Putin promises infrastructure investment in Mongolia

AFP by Yahoo ^ | September 4, 2019

[NorseViking]

Russian President Vladimir Putin has promised to help finance new infrastructure in Mongolia on a one-day visit this week, as the landlocked country looks to reduce its reliance on Beijing.

Mongolia sits in a strategically important place between Russia and China, and its economy has been growing largely from mineral exports to its giant neighbour China.

But the Mongolian authorities have been looking for ways to export more to other Asian countries, and the Russian president's visit on Tuesday was seen as a key opportunity to strengthen ties.

"Russia will never forget Mongolia's help and support when Russia was fighting against the Nazis," Putin said, joining in a celebration to mark the 80th anniversary of a battle fought by Mongolian and Russian soldiers against the invading Japanese army in 1939.

Mongolian President Khaltmaa Battulga and Putin signed a series of agreements including joint investment funds to finance Mongolia's infrastructure developments, with the Russian president loaning 100 billion rubles ($1.5 billion) in a gift for the battle anniversary.

[libh8er]

I didn’t know that the Mongolian president is a real estate billionaire who considers Trump his mentor.

[Zhang Fei]

Mongolia’s in a tough spot geographically. The day will come that China will invade and attempt to annex the country. Mongolia’s only hope is that (1) Russia stays strong and (2) Russia defends it against its traditional enemy.

[BeauBo]

“The day will come that China will invade and attempt to annex the country.”

China annexed Mongolia for 250 years. They only got their independence with Soviet help, becoming the world’s second communist country.

China still retains what they call Inner Mongolia, and Mongolia was among the first areas where the Chinese communists tried going large scale with their “debt trap” scams, to take control of rich mineral resources, in what is jokingly called.”Minegolia”.