@hofunghung Key Mongolian economic and social indicators show impressive gains since 1990 compared to any reasonable comparator. Human Development Index is sharply higher. BTW Mongolia was governed from 1990-1996 by the former Communists, who were hardly inclined toward 'shock therapy'!
@ZolooTeddy It would be very interesting to look more closely at how this happened and what the lessons are for Mongolia. Some of the GDP growth was due to adjustments in national accounts methodology. A lot has to do with converting Uzbek data into US$. But clearly there is much more.
@ZolooTeddy With great respect, if the government doesn't soon settle the Oyu Tolgoi negotiations, including respecting the rights of Entree license-holders, this will be a major setback for Mongolia's current and future economic prospects. Still being politicized. The world is watching.
I really hope that the Dems in Congress are using these hearings to do more than just 'gotcha gotcha gotcha' questions which end up making Bessent, Rubio et al look like the serious people in the room. And I really wish Aaron Rupar would not post so many gotcha clips.
Boyle to Bessent: "So all the polls are wrong? I don't know even know what you're saying, Mr. Secretary. I'm citing the facts. Those are the facts you have a problem with."
@haugejostein Goodhart's Law is highly relevant here. Elimination of extreme poverty by 1/1/2021 was a super high priority policy goal, trumpeted with great fanfare by Xi and others. From your knowledge of China, how reliable do you think these data are?
@tsegtsone@ZolooTeddy Sorry -- meant to say largest Soviet supplier of uranium and chromium and a major supplier of the others. Copper production was 4-5 times higher than Erdenet's, e.g.
@tsegtsone@ZolooTeddy Also K was poised to attract large FDI immediately after independence; huge oil fields, largest Soviet supplier of uranium, chromium, copper, lead, zinc and other metals. First big intl investments started in 1992. It quite understandably took much longer for Mongolia.