Economy Watch: Mongolia Slated to Grow Faster Than Any Other Country in the Next Decade
Where's the next hottest city? Ulaanbaata, Mongolia. Yes, you read that right.
Mongolia.
Economists say Mongolia will be the fastest growing country in the next 10 years.
"It is not just that Mongolia is a treasure-chest of geological wealth. It is slap-bang next to the world’s biggest and fastest-growing market for most minerals. Put together Mongolian supply and Chinese demand, and Mongolia will be rich beyond the wildest dreams of a population many of whom, a generation ago, saw themselves as nomadic herders. With just under 3m people, Mongolia has a chance of becoming a Qatar or a Brunei: a country that has only a small population but almost all of it, in global terms, loaded. Brian Fisher, an Australian economist who has conducted a study of the economic impact of OT, says Mongolia 'sounds like Australia in 1930.' "
Read more at The Economist.
