On December 12, the Chinese state-run newspaper Global Times stated that India was making an attempt to bribe Mongolia with a one billion USD loan, and that the efforts would be in vain.
Recently, Mongolian Ambassador to India G.Ganbold stated that Mongolia was seeking clear support from India against China’s punitive response to a visit to Mongolia by the Dalai Lama. During Indian Prime Minister Narendra Modi’s visit to Mongolia in 2015, the dialogue for a one billion USD loan to Mongolia was started. The Global Times article stated, “India said last week it would help Mongolia use the one billion USD of aid offered in 2015 to overcome its current financial and economic crisis, after The Hindu reported Mongolia was seeking clear support from India ‘against China’s blockade’.”
The article went on to say that China would not be overly sensitive about India’s cooperation with Mongolia and won’t mistake India’s assistance as a move against China. The article highlighted Mongolia’s economic dependence on China, noting, “Mongolia’s economy is highly dependent on China, with more than 90 percent of its imports and exports traded directly with China, according to the website gov.uk.”
The article concluded with a subtle message to the Indian government, stating “As such, China’s influence on Mongolia’s economy cannot be replaced by India in the short run, and efforts will be in vain if India attempts to ‘bribe’ Mongolia’s loyalty with only one billion USD.”