and affect the future of broader Sino-Myanmar bilateral relations,” she wrote.
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