Economic activity in Mongolia has traditionally been based on agriculture and the breeding of livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of GDP, disappeared almost overnight in 1990–91, at the time of the Collapse of the Soviet Union (1985–1991). Mongolia was driven into deep recession, which was prolonged by the Mongolian People's Revolutionary Party's (MPRP) reluctance to undertake serious economic reform. The Democratic Union Coalition (DUC) government, 1996–2000, has embraced free-market economics, easing price controls, liberalizing domestic and international trade, and attempting to restructure the banking system and the energy sector. Major domestic privatization programs have been undertaken, as well as fostering of foreign direct investment through international tender of the oil distribution company, a leading cashmere wool company, and banks. Reform has been held back by the ex-communist MPRP opposition and by the political instability brought about through four successive governments under the DUC. Economic growth picked up in 1997–99 after stalling in 1996 due to a series of natural disasters and increases in world prices of copper and cashmere. Public revenues and exports collapsed in 1998 and 1999 due to the repercussions of the Asian financial crisis. In August and September 1999, the economy suffered from a temporary Russian ban on exports of oil and oil products. Mongolia joined the World Trade Organization (WTO) in 1997. The international donor community pledged over $300 million per year at the last Consultative Group Meeting, held in Ulaanbaatar in June 1999.

Mongolia ⁱ/mɒŋˈɡoʊliə/ (Mongolian:  Монгол улс (help·info), literally Mongol country/state) is a landlocked country in East and Central Asia. It is bordered by Russia to the north and China to the south, east and west. Although Mongolia does not share a border with Kazakhstan, its western-most point is only 38 kilometres (24 mi) from Kazakhstan's eastern tip. Ulan Bator, the capital and largest city, is home to about 45% of the population. Mongolia's political system is a parliamentary republic.

The area of what is now Mongolia has been ruled by various nomadic empires, including the Xiongnu, the Xianbei, the Rouran, the Gökturks and others. The Mongol Empire was founded by Genghis Khan in 1206. After the collapse of the Yuan Dynasty, the Mongols returned to their earlier pattern of constant internal conflict and occasional raids on the Chinese borderlands. In the 16th and 17th centuries, Mongolia came under the influence of Tibetan Buddhism. At the end of the 17th century, all of Mongolia had been incorporated into the area ruled by the Qing Dynasty. During the collapse of the Qing Dynasty in 1911, Mongolia declared independence, but had to struggle until 1921 to firmly establish de facto independence from the Republic of China, and until 1945 to gain international recognition.

Lee Kuan Yew, GCMG CH (born 16 September 1923) is a Singaporean statesman. He was the first Prime Minister of the Republic of Singapore, governing for three decades. By the time he stepped down, he had become the world's longest-serving Prime Minister.

As the co-founder and first secretary-general of the People's Action Party (PAP), he led the party to eight victories from 1959 to 1990, and oversaw the separation of Singapore from Malaysia in 1965 and its subsequent transformation from a relatively underdeveloped colonial outpost with no natural resources into a "First World" Asian Tiger. He is one of the most influential political figures in South-East Asia.

Singapore's second prime minister, Goh Chok Tong, appointed him as Senior Minister in 1990. He held the advisory post of Minister Mentor, created by his son, Lee Hsien Loong, when the latter became the nation's third prime minister in August 2004. With his successive ministerial positions spanning over 50 years, Lee is also one of history's longest-serving ministers. On 14 May 2011, Lee and Senior Minister Goh Chok Tong announced their retirement from the cabinet after the 2011 General Election.