From the Overview: "Mongolia is a landlocked nation of 3 million people between Russia and the People's Republic of China (PRC). It has been viewed as a democratic success story both among former Soviet satellite states and in Asia. In 1989, democratic activists staged protests against communist rule and formed the Mongolian Democratic Union. The Mongolian People's Revolutionary Party (MPRP), which had ruled the country since 1921, allowed multiparty elections in 1990 and relinquished power in 1996, when a Democratic Party (DP)-led coalition of opposition forces won nationwide elections. Mongolia's foreign relations are driven by a desire to preserve its autonomy by balancing relations between major partners, including the United States, China, and Russia, and also Japan and South Korea. Its economy is supported by extensive mineral resources, but growth remains uneven, driven by fluctuations in mineral and petroleum prices."
CRS In Focus, IF10926
Congressional Research Service: https://crsreports.congress.gov/