Mongolia's rapid growth masks its vulnerability

Mongolia's vast, sparsely populated, landlocked country offers a bonanza to miners that is fuelling double-digit economic growth, but is also exposing it to internal and external dangers.

Mongolia's rapid growth masks its vulnerability

While fears have mounted about a double-dip recession in the US and Europe, Mongolia’s small, open economy grew a staggering 17.3% year-on-year during the first half of 2011, according to a World Bank report released late last week.

The country’s booming copper and coal mining industry is driving the economy, but at the same time makes it vulnerable to a global downturn. Mining comprises 22% of overall GDP and the sector expanded 40% in 2010,...

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