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Strategies & Market Trends : Greater China Stocks

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To: Julius Wong who wrote (7509)	5/27/2011 4:34:20 AM
From: GUSTAVE JAEGER	Read Replies (1) of 8334

The Irish Times - Friday, May 27, 2011 A piece of Mongolia's mine CLIFFORD COONAN in ULAN BATOR MONGOLIA: The underdeveloped resource-rich country is about to undergo a massive transformation – even if that does mean working with its distrusted neighbour, China. THERE AREN’T TOO many capital cities in the world where you can still see a nomadic herdsman pull up on horseback, in full traditional costume, at the traffic lights not far from the country’s parliament and within sight of a Louis Vuitton boutique. Mongol horsemen conquered large swathes of the known world wearing clothes like this traditional garb and riding similar steeds, but even in Ulan Bator the beloved steed is giving way to the 4x4 sports utility vehicle. Balanced between China and Russia, Mongolia is a mostly undeveloped resource-rich country about to undergo a transformation. It’s called the Saudi Arabia of the coal industry, and it may be about to go from being one of the poorest countries in the world to joining the ranks of the richest. “Mongolia is awakening. The industry is about to take off. We are just starting out to help the Mongolians find what they’ve got,” says Irishman Robert Wrixon, managing director of Haranga Resources. The company is based in the heart of the city that people tend to refer to as UB, above the Louis Vuitton and Zegna stores. [...] irishtimes.com

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