BURMA: Expensive Lesson
Useless piles of cement still stood high on Rangoon's docks, tying up harbor traffic and running up demurrage charges. In all, 124,000 tons of it had been unloaded on an inexperienced Burmese trade delegation by Communist negotiators in return for surplus rice (TIME, May 21). Ordinarily, the Burmese would have been delighted by India's offer last week to buy 50,000 tons of it.
But India offered only $24.67 a ton for the cement, which Burma had bartered from Russia, Czechoslovakia and East Germany at the exchange rate of $29.12 a ton. India was not trying to pull a fast one: New Delhi said its bid was based on cement prices quoted to it directly by the Soviet Union. In its headlong rush to woo, Russia had been willing to sell more cheaply to India than to Burma, a country which in the Communist scale of things is not as important.
Most Popular »
- The Growing Backlash Against Overparenting
- Prehistoric Super-Crocodiles May Have Dined on Dinosaurs
- Woman Loses Benefits over Facebook Photo
- Amid Concern About India's Lost Clout, Singh Comes to Washington
- Toilets
- Can the A380 Bring the Party Back to the Skies?
- The Fall of Greg Craig, Obama's Top Lawyer
- Why Exercise Won't Make You Thin
- The Story of Barack Obama's Mother
- Troubling Rise of Facebook's Top Game Company







RSS