Nowadays, Ulan Bator looks increasingly like a Chinese boomtown, with all the same trappings — exploding property prices, huge capital inflows, rising concerns about corruption, widening gaps in income disparity, and a flood of flashy automobiles on the roads. A year ago, a Louis Vuitton boutique opened for business in the posh Central Tower building near Sukhbaatar Square. A glass cabinet holds a horse saddle encrusted in gems. "It's one of a kind, custom-made for Mongolia," the manager notes. Downstairs, the offerings are more conventional. A crocodile purse fetches $20,000; watches run $17,000. The sums are astounding in a country that is still among the world's poorest. Per capita GDP in 2008 was about $3,100, making Mongolia the world's 166th-poorest country — just ahead of the West Bank. Yet that hasn't stopped Ermenegildo Zegna, Hugo Boss, and Burberry from opening up. "There's lots of new money here," says Zoljargal, marketing manager for Shangri-La Ulaanbaatar, which is rushing to finish a new shopping plaza, along with Mongolia's first luxury hotel.
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But many analysts now say that money, along with huge foreign inflows of "speculative capital," has been funneled into the stock and real estate markets.
但许多分析家说,随着大量外资流入的“投机资本”,钱已进入股票和房地产市场漏斗。
These huge official interventions prevent the emergence of large net capital inflows into emerging countries.
这些大规模的官方干预,防止了巨额资金净流入新兴市场的现象出现。
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