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Part of the China Briefing book series (China Briefing)

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Mongolia was once the center of an empire which stretched from Vienna to the South China Sea. Having a distinct language and unique culture, Mongolia declared independence from China after the fall of the Qing Dynasty in 1911, but soon after fell under Soviet influence. After the breakup of the Soviet Union in 1990 and the subsequent withdrawal of much-needed Soviet support, the Mongolian economy collapsed, triggering poverty and unemployment. Since then, Mongolia has worked to hasten economic recovery. The official currency in Mongolia is the togrog (MNT) and its average exchange rate in 2010 was MNT1357.50 to US $1.

As a parliamentary republic, Mongolia’s government is headed by a Prime Minister and President, who acts as Chief of State. Since 2009, these roles have been filled by Prime Minister Sukhbaatar Batbold and President Tsakhia Elbegdorj. Among the government’s top priorities in recent times is to bolster national socioeconomic development, a task...


Global Financial Crisis Border Crossing Coke Coal Gobi Desert Shanghai Cooperation Organization 
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© Asia Briefing Ltd. 2012

Authors and Affiliations

  • Asia Briefing Ltd.
    • 1
  1. 1.KowloonHong Kong SAR

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