Goldman Sachs goes to Mongolia

Goldman Sachs plans to acquire a 4.8% stake in the Trade and Development Bank of Mongolia TDB.

The investment is essentially a proxy for what Goldman Sachs thinks is going to happen in Mongolia. That’s worth watching because Goldman, after all, is well-known for chasing and capturing economic growth around the world. And what better way to cash in on a nation poised to grow than by investing in its banking industry

“Mongolia is a booming and fast-developing economy driven by growth in the mining sector and commodities exports,” Balbar Medree, the chief executive officer of the Trade and Development Bank, said in a statement. “Goldman...