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Based on data for actual and approved Foreign Direct Investment (FDI) from 1989-2011, this paper explores the major trends in FDI in Myanmar, focusing on changes over time in the source and sector of investment. It argues that over the last decade Myanmar's inward FDI has become heavily concentrated in the extractive and power sectors, while investment in manufacturing, services and other secondary and tertiary sectors has been almost non-existent. This is mostly the result of a poor investment climate, including import and export regulations, a weak judicial system, currency controls and weak property rights. The paper shows that China, Hong Kong, South Korea and Thailand have been the main investors in Myanmar, while Singapore, India and Western countries invested little in the 2000s. This divergence is driven partly by the differing investment patterns of the source countries, yet also reflects commercial and geopolitical realities, sanctions and concerns over energy security. The paper then examines whether and how FDI can lead to economic development in Myanmar, and, closes by discussing the importance of recent political and economic reforms for rebalancing Myanmar's FDI. [ABSTRACT FROM AUTHOR]

In the context of its 40th anniversary, this article analyses how the Association of Southeast Asian Nations (ASEAN) has sought to deal with the problem of drug production, trafficking and consumption in Southeast Asia. Reviewing more than three decades of cooperation, it asks whether an international regime against the illicit trafficking and abuse of drugs has been established in the region under the auspices of ASEAN. In particular, the paper discusses the ASEAN and China Cooperative Operations in Response to Dangerous Drugs (ACCORD) as an attempt to create a framework of multilateral cooperation. It argues however that it is still premature today to characterise existing regional consultations as a working anti-drug regime. The existing cooperative structure has remained a loose forum for information sharing despite the strong Chinese involvement that has deepened consultations since the late 1990s. [ABSTRACT FROM AUTHOR]

Despite the position of the United States as de facto global hegemon, China is a rising power in the world. As Chinese power grows, the projection of Chinese influence will be felt most acutely in Southeast Asia. Whether to accommodate, contain or resist China will depend on future developments that none can foresee, including Chinese ambitions, the policies of other international players (the U.S., Japan), and the cohesion or fragility of the Association of Southeast Asia Nations (ASEAN). This paper argues that in deciding how best to deal with China, two factors that will influence the countries of Southeast Asia are their own long histories of bilateral relations with China and their own differing conceptions of how foreign relations should be conducted. This is to argue that history and culture are central to any understanding of the likely future shape of China-Southeast Asia relations. Only by taking history and culture into account will analysts be in a position to predict how the mainland and maritime states of Southeast Asia are likely to respond to a more powerful, confident and assertive China. [ABSTRACT FROM AUTHOR]