Belt and Road Initiative to give hand to neighbor dealing with economic crisis

Participation in China's Belt and Road Initiative will help Mongolia overcome its economic crisis, according to the director of a major newspaper in the country.

"Although the Mongolian economy is experiencing crisis now, there is huge potential for its future growth," said Banzragch Munkhtuul, director of the Mongolian newspaper Mongolyn Medee.

Mongolia, a country of 3 million people with a $12 billion economy, is experiencing its worst economic crisis since 2009. The new government led by the ruling Mongolian People's Party is trying to win investor confidence, cut government spending and find solutions to its mounting foreign debt.