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Economy

Mongolia's Munkh-Orgil: Middle-class surge will change everything

Foreign minister says globalization is 'unstoppable' despite protectionism

Mongolian Foreign Minister Tsend Munkh-Orgil fields interview questions in Tokyo on June 5. (Photo by Mayasuki Kozono)

Of all the important trends shaping Asia, the rise of the middle class will have the most profound impact, Mongolian Foreign Minister Tsend Munkh-Orgil told the conference.

Citing an OECD estimate that the middle-class population will surge to 4.9 billion by 2030, from 1.8 billion in 2009, Munkh-Orgil said the figures are "mind-boggling." The change, he said, will have wide-ranging repercussions on politics and globalization.

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