Mongolia Archives - Page 2 of 2

Mongolia’s Ties to China and the West are Deepening

The close timing of Chinese president Xi Jinping’s and Russian president Vladimir Putin’s recent visits has led a number of analysts to claim Mongolia has abandoned its ‘Third Neighbour’ diplomacy — a long-held policy to build relations with non-border countries — for a consortium with Beijing and Moscow. Pointing to Mongolia’s uneven economic relations with Beijing, dependence on Russian oil and gas imports and slowing growth, these analysts argue that Mongolia has ‘rebalanced’ to China and Russia out of necessity.

Why ASEAN Is Mongolia’s Best Chance For A Prosperous Future

Despite its great potential, the Mongolian economy has not developed as well as expected – a trend that can be reversed with sound regional integration. But finding the right economic partners is difficult; and the nation runs the risk of falling behind as an underdeveloped and isolated “white spot” on East Asia’s dynamically advancing economic integration map.

Mongolia To Build Highway From Russian To China Borders: Report

The Mongolian government is planning to build a $3.5 billion cross-country highway stretching from its border with Russia to Zamyn-Uud on the Chinese frontier, reported Bloomberg on Monday, citing Mongolia’s state-run news agency Montsame.

Mongolia – Fast Facts

Mongolia is a Lower income economies coming under the East Asia and the Pacific region as to the classification made by the World Bank on the basis of income and region for the year 2006.

Poor infrastructure has hampered the country’s economic progress. In 1980 the country had adopted the economic reforms process. As to statistics, the services sector constitutes the highest share in the GDP of the country’s economy. The industries sector of the country’s economy is experiencing a better growth in the recent years.

Mongolia Economic Forecast

Throughout history, the Mongolia economy has depended on agriculture, fisheries, farming, and herding cattle. However, this country is also known for its rich natural resources of copper, gold, uranium, tungsten, tin, fluorspar, coal, and molybdenum. Today, Mongolia has a large industrial production and strong Foreign Direct Investment but at its height with Soviet aid, approximately 35% of the country’s Gross Domestic Product or GDP had virtually vanished overnight during 1990 and 1991.