Tuesday, October 16

More examples of the innate stupidity of economic sanctions

So Japan and EU are going to launch further sanctions on Burma. The idea being that it will hurt the regime. You already know my opinion about sanctions. Let's see

1. Cancel a Y552m ($4.7m) grant for a business education centre

2. EU will cease to import Burmese wood products, high-value metals and minerals and precious stones. It will also impose export and investment bans on these sectors.

Also quoting from the FT report, EU sanctions affect only a small part of Burmese trade, amounting to just 1.5 per cent of Burmese exports

So they will impose sanctions on a business education centre and stuff that will amount to 1.5% of Burmese exports. And this is supposed to make the Burmese Generals shiver? Why?

There is also another question. If the United Nations is allowing a debate on Burma for internal disturbances and riots, will the United Nations also allow a debate next time there is a riot in the suburbs of Paris in France, or in Oldham in the UK or in Los Angeles in the USA?

All this to be taken with a grain of piquant salt!!!

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