|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
The term “informal economy” or “shadow economy” applies to a segment of the economy that is not registered, regulated, monitored, nor taxed, and yet manufactures, offers trade and services, and earns and spends income. It may also refer to the underground economy of robbery, corruption, illegal trades, and organized crime.
Alternatively, in Mongolia, a different type of economy led by parasite chieftains has formed, suppressing economic growth and social development. An “economy” so self-sustainable and circular, to the point that it extracts finances from the state budget and in turn has the political rights to spend the state budget. They approve laws and develop programs with the best possible humanitarian names, such as developing SMEs, supporting agriculture, innovation, for herders, locals, protecting animal husbandry, and promoting disabled people, which sound as if they’ll indisputably serve the citizens. Billions are allocated for these laws and programs in the state budget. Not only state funds, but tenders, concessional loans, bond loans, and whatever other ways to extract money from the state budget is an option for financing. This is not an underground economy; these processes are being registered, and their loans, budgets, taxes, and reports all seem like they’re running smoothly, legally, all according to the policy and regulations. Unfortunately, those funds will be distributed as loans, tenders, and grants in all stages only benefitting a few number of chieftains, ministers and political groups, without a penny going to the real owners or citizens. The allocation is done by chieftains of political groups unofficially. While the Mongolian economy belongs to 3.2 million people, this economy revolves around 10,000 (?) people, eliminating any opportunities for others to run their own business and innovate, devouring the majority of the country’s net profit and revenue.
These parasite members of the economy gain advantages by borrowing billions in interest free loans through backdoor deals, and then build their “SMEs” easily, or even just put it in their bank savings account, establish a non-banking financial institution and launder money with high interest rates, and/or earn unrealistically high profit within a short amount. Meanwhile, real business owners will borrow those high interest loans for their business to barely survive.
As for the “tax” and dividends, the “business owner” has no choice but to compensate these to the group which enabled the owner to get the multi-billion interest free loan. This is the real reason behind the instant expansion of some businesses, sudden construction of extravagant buildings, money laundering through real estate rents, immediate gain of wealth, and the reason land prices goes through the roof. The profit is then used to finance politics, donate to their own political party, buy off media and followers, and create an army of commenters brainwashing for their side. Whoever has the most followers, collects the most bag-holders (workers), pays them, and feeds them, are political businessmen, corporate owners, and has the most power. Gradually, one fraction of the political party or the whole party will be privatized and a private party will be formed. This is the reason why whoever can carelessly spend money in elections, why people own private television channels, and put a stop to media using a non-disclosure agreement. This is also the reason why the “political party”, despite its name, has turned into a political corporation.
Certain units such as party branch committee who work with low salaries to do the dirty work exist to fraud voters, press on their soft spot and oppress them, and distribute cash. During the election, part-time job seekers of the “we can do it” club, who allegedly distribute money and influence certain voting within certain groups, also surround the candidates. This is how political part-time jobs make up quite a bit of the labor market and income share within the Mongolian economy, and how political businessmen and corporation owners have become bosses and benefactors.
These workers do not in their conscious minds realize that they’re supporting this political network, distributing money, brainwashing the public, oppressing them, and going so low as to back-scratch these politicians, at the expense of their children’s future and their chance for a better life, all just for a small amount of money. Even ordinary citizens in both the city and rural areas have polarized political views, dividing and arguing with their brothers and friends on behalf of the parasite chieftains that they’ve declared superior. They do so in hopes that after the election, they’ll get their fair share, a crumb of the giant cake, that is the money to be extracted from the state budget. Many young people, in the name of doing politics, are “hired” in this political corporation. They show their loyalty to their master, become a cell, a tissue in the well-being of this parasite economy while unaware that they’re destroying their own future. Political corporation owners’ income and playing ground expands as individuals and businesses become poorer, their lives and businesses more challenging and burdensome. Hence, it’s in the chieftains’ best interest to evoke political instability, counteract new force and healthy thoughts, instigating the public against foreign and domestic investment, local, fair businessmen and wealth creators, and creating confusion and disorientation. Foreign interests interfere as well.
Thus, a country has formed inside a country, an alternative parasite economy within an economy. This economy benefits no ordinary citizen or business, rather revolves around the “chieftains”, their followers, and the election team which will distribute money for them. In other words, an economy for chieftains. Because this economy sucks the most from newly created wealth and state budget, no money is then available to increase teachers’ and doctors’ salaries, to build kindergartens and elementary schools, or to lend the real business owners. This is the reason jobs are not available, loan interests do not decrease, currency is unstable, businesses grow only too little no matter how hard one tries, and life does not improve.
Mongolia, and every Mongolian is being robbed of their opportunity to build, make, work, and create their future because they are seized by this parasite system and unknowingly serve it. Real change will happen not only by dethroning a few ministers and parliament members, but by eradicating this political financing structure which feeds on the state budget and ridding the state of relevant politicians. This will only be easily achievable when Mongolian people stop opposing each other politically and rather, oppose these insatiable chieftains.
Naidalaa was born in Ulaanbaatar, Mongolia (1975). He holds a BA in Business Economics from the University of Finance and Economics of Mongolia and a MSc in Economics from the University of Kobe, Japan. Naidalaa mainly worked in banking and business industries, and lead the non-governmental institutions: Mongolian Bankers Association (MBA) and Mongolia Economic Forum (MEF). In his early career, he also lectured economics at the University of Finance and Economics (UFE) of Mongolia. Areas of his interests include national development strategy, nation building, economics, sustainable development, green finance and investment.
He is also a party leader and one of founding members of the National Labor Party of Mongolia....
British Columbia revises law that regulates the environmental assessment of major resource projects www.mining.com
The British Columbia government announced this week that, after one year of consultations with Indigenous peoples, industry, communities, environmental organizations and the public, it introduced legislation to modernize the environmental assessment of major resource projects.
In a media statement, the provincial administration said that the idea behind the changes is to provide "a clear and timely path for the approval of responsible resource projects, pursue reconciliation with B.C.’s Indigenous peoples, increase public engagement and transparency and deliver stronger environmental protections."
The new legislation is also part of the Confidence and Supply Agreement signed between the National Democratic Party and the Green Party when the former was pushing to form a minority government in last year's regional election.
“Revitalizing the environmental assessment process is a key shared commitment because we both recognize the need to strengthen public trust in government decision-making,” said Sonia Furstenau, MLA for Cowichan Valley, in the media brief. “It is vital to modernize the EA process so that important considerations like climate change, cumulative impacts and new scientific standards are properly incorporated. I look forward to discussing the legislation further, so we can ensure that the wealth of our natural resources and the well-being of our ecological systems can be enjoyed by British Columbians for generations to come.”
"As a significant private sector employer of Indigenous peoples and a major partner with Indigenous businesses in British Columbia, B.C.’s mining sector is a leader in advancing reconciliation," Bryan Cox.
The legislation is expected to provide increased clarity and certainty to project proponents through an early engagement phase that will identify the focus areas for the project assessment prior to proceeding through an environmental assessment.
Additionally, the law is expected to enhance public engagement by including additional comment periods and earlier collaboration between the Environmental Assessment Office and local communities. It is also aimed at improving the ability to more fully assess positive and adverse environmental, economic, social, cultural and health effects, including greenhouse gas emissions, and require their consideration in decisions. Finally, the plan is that it also strengthens compliance and enforcement for approved projects, along with audits, to make sure conditions included in EA certificates are mitigating identified adverse effects as intended.
"B.C.’s mining industry is committed to ensuring that responsible, community-supporting natural resource projects have a clear, fair and timely path to approval under the modernized Environmental Assessment legislation," said Bryan Cox, President and CEO of the Mining Association of BC, in the media brief. "B.C.’s mining sector also plays an essential role in our transition to a low carbon economy through the commodities we mine. MABC will continue to work with government, Indigenous peoples and other important stakeholders to provide critical input to ensure the smooth transition and practical implementation of British Columbia’s new Environmental Assessment Act," Cox added....
Internet giant Alibaba has set new sales records on Sunday for its biggest shopping day, the annual Singles Day.
The Chinese company hit a record $1bn (£774m; €883m) in sales in 85 seconds, and then just shy of $10bn in the first hour of the 24-hour spree.
In total, customers spent $30.8bn, up 27% on last year, but the lowest annual increase in the history of Singles Day.
Online discounts have been offered on 11 November, Alibaba's informal holiday for singles, since 2009.
Alibaba Group chief executive Daniel Zhang said the spending bonanza demonstrated "customers' continued pursuit to upgrade their everyday lifestyles".
The event was kicked off on Saturday with a gala featuring US singer Mariah Carey, a Japanese Beyoncé impersonator and a shoe-shopping-themed Cirque du Soleil performance.
What is Singles Day?
Alibaba invented the occasion to celebrate the unattached as an antithesis to the romantically involved on Valentine's Day.
It is now the world's biggest online sales event and this year's total was more than Black Friday and Cyber Monday's totals combined, according to Bloomberg.
Some 180,000 brands are available in the shopping blitz, including top technology companies Xaomi, Apple and Dyson.
Last year, the Chinese company expanded the event to the Western market, with downloads of its app AliExpress surging in the US and UK.
Will Singles Day keep on growing?
The shopping frenzy has broken world records in e-commerce sales - surpassing last year's record at 17:34 Hong Kong Time (10:34 GMT).
However, observers believe as the event matures, its growth rate will slow down.
Alibaba has also faced new challenges this year, such as new rivals in the market, a slowing economy and its stock dropping 16% thanks to China's trade war with the US.
The November sale event is expected to be founder Jack Ma's last at the helm of the company. The current chief executive will take over as chairman next year, Alibaba announced in September.
China’s crude oil imports averaged 9.61 million barrels a day last month, customs data cited by Reuters has revealed, with the agency noting the amount is the highest on record.
Once again, it was the independent refiners, or teapots, that drove the increase as they seek to fulfill their import quotas before they expire.
The total October volume of imports hit 40.80 million tons, of which teapots imported 8.22 million tons. Yet this was lower than the teapots’ intake as forecast by S&P Platts last month, which was nine million tons. It was, however, substantially higher than the 7.26 million tons independent Chinese refiners imported in September.
Last month, Beijing announced it will raise by 42 percent the oil import quota for its non-state refiners—most of which are the independent refiners—for 2019 as new refinery capacity is planned to enter into operation next year. This served to dampen worries about a possible decline in demand, but only temporarily: now OPEC and Russia are once again talking about cutting production because of expectations of excessive supply.
What’s more, China is changing its sources of crude. The country sharply reduced its intake of US crude, for example, as the trade war between Washington and Beijing escalated this summer. A few months ago, Chinese refiners stopped buying US oil completely in anticipation of tariffs on it. Beijing did not impose tariffs and in October, CNBC reported recently, refiners resumed purchases of US oil. However, the volume of these imports remains unclear and may be much lower than earlier imports, before the start of the trade war.
Chinese refiners have also been importing a lot of Canadian oil relative to their usual intake of this particular oil. With the discount of Western Canadian Select to West Texas Intermediate at historic lows making the Canadian blends particularly attractive for Chinese bargain hunters, chances are this trend will continue for the time being unless the price environment changes radically.
Ulaanbaatar /MONTSAME/ The ‘Literacy for life: shaping future agendas’ resolution introduced by Mongolia was adopted at the Third Committee meeting of the 73rd Session of the United Nations General Assembly (UNGA 73) on November 6.
According to the UNESCO survey for the UNGA 73, about 750 million adults around the world, most of whom are women, are illiterate, 617 million children and adolescents do not have access to education and 262 million children, adolescents globally are out of school.
With the adoption of the resolution, the UN General Assembly recognized the “catalytic effect” of the United Nations Literacy Decade (2003–2012) as “a global framework for sustained and focused efforts for the promotion of literacy and literate environments”. The resolution calls upon governments to “scale up literacy programmes for children, youth and adults, including older persons” to “foster innovative delivery of literacy services, including through technology and a strengthened institutional network”
The resolution on literacy initiated by Mongolia was supported by the Members States and 100 countries have joined the initiative as co-sponsors.
Ulaanbaatar /MONTSAME/ As of today, 286 secondary schools and 4 kindergartens have been registered in Eco School international program, based on ISO 14001 environmental management system, which aims at ingraining environmental-friendly lifestyle.
The 4th national forum held on November 7-8 highlighted that the country intends to increase the number of eco schools, involving 50 percent of total schools by 2022, as stated in the Education for Sustainable Development national program. The United Nations Environment Program emphasizes that the eco school program is the most efficient and worldwide model program to implement education for sustainable development and the Program is developing cooperation for it.
During the forum, a discussion was held under topic ‘Healthy, Safety, Green Environment’ to release recommendation for the Standard for School Environment being developed by the Ministry of Education, Culture, Science and Sports and necessary information were delivered by professional organizations.
A small wastewater treatment plant with a capacity of 20,000 cubic meters has been opened in the Khan-Uul District of Ulaanbaatar. The facility, which was opened on 6 November, will serve160,000 households from the Yarmag and Nisekh apartment complexes; it was constructed by the HNC Company at a cost of MNT 33 billion from the State Budget. This will help decrease burden on the central wastewater treatment plant which is currently operating with 190,000 cubic meters.
Depending on the wind direction, the bad smell from the wastewater treatment plant is a serious problem in the Mongolian capital during summertime. To solve this, and other problems, a new wastewater treatment plant with a capacity of 250,000 cubic meters, significantly more than the old one is to be constructed in the city. Work on the new plant is expected to begin next spring and to begin operation in 2020.
Mongolia on Thursday celebrated National Pride Day, which commemorates the birth of the legendary conqueror Genghis Khan more than 800 years ago.
Mongolian President Khaltmaa Battulga, Prime Minister Ukhnaa Khurelsukh, Parliament Speaker Miyegombo Enkhbold, other members of the parliament and government ministers paid respects to the statue of Genghis Khan in front of the government palace in the capital Ulan Bator.
The celebrations also included traditional wrestling.
In his speech, Battulga called on the parliament and government to respect justice and the rule of law.
His message is related to issues surrounding the alleged abuse of a fund aimed at helping the development of small and medium-sized enterprises.
Reports recently went public that some lawmakers and their relatives have obtained loans with low interest rates from the fund. The scandal has become headlines in the country.
Mongolia began marking the anniversaries of Genghis Khan's birth as an official public holiday since 2012. The anniversary falls on the first day of first month of winter on the Lunar calendar.
The public will be watching Mongolian Prime Minister U.Khurelsukh’s government for its reaction to massive allegations of misuse of its Small & Medium Enterprise Fund.
In 2009, the Mongolian government expanded a fund to support small and medium enterprises (SME’s). This provided companies with low-interest loans at 3 percent interest for up to five years and contained 2 billion Mongolian Tugrik (roughly USD 780,000 at today’s exchange rate). The fund is reported to have dispersed loans totalling nearly 700 billion tugrik, amounting to several hundred million U.S. dollars. The fund was created in and continues to be overseen by the Ministry of Food, Agriculture, and Light Industry.
However, many of the companies that received loans are tied to prominent politicians through ownership of the SMEs that benefited. The allegation led the current minister of food, agriculture, and light industry, B Batzorig, a member of parliament for the ruling Mongolian People’s Party (MPP), to offer his resignation. A specific allegation is that the minister’s wife had been directly benefiting from the SME fund. Last week, the chief prosecutor requested the State Great Khural (parliament) to revoke B. Batzorig’s parliamentary immunity, however, it refused to do so, It should be noted that the house is dominated by the MPP.
Google employees will now be able to more freely speak out over issues of sexual harassment at the firm.
Responding to demands from the around 20,000 workers who protested last week, the company has said it will end the practice of "forced arbitration" in cases of sexual harassment.
Arbitration will now be optional, chief executive Sundar Pichai said in an all-staff email.
The company did not, however, respond employees' demands in other major areas of concern, angering campaigners.
Most notably, it did not comment on calls for Google's board to have an employee representative, and for the company's chief diversity officer to report directly to the chief executive.
In an email to staff on Thursday, Mr Pichai said: "Over the past few weeks Google's leaders and I have heard your feedback and have been moved by the stories you've shared.
"We recognize that we have not always gotten everything right in the past and we are sincerely sorry for that. It's clear we need to make some changes."
The measures, Mr Pichai said, will increase transparency around instances of sexual harassment, expand mandatory training, and offer increased support for those with claims.
Most impactful will be a shift away from forced arbitration, a highly-criticised practice that meant employees were contractually-bound to deal with complaints internally, in what some legal observers have described as being a "private justice system".
"We will make arbitration optional for individual sexual harassment and sexual assault claims," Mr Pichai wrote.
"Google has never required confidentiality in the arbitration process and arbitration still may be the best path for a number of reasons (eg personal privacy) but, we recognize that choice should be up to you."
But the Tech Workers Coalition, which backed last week's action, said the measures did not go nearly far enough, particularly where it related to contractors who worked with the firm.
"Sundar ignored the demand for a worker to be represented on the board and [temps, vendors and contractors (TVCs)] continue to have no adequate protections from sexual harassment, who make up over half the Google workforce and are disproportionately women and people of colour.
"TVCs didn't receive this email this morning, and have been excluded from the townhall. This deliberate sleight demonstrates the caste-like system deployed by Google, which fails to protect its workers and our colleagues."
The spokesperson added: "For a company that likes to innovate, it's striking to see such a lack of vision for treating all of their workforce with basic dignity. We take inspiration from all who work at Google to keep fighting to build worker power."
Campaigners hope the promised overhaul of how Google handles issues around sexual harassment will remove a culture of secrecy that saw one high-profile engineer leave the company with an $90m pay out, despite "credible" claims of inappropriate behaviour.
The company later said that over the past two years, 48 other employees - including 13 considered to be senior staff - had been fired over sexual harassment issues.
More widely, Google's move to end forced arbitration for sexual harassment claims may energise employees at other firms to demand the same. Uber and Microsoft had already dropped the practice....