Fri 22 Jul 2016
Filed under: International,Opinion
In 1988 the military junta in Burma brutally cracked down on a wave of peaceful uprisings. From then on, the country was under the iron fist of a military dictatorship, which repressed all democratic opposition, violated human rights, and was pervasively corrupt. In reaction, the U.S. government imposed a strict embargo against Burma. After seeing signs of political reform, in 2011 the U.S. government slowly began lifting sanctions against Burma, including through constructing a “carrot and stick” regulatory framework. First, targeted sanctions were imposed against certain entities and individuals directly involved in human rights abuses. Second, a General License was issued to allow U.S. investments in Burma so long as investors complied with reporting requirements. Specifically, all businesses that invested over $500,000 had to submit reports to the Department of State detailing their human rights policies and risk management mechanisms.