Pity poor Mongolia, bereft of fiscal resources, caught between the ambitions of its superpower neighbors, Russia and China.
Ulaan Bator’s situation is akin to interwar Poland, dexterously attempting to reconcile its foreign policy between the USSR’s hammer and Nazi Germany’s hard place. Who will ultimately benefit is anyone’s guess, but the country’s nascent energy and mineralogical riches have opened the land of Genghis Khan to a fierce bidding war those ultimate outcome is unclear at best.
The nation is essentially empty, its 2.8 million citizens producing an average population density of just over 1 person per sq. km.
That said, the country’s mineralogical riches are more than impressive. More importantly for global mining interests, Mongolia was a Soviet satrapy from 1924 until the 1991 implosion of the USSR and those reserves remained offline.
Full article at: Mongolia Energy Riches Attract Neighbors and Outside Interests
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