Mongolia must be a candidate for the unwanted title of the country worst hit by cratering commodity prices and the slowdown in China.
Coal, copper, iron ore, oil, gold and zinc account for the overwhelming majority of the landlocked central Asian country’s exports (the next biggest category is animal hair), while almost 88 per cent of its wares are bound for neighbouring China.
The slowdown in the global mining sector has also undermined foreign director investment flows into the Mongolian economy.
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