When we think of Mongolia, we usually think of a landlocked country with an underdeveloped economy, sparsely populated territory, and rich mineral resources sandwiched between China and Russia. So some people joke that Mongolia's geopolitical environment is the safest and protected by two major powers. Although the abundance of resources once grew by double digits, it has never been as rich as the oil-producing countries of West Asia. Mongolia's presence is low internationally, with one third of the population living below the poverty line. Mongolia and China's Inner Mongolia are in the same vein, but now the economic development gap is getting wider and wider. Outer Mongolia has long been left behind by China's Inner Mongolia Autonomous Region.
History of Mongolia
Mongolia was once a part of China's history, and during the Yuan and Qing dynasties, it was once a territory directly under its jurisdiction. We will not say that during the Yuan Dynasty, the Qing Dynasty was the existence of the territory of the dynasty as a directly administered territory. Due to the invasion of the Dzungars against the Khalkha Mongols and the Southern Mongols, the princes of the various ministries requested the Qing government to send troops to pacify the Dzungars. After three generations of emperors and seventy years of war, the Dzungars were finally pacified and the Jin Ou was unified.
Although the territory was swallowed up and plundered by the great powers in the late Qing Dynasty due to the corruption of the imperial court, the northern territory remained within the territory of the Qing Dynasty. Even during the Beiyang government, it continued to exist within the territory of our country, until the Tsarist Russian forces supported the Mongolian separatist forces to establish an independent state. It is a pity that our territory has changed from begonia leaves to cocks.
Economy of Mongolia
Mongolia basically received a lot of aid from the Soviet Union during the Soviet period, so even if life was difficult, it still had its own agriculture and animal husbandry. But with the collapse of the Soviet Union and the lack of economic aid, Mongolia's economy collapsed.
With the privatization of the economy, the Mongolian economy not only grew slowly, but also became increasingly acute in social contradictions as the gap between the rich and the poor increased. Mongolia's good times are once again thanks to our strong demand and imports. With the rapid development of the economy, China needs a large number of mineral resources. Mongolia, as a region rich in mineral resources, is also anxious about its own mineral exports, so it takes what it needs in both directions.
In the early 21st century, Due to the rapid export of mineral resources, Mongolia's economic growth rate still ranked among the best in the world. Mining replaced the original animal husbandry and became the pillar industry of Mongolia. Mongolia's sluggish economy ushered in its golden years. Commodity futures and high spot prices have made Mongolia a lot of money. With the development of the economy, a large number of people gathered in the capital Ulaanbaatar. So far, the capital's population has accounted for more than half of the country's population. At the time of the rapid improvement of the national economy, Mongolia did not adjust the economic structure in time so that minerals have always been relatively high in the country's GDP.
Instead of appreciating the rapid growth of their economy due to our strong demand, Mongolia has introduced the Law on the Coordination of Strategic Areas of Foreign Investment to restrict foreign investment. Restrictions were placed on The bidding of Chinese enterprises or the exploitation of mineral resources was imposed, and with the withdrawal of foreign capital, Mongolia's economy plummeted and there was no longer the prosperity of that year. True to that old saying, lift a stone and drop it on your own feet.
brief summary:
At present, Mongolia's economy is sluggish, the fiscal deficit is very high, and the external debt cannot be repaid on time. The country's sovereign credit rating is so low that it has almost become a no-go zone for investors. If Mongolia does not seriously reflect on its own behavior and effective economic development model, the future economic situation in Mongolia will be bleak.
I am the emperor of history, welcome your attention; if there is a flaw, the axe is right.