Abstract

International media have Myanmar's November key election under their spotlight. Meanwhile the open-market frenzy is changing Yangon, the financial capital of Myanmar. Caught in an inflation spiral and battleground between Asian and Western investors, the city is rising as a rich megalopolis, one of the six most expensive cities in South-East Asia. Asian Development Bank assesses inflation over 8.4% as a consequence of real estate prices skyrocketing. The city's financial businesses are thriving, making it appealing for investors and venture capitals. The future will bring new business powerhouses, but it will deepen the income gap between the wealthy and the poor, and it will ignite further ethnic struggles in the country.