Wednesday, January 12, 2011

Post Myanmar thoughts

Myanmar is easily one of the most strange and weird places I've been in my whole life.

I have many many thoughts and feelings about this country and I don't think I am able to blog everything. I will try to sum up in a few bullets (sorry for the economics jargons):

  • Classical classroom example of resources curse: richly endowed with teak, gold, jade, oil, gas etc and yet living conditions is ...... Apparently the national income does NOT trickle down to everyone and the income distribution is extremely unequal
  • TOTALLY corrupted and self serving junta government -> a very screwed up junta government that does not want their citizens to be educated. I think they are only second to North Korea. To think that education is not subsidized but instead "taxed" in the country! Apparently having too much knowledge is no good as the people might rebel, so its better to keep its citizens as ignorant as possible.
  • All lucrative industries as mentioned above are instantly nationalized and monoplized by the government. They are no different from thieves.
  • Foreigners are required to pay 30SGD for visa and 10USD for airport departure tax -> all these money goes into the junta's coffers. Fuck man!
  • Corruption and resource curse usually go hand in hand. :(
  • Totally run down infrastructures -> apparently the government does not give a damn about infrastructure development. Power cuts are so frequent ( I heard that this corrupted government is rationing power to sell excess power to neighbouring countries like China). Roadworks and buildings in the main cities all seemed to be inherited from the 2nd World War Era (Not mentioning the non cities... Siggh)
  • Rampant inflation -> few years back, the largest bill was 1000Kyats (their currency) However, these 2 years, a new 5000kyat note is released. This simply means that those military idiots have been running the printing press for like crazy! Their currency is as good as toilet paper!
  • Not dual, but three different kind of exchange rates! (even more amazing then China's dualistic exchange rate in its reform era)
  • The money changers are damn anal about the US bills presented to them for exchange-> no water mark, tear, stains etc. HOWEVER, their local currency is widely accepted in a weird sense! -> I saw some kyats used till scotchtapes have been taped rapidly all over them etc. Apparently, the cost of printing small domination kyats have been so high that lousy torn small denomination kyats are OKAY to be used. But not USD?! WHY?
  • The junta rules the country with an iron fist -> any people caught discontent with the government could be easily thrown into jail and slave laboring. I have talked to many Burmese and alot of them are pissed and frustrated with the juntas, but what can they do??
  • Burmese people are generally nice ( except people in Mandalay); they will do everything to help you. I met really nice Burmese people, chat heart to heart with them and I felt so sad about them.
There are much more thoughts but well, its kind of tough to type it out in all. Perhaps anyone interested should talk to me more to find out more! Cheers and good night!

3 comments:

kang0024 said...

How do 3 different kind of exchange rates exist in one country? I really like this article, do you mind if I share it on facebook? ^^

電車长 said...

sure you can share on FB, why not?

There is a international rate - 1USD to 6Kyat(bullshit rate), a bank rate - 1USD to 450kyat(semi bullshit rate) and a black market rate - 1USD to 830Kyat(determined by market forces). The first 2 rates are deliberate over valuations of their own currency so they get to import weapons from Russia, China etc.

goldilocks said...

perhaps you can share this after-thoughts on fb like post a note? i figured the intellectual guy shared with you, hoping as an economist student you can write an article on it to reach out to a wider audience and bring revelation to Myanmar's current situation, and hopefully inspire a revolution?

p.s. paiseh, i hope i'm not intruding into your privacy. tell me if i am. haha.