A big zud in the steppe… Downturn hits Mongolia
The current global economy continues to affect remote lifestyles. On 5 march, the curious g wrote about the results of the economic downturn on the Birqash Camel Market in northern Cairo.
These days, the inhabitants of the Mongolian steppe are feeling the economy’s wrath. Because of the falling demand of cashmere in more prosperous western societies, herders are in danger of foreclosure on both their animals and their tents. It’s a similar scenario to the subprime debacle here in the US. Read the complete story in today’s Wall Street Journal.
Watch the video, Mongolian Way of Life at Risk. What’s happening to small or local businesses near you?
