Mongolia exported mostly mining goods to China such as coal, copper and molybdenum concentrates. The statistics noted that the trade volume between Mongolia and China represents 89.1 percent of the total exports of Mongolia in 2019.

The trade volume between the two counties stood at a value of USD 8.4 billion in 2018.

Positive as these figures may be, they underline Mongolia’s increasing dependence on China’s price fluctuations and economic policy. In addition, as China comes under increasing pressure as the world’s number one producer of greenhouse gases – accounting for over a quarter of the global total – Mongolia, will have to rethink its carbon unfriendly coal exports to its southern neighbour!

Eight consecutive down days in New York saw copper for delivery in March losing 10.2% in value, falling to a more than 3-month low of $2.592 a pound ($5,715 a tonne) on the Comex market in New York. On the LME, copper suffered its longest losing streak in six years.

BMO Capital said in a research note that the Beijing’s response to the outbreak, assuming it can be brought under control, could be significant.

The investment bank believes the Chinese government ~6% growth target for 2019 “is likely non-negotiable in order to meet the doubling of per capita GDP promised by President Xi in 2020 versus 2010”:

And with consumption weaker, this will likely involve more fixed asset investment-heavy government spending.

As a result, we may see another push into infrastructure projects into mid-year, while property restrictions could be further eased.

For metals and bulk commodity demand, we see a slightly weaker Feb-March than may have been anticipated, but limited changes to expectations for the year as a whole.

Other industrial metals, where China’s dominance is even more pronounced, were also trading down on Monday. Nickel fell 2.8% to $12,615 a tonne, the lowest level since early July while zinc prices gave up more than 4% to a one-month low of $2,240 a tonne.

The number of total confirmed cases in China rose to 4,515 as of 27 January, up from 2,835 a day earlier.

The country has meanwhile further tightened travel restrictions to try and curb the spread of the virus.

The city of Wuhan, thought to be the epicentre of it, is already in effective lockdown as is much of surrounding Hubei province.

The coronavirus causes severe acute respiratory infection and there is no specific cure or vaccine.

Most of the deaths have been of elderly people or those with pre-existing respiratory problems.

What steps is China taking?
The outbreak of the virus comes during the Lunar New Year celebration which usually sees millions across the country on the move to visit relatives and friends.

Many of the new year festivities have been suspended and the holiday period has been extended by three days to Sunday, in an attempt to contain the spread.

Beijing has stopped most of the bus services into neighbouring Hubei province while both the capital and Shanghai have introduced a 14-day observation periods for people arriving from Hubei.

Of the 106 deaths in China, 100 were in Hubei province while the province's number of reported infections is at 2,714.

In Wuhan, travel from the city of 11 million people has been severely restricted and non-essential vehicles have been banned from the roads.

The city's mayor though said millions of travellers had left the city ahead of the holidays and before the lockdown.

Across China, several major cities have suspended public transport systems, taxis and ride-hailing services.

The Disneyland attraction parks in Shanghai and Hong Kong have both been closed.

What is the situation internationally?
The United States, which has also had several infected cases, has urged its nationals to "reconsider travel" to China and is advising against travel to Hubei.

The country plans to fly consular staff and US citizens out of Wuhan in the coming days.

Many other countries have also warned against any non-essential travel to China while some are planning to help their citizens in Wuhan out of the country.

According to the World Health Organization and national authorities, there have been at least 47 confirmed cases outside China.

The latest case to be confirmed is in the German state of Bavaria, only the fourth so far in Europe.

Eight cases: Thailand
Five: USA, Australia, Singapore, Taiwan
Four: Malaysia, South Korea, Japan
Three: France
Two: Vietnam
One: Nepal, Canada, Cambodia, Sri Lanka, Germany, Cambodia
So far, there have been no deaths outside China.

The 2030 Water Resources Group aims to ensure sustainable water resources management for the long-term development and economic growth of world countries.

Congratulating Mongolia for approving the Water Law, Mr. Paul Bulcke extended thanks to President Kh.Battulga for his support and leadership for the law adoption.

Mr. Paul Bulcke said “The new law leads to an establishment of Water Agency in charge of water issues, control over which were previously split into a number of government ministries and agencies, and becoming an example of a policy change for world countries.”

It was also agreed that the Water Resources Group to cooperate with Mongolia by sending its working team to study the enforcement and outcomes of the law.

The sides also exchanged opinions on using surface water in mining and accumulation of grey water and ice and snow and the Mongolian President noted his willingness to introduce cutting-edge technologies in the given areas.

No confirmed cases of coronavirus in Mongolia. However, by a Deputy Prime Minister’s resolution, Mongolia is considered to be at high risk of spread of the coronavirus originated from its southern neighbor, China.

The cabinet ordered to close off all universities, higher education institutions and vocational training centers and international children camp Nairamdal until March 2, 2020.

On January 24, Friday, the State Emergency Commission decided to close all schools and kindergartens in the country from January 27, 2020 to March 2, 2020.

Education Minister and relevant authorities were charged to conduct online and tele-courses of preschool and secondary school education during this period.

The cabinet ordered to cancel all kinds of public gatherings, which include activities of training centers, cyber gaming centers, public tour, children playground center and driving schools, etc.

It was also resolved to close border crossings with China for auto vehicles and pedestrian traffic, starting Monday, January 27.

To ensure that hospitals are ready if the coronavirus makes its way to the country, the cabinet gave an order to acquire all necessary medical equipment and materials, and government’s reserve fund will finance the expenses of the emergency procurement and salaries of doctors and medical employees who are working on alert.

Additional 150 beds are prepared at the National Center for Communicable Diseases of Mongolia in Ulaanbaatar, reports the Health Minister D.Sarangerel. She further informed that a test equipment to detect the new virus will be brought from Japan on Monday, January 27.

There are currently 31 Mongolian students living in Wuhan, China and they will be brought home within January 27, Monday, by working together with Chinese side, says Deputy Prime Minister U.Enkhtuvshin.

In accordance with the 2004 agreement between the governments of Mongolia and China on border points’ working regime, border crossings for auto vehicles are set to close on public holidays of the two countries. There are 12 border crossings between Mongolia and China for auto vehicles.

International railway and flights will stay on regular schedules on these days.

Yesterday, January 26, the cabinet summoned an emergency meeting regarding the outbreak of novel coronavirus and gave and order to the Minister of Foreign Affairs to strengthen the controls at border crossings within January 20, and to limit the auto vehicles’ and pedestrian traffics through the border crossings.

The President met Greta during the World Economic Forum which is taking place at the Swiss resort of Davos.

The International Youth Green Games is expected to welcome over 4000 athletes from 195 UN member countries. Athletes will be aged up to 18.

The sports programme is composed of archery, athletics, basketball 5×5 and 3×3, chess, climbing, cricket, e-sports, fencing, football, jujitsu, judo, kurash, sambo, shooting, swimming, table tennis, taekwondo, volleyball and wrestling. There will be other categories incorporated into the sports programme: Paralympic – athletics and basketball; Special Olympics – chess and fencing; Deaflympics – judo and volleyball.

The main purpose of the games is to introduce through sports the United Nations ‘Sustainable Development Goals’ to young people who are the future of the planet.

Mongolia has been a member of the World Intellectual Property Organisation (WIPO) since 2002; it also acceded to a number of international conventions in regards to Intellectual property rights including copyright. The Mongolian Constitution itself includes an article on copyright issues, setting out the framework for development in accordance with international standards and practice.

If there is a copyright infringement, the physical person or legal entity shall be held to account and sanctioned under the Mongolian Criminal Code; damages will be determined under the Civil Code.