Yangon is suddenly a city of phablets. Nowhere in Asia, let alone Europe, have I seen so many supersized smartphones in public spaces, and with such egalitarian appeal: Pavement vendors selling early 20th century British guides to English grammar seem as transfixed by them as Yangon's smart set playing "Pokemon Go."

For many in an isolated country, a 4G smartphone is their first taste of modern consumer luxury. Its proliferation, in a country where a SIM card once cost more than $2,000, seems an example of "leapfrog development," in which economically backward countries take quick shortcuts to modernization and urbanization.

Of course, in Myanmar as elsewhere, inexpensive Chinese brands such as Xiaomi, Vivo and Oppo make it easier to project an appearance of affluence and entrepreneurial dynamism. A poster dubiously advertising, "Rolex — Opening Soon" at a construction site in Yangon's crumbling downtown is a good reminder of the limitations of a consumer revolution in an overwhelmingly poor country.