image missingTrue Value Metrics (TVM)
Meaningful Metrics for a Smart Society
image missing Navigation ... HOME
HOME BRIEFS PROBLEMS
POSSIBILITIES
SYSTEM
OVERVIEW
PROGRESS
PERFORMANCE
STATE
CAPITALS
FLOW
ACTIVITIES
FLOW
ACTORS
EFFECTIVE
MANAGEMENT
PETER
BURGESS
SiteNav SitNav (1) SitNav (2) SitNav (3) SitNav (4) SitNav (5) SitNav (6) SitNav (7) SitNav (8)
Date: 2019-12-10 Page is: DBtxt001.php txt00003926

Country ... Mongolia
Natural Resource Exploitation

Is Mongolia over-reliant on its resources? ... We look at Mongolia's resource-led boom and how to stop it from becoming a bust.

Burgess COMMENTARY

Peter Burgess

Is Mongolia over-reliant on its resources? ... We look at Mongolia's resource-led boom and how to stop it from becoming a bust.

This week on Counting the Cost Al Jazeera's Steve Chao travelled to Mongolia. Despite being surrounded by global powers such as China and Russia, Mongolia is no economic backwater. The vast country is rich in resources with deposits of coal, copper, and gold worth an estimated $1.3 trillion.

On the back of these resources the country saw over 13 per cent growth in 2011 and in the same year spending rose by 56 per cent. However big growth and spending inevitably sparks high inflation and Mongolia is no exception, with 11 per cent inflation in December.

So is it all too much, too fast? And is the Mongolian economy over-reliant on these natural resources? To answer these questions Counting the Cost spoke to Tsakhiagin Elbegdorj, the Mongolian president.

He says: 'Most of our growth is actually coming from mining and we would like to make our economy like a rainbow-coloured economy, you know, now Mongolia's economy is mostly one colour and we would like to have more colours. Of course I have a message to foreign investors: Do not see Mongolia as a single mining business country, there are many opportunities... Mongolia can be a great hub between Russia and China in this region - an infrastructural hub, financial hub, high-tech hub, we have the potential.'

Source: Al Jazeera


Counting the Cost
Last Modified: 01 Jul 2012 13:55
The text being discussed is available at
http://www.aljazeera.com/programmes/countingthecost/2012/06/20126291118157876.html

SITE COUNT<
Amazing and shiny stats
Blog Counters Reset to zero January 20, 2015
TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative. It has been funded by family and friends plus donations from well wishers who understand the importance of accountability and getting the management metrics right. TVM is a 'big idea' that has the potential to be a game changer leveling the playing field so the wealth and power is shared on a more reasonable basis between people who work for a living and those that own the economy and the levers of power. In order to be effective, it cannot be funded in the conventional way with a for profit business plan, but absolutely must remain an open access initiative.
WE WANT TO MAINTAIN AN OPEN KNOWLEDGE MODEL
A MODEST DONATION WILL HELP MAKE THAT HAPPEN


The information on this website may only be used for socio-enviro-economic performance analysis, personal information, education and limited low profit purposes
Copyright © 2005-2019 Peter Burgess. All rights reserved.