Burma's bumpy ride
Halting steps toward a semi-free market serve to entrench cronyism and privileges of existing elites.
RANGOON : The ancient-looking wooden paddle boats that swarm around the sole gleaming yacht at Rangoon Port serve as a reminder that Burma's recent privatisation drive has brought both economic benefits and the entrenchment of what was already rampant cronyism.
Tay Za’s yacht sits moored at Botataung Port in Rangoon.
While the road adjacent to Botataung Port is upgraded by private companies such as Asia World, which owns a stake in a section of Rangoon port, the luxury yacht signifies a gulf in wealth that privatisation looks set to perpetuate.
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About the author
- Writer: Clive Parker
