November, 2016 Economy

Economy Russia US

 By Jacob L. Shapiro
Regionalization can reveal much about countries’ economic structure and relative power.
Power is a relative concept. To say that one state is powerful means nothing. Power only derives meaning if it is evaluated in comparison. Two of the states whose powers we constantly re-evaluate are Russia and the United States.

Turkish economy


Hurriyet Daily News
The Turkish economy may collapse in a couple of years if politicians do not show the West that the economy is trust-worthy, Daron Acemoğlu, Professor at the Massachusetts Institute of Technology (MIT), told the daily Hürriyet. 

Economy, Politics, Turkey
Globalization’s second wave


Laurence Chandy Fellow - Global Economy and Development, Development Assistance and Governance Initiative
Brina Seidel Research Assistant - Global Economy and Development, The Brookings Institution

After two decades defined by growing integration, the global economy appears to be at an inflection point. This judgment has been prompted both by structural changes in the global economy, especially since the Great Recession, and political events over the past year illustrative of a backlash against past integration. Following one such event—the U.K.’s Brexit vote in June—The Economist magazine reported, in a funereal tone, that globalization now seems to be receding, inspiring comparisons with the rise and fall of globalization a century ago.[1]

TrumpTurkish Business Partner

Paul Blumenthal 
President-elect Donald Trump called his Turkish business partner a “close friend” on a phone call with Turkish President Recep Tayyip Erdogan.
WASHINGTON ― When President-elect Donald Trump spoke to Turkish President Recep Tayyip Erdogan on Nov. 9, he mentioned one of his Turkish business partners as a “close friend” and passed on his remarks that he is “your great admirer.”


Global Wealth

by Tyler Durden
Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what is perhaps the biggest reason for the recent "anti-establishment" revulsion: an unprecedented concentration of wealth among a handful of people, as shown in its infamous global wealth pyramid, an arrangement which as observed by the "shocking" political backlash of the past few months suggests that the lower 'levels' of the pyramid are increasingly unhappy about.

Economy, Global, Politics
Turkey economy

Uğur Gürses
Last week, when the U.S. dollar rose to a record high, the Turkish Central Bank’s foreign currency and gold reserves eroded exactly $5.5 billion. They fell back to $117.5 billion, which is the highest drop since 2009 in the foreign exchange reserves, which are released on a weekly basis.

Economy, Politics, Turkey
Trump Economic Policy


Author : Nick Timiraos
The announcement last week by the United States of the largest military aid package in its history – to Israel – was a win for both sides.
Israeli prime minister Benjamin Netanyahu could boast that his lobbying had boosted aid from $3.1 billion a year to $3.8bn – a 22 per cent increase – for a decade starting in 2019.

 

by Tyler Durden
Submitted by Eugen von Bohm-Bawerk via Bawerk.net,

A Brave New World is coming? Perhaps. We had a recent discussion with a group of people in the hopeless business of doing long term forecasting. This made us think about what the world will look like over the next 20 to 40 years. A pretty thankless task, but the bottom line is without a damn good war, Asia will be the way of the future.

Turkey negative growth rates


Author Mustafa Sonmez

Toward the end of the year, when the time comes to disclose Turkey's growth rate in the third quarter, the Turkish Statistical Institute is expected to announce the country's worst rate for the past 27 quarters. The signs are already there, growing clearer every day. In its latest report on Turkey, the International Monetary Fund has already said the year-end rate would be below 3%, a projection that is likely to be revised further downward.

Economy, Politics, Turkey
 Turkey financial strains


Author Mustafa Sonmez
Last week, Turkey’s government appointed the head of the Privatization Administration, Mehmet Bostan, as director general and board chairman of a newly established public company, the Turkish Sovereign Wealth Fund, moving a step closer to the creation of a sovereign wealth fund. The plan was first brought up in late July and hastily passed through parliament the following month.

Economy, Politics, Turkey
Turkish economy


Summary
For several years, the Turkish economy has managed to keep its balance despite teetering on the brink of major problems. In 2013, the notorious "taper tantrum" exposed Turkey as one of the Fragile Five countries that would be most affected by an expected tightening in U.S. monetary policy, and the outlook for the country appeared bleak.

Economy, Politics, Turkey
 Turkey-Africa Economic and Business Forum


ISTANBUL

Turkish officials have expressed strong interest in boosting economic and trade relations with Africa at a key joint forum in Istanbul, where their African counterparts welcomed the call.

Turkey megaprojects


Author Mustafa Sonmez

TranslatorSibel Utku Bila

A key element in the image of success the Turkish government is trying to project is the large number of grand construction projects in the country combined with the narrative that Turkey faces challenges by adversaries who are “jealous” of its progress and resurging power.

Economy, Politics, Turkey