I used to have a lot of respect for S. Oyun, who I just found is the Foreign Minister now. As an MP, she was an active and outspoken politician. Recently on a trip to China to meet the State Counciller of China, she is quoted as saying:
Mongolia always believes that Tibet and Taiwan were inalienable parts of Chinese territory, Oyun said, adding his government understood and supported the Chinese government's measures in dealing with the Lhasa riots.
Full article available here.
In Mongolia, there is mostly indifference towards the Taiwan-China affair. The short is, most people will say "They're both Chinese, so what's the difference". Besides, the Kuomintan invaded Mongolia shortly before they fell and fled to the island.
As far as Tibet goes, I believe Mongolians should feel some affinity to them, having had 8 Tibetan priest-kings in the past (Mongolian had 9 lama-kings in succession, one of whom was a Mongolian), having adopted Tibetan Buddhism as the official religion, and having adopted many Tibetan names. Mongolia's political stance on the international forum has been one of a pushover, sending troops to Iraq, Afghanistan to get on the good side of Americans and now kissing up to the Chinese. "..Mongolia always believes"?? Shame.