Word: shinechiel
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Against that backdrop, the gains of Mongolia's revolution seem breathtaking. Prodded by Moscow and local reformers, the ruling Mongolian People's Revolutionary Party has gingerly embraced shinechiel (renewal), the local version of perestroika. Last March, Ulan Bator opened its doors to foreign investment after the government approved a law that guarantees unlimited and tax-free repatriation of profits for investors and joint ventures. The results seem promising. The Gobi Cashmere Factory already produces garments for Japanese and European markets, and Japanese, European and U.S. traders are talking about joint ventures...
...leaders of Mongolia's Communist Party have been slow to put their faith in shinechiel (renewal). But once convinced, they have proved fervent converts. Last week the party that has ruled the remote republic for 66 years abolished its monopoly on power, promised multiparty elections by year's end and replaced the entire five-member Politburo with a younger, more progressive slate. Said Foreign Ministry spokesman Tepbishiin Chimeddorj: "This is the beginning of real change...
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