Strong economic growth, driven by years of economic reforms and the country’s vast mineral wealth, supported Mongolia’s rise to middle-income status in 2011.
Nomadic and rural Mongolia has experienced rapid urbanization since 1950, which accelerated during the transition from central planning to a market-based economy in the early 1990s. A series of harsh winters or dzuds resulted in large numbers of livestock deaths, damaging herders’ livelihoods.
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