Myanmar losing billions to jade black market
China’s jade obsession fuels multi-billion dollar black market, as officials linked to smuggling trade.
Published On 27 Nov 2014
Illegal trade in Myanmar’s jade stones is costing the country billions of dollars anually.
Official revenue from jade exports from 2011 to 2014 was $1.3bn, but analysts say trade in 2011 alone was $8bn, suggesting most of the revenue is siphoned off by corrupt officials to fuel Chinese demand.
In an exclusive report, a senior government official admits his involvement in the lucrative smuggling trade.
Al Jazeera’s Chan Tau Chao reports from Northern Myanmar.
Source: Al Jazeera