Economy

Over the past four decades Dubai has become one of the most important economic centres in the Middle East and a key destination for investors, tourists and corporations from around the world. The emirate boasts a diversified economy, an open business environment, and a multinational population and workforce, all of which have contributed to its...

Since the dawn of democratic Mongolia back in 1989-90, much has changed internally, as the country has sought to negotiate the new, post-Cold-War epoch. This has involved not only embracing new ideas, but also a revised orientation towards neighbours and the wider international community in an era of rapid globalisation. This process has faced...

Just 22 years after embracing the market economy Mongolia has been going through another cycle of economic and political headwinds, although the country’s fundamental macroeconomic indicators appear to be more solid this time round.

Although inflation and commodity price fluctuations preoccupy investors and politicians in the short run, Mongolia’s biggest challenge, as long recognised by development experts and local decision makers, will be rising dependence on mining revenues. The debate on how to manage non-renewable mineral wealth is likely to come into sharp focus once the...

coal to China that does not match up to Chinese railway gauges in this light. China may have the coal, but only at an extra cost, as it will have to transfer this cargo to its own, narrower-gauge rolling stock.

THE BEAR: Russia, meanwhile, has often historically proven an ally, the Red Army helping...

As a landlocked country, with two giant nations enclosing its northern and southern frontiers, Mongolia has long seen much of its economic activity dominated by relations with Russia and China. In recent times, though, Ulaanbaatar has been trying to widen its overseas channels, instituting a “third neighbour” policy to provide extra balance – and...