The Imminent Rise of Mongolia on the International Stage
The northeast Asian nation most famous for Genghis Khan is raising its profile on the world stage by courting foreign investment, boosting its worldwide diplomatic presence, and adopting a self-sufficient energy policy.
What's the Latest?
A nation perhaps most famous for a notable ancestor is emerging on the world stage thanks to a huge influx of foreign investment and an energetic surge in the realm of international diplomacy. That nation -- of course -- is Mongolia, the ambitious northeast Asian country rich with natural resources (and eclectic neighbors). That wealth of resources is the key to Mongolia's future growth. The government has eased restrictions on mining to a point where $1 billion worth of investment is expected to soon flow toward the Mongolian Steppe. Jet-setting president Tsakhiagiin Elbegdorj sees this as a major step toward future prosperity. Capital raised through foreign investment will be used to diversify his nation's mineral-dependent economy.
What's the Big Idea?
Quick - which nation had the world's fastest growing economy (17.5%) in the year 2011? Did you guess Mongolia? Of course you did! And you're right, even though that rate has shrunk to a still-impressive 11.7 percent in 2013. President Elbegdorj has big plans for Mongolia's future including new energy policy charged with achieving national self-sufficiency by 2020. Couple this with Mongolia's ambitious foreign policy and you can begin to see the roots of a world player on the rise. Whether the benefits of economic growth trickle down to the citizenry and boost quality of life is to be seen. Still, Mongolia could be a giant in adolescence and is certainly a nation to watch in the coming decades.
Read more at The Diplomat
Photo credit: Zazaa Mongolia / Shutterstock.com
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
Despite incredible economic growth, it is not necessarily an investor's paradise.
- China's stock market is just 27 years old. It's economy has grown 30x over that time.
- Imagine if you had invested early and gotten in on the ground floor.
- Actually, you would have lost money. Here's how that's possible.
The controversy around the Torah codes gets a new life.
- Mathematicians claim to see a predictive pattern in the ancient Torah texts.
- The code is revealed by a method found with special computer software.
- Some events described by reading the code took place after the code was written.
- Facebook and Google began as companies with supposedly noble purposes.
- Creating a more connected world and indexing the world's information: what could be better than that?
- But pressure to return value to shareholders came at the expense of their own users.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.