Following in the footsteps of Genghis

I’m a little swamped with teaching commitments (and a head cold) at the moment, so you haven’t been hearing much from me. I still have time to read an occasional blog however, and I was charmed by this one from the Airport Economist, Tim Harcourt.

He offers some insights into the experience of an underexamined emerging economy, Mongolia, and its increasing engagement with the global economy. The claims regarding the possible impact of Aussie mining firm Ivanhoe’s development of copper and gold mining in the country blew me away:

According to Chad Blewitt, Ivanhoe’s chief financial officer (on secondment from Rio Tinto), the project will “double Mongolia’s GDP of $US5 billion and the mine deposit will become one of the fifth largest mines in the world.” Blewitt believes “this place could be like Dubai in five years time, but they’ve got to manage the revenues and ensure that they have the right skill mix in the labour market to make it all happen.”

Such a transformation is well worth keeping an eye on…

Oh, and the lessons about Genghis Khan (sorry, Chinggis Khaan) are fun too.


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One Response to “Following in the footsteps of Genghis”

  1. Fat Yak « A Great Set of Tipples Says:

    […] Here some free financial advice for you – invest in Mongolia   – it’s about to be the Dubai of the central Asia, I assume without the gaudy architecture, […]

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