Along with massive consequences for public health, the global pandemic has taken a toll on the world economy. Due to mandatory lockdowns, economic activity has been all but crippled, barring the operations of most of non-essential businesses.
Given the different and often conflicting agendas, a future Russia-China-Turkey bloc is unlikely but three countries continue to use each other as leverage in their economic and foreign affairs
Turkey’s official statistical institute reports decreases in the unemployment rate. Nonetheless, experts argue that the data is unreliable and simply represents the government’s attempt to whitewash the economy’s failing performance.
The pandemic-induced economic crisis and subsequent contractions in global demand will worsen Turkey’s economic outlook, as the AKP’s populist policies and unorthodox approach towards economics pose an increasing risk to the Turkish economy. As a direct result of the government’s intervention in market mechanisms, chronic inflation and the continuous devaluation of the Turkish lira will constitute a nearly insurmountable challenge for the AKP in the short-term.
The ways in which countries across the Middle East and North Africa are combating the economic backlash presented by coronavirus reveal much about the states of their economies and overall capacities to deal with the consequences of the pandemic.
Turkey’s President Erdogan has presented the discovery of natural gas in the Black Sea as a historic success, but realities point to their inadequacy
The COVID-19 pandemic and its economic fallout appear to have compounded Turkey’s economic woes. As trade falls, tax revenue decrease, and the Turkish lira tumbles, the Central Bank appears to be near out of options
China’s rapprochement with geopolitically strategic Israel is a result of Beijing’s aims to enhance its reputation while weakening the US’s alliances.