(via Irrawady) The gems trade in Burma has slumped dramatically due to the sanctions imposed by the United States in December, according to gems and jade traders inside Burma and along the border areas + residents in Mogok in central Burma, a center for rubies, confirmed that their businesses were currently in a 'wait and see' situation, relying heavily on cross-border trade + traders on the Thai-Burmese border also said the gems market has been slow + during the 24th Gems and Jade Sale in Rangoon from January 15 to 18, 2008, 357 lots of jade were sold and the event was attended by 737 local and 281 international traders.
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