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China is more helpful to Myanmar (2)

(People's Daily Online)

08:06, August 20, 2012

"Young people in the village used to work in Thailand while many of them do import and export business along China-Myanmar border, in hopes of making a fortune,” said an over 60-year-old Shan villager.

A store owner in Kyaukme said that China and Myanmar share a long border, which is a natural favorable condition for foreign trade between two countries. Many goods in Myanmar come from China because Chinese goods are affordable and leave dealers enough room for profits.

The United States is far away while China is quite close. “China is more helpful to Myanmar,” the store owner said.

Investment in manufacturing industry deepen the complementary of two economies

China and Myanmar have close trade and investment ties, but trade and investment mainly focus on resource-intensive industries such as jade mining and processing, timber and other primary raw materials. This cooperation model is rather fragile.

Northern Myanmar near the Chinese border has complex ethnic problems. China-Myanmar border trade faces great risks given the unstable situation in northern Myanmar.

Analysts believe that Chinese investment has limited influence over Myanmar’s economy as resource-based trade can only produce limited impetus to upstream and downstream industries.

Many businessmen in Myanmar believe that Chinese investment in Myanmar’s manufacturing and agricultural sectors has great potential. Many labor-intensive Chinese enterprises, including textile manufacturers and agricultural companies, have sent representatives to conduct market investigations in Myanmar. These Chinese enterprises will soon invest in Myanmar as the country further improves its investment environment, which will make the two economies more complementary.

Read the Chinese version: 能帮助缅甸的还是中国, source: People's Daily, author: Yu Jinghao, Sun Guangyong

【1】 【2】

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