Southeast Asia has survived devastating financial crises, armed conflicts, and countless natural disasters. And at the same time, she was able to take advantage of the opportunities created by globalization to build competitive economies that play a vital role in global supply chains, thereby saving millions of people from poverty.

In 2017 and 2018, economic growth rates in more than half of the countries of the world increased. The growth rates of the economies of developed countries over these two years have consistently been 2.2 percent, and in many countries, these rates were close to their maximum potential values, while the unemployment rate in some developed countries fell to record low levels. Among developing countries, relatively high growth rates continued in the regions of East and South Asia, in which economic growth was 5.8 and 5.6 percent, respectively, in 2018. The gradual recovery of the economies of many commodity-exporting countries, in particular, fuel exporters, continues, although these countries continue to experience price volatility. The sharp drop in market prices for commodities that occurred in 2014/15 also continues to affect the balance of budgets and the balance of payments and is the cause of continuing debt.

In 2018, the global economic growth rate remained stable at 3.1 percent, as the slowdown in several economically large countries was offset by their acceleration in the United States of America due to the adoption of fiscal measures. It is expected that in 2019 the world economy will grow at a good rate of 3 percent, but signs that growth may have peaked are becoming more pronounced. Since the beginning of 2018, growth in industrial production and trade in goods around the world has been gradually slowing down, especially in the trade-dependent sectors of the means of production and intermediate products. Leading indicators indicate that in 2019 due to the aggravation of trade disputes, an increase in the risk of financial difficulties and instability, and in the context of geopolitical tensions, a certain weakening of economic growth in many countries will occur. At the same time, in some developed countries, a rather high level of capacity utilization is already observed, which may affect growth in the short term.

As the world is stepping into the Fourth Industrial Revolution built upon faster and better innovations that will fundamentally transform the way we live, involvement from all stakeholders is crucial to the emerging potential to improve the economy and the quality of life for worldwide populations.

In Myanmar, SKYBIT is the first internet platform that transcends long-standing payment barriers between Myanmar and the rest of the world through the use of blockchain technology. Individuals, companies, startups, and aid organizations can offer goods, services, raise funds, and campaign for donation to the entire world through the SKYBIT Payment Processor, and the Ad Pages platform or Payment Button.