Thant Myint-U, U Thant's grandson (and I seem to remember an elementary school classmate of mine in the Riverdale section of the Bronx, while his father served as Secretary-General),
published an article in the London Review of Books last February that still sounds worth consideration by the Western powers currently imposing sanctions on Burma:
Some people still argue that trade and investment sanctions against the Burmese government are the only way to push the army leadership into talking with Aung San Suu Kyi. But the sanctions argument is deeply flawed. First, it assumes a regime very different from the one that actually exists. That is, it assumes a government that is committed to rejoining the world economy, that sees clearly the benefits of trade and investment or is in some way sensitive to the welfare of ordinary people. True, there are some in the army who like the idea of trade and investment and care about popular welfare, and for them sanctions might constitute a sort of pressure. But many in the military don’t care. For them, national security, as they see it, is everything. Compromise might be possible on other issues, but if the choice is between political suicide and interacting with an outside world they fundamentally distrust, then there is no debate. Isolation is their default condition: not ideal, but comfortable all the same.
Second, sanctions really only mean Western sanctions. In the years since 1988, Burmese trade with China and several other neighbouring countries has grown considerably, and tens of billions of dollars’ worth of natural gas have been discovered offshore. To believe that China would impose sanctions and cut off their access to Burma’s energy supplies in order to push the country towards democracy is naive. Sanctions going beyond those already in place would mean in effect increased influence for China; not something likely to lead to democratic change.
Third, imagine for a moment that somehow, miraculously, extremely tight sanctions were possible – involving China, India and Thailand – and that these brought the government to its knees, without a dollar or renminbi left to pay for vital imports. While there is a possibility that reasonable heads would prevail, there is also a very good chance that the army leadership would stay in their Führerbunker until the bitter end, as the country collapsed into anarchy around them. Many of those who support sanctions hope that greater outside pressure would lead to disagreements within the army. Nothing could be more dangerous: the country could easily fall apart into dozens of competing military factions, insurgent armies and drug warlord militias. If that happened, all the troops in Iraq and Afghanistan wouldn’t be enough to put Burma back together; it would be a disaster for Asia.
The problem with sanctions is best illustrated by the opportunity that was lost in the early 1990s, when a new generation of generals, eager for change, launched a series of reforms and opened up the economy to the outside world. Hundreds of foreign companies set up shop. Rangoon was transformed, with new hotels, shopping centres and official buildings, traffic jams on previously empty roads, and the first real influx of tourists in years. Satellite dishes went up everywhere. But thanks to boycotts and then, in the later 1990s, more formal sanctions (as well as continued government mismanagement of the economy), Western firms began to pull out, leaving Burma in limbo: with more than enough regional trade to stay afloat, but nothing like the momentum to begin changing society. If, over the last fifteen years, there had been aid and investment (as there has been in Vietnam), rather than a half-hearted ‘regime-change’ strategy from the West, there could have been real economic growth and social change. The isolation on which the regime depends would have diminished and it would have become increasingly clear to the officer corps that proper government is too complex for the army to manage. And this in turn would have created a better situation for Burma’s democrats and more leverage for Western governments. As it is, Western leverage is close to zero. Focusing on political change at the top is not the answer.
This is not to say that Burma shouldn’t be a democracy, or that the Western supporters of democracy and human rights in Burma should give up. Far from it. Liberal democracy is the only sustainable form of government for a country as culturally and ethnically diverse as Burma, but we need to start from the way things are. Per capita aid to Burma is less than a tenth of per capita aid to Vietnam and Cambodia: this should not be acceptable. Serious diplomacy that includes both the Burmese government and its neighbours should have priority over a new round of condemnation.
The bloom appears to be coming off Georgia's "Rose Revolution," 
with Prime Minister Gordon Brown
with former PM Tony Blair
and with Baroness Thatcher, of Kesteven.