Nah, this isn't about a 'one-China policy' but rather about money as coal-rich Mongolia aims to boost China trade ties despite dependence risk

Mongolia hopes to boost trade by more than a tenth this ⁠year with China, the biggest destination for its exports of coal and minerals, setting a target that will further boost economic dependence on its giant neighbor.

... China’s demand for Mongolian ‌coal is also likely to grow, [Xu Tianchen, senior analyst at the Economist Intelligence Unit] said, after a mining disaster killed 82 people in northern Shanxi, putting pressure on domestic coal supplies.

So it's the typical turbo-capitalism with Chinese characteristics: money and political coercion.

Nah, this isn't about a 'one-China policy' but rather about money as coal-rich Mongolia aims to boost China trade ties despite dependence risk

Mongolia hopes to boost trade by more than a tenth this ⁠year with China, the biggest destination for its exports of coal and minerals, setting a target that will further boost economic dependence on its giant neighbor.

... China’s demand for Mongolian ‌coal is also likely to grow, [Xu Tianchen, senior analyst at the Economist Intelligence Unit] said, after a mining disaster killed 82 people in northern Shanxi, putting pressure on domestic coal supplies.

So it's the typical turbo-capitalism with Chinese characteristics: money and political coercion.

Nah, this isn't about a 'one-China policy' but rather about money as coal-rich Mongolia aims to boost China trade ties despite dependence risk

Mongolia hopes to boost trade by more than a tenth this ⁠year with China, the biggest destination for its exports of coal and minerals, setting a target that will further boost economic dependence on its giant neighbor.

... China’s demand for Mongolian ‌coal is also likely to grow, [Xu Tianchen, senior analyst at the Economist Intelligence Unit] said, after a mining disaster killed 82 people in northern Shanxi, putting pressure on domestic coal supplies.

So it's the typical turbo-capitalism with Chinese characteristics: money and political coercion.

This is just another cross-post from one of the ml propaganda channels using a left-wing extremist source that is known not just for its anti-Western stance but, more importantly, for spreading conspiracy theories.

From the original report:

-Over a third of the world’s largest banks (26 of 65) reduced their fossil financing from the previous year, with some European banks and some Canadian banks driving most of that progress.

-The remaining 39 banks moved in the opposite direction, and some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.

-On balance, the world’s 65 largest banks committed $906 billion to companies conducting business in fossil fuels in 2025, up $64 billion or 7.6% from 2024.

-Since 2021, global banks have funneled over $4.2 trillion in financing to fossil fuels, including $2.1 trillion to fossil firms in expansion.

Edit

Dealmakers and Dealtakers: Top Bank Financing by Country 2025

The US dominates as a financial center providing bank financing for fossil fuels. This petrostate also jumps off the chart (below) as the nation receiving the most fossil fuel debt from banks. In fact, US fossil fuel corporations received 45.4% of all fossil fuel financing in 2025. Comparing countries’ total bank fossil financing to their fossil fuel company borrowers, the US is an outlier. It is the only Big Six financial center [comprising the U.S., Canada, Japan, EU, China, UK] whose fossil firms receive more bank financing than its banks provide. Japanese banks, on the other hand, provide much more financing than the country’s fossil sector receives. In China, the volume of bank financing to fossil firms is about equal to the amount received by fossil firms. This is at least partly explained by China’s more insular financing model: about 86% of 2025 fossil financing from Chinese banks went to Chinese comp

Yeah, but the US isn't the only problem. While European banks and some Canadian banks reduced their fossil financing, some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.

From the original report:

-Over a third of the world’s largest banks (26 of 65) reduced their fossil financing from the previous year, with some European banks and some Canadian banks driving most of that progress.

-The remaining 39 banks moved in the opposite direction, and some US, Japanese, and Chinese banks were responsible for the largest year-on-year increases.

-On balance, the world’s 65 largest banks committed $906 billion to companies conducting business in fossil fuels in 2025, up $64 billion or 7.6% from 2024.

-Since 2021, global banks have funneled over $4.2 trillion in financing to fossil fuels, including $2.1 trillion to fossil firms in expansion.

Edit

Dealmakers and Dealtakers: Top Bank Financing by Country 2025

The US dominates as a financial center providing bank financing for fossil fuels. This petrostate also jumps off the chart (below) as the nation receiving the most fossil fuel debt from banks. In fact, US fossil fuel corporations received 45.4% of all fossil fuel financing in 2025. Comparing countries’ total bank fossil financing to their fossil fuel company borrowers, the US is an outlier. It is the only Big Six financial center [comprising the U.S., Canada, Japan, EU, China, UK] whose fossil firms receive more bank financing than its banks provide. Japanese banks, on the other hand, provide much more financing than the country’s fossil sector receives. In China, the volume of bank financing to fossil firms is about equal to the amount received by fossil firms. This is at least partly explained by China’s more insular financing model: about 86% of 2025 fossil financing from Chinese banks went to Chinese comp