Zhou Zhenyi Mongolia, located in East Asia, is the world’s second-largest landlocked country and most sparsely populated one. Lacking the geographical and resource advantages of coastal countries, Mongolia suffers from problems like excessive grazing and mineral exploitation that have caused desertification. The country’s gross domestic product (GDP) for 2023 was US$19.87 billion, and its per capita GDP was US$5,765, according to Asian Development Bank. About 27.1% of its population lived in poverty in 2022. As a developing country, Mongolia’s living standards are akin to those of early 20th-century China. Mongolia’s development requires loan support from neighboring countries and the World Bank to fund infrastructure construction and improve people’s livelihood. Leveraging the World Bank’s financial support, Mongolia should focus on developing its fundamental industries. By adopting a development model similar to China’s over the past two decades, with real estate and infrastructure as the foundation, Mongolia can start by developing industries that support construction, such as building materials and power facilities in order to increase per capita income. Improving income for citizens will bring about an increase in consumer demand. Next, Mongolia should focus on developing light industry to cater to domestic consumer needs. It should identify and cultivate industries in which it has a competitive advantage, integrating them into the global supply chain to ensure long-term economic stability. Tourism can bring in income too, with Mongolia’s well-preserved nomadic tradition and stunning grassland landscapes attracting tourists from around the world. Deeply integrated into China’s Belt and Road Initiative (BRI), it can build transit stations and logistics distribution centers for land transportation, oil and gas pipelines, to serve as a link for commodities export between China and Central Asia. BRI presents a great opportunity for Mongolia to improve its economy and reduce poverty, setting the stage for a more prosperous future. (The author is a student from dreamers Education.) | 