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Government
Mongolia declared independence from China in 1911, but it faced political instability and was soon influenced by Soviet Russia. -
Economy- Pre-Communist Economy
Before the 1920s, Mongolia’s economy was largely agrarian and nomadic, based on traditional herding practices and limited trade. -
Economy- Communist
Under communist rule, Mongolia’s economy was centrally planned. The government nationalized industries and collectivized agriculture, leading to an emphasis on heavy industry and state-run enterprises. -
Governement- Communist Era
Under Soviet influence, Mongolia established a socialist government in 1924. The People's Republic of Mongolia adopted a communist model with centralized control, a planned economy, and a single-party system dominated by the Mongolian People’s Revolutionary Party (MPRP). -
Government- Transition to Democracy
The fall of the Soviet Union led to Mongolia’s transition to a market economy and democracy. In 1990, peaceful protests led to political reforms, multi-party elections, and a new democratic constitution in 1992. Mongolia now operates as a parliamentary republic with a focus on democratic governance and market economy principles. -
Economy- Market
After the transition to democracy, Mongolia moved towards a market-oriented economy. Privatization of state-owned enterprises, liberalization of trade, and foreign investment have been central to economic reforms. Key sectors include mining (especially coal and copper), agriculture, and tourism.