Ne Win

Ne Win announced the 'Burmese Way to Socialism,' a nationalist and isolationist economic policy. The government nationalized industries, banks, and foreign trade, expelled many foreigners, and pursued autarky, leading to economic decline and international isolation.

General Ne Win led a military coup that overthrew the civilian government of Prime Minister U Nu. He established the Revolutionary Council, suspended the constitution, and imposed military rule, beginning a 26-year period of authoritarian control over Burma.

Ne Win demonetized 80% of Burma's currency without warning, invalidating banknotes of certain denominations. The move wiped out savings of ordinary citizens, caused economic chaos, and was widely seen as a superstitious act based on Ne Win's belief in numerology.

Amid massive pro-democracy protests (8888 Uprising), Ne Win resigned as chairman of the Burma Socialist Programme Party. His resignation did not end military rule, as a new junta took over, but it marked the end of his direct control after 26 years.