Chinese loan just a drop in the sea of sand

Khur Tai Korn Khaw
The Japan Today
August 17 , 2003

According to the 2001 export/import statistic, Burma's principle export destinations were Thailand 26.1%, United States 16.2%, India 10.2%, China 5.0% and Singapore 3.6%. The principle import sources were China 21.6%, Singapore 16.5%, Thailand 13.8%, Korea 9.0% and Malaysia 7.9%.

The Fact Sheet on Burma - compiled by the Market Information and Analysis Section, DFAT using the latest data from ABS, the IMF and various international sources -also pinpoint the inflation rate as 2001 21.1%, 2002 53.7% (a) and 2003 42.9% (b). (a) = All recent data subject to revision. (b) = EIU forecast.

The first export/import statistic shows how important China is to Burma and vice versa. The recent US sanctions have not only hurt Burma but also its trading partners and thus, it is quite normal that China is willing to play the role of a helping hand, at least to suit down the anxiety of the Burmese junta, if it is not meant to dole out the embattled neighbor. China knows too well that there are no way the Generals could survive economically, if the West is determined to ask for democratization and reconciliation as pre-conditions for the lifting of sanctions and eventual economic bailout.

To worsen the situation, which is a direct outcome of the military's monopolization of political power and lack of sophistication in modern statecraft or good governance, the ever-rising inflation rate has eaten up the meager earning of average citizens.

Thus, the 200 million dollars lone deal is just a drop of water in the sea of sand. It is not going to make a difference in anyway.