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How did the story of economic profit bring about a coup?

Bangkok [Thailand], February 6 (ANI): Myanmar’s military coup on February 1 is a story of General Min Aung Rhein’s economic interests and military unscrutinized economic domination, the Asia Times said. I reported.

“His financial interests must be considered as a motive for his coup,” activist Myanmar Justice Campaign Group said in a statement.

Citing sources, Asia Times said the coup by Aung Hlaing served to protect himself, his family, and military colleagues from research into their large-scale, lucrative financial transactions and financial holdings. I reported.

Justice of the Myanmar Campaign Group also states, “Senior General Min Aung Hlaing has ultimate authority over two Myanmar military conglomerates, the Myanmar Economic Corporation (MEC) and the Myanmar Economic Holdings Limited (MEHL).

MEC and MEHL are reportedly investing in Myanmar’s commercial port activities, container depots, jade and ruby ​​mining, real estate, construction and other profitable sectors.

Aung Pyae Sone, son of Min Aung Rhein, said, “Operating a pharmaceutical supply business, AM Mahal, selling Food and Drug Administration approvals, mediating imports, trading and marketing pharmaceuticals and medical technology. We are doing. “

“Aung Pyae Sone also owns Azura Beach Resort, which promotes its status as” the largest resort in Chaung Tha “, a seaside area in the Ayeyarwady region, which is popular with the Yangon elite.

Sky One Construction said a few years ago, “We were granted permission to build a resort on 22.22 acres of land leased by the government. Sky One Construction is owned by Aung Pyae Sone.”

“Aung Pyae Sone’s wife, Myo Yadanar Htaik, is also a board member of the Nyein Chan Pyae Sone Manufacturing Trading Company with her husband.

“Min Aung Rhein’s daughter, Kin Tiri Tet Mon, is a media production business that produces big-budget films and has exclusive contracts with Nay Toh and Ut Humon Shwe Yi.・ I own a sense, “said the statement.

The list of family holdings is long and wide. According to the 2019 UN report, MEC and MEHL “contribute to supporting Tatmadaw.” [military’s] “These military conglomerates are at high risk of contributing to or associated with violations of human rights and international humanitarian law,” he said. Coup leader Aung Rhein also enjoys strong support from other officers, including these. Those who benefited from various military business ventures said the article’s author, Richard S. Erich.

Ehrlich reported that Aung Hlaing pleased the ranks and files with the recent procurement of expensive weapons and equipment from China, Russia, Israel and others. This is a deal that traditionally allowed top generals to scoop up soaring official prices.

“Senior General Min Aung Rhein had a wealth of economic and financial incentives to stage a rebellion to stop democracy,” Erich said.

According to the Corruption Perceptions Index, Transparency International, a corruption monitoring agency, consistently ranks Myanmar as one of the most criminals in the world.

However, the strict controls enjoyed by Min Aung Rhein, his family, and his military associates, their financial activities without public oversight and accounting for their interests and transfer of ownership. The Asia Times reported that it was particularly problematic to measure.

If Min Aung Rhein retires instead of starting the February 1 coup, he will win under a landslide against the military agency under Aung San Suu Kyi’s new National League for Democracy (NLD) -led government. It would have been potentially vulnerable to financial investigations. Erich wrote in the elections last November.

International pressure on the Min Aung Rhein has increased since his military’s brutal crackdown on the Rohingya minority and was expected to target him more strongly in the coming months, Asia. The Times reported.

In addition, UN investigators said the military should be prosecuted for “genocide” if it slaughtered, raped, and expelled Rohingya from western Myanmar in 2016-17. More than 730,000 Rohingya have fled to neighboring Muslim-dominated Bangladesh, where they continue to suffer in miserable refugee camps.

In 2019, the United States imposed sanctions on Min Aung Hlaing and three other military leaders for their role in the abuse of the Rohingya.

These sanctions were under the Global Magnitsky Human Rights Accountability Act, freezing assets held by Min Aung Hlaing and three other US officers. American business relations with them have been criminalized under sanctions.

The army began with a coup d’etat in 1962 and, supported by Pucci in 1988, ruled continuously for decades. After that, Shu Qi and NLD approved the transition to quasi-democratization, which won the elections in 2015 and 2020.

Nevertheless, the military had veto power in parliament and maintained its political role through military appointees who governed the powerful Interior, Defense, and Border Ministry.

The former military junta has eroded the economy from one of the most prosperous countries in the region to the current grotesque inequality exacerbated by decades of international sanctions.

Thus, the coup d’etat’s move by Aung Rhein fully reveals how unscrupulous economic control of finance and the military led to the development of events in Myanmar. (ANI)

How did the story of economic profit bring about a coup?

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