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|    alt.politics.economics    |    "Its the economy, stupid"    |    345,379 messages    |
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|    Message 344,069 of 345,379    |
|    davidp to All    |
|    Caught Between China and Russia, Mongoli    |
|    10 Aug 23 12:32:36    |
      From: lessgovt@gmail.com              Caught Between China and Russia, Mongolia Seeks Closer U.S. Ties       By Brian Spegele, Aug. 1, 2023, WSJ       BEIJING—Sparsely populated and sandwiched between two authoritarian powers,       Mongolia is positioning itself as a resource-rich, democratic partner for the       U.S. in Asia amid growing competition between Washington and Beijing over the       minerals needed to        pursue cleaner energy.               That push will be at the heart of a visit by Mongolia’s prime minister to       Washington this week, as his country attempts to draw itself closer to the       West in a bid to diversify its economy without angering its powerful neighbors       Russia and China.               “The visit will be crucial in delivering a different understanding for the       U.S. side about our democracy,” Prime Minister Oyun-Erdene Luvsannamsrai       said, speaking through an interpreter in an interview ahead of his visit.               During the visit that begins Wednesday, Oyun-Erdene is expected to meet with       Vice President Kamala Harris and Secretary of State Antony Blinken. He is also       slated to visit the National Aeronautics and Space Administration.               Mongolia’s rich mineral reserves as well as its unique geographic       positioning are winning it increasing attention on the global stage. The       Washington visit is the latest of several high-profile engagements by       Oyun-Erdene, who welcomed French President        Emmanuel Macron to Mongolia in May and sat down with Chinese leader Xi Jinping       in Beijing in June.               Mongolia was long a Communist country closely tied to the Soviet Union. Since       transforming into a democracy in 1990, it has kept close links to both Russia       and China, and relies on them for imports of electricity, fuel and many other       goods. Most of        Mongolia’s mining production, including significant volumes of copper ore       and coal, is sold to the Chinese market.               Courting the U.S. at a time of heightened tensions between Beijing and       Washington carries risks for Mongolia, as China has shown itself willing to       punish its smaller, landlocked neighbor for perceived slights. After Mongolia       in 2016 welcomed a visit by        the Dalai Lama—the Tibetan spiritual leader whom China paints as a       separatist—Beijing raised fees on Mongolian mining products and caused       traffic to back up at an important border crossing.               The risk of shortages of minerals such as copper that are used in       electric-vehicle batteries, as well as solar and wind energy systems, is       helping draw the U.S. and Mongolia closer, with Washington increasingly       concerned about China’s domination of the        raw materials used in clean energy production.               “The global energy transition is ongoing but it’s also at risk,” Jose W.       Fernandez, undersecretary for economic growth, energy and the environment at       the State Department, said at an event hosted in July by the Center for       Strategic and        International Studies after touring Mongolian mines.               While Mongolia’s government says it has tens of millions of metric tons of       such minerals in reserve, issues including a lack of infrastructure and       corruption have held back foreign investment. In June, the State Department       signed an agreement with        Mongolia’s government to help the country’s resource sector attract       foreign capital.               The next step, Oyun-Erdene said, would be forming partnerships with more       international companies to jointly explore more of the country’s mineral       resources. He acknowledged that the country’s current data might not be       trusted by international        companies.               “We would like to be more open and transparent to our investors, especially       Western partners and including the United States,” Oyun-Erdene said, adding       that he also has been discussing potential investment in the country with       SpaceX founder Elon Musk.                      Mongolia approved the use of SpaceX’s Starlink satellite-internet service in       July. Oyun-Erdene said that he and Musk, who has long envisioned sending       humans to Mars, recently discussed establishing training centers in Mongolia       because of what the prime        minister said were physical similarities between its Gobi Desert and Mars.              SpaceX didn’t respond to requests for comment.               Geopolitically, Mongolia is among the developing countries that are treading       carefully between the U.S. and its allies on one side and China and Russia on       the other, as the war in Ukraine grinds on. Ulaanbaatar, the capital of       Mongolia, has abstained        from votes at the United Nations that have condemned the invasion.               The prime minister in the interview called for a cease-fire and the start of       negotiations as soon as possible, but said that Russian people shouldn’t be       blamed for the actions of their government.               “We’re incredibly concerned about this tension because the challenges and       consequences of this will be not just geopolitical but also economical,” he       said.               The prime minister’s trip to Washington comes as Mongolia returns to       economic health following a slowdown during Covid-19. The country’s economic       growth was just 1.6% in 2021, dragged down by China’s pandemic border       closures. With the border open        again, the economy is on track to grow by around 5.2% in 2023, according to a       World Bank report released in April.               The country has had discussions this year with the Asian Development Bank, the       World Bank and European Bank for Reconstruction and Development, each of which       could offer hundreds of millions of dollars in new loans, said Bold Javkhlan,       Mongolia’s        finance minister. The government is planning to use the money it raises for       infrastructure projects, said Javkhlan.              https://www.wsj.com/articles/caught-between-china-and-russia-mon       olia-seeks-closer-u-s-ties-f7f090ec              --- SoupGate-Win32 v1.05        * Origin: you cannot sedate... all the things you hate (1:229/2)    |
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