Economics

 
 

Gambling for jade on the China-Myanmar border

Patrick Cordwell

Society and culture | Asia

 

The unofficial lotteries and clandestine casinos of China are the source of many tales of instant wealth and dramatic financial loss. But in Yunnan province, you’re more likely to see amateur gamblers pin their hopes, and their savings, on lumps of rock as they hunt for precious jade.

Jade is big business in China. In Yunnan province alone, the industry employs more than 500,000 people and annual sales of the precious stone have reached nearly US $2.5 billion. The prized stones flow across the border from Myanmar, and most find their way to counters in cavernous showrooms and glittering jewellery emporiums in Ruili, a small city near the frontier.

3 minute read

Read more

Back to Top