Genghis Khan
As many as half of Mongolia’s 2.7m people rely either on mining or agriculture for a living. Even the most basic economics will tell you this is not an ideal situation, and unlikely to make for a stable and growing economy. They are particularly concerned about the potential for substantial mining revenues to destabilise the economy, a phenomenon known as ‘Dutch disease‘.
So, unlike their ancestors who sought to boost their wealth by raiding outside their own borders, the modern Mongolians have announced plans for a Mongol Sovereign Wealth Fund or Mongol Hoard.
