"Commodities, and their prices, remain a critical valve for the Mongolian economy. After years of soaring economic growth, the Mongolian economy has precipitously cooled over the few past years with a sharp decline in GDP growth and a looming deficit of foreign direct investment (FDI). Indeed, Ulaanbaatar remains heavily dependent on the mining sector for its economic fortunes, which have been battered over the past three years due to the sinking price of coal as global supply outpaced demand. But while the demand for coal is once again slated to surpass supply in the coming years, Mongolia’s FDI numbers remain low."