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What's the fastest growing economy in the world?

September 25th, 2012
06:57 PM ET

If Mongolia didn't pop into your mind first, you're probably not alone.

This country of just 2.8 million people is landlocked in the middle of Asia, but it's growing at more than twice the rate of China.

Its staggering rate of more than 17%-a-year growth last year may explain why U.S. Secretary of State Hillary Clinton made a pilgrimage to Mongolia, along with Vice President Joe Biden and before him George W. Bush.

Not to mention a parade of other Western and Asian powers, including China, along with corporate titans by the planeload.

Mongolia's secret? FULL POST


Filed under:  Christiane Amanpour • Latest Episode

Italian PM Mario Monti says he won't run for election

September 25th, 2012
06:27 PM ET

By Lucky Gold & Samuel Burke

Italy’s unelected Prime Minister, Mario Monti, tells CNN’s Christiane Amanpour that he will not run in the upcoming elections.

“I don't need to, because the president of the republic appointed me senator for life,” Monti said Tuesday. “And I think it's important that the full political game resumes in Italy, hopefully with a higher degree of responsibility and of maturity. We are helping that by being part of the European Union. Obviously, I will facilitate as much as I can the evolution.”

Putting out a big European fire

Italy’s Prime Minister Mario Monti, in New York this week for the meeting of the United Nations General Assembly, sounded a note of optimism about the fate of the euro: “Since June-July of this year I am much more confident about the future of the eurozone.”

Appearing Tuesday on CNN's Amanpour program, Monti credited the tough economic measures his government has instituted, even if they have deepened the recession in the short run.

“It’s normal that Italy is still in a recession because the measures we introduced, if anything, did deepen the recession a bit…. But above all we took Italy out of the list of the countries that might have created a big European fire.”

Ghosn: Eurozone now has time, but needs growth

However, he acknowledged that there was much more work to be done. “Can I borrow an expression that President Obama used this morning in his speech to the General Assembly? He spoke of the Arab world after the [Arab] Spring - of the painstaking work of reform. That exactly applies equally to domestic reforms in each of our countries. And I’m glad to say that although the Italian people have been subjected by the government I chair to an unprecedented amount of sacrifices, and discipline and eliminating privileges and grants, the Italian people so far have behaved in a highly responsible manner.” FULL POST