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Ulan Bator's $4000 Purses Stir Discontent

By Bloomberg - 2013-02-05T18:13:41Z

Photograph by Paula Bronstein/Getty Images

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Vuitton Boutique

The explosive growth of Mongolia in just 10 years is fueling public unrest and driving controversial renegotiation of mining deals by the government to keep a larger share of profit at home.

The boom has brought luxury retailers such as LVMH Moet Hennessy Louis Vuitton to Ulan Bator, Mongolia's capital, to sell $4,500 handbags.