Downsides of Burma's Growths..

Well, would you look at that....Burma Burma Burma...the word on everyone's lips these days. With the recent turns of events, Burma is a hot spot for investors right now and everyone and their mothers are hoping to strike gold there. However, in the race to get rich, many disgruntled Burmese citizens are shoved off the road and left behind. Example, you said? Well, my dear, contrary to Burma's President Thein Sein's lauded "NO" to China over the Myitsone Dam Project a year ago, private news outlet are reporting that workers are still going ahead restarting the construction. The Myitsone Dam project is meant to supply electricity to China for 50 years after which ownership will be transferred to Burma free of charge. And Burmese government was to get $54 billions during that 50 years. How about the thousands of Kachins in the area forcibly relocated? They get nada. In fact, their lands were forcibly taken away. No farms = no earnings. No slice from the $54 billion pie.

As another example, copper mining in Letpadaung has led to environmental destruction and forced relocation and illegal confiscation of lands. The villagers in Letpadaung comes out the losers. And then, there are the lawyers in Rangoon protesting over the sale of courthouses that have been there since colonial time to hotel businessmen. And of course, there are unscrupulous investment firms cheating some Burmese out of their money. I only expect more protests as many will be left behind in the dust as others speed off in their recently purchased BMW. As Burma grows, more buildings and factories will be built. Growth is a good thing. However, as of now, Burma doesn't have environmental laws to protect the beautiful land. Burma doesn't have laws or policy to protect the interest of the people, or at least they're not enforcing the law. As we all look for our gold, I only hope that we do it fairly.