Monday, February 24, 2020

Development of Mongolia in Mining Sector Essay Example | Topics and Well Written Essays - 1750 words

Development of Mongolia in Mining Sector - Essay Example pag.). This paper is intended to review the impact the booming mining industry makes on the overall economic performance of Mongolia, as well as the major opportunities and challenges faced by the sector, which inter alia would determine its future. The paper is organized in three main sections, the first of which provides accounts of the overall size, type and peculiar characteristics of Mongolian economy; the second provides a brief overview of the Mongolian mining sector; while the third section attempt an insight into the broadening horizons of Mongolia’s mining industry. Introduction to Mongolian Economy Following the dissolution of the USSR, Mongolia’s economy experienced both deep recession due to natural disasters and political inaction, and more or less noticeable growth, because of the economic reform, which included free-market orientation and extensive privatization of the dominant state sector (CIA, n. pag.). However, the massive livestock losses caused by severe winters and draughts, compounded by falling prices for the primary sector exports and widespread opposition to the privatization process, resulted in fairly anemic GDP (Gross Domestic Product) growth; between 2004 and 2008, the GDP growth was nearly 9 percent on average, mainly due to new gold production, as well as to high copper prices (CIA, n. pag.). As of 2008, the Mongolian economy suffered both a soaring inflation rate – actually the highest inflation rate in over a decade, reaching almost 30 percent – and an external shock caused by the global financial crisis, with a sharp drop in commodity prices, hence greatly slashed government revenues (CIA, n. pag.). A 236 million-dollar stand-by agreement was reached with the International Monetary Fund in 2009, which assisted the country to emerge from the crisis (CIA, n. pag.). Because of the harsh weather during the winter in 2009 – 2010, a massive loss of livestock occurred once again – this time over 20 % of the total number – doubling the meat prices and consequently shrinking the GDP by 1.9 percent. In 2010, the economy growth was 6.4 percent, while in 2011 – 17.3 percent; these results were mainly obtained by commodity exports in the neighboring countries, on which the Mongolian economy heavily relies (CIA, n. pag.). For example, Mongolia purchases 95 percent of the imported petroleum products and substantial portion of its electricity imports from Russia, while China receives over 90 percent of Mongolia’s total exports (CIA, n. pag.). Besides agriculture, which comprises production of wheat, barley, vegetables and forage crops, as well as horses-, sheep-, goats-, cattle-, and camels-breeding, the Mongolian economy’s main industries include construction, production of construction materials, mining (coal, copper, molybdenum, tin, gold, uranium, etc.), production of food and beverages, as well as processing of animal products; according to data of 2010, electricity production amounts to 4.313 billion kWh, whereas electricity imports are 262.9 million kWh (CIA, n. pag.). As of the same period, the overall industrial production growth rate is estimated at 37.3 % (CIA, n. pag.). According to 2011 data, Mongolia’s GDP is estimated at 13.28 billion dollars. Agriculture contributes 12.9 % of the total GDP, the

Saturday, February 8, 2020

Classical Realism and Neo- Realism Essay Example | Topics and Well Written Essays - 500 words

Classical Realism and Neo- Realism - Essay Example Realism is basically a dimension to look at the relations between different states being insecure and constantly gaining power. In other words, it could be said that under the study of realism, states remain in state of war to exercise their power to get more privilege than other states of the world. As studied by Hans Morgenthau, all states seek power that makes them to remain in a state craft. It is the strength of realism in explaining the war that it defines the phenomenon of politics in a sole larger aspect of international system. Realism posits that it is mainly because there is no supreme authority above the states that would allow rules and policies for them to follow to restrain international relations with other states. It is because of the insecurity among states that leads to war. Realism falls short in explaining the causes of war in terms of international system being categorized in different polarity. This weakness has been addressed in theories which were coined late r. On the other hand, neo-realism refers to the causes of war being as the result of polarity of international system. This states that international systems being categorized in bipolar and multi-polar systems have different degree of probability for being at war. Under this position, multi-polar international system which is basically formed with the inclusion of more than two countries is safer and less likely to result in a war. This is merely because the bipolar international system including two states.