PROVIDONG MONGOLIAN NATIONAL ECONOMIC SECURITY THROUGH DEVELOPING IT’S MINING SECTOR

An economy is the main pillar of an effective national security strategy and a key instrument of national power. Mongolia’s geographic position between two political and economic powers (China and Russia) provides both opportunities and disadvantages for Mongolia’s economy. Mongolia's economy is currently sustained through exports of raw minerals to its neigh boring countries, which means Mongolia is vulnerable to the mineral market values of those countries. Moreover, highly ambitious natural resource extraction hinders other potentially productive domestic economic manufacturing sectors, which impacts Mongolia’s overall economic development. Therefore, Mongolia needs to develop a multi-pillared, sustainable economic structure based on its resources under a strategic institutional management. This research work is explained that economic and national security are inseparable. Therefore, Mongolia must leverage and develop its mining sector to bolster its economic security, further enhancing its national security. The author stresses the importance of developing an economic security strategy in Mongolia and recommend ways to accomplish this.