Economy
The economy of Kachin State is predominantly agricultural. The main products include rice, teak, sugar cane. Mineral products include gold and jade. Hpakan is a well known place for its jade mines. Over 600 tons of jade stones which were unearthed from Lone-Khin area in Hpakan aka Pha-Khant Township in Kachine State had been displayed in Myanmar Naypyidaw to be sold out in November 2011. Most of the jade stones extracted in Myanmar, 25,795 tons in 2009-2010 and 32,921 tons in 2008-2009, are from Kachin State. The largest jade stone in the world, 3000 tons, 21 meters long, 4.8 meters wide, 10.5 meters high, was found in Hpakan in 2000. The Myanmar government pays little attention on deterioration of environment in Kachin because of jade mining. There have been erosion, flooding and mudslides. Several houses have been destroyed in each year.
A controversial construction project of a huge 1055 megawatt hydroelectric power plant dam is ongoing. It is funded by China Power Investment Cooperation. When it is finished, the electricity will be sold to China. It will be 152 meters high when it is finished. It is one of the 7 projects going to be implemented across the Irrawady River. Around 15,000 population were displaced because of that Project.
Bhamo is one of the border trading points between China and Myanmar.
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“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
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—Henry David Thoreau (1817–1862)
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—Calvin Coolidge (1872–1933)