(LANKAPUVATH | MONGOLIA) – Sixteen countries are connected to China’s regional and transportation networks. Since mid-2021, China has made significant investments in trains, roads, energy, and nuclear power facilities in these countries.
The primary reason for this expenditure is because Central Asia, Eastern Europe, and Central Europe are all located far from the sea, as a result, because of the poor potential and high cost of marine growth, the world’s second-largest economy by rail and road is thought to be developing land bridges with China.
China has made significant investments in 16 countries, including Mongolia, Kyrgyzstan, Montenegro, and Tajikistan, but has yet to reap the full advantages of those investments due to weak governance. In 2017, the IMF authorized a $5.5 billion rescue package for Mongolia, to achieve economic stability, adding that he and partners such as the Asian Development Bank and the World Bank will also provide up to $3 billion.
Mongolia, especially after the pandemic, is seen as a vulnerable country with a resource-dependent economy and broken supply chain and marketplaces.
Source: A24 News Agency