What’s the fastest growing economy in the world?
If Mongolia didn’t pop into your mind first, you’re probably not alone. This country of just 2.8 million people is landlocked in the middle of Asia, but it’s growing at more than twice the rate of China. Its staggering rate of more than 17%-a-year growth last year may explain why U.S. Secretary of State Hillary Clinton made a pilgrimage to Mongolia, along with Vice President Joe Biden and before him George W. Bush. Not to mention a parade of other Western and Asian powers, including China, along with corporate titans by the planeload. Mongolia’s secret? It sits atop a...
read moreWorking in Mongolia: Getting warmer
Mongolia is famous for many things, and being a hotspot of construction activity is not among them – but perhaps it should be. Thanks to a booming economy, the country is developing at a rate of knots. Building finds out why it’s well worth braving the cold Must be prepared to travel. If you want to find the best emerging property markets in the world, that is. And as you plan your itinerary on the global map, you can firmly put a pin on Mongolia. Yes, Mongolia. It may sound like a bit of a left field suggestion, but just a little investigation into Mongolia’s resources...
read moreMongolia: The Pink House of Equities
The world’s best-performing stock market last year was, of course, in an emerging economy. But rather than a steel-and-glass tower rising above a heaving megalopolis, it was in a cheerful pink former children’s cinema in Ulan Bator. This is the Mongolian Stock Exchange, where share prices climbed 121 per cent in local currency terms in 2010 – more than any other market tracked by beyondbrics – and have jumped another 50 per cent this year. The exchange has 340 or so listed companies, 45 brokers, and sees turnover of about $200,000 on a fast day. Mongolia itself has vast untapped...
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