Yes we Khan— Ulan Bator


Mongolia is rich in raw materials and is thought to have huge oil reserves: resources that its neighbour China – with which it shares a rocky relationship – needs. The dust-bowl capital, Ulan Bator, is already flourishing but Mongolia needs to overcome its poverty and corruption.

China, Emerging markets, economy, flourishing, market, oil reserves, raw materials

At first glance Ulan Bator, Mongolia’s gritty capital, doesn’t hold much promise. Pavements are cracked and crumbling. Beaten-up, growling buses jostle with cars from Japan’s scrapyards. Hawkers squat with folded arms waiting to sell a lollipop, shine shoes or dial a telephone call for passersby. Many Soviet-era buildings sorely need a lick of paint, new windows and a spring clean. But something is up.

Shimmering green, blue and silver office towers are taking shape, pointing to a golden future. A trove of minerals stretching across the Periodic…


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