Friday, October 30, 2020

Tag: Erdogan’s Risky Geopolitical Pirouette

Erdogan’s Risky Geopolitical Pirouette

by F. William Engdahl, New Eastern Outlook:

Turkey’s economy has been in increasingly difficult straits for months, especially since the failed July 2016 coup attempt. The latest move by President Recep Tayyip Erdoğan to fire his central bank head and replace him with a more amenable loyalist has already resulted in the largest one-time interest rate cut in the bank’s history. Will this be enough to revive growth in the troubled economy in time for the next national elections in 18 months? What seems to be Erdogan’s overall economic strategy as he tries to balance Washington, Beijing, Moscow and even Brussels? And does it have a chance to revive economic growth?