Mongolia's economic trajectory remains tightly bound to its mineral wealth. A recent interview from Prime Minister Luvsannamsrain Oyun-Erdene underscores the government's focus on maximizing the benefits of this endowment, but also highlights the inherent tensions in this development model.
The government's assertive stance in disputes with private companies and its focus on "strategic deposits" indicate a significant rise in resource patriotism. The desire to channel resource revenues into the National Wealth Fund (Chinggis Fund) is a legitimate aspiration. However, the execution of this policy demands finesse.