Myanmar losing billions to jade black market

China's jade obsession fuels multi-billion dollar black market, as officials linked to smuggling trade.

    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


    YOU MIGHT ALSO LIKE

    All Hail The Algorithm

    All Hail The Algorithm

    A five-part series exploring the impact of algorithms on our everyday lives.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    China will determine the future of Venezuela

    China will determine the future of Venezuela

    There are a number of reasons why Beijing continues to back Maduro's government despite suffering financial losses.