Sh.gantulga: We're on the Same Road As Greece



The following is an interview with analyst Sh.Gantulga about Mongolia's economy and independence.

What do you think about Mongolia's status in the international world?

The decision to invest in Mongolia depends solely on the conditions for investment in other countries. Our authorities have always maintained that foreign investments will just pour in to a democratic country. In real life, foreign investors only care about profitability. They are cautious of the possibility of their money disappearing due to political conditions. The stability of our economic and political conditions are worrying foreign investors.

How would you define Mongolia's economic conditions?

Our economy is unstable. Legislation is always changing. This is because we have a parliamentary system. Parliament consists of political party members. Political parties being funded by wealthy persons are one of the causes of instability because investors want an increased income. That's the market law. So they make and change laws that fit their interests. Although we never had a civil war, there's always a war in the court front. We change our laws more than African countries do. You can see from previous incidents where foreign investors get scared and don't come back for a while. For example, we know that foreign investors left us due to a lot of changes in laws concerning natural resources. It's important to follow the law regardless of its quality once we adopt it. Foreign investors don't care if the laws are good or bad. Their main concern is to increase their wealth without losing anything. In other words, fear and greed follow them around. They invest because of greed and pull back due to fear. We Mongolians don't understand the biological aspect of humans. We only give emphasis to economic laws when in fact, you can't go further without understanding the core.

The president signed to make Mongolia an economic corridor at the meeting in Ufa. How do you view this?

The Ufa meeting showed us that China was in the lead with a dominant position. In other words, only one issue was discussed at BRICS and Shanghai meetings. President of China Xi Jinping accentuated the construction of the Silk Road Project and Asian Infrastructure Investment Bank. Although it seems like two things, it's one by nature. In other words, China wants to head Eurasia. They want to build a trade zone that spans from Far East Asia to Western Europe. Our country is undoubtedly in this region....

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