The Trump administration formally paved the way for potential global trade wars by imposing a 25 percent tariff on steel and a 10 percent tariff on aluminum imports.
Moody’s downgraded Turkey’s sovereign rating to ‘Ba2’ from ‘Ba1’, and changed its outlook to “stable” from “negative.”
In order to decrease its unemployment rate, Turkey needs structural reforms in areas such as education, immigration policies and labor regulations.
While hegemonic transitions tend to occur over long periods, it seems that the friction between neo-protectionism in strategic sectors and the push for all out liberalization will determine the fundamental axis of the ongoing rivalry between China and the U.S.
Turkey ought to utilize new protectionist strategies in order to adapt and to survive trade and currency wars in an era in which science, industry and technology policies and public activism are on the rise.
Operation Olive Branch is crucial not only for the stability of Turkish politics, but also for the stability for the country’s economy.
While Bitcoin is yet to prove itself, cryptocurrencies have potential in the mid and long-term. Therefore, governments need to take initiatives that will prevent people from being victimized and allow the employment of blockchain technology.
According to data released by the State Highways Directorate on Wednesday 20 January, Turkey earned 1.46 billion Turkish liras ($387 million) in tolls from two bridges on the Istanbul Strait as well as toll roads in 2017.
As the captains of global capitalism gather in the serene surroundings of Davos, they have a mammoth task to figure out how to maintain liberalism’s international relevance in a world fractured by hegemonic conflicts and extreme ideologies.
On Monday 15 January, the Turkish Statistical Institute (TurkStat) announced that the unemployment rate in Turkey dropped to 10.3 percent in October – down 1.5 points from the same month in the previous year.