Mongolia was heavily dependent upon the former Soviet Union for fuel, medicine, and spare parts for its factories and power plants. The former Soviet Union served as the primary market for Mongolian industry.
There were almost no problems, except for the occasional burp rebellions that were immediately put down, etc. As suggested by its name, the silk road was used often to import and export various silk goods, such as clothing. In his merchant handbook, Marco Polo says, "As a sample, I tell you, no day in the year passes that there do not enter the city 1, cartloads of silk alone, from which are made quantities of cloth of silk and gold, and of other goods.
Things such as gold, silver, caviar, wax, iron, spices, animal pelts, and honey were also traded, out of many other things. Kublai Khan liked to focus much of his efforts into the peasant economy, and making agriculture one of his priorities greatly increased the amount of peasants that worked.
Not only did focusing on agriculture give work, it also allowed the Mongol Empire to have a greater amount of food output, and sometimes even a surplus of food. This in turn made each class in the empire have a better standard of living, as less people were starving everyday.
In addition, the great amount of food was used to trade, and generated much income for the empire. Currency While most rulers during the time of the mongol empire used coins as their currency, Kublai Khan adocated the use of paper money as a means of payment.
However, coins and other methods of payment were still used. The money was made using mulberry tree bark, and was written on and signed by officials. Forging was punishable by death. The use of this type of money is said to have been very successful, as people used an almost worthless piece of paper to recieve very valuable things such as gold and silver in return.
Marco Polo, who was travelling in China during this time, had a lot to say about the use of paper as money; you can download his entry and read about it in the link below.Mongolia Economic Outlook. remain bright over the medium-term as the expansion of the Oyu Tolgoi mine—which could constitute a third of the economy by —should drive growth higher.
However, the country is vulnerable to downswings in commodity prices and to a slowdown in China, on which Mongolia relies heavily for its exports. Urbanism, Architecture, and the Use of Space Nepal historically was one of the least urbanized countries in the world, but urbanization is accelerating, especially in the capital, and urban sprawl and pollution have become serious problems.
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Economy of Mongolia; Ulaanbaatar. Currency: 1 tögrög (MNT) = möng Recently, the Mongolian economy has grown at a fast pace due to an increase in mining and Mongolia attained a GDP growth rate of % in However, because much of this growth is export-based, Mongolia is suffering from the global slowdown in mining .
Mongolia is a landlocked country in the centre of the Asia and it is bordering with the People’s Republic of China and Russian Federation.
Mongolian population is 2, Mongolian capital is Ulaanbaatar and it is home to about 38% of the population. The period from characterized as a. Short Essay on Mongolia.
Article shared by: Other Mongolian groups include Dorbed, Bayad, Buryat, and Dariganga. The rest of the population consists of Turkic-speaking Kazaks, who have been traditionally Muslims, and are located mostly in the western part of the country.
and cultivation has not been significant in national economy, al.