Research On Mongolia’s Economic Transition

This paper mainly discusses the background of Mongolia’s transition from a "planned economy" to a "market economy",its strategic choice and motivation,and the difficulties it faces,and analyzes the opportunities brought by China Mongolia Economic and trade cooperation under the "the Belt and Road" initiative for the development of the two countries.After the 1950s,the planned economy construction has changed the backward situation of Mongolian society and economy to a certain extent,and started the process of economic modernization.In this process,Mongolia’s national economy has always shown three main characteristics: animal husbandry occupies an important position,highly relies on external assistance and foreign trade,and is highly dependent on the economy of the Soviet Union.At the same time,it also exposed three main problems existing in Mongolia’s planned economic system: slow development of animal husbandry economy,simplification of industrial structure and high foreign debt.In the late 1980 s,in order to solve the exposed system defects and influenced by the "new economic system" reform of the Soviet Union,Mongolia also carried out some incomplete "improvement",but the effect was poor.In the early1990 s,under the background of the disintegration of the Soviet Union,the system ills of Mongolia during the planned economy period became increasingly prominent,and the economic situation became increasingly severe.The "shock therapy" that achieved rapid results finally became the way of economic transition in Mongolia.Before the economic system transition,Mongolia’s economy was always overly dependent on the economy of the Soviet Union,which not only affected the planned economy before the transition,but also caused the imbalance of today’s economic and industrial structure of Mongolia to a certain extent.In the 21 st century,with the continuous in-depth development of bilateral relations between China and Mongolia,the economic and trade cooperation between the two countries has brought new vitality to the economic development of both sides.The proposal of the "the Belt and Road" Cooperation Initiative has created a new platform with more advantages for the next step of economic and trade exchanges between the two sides.Therefore,in the future development direction,China Mongolia Economic and trade cooperation on the basis of equality and mutual benefit should be the focus of our attention.