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Modern Mongolia - From Khans to Commissars to Capitalists (Paperback, Annotated Ed)
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Modern Mongolia - From Khans to Commissars to Capitalists (Paperback, Annotated Ed)
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Land-locked between its giant neighbors, Russia and China, Mongolia
was the first Asian country to adopt communism and the first to
abandon it. When the Soviet Union collapsed in the early 1990s,
Mongolia turned to international financial agencies--including the
International Monetary Fund, the World Bank, and the Asian
Development Bank--for help in compensating for the economic changes
caused by disruptions in the communist world. "Modern Mongolia "is
the best-informed and most thorough account to date of the
political economy of Mongolia during the past decade. In it, Morris
Rossabi explores the effects of the withdrawal of Soviet
assistance, the role of international financial agencies in
supporting a pure market economy, and the ways that new policies
have led to greater political freedom but also to unemployment,
poverty, increasingly inequitable distribution of income, and
deterioration in the education, health, and well-being of Mongolian
society.
Rossabi demonstrates that the agencies providing grants and loans
insisted on Mongolia's adherence to a set of policies that did not
generally take into account the country's unique heritage and
society. Though the sale of state assets, minimalist government,
liberalization of trade and prices, a balanced budget, and
austerity were supposed to yield marked economic growth,
Mongolia--the world's fifth-largest per capita recipient of foreign
aid--did not recover as expected. As he details this painful
transition from a collective to a capitalist economy, Rossabi also
analyzes the cultural effects of the sudden opening of Mongolia to
democracy. He looks at the broader implications of Mongolia's
international situation and considers itsfuture, particularly in
relation to China.
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