Mongolian Mining Journal
February 18, 2009
The entry of Mongolia to the league of democracy took place less than two decades ago. Therefore coverage of the democratic chapter of Mongolia in the history books is very thin compared to that of the Great Mongolian Empire. However, the free society and economic freedom brought about the prospects and openness that embody the present economic and cultural globalization. Mongolia is an exotic destination that appeals to western investors for its highly educated population and its proximity to the world’s largest growing economies. The geographic location of Mongolia – landlocked, sandwiched between two giants, Russia and China – was once a drawback for business investment. As the world changes and the economic growth center (and thus the demand) shifts eastward to Asia, what was once a drawback is now an advantage. Of special importance is being next door to China’s enormously large and growing market.