Mongolian Democracy Prevails

By DemocracyRules
h/t Economist.com

Mongolia holds parliamentary elections on June 29th. It’s a close race between the communist Mongolian People's Revolutionary Party (MPRP) and the main opposition Democratic Party (DP).

Mongolia is among the world's poorest countries.  It has huge and very promising coal, copper and gold deposits.  These have attracted foreign investment, but investors are cautious because of the government’s propensity to grab revenues.

China buys two-thirds of Mongolian exports.  Russia is using their usual export-import bullying tactics.  “Russia's state-owned energy giant, Rosneft, controls 90% of Mongolia's oil supply...  According to the Wall Street Journal, Rosneft has also hinted that it would charge lower prices in Mongolia if allowed to open 100 fuelling stations in the country.”

Mongolia wants to strengthen ties with the US and Japan.  If Mongolia can remain a democracy and get rid of the Communists, it has excellent growth potential.