A major driver of Mongolia's security directly relates to its two neighbors, Russia and China, due to its unique geopolitical existence that locates it between two large, powerful states. Within a small state security framework, Mongolia maintains friendly relations with these, its neighbors, through the "Good Neighbor Policy." Additionally, to counter their influence, Mongolia adopted the "Third Neighbor Policy" to attract the economic interest and organizations' participation of other countries. However, China's BRI presents a significant risk of causing imbalance. Therefore, Mongolian participation in BRI should be questioned. The aim of this research paper is to examine the issues based on other countries' cases and determine if potential risk outweighs benefits from China under BRI.

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