The media frenzy surrounding Mongolia’s current economic crisis is akin to what was seen in 2011-2012, when newswires were filled with stories declaring the country the world’s greatest economic growth story. At the time, there seemed little that could go wrong, Mongolia was posting massive GDP growth, commodities were booming and investors were flocking to the country en masse. In retrospect, with hindsight being 20/20 and all, commodity markets during this time were topping out and the Government of Mongolia (GOM) was about to start an illadvised war with their largest investor Rio Tinto over the Oyu Tolgoi mine.
Publisher: BDSec Joint Stock Company
Pages: 8
The media frenzy surrounding Mongolia’s current economic crisis is akin to what was seen in 2011-2012, when newswires were filled with stories declaring the country the world’s greatest economic growth story. At the time, there seemed little that could go wrong, Mongolia was posting massive GDP growth, commodities were booming and investors were flocking to the country en masse. In retrospect, with hindsight being 20/20 and all, commodity markets during this time were topping out and the Government of Mongolia (GOM) was about to start an illadvised war with their largest investor Rio Tinto over the Oyu Tolgoi mine.
