In The Christian Science Monitor, Danna Harman reports from Rangoon:
It’s the last hour of the last day of the gems auction in Rangoon, and tired buyers are fanning themselves with worn auction catalogs, and making their final bids.
Over the past five days, jade, rubies, sapphires, and close to $150 million have passed hands here, according to the Union of Myanmar Economic Holdings Ltd., the consortium that dominates Burma’s gemstone trade and is owned by the defense ministry and a clutch of military officers.
Who’s buying? China, India, Singapore, and Thailand are scooping up Burma’s stones. US first lady Laura Bush’s efforts at a global boycott of Burma’s gems seem to have done little to reduce China’s appetite for Burmese jade to make trinkets and souvenirs to sell at the Summer Olympics.
[ Photo: A Burmese worker washes jade prior to an auction]
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