Is Mongolia set to become 'Saudi Arabia' of Asia?: "What does the country of Mongolia bring to mind? Does it evoke ideas of Genghis Khan and his marauding men, the vast Gobi desert, a nomadic people, a backward communist society or a land rich in minerals?
As the value of traditional currencies around the world takes a nosedive, people are looking to gold and silver as a safe investment. Mongolia has copper and gold mines which will supply the country’s GDP, gross domestic product, in the coming years, if pundits are right. One mine, featured in a televised BBC report, will supply a third of Mongolia’s GDP for the next 50 years. With a population of around 3 million, Mongolia could be in for an extended period of “boom.”
Mongolia split from its communist partner Russia in 1990, bringing in political and economic reforms. Russia turned the screw, withdrawing Soviet support. Widespread poverty and unemployment followed but the tide is turning and Mongolia could experience a gold rush of Californian proportions."
'via Blog this'
