Forward steppes: the former Soviet satellite has enthusiastically embraced democracy and free markets, even though its economy is reeling from the impact of reforms
Article Abstract:
There has been a vast transformation across the steppes of Mongolia during the past eight months after a successful and bloodless transition from communism to democracy. Prime Minister M. Enksaikhan is aiming to carve out a new identity for the country seeking political alliances with the West and trade links with the East. However it still regards China with deep distrust. The government is embracing free market economics and has frozen spending, liberalised domestic and international trade and lifted price controls, although most Mongolians are not yet seeing the benefits, with unemployment rising. This is said to be short lived according to the government,which is depending on foreign investment to lead to improvements.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Nomad's land: herdsmen confront new economic order
Article Abstract:
Mongolia's aim of integrating its economy into world markets depends on convincing the nomads that they need money, although the herdsmen prefer to do business by bartering with their livestock. The nomads are currently unaffected by inflation, unemployment and currency devaluation, unlike their countrymen in the towns and cities. The government wants to bring traditional nomadic herding to the market economy, as livestock produces cashmere, the country's second biggest export earner. Also there are plans to exploit the country's vast oil, copper and gold reserves which will increase urbanization and diminish the role of nomads.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Democracy delivers: Mongolians take to freedom with gusto and gumption
Article Abstract:
There is a new found atmosphere of capitalist entrepreneurship and political activism in the towns and cities of Mongolia, with most families involved in some type of business. Even the nomadic herdsmen of the Gobi desert are becoming aware of politics. There are many new political parties and the US funded Asia Foundation has helped teach ordinary Mongolians about the basics of democracy. The work of the Asia Foundation lead to 91% of the Mongolian electorate turning out to vote.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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