Sunday, January 24, 2010

News of the Day

Udriin hool deer surguuliin nomiin sanchaasaa Tureg hurgenuudtey boloh gej baigaagaa olj medev :P

Mongolei will 20.000 türkische Männer "importieren"

(AFP)

Istanbul — Um einem akuten Frauenüberschuss in ihrer Bevölkerung entgegen zu wirken, will die Mongolei einem Zeitungsbericht zufolge 20.000 türkische Männer "importieren". Diesen Vorschlag werde eine hochrangige Delegation aus Ulan Bator in den kommenden Tagen bei einem Besuch in Ankara unterbreiten, berichtet die türkische Wirtschaftszeitung "Referans". In der Mongolei, die sich eng mit der Türkei verbunden fühle, komme derzeit ein Mann auf sechs Frauen.

Vorgespräche zwischen den beiden Regierungen seien bereits im Gange, meldete das Blatt unter Berufung auf einen namentlich nicht genannten Regierungsvertreter. Auf welche Weise die möglichen Kandidaten ausgewählt werden sollen, stehe noch nicht fest.

Wednesday, January 20, 2010

Photo of the Day

Ivanhoe Mines and Bayartsogt rang the opening bell to launch NYSE trading today

Sunday, January 10, 2010

This and That

Culture isn't knowing when Napoleon died. Culture means knowing how I can find out in two minutes. Of course, nowadays I can find this kind of information on the Internet in no time. But, as I said, you never know with the Internet.
Spiegel Interview with Umberto Eco: 'We Like Lists Because We Don't Want to Die'

Islam will definitely take on a European cast. That's exactly what happened to Islam in every place it has ever gone. And Muslims can certainly be good Europeans. But non-Muslim Europeans will be the judge of that, too. The Swiss referendum shows that Muslims arrive at a way of being European and believe that they've met the Europeans at the halfway point. But that does not mean non-Muslim Europeans feel the same.
Christopher Caldwell on Muslim Integration

Currently reading: Krugman - The Return of Depression Economics and the Crisis of 2008. Ungursun zun neg dampuursan delguurees 60% discount-tay avsan nom (how ironic?). Wonderful reading! Krugman shig asuudliig urgun untsguur harj, amand amtagdaj, chihend sonsogdtol tailbarladag bolchihvol amid yavsnii hereg butdeg baih daa, gegege.

Leszek Kolakowski - Freedom, Fame, Lying And Betrayal: Essays On Everyday Life. Hervee delguurt ene nom haragdval yu ch bodolguy shuud hudaldaj avaaray. Punkt. (Yur ni nariindaa bol Kolakowski baigaaguy bol Solidarnosc amjilt olj Communism nurah baisan ni ergelzeetey. Daan ch ene zun nas barahad ni Baabar yadaj gants ug gan hiigeeguy...)

Articles of the Day: The Trials of Tony Judt. Setgel hudulgum niitlel. Tegj baigaad Judt-iin talaar post bichnee. Minii medehiin Eric Hobsbawm-iin hamtaar odoogoor amid baigaa 20-r zuunii Europe-iin hamgiin mundag tuuhch. + Avinash Dixit on Paul Samuelson

Audiobook of the Day: Lolita read by Jeremy Irons

Album of the Day: Man on Wire Soundtrack (barag Essential Michael Nyman geed nerlechihmeer sanagdav, gesnees Man on Wire-iig zaaval, bur zaaval olj uzeerey!)

Music Video of the Day

В. Энхбат - Мишээл

Анх дуучин Буянаагийн Oceans 11: Great Mongolian Songs цомог дээрээс сонсч байсан. Бодвол аав, ээжийн миний насан дээр дагаж дуулж байсан дуу байх. Клипэн дээрээ ч дуучин өөрийгөө хар цагаанаар, харин залуухан охиныг өнгөтөөр гаргаж өөрийг нь дуулаагүй бүхэл бүтэн нэг үе гарч ирсэнийг харуулаад байх шиг.

Hat tip to Clouds :)

Friday, January 01, 2010

This and That: Chinese Currency Devaluation

Krugman urges Chinese government to quickly abandon its artificial currency devaluation:

[...] there’s the claim that protectionism is always a bad thing, in any circumstances. If that’s what you believe, however, you learned Econ 101 from the wrong people — because when unemployment is high and the government can’t restore full employment, the usual rules don’t apply.

The bottom line is that Chinese mercantilism is a growing problem, and the victims of that mercantilism have little to lose from a trade confrontation. So I’d urge China’s government to reconsider its stubbornness. Otherwise, the very mild protectionism it’s currently complaining about will be the start of something much bigger.

But putting American interest aside, let us briefly consider the effect of Chinese currency revaluation on Mongolia. Obviously, all the products we buy from China will immediately become more expensive to us. By the same token, it would also give us incentive to produce all those products in Mongolia - especially garments, which would decrease our unemployment level. Not a bad thing for a country that doesn't produce much. However, on the large scale, our economy would suffer significantly, for we earn most of our income through exporting mineral deposits to China. If Chinese economic growth slows down due to currency revaluation, the demand for our mineral deposits would fall accordingly. Needless to say this is a serious threat to our economic development - as we've briefly reminded of this imminent danger throughout last year.

What's most alarming about Krugman's article is the point that China may inevitably face currency revaluation. Not because China's sympathy to the world - especially to the US - but because of growing protectionism against China, which would eventually force them to devalue their currency anyway. But one thing that really interests me right at this moment is whether our government is anticipating this kind of outcome. If yes, what kind of exit strategy are they envisioning?

Addendum: Time Magazine Person of the Year #3 + The Year's Biggest Ideas in Economics
Song of the Day: Beth Rowley - "You've Got Me Wrapped Around Your Little Finger"