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The country began undertaking political reforms in 2011 after the country's military junta handed power to a nominally civilian government. But new freedoms of speech and assembly have provided opportunities for some groups to disseminate radical views, sparking violence between religious and ethnic groups. Buddhist-Muslim tensions are particularly high. Still, foreign investors have been rushing in. In April, Ford Motor Co. announced its entry into Myanmar, saying it plans to open its first sales and service showroom for new vehicles by August. The U.S. automaker joins PepsiCo, Coca-Cola, GE, Caterpillar and Danish brewer Carlsberg, which have all signed distribution deals in Myanmar. Longtime ally China has been one of Myanmar's biggest international backers for years, pouring billions of dollars into the extraction of gems, timber, oil and gas. Thailand has also been a significant investor. Japan, meanwhile, is stepping up its investment and has canceled billions in old debt and is doling out new low-interest loans. "For much of the 20th century, Myanmar largely missed out on the spectacular growth seen across most of the global economy and most recently in its Asian peers," Richard Dobbs, a McKinsey director, said in the report. "It now has the potential to be one of the fastest-growing economies in emerging Asia."
[Associated
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