A stereotypical view of Mongolia is one of dirt tracks, barren land and scant opportunity. But driven by abundant reserves of coal, copper and iron ore, Mongolia has become one of the world’s fastest-growing economies, with investors keen to grab a slice of the action. China already accounts for 80% of Mongolia’s exports, and last June Mongolia overtook Australia as China’s biggest supplier of coking coal.
A potential slowdown in China’s growth will not cut exports from Mongolia as much as some might expect, explains Randolph Koppa, president of the Trade and Development Bank of Mongolia.
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