Turkish Economy - News & Updates

[Nein]

I smell a revolution happening in Turkey

Lets not forget economic hardships that put the country to a gutter leads to a revolution.

We might just see this happening.

 

[Glass]

You are laughing but in Turkiye millions believe that. I always say that political islam is a threat for us and for the future of Türkiye. In the past they gave us the life what we are living right now. Nothing different.
Luckily young Turks can see the reality despite the elderly(dinosaur) Turks. That's why I still have hope.

Well, to a certain extent they are right with the bullshit americans are occasionaly pulling up with the lira. However its also Turkeys fault for putting itself into this position in the first place. Lets see what the next months are going to show.

 

[kartal1]

Well, to a certain extent they are right with the bullshit americans are occasionaly pulling up with the lira. However its also Turkeys fault for putting itself into this position in the first place. Lets see what the next months are going to show.

The situation Turkey is in the moment is combination from both bad decision of Turkish politicians regarding the economy development and foreign pressure. The ones that are talking about only the one factor are serving someone's agenda.

 

[Nein]

The situation Turkey is in the moment is combination from both bad decision of Turkish politicians regarding the economy development and foreign pressure. The ones that are talking about only the one factor are serving someone's agenda.

Us Turks also have a habit of selling our stuff to foreigners and making them control our economy.

This is why Ataturk spent a lot of time in the economy he wanted Turks to control it not foreigners before the republic.

What we see with the Turkish economy is a mix of both internal and external and the stuff AKP especially Erodgan has been saying does not give confidence to the Turkish people it just makes them more angry and pissed off regardless.

Conspiracy theories and constant blaming everybody does not solve the job.

Either they get their together or they should leave it for somebody else to do it. If your car has a problem you dont scream and shout thinking it will solve the problem.

 

[Dai Toruko]

http://www.hurriyet.com.tr/ekonomi/son-dakika-bakan-albayrak-ivme-finans-paketini-acikliyor-41222834
http://www.hurriyet.com.tr/ekonomi/bakan-pekcan-oecd-bakanlar-konseyi-toplantisina-katildi-41223617

 

[Dai Toruko]

Claiming wariness of debt-trap diplomacy, Turkey has opted to not attend China’s three-day Belt and Road Initiative (BRI) forum that started on April 25.

Intended to promote Chinese leader Xi Jinping’s “project of the century” to deploy modern infrastructure to revive ancient ‘Silk Road’ trading routes between Asia and Europe—as well as build new links in the Middle East, Africa, and South America—the summit will draw ire from critics who see it as an attempt at cementing Chinese influence around the world by financially binding countries to Beijing.

Turkey is among the countries that are missing this second such BRI summit, having attended the first. Turkish officials have communicated that both their rejection of debt-trap diplomacy and the diplomatic row between Ankara and Beijing over China’s treatment of the Uighurs, a Turkic Muslim minority in Xinjiang province, are two key reasons behind their non-attendance.

In late March, the arrest of four Turkish executives in China for tax evasion led to speculation that Beijing was firing a shot across Ankara’s bows to warn the Turks of the economic price they would pay if they kept up their stinging criticism of the Chinese crackdown on the Turkic peoples of Xinjiang. Turkey’s Hurriyet Daily News reported widespread panic broke out among Turkish attendees at the Xiamen International Stone Fair after news of the arrests, with businesspeople grabbing any flight they could out of mainland China for fear that they might be detained next. One attendee reportedly vowed never to return to China, saying he was lucky to find a place on the first plane out.

Other absentees from the BRI summit are Poland, Spain, Fiji, Sri Lanka, and Argentina, according to the Eurasia Group.

Generating “legitimacy”
“The overall purpose of the BRI is to generate legitimacy for the Chinese leadership and the Chinese Communist Party more broadly,” Thomas Eder, a research associate at the Mercator Institute for Chinese Studies, was quoted as saying by the Guardian.

“Such prestige is bolstered by every government signing a BRI memorandum of understanding and every head of government attending a grand BRI summit in Beijing. These countries allow Xi Jinping to then tell Chinese citizens that the entire world is endorsing his policies and that he is the one to have put China firmly back at the centre of the global stage.”

The event is to be attended by 37 leaders as well as top ministers, including Russian president Vladimir Putin, Italian prime minister Giuseppe Conte (Italy has become the first G7 nation to endorse the BRI), UK chancellor Philip Hammond, Pakistan’s prime minister Imran Khan and the heads of state of the 10 Asean (Association of South-east Asian Nations) states. The US is reportedly sending low-level delegates, while China’s arch-rival India is not attending.

BRI urged to quit coal
Environmentalists, meanwhile, want to see the BRI quit coal. Chinese companies build coal power projects around the world and such projects accounted for as much as 42% of China’s overseas investment in 2018, according to the China Global Energy Finance database.

On the eve of the forum, a poll was published showing that people living in countries along China’s new “Silk Road” routes favour investment in renewable energy over the construction of coal-fired power plants.

Environmental group E3G, which commissioned the poll of more than 6,000 people from YouGov, said more than 85% of those surveyed favoured investment by foreign governments, banks and companies in renewable projects. Less than a third said they favoured investments in coal. More than 90% said solar power should be a priority. Coal-fired power was less popular than nuclear energy in four of the six countries surveyed. The six were Indonesia, Pakistan, the Philippines, South Africa, Turkey and Vietnam.

There is anxiety that China is using the BRI to export substandard polluting technologies, even while it ups the share of renewable power at home.

https://intellinews.com/turkey-stay...bt-trap-diplomacy-and-uighur-concerns-160249/

 

[TheMightyBender]

-F*ck up your economy
-Start looking for loans to survive
-Nobody loans you money because they know how badly you manage your economy
-go to China asking for a loan
-China gladly agrees to help in the spirit of building a friendship
-borrow as much money as you want
-Spend the money, go broke again
-China comes asking for their money back when its due
-Pikachuface.jpg
-CHINA TRAPPED US BY GIVING US WHAT WE ASKED FOR!!!

Edit: this is not about Turkey. Just pointing out the irony in using phrases like “debt-trap diplomacy”.

 

[MMM-E]

-- Turkey spend around $50 billion for OBOR Project ( new airport in Istanbul , bridges , tunnels , roads , high speed railways ,etc )
-- the US attacks Turkish Economy since 2013 to block OBOR Project
-- Turkish Economy lost hundreds of billions of dollars
-- Turkey asked for loan from China ( a few billion dollars )
-- China will use Turkey's great strategic location for OBOR Project
-- China will earn trillion dollars in OBOR Project
-- but stingy China comes asking for their money back ( a few billion dollars )

RESULT : Turkey says fck off China , We dont need your a few billion dollars and your OBOR Project


without Polland and Turkey ( both are allies with the US in NATO ) China's OBOR Project is nothing in Europe
and Turkey , Polland absentees from the BRI summit

 

[055_destroyer]

The route cut thru Russia is the fastest to Europe. Who needs turkey?

 

[rajvoSa]

sensationalism

Turkey just dont want to find itself in the crossfire of US-China trade war; btw Turkey is well positioned to ripp export benefits from Trumps China tarrifs. Dodging highly public meetings like this is just common sense.

while, in same week:

Alibaba's payment platform enters Turkish market


https://www.dailysabah.com/finance/2019/05/23/alibabas-payment-platform-enters-turkish-market

 

[MMM-E]

The route cut thru Russia is the fastest to Europe. Who needs turkey?

the US control Polland
and Polland blocks OBOR Project ........ Polland also absentees from the BRI summit

 

[Mr.NiceGuy]

Well it seem our government gonna change it's political direction towards USA one more time.
So the threatening strategy of USA worked on Turkish government. As we always know it. Don't care what Erdoğan says but does.
So next step back might be on S400 deal? Probably coz nowadays so called the thinkers and experts of akp started to change their thoughts on it.

-go to China asking for a loan
-China gladly agrees to help in the spirit of building a friendship
-borrow as much money as you want
-Spend the money, go broke again
-China comes asking for their money back when its due
-Pikachuface.jpg
-CHINA TRAPPED US BY GIVING US WHAT WE ASKED FOR!!!
”.

Today I read that our government wanna sell 3th airport to Chinese company. Chinese company has stated that negotiation on it continues.

 

[TheMightyBender]

Today I read that our government wanna sell 3th airport to Chinese company. Chinese company has stated that negotiation on it continues.

How can they sell it? They have already sold it to Qatar twice

 

[UkroTurk]

This week the economist:
On the cover
The rich world is enjoying an
unprecedented employment
bonanza—which capitalism’s
critics have missed: leader,
page 13. What lies behind the
extraordinary jobs boom:
briefing, page 22
......
What the hell Turkey feels deprived and fights with the rich world?

 

[beijingwalker]

Turkey secures $3.6 billion loan package from China
Jul 26 2018
The Industrial and Commercial Bank of China (ICBC) has agreed a loan package worth $3.6 billion for Turkey’s energy and transportation sector, Turkey’s Finance and Treasury Minister, Berat Albayrak, announced on Thursday.

The announcement comes during Albayrak’s visit to China, one of his first overseas trips since being named Finance and Treasury minister earlier this month.

The provision of a multi-billion dollar loan package has come at a fortunate time for Turkey, which will likely face U.S. sanctions, including restrictions on development loans, as a response to the imprisonment in Turkey of U.S. citizens and employees.

ICBC gained a foothold in Turkey in 2015 by acquiring over 75 percent of shares in the Turkish TekstilBank in a $316 million deal.

https://twitter.com/x/status/1022513489993261056

https://ahvalnews.com/china-turkey/turkey-secures-36-billion-loan-package-china