Mongolia: Succumbing to the Resource Curse? | Pacific Money: "Mongolia, rich with coal, gold, and copper has been riding high on the global natural resource boom. The country’s proximity to China makes its resources even more attractive. Over the past decade, mining sector development has led to significant foreign investment and growth in government spending, provided a boost to household incomes, and has moved much of the country beyond its nomadic herding past. In 2012, Mongolia was one of the world’s hottest economies, clocking GDP growth of 12.3 percent. However, political risks emerging over the past year put this positive frontier market story at risk."
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