Revolutionary Council of the Union of Burma

In March 1962, Ne Win led a military coup and established a Revolutionary Council to govern Burma (now Myanmar). This council, composed of senior military officers, suspended the existing constitution and aimed to create a socialist state. Under Ne Win's leadership, a one-party system, the Burma Socialist Programme Party (BSPP), was implemented. Commerce and industry were nationalized, leading to a command economy that ultimately hindered economic growth. A new constitution was adopted in 1974, with Ne Win becoming president. Despite moderate economic growth and some foreign aid, trade deficits and rising debt became significant issues by the early 1980s, prompting reforms to liberalize foreign trade and encourage investment. Insurgencies persisted throughout this period.12