A cura di @Carlton Banks e dal Post.
La sua moneta ha perso il 30 per cento del valore dall’inizio dell’anno e ora la crisi rischia di coinvolgere anche l’Europa
For much of Erdogan’s almost 16 years in office, Turkey enjoyed China-like levels of growth. But unlike China, an exporting powerhouse with a current-account surplus, Turkey runs one of the world’s largest deficits because its expansion was fueled by foreign debt. That all seemed fine when the world’s central banks were pumping cash into markets to help pull economies out of a crisis. But not anymore, as global interest rates rise and investors, less enamored with emerging markets, pull funds back to developed economies. Turkey missed an opportunity during this period to direct the tens of billions it received from abroad into long-term productivity gains, burying much of it in construction projects and shopping malls instead.
Fonte: il Post Economia
Immagine da Flickr.