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Pro test movement that ended communist rule in his country, now leading mongolia into a new era, drawing on the spirit of genghis kahn. >> i think genghis kahn had certain negative image in this world because i think he didn't have any person, pr person. >> reporter: president tsakhia elbegdorj is mongolia's best public relations man. he leads a country where a third of the people are below the poverty line, yet on the cusp of great riches. mining companies are lining up to do business. rich deals are being inked for mongolia's reserves of coal, gold and copper. >> does it make you feel a bit ...

The country's communist rule. he's the son of a goat herder but he views himself as a son of genghis kahn. as he told stan grant, he sees the late u.s. president ronald reagan as a role model. >> there's another interesting book here. keith richards, "alive." . >> he's certainly a man of contrast, born a nomad, son of a goat herder and rock 'n' roll fanatic. tsakhia elbegdorj is indeed a modern leader, schooled in soviet euro russia but inspired by an american president, ronald reagan. >> when he talk about mr. gorbachev, tear down the wall, that gave us inspiration. >> reporter: he was part o...

They are the folk there ringing the bell from renn renn. that's china's answer to facebook. it head its debut on the exchange wednesday. shares in the country were offered for sale at $14 apiece. that was at the top end of expectations and it raised just less than $750 million for the country. at the sloclose, it was up $4.0. we spoke to joseph chen about renren's success going forward. >> we 50 using a quarter of a user base. we have a lot of room to grow. in the days to come. and most importantly, china's

We have a few little problems there. so let's just pick up from what nina was saying. in mongolia, it may not seem like a place that's high on the average investors' list. some say it ought to be. the country that game birth to gaini genghis kahn, it's sitting on a treasure trove of natural resources that include copper, gold, coal and iron ore. now mongolia's leaders are hoping to raise $25 billion in foreign investment over the next five years to develop its mining industry and to raise its people's living standards. something else that may be surprising is that mongolia's president is a b...