The Economic Economy Of Mongolia Essay

1629 Words Nov 25th, 2014 7 Pages
Nowadays poverty has numerous confronts, changing from spot to spot and crosswise over time, and has been portrayed from various perspectives. As taking an example of developed countries in the world such as United States, United Kingdom, Germany, Canada etc. have post-industrial economies that is they have strong service administration sector than the industrial sector. The most common criteria the for assessing the level of financial improvement are Gross Domestic Product (GDP), Gross National Product (GNP), the per capita income, level of industrialization, measure of broad base and general standard of living. Mongolia is one of pre-industrial economic nation which has experienced a drastic change in its economy as its GDP has been quite variable within last few years.
In the past Mongolia has been victim of several wars due to some economic and political issues. During Second World War, the rising Japanese fear over the fringe in the middle of Mongolia and Manchuria, the Soviet Union pulled up their socks towards the nation’s security. The cold war politics have played a great role as Mongolia at this point was one of the globe 's most isolated nations, having very nearly no contact with any country outside of the Soviet Union. After the war, global ties were stretched and Mongolia created links with North Korea and the new Communist states in Eastern Europe. With Soviet consolation, Mongolia expanded its interest in socialist supported meetings and…

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