The Rise of the Resource Curse

Bloomberg: In many ways Mongolia is an outlier -- an exotic tourist destination filled with windswept deserts, nomads and yurts. It might also be a vision of the world's future. With a tiny $10 billion economy and less than 3 million people, Mongolia is fantastically resource-rich. And with borders touching China, Russia and Central Asia, the landlocked nation seems to have won a geographic lottery ticket. It doesn't need to go far to find enthusiastic customers for its immense endowment of copper, gold and other minerals...