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Adam Garrie — Turkey Officially Turns to China For a Long Term Economic Partnership

Summary:
Turkey’s President Recep Tayyip Erdogan has spoken about the primary objectives during the first 100 days of his new administration. Speaking of western financial speculation against the Turkish Lira, Erdogan reiterated that the country is “facing an economic war, but we will win it”. As part of his strategy to win the western war against Turkey’s monetary policies and existing economic growth model, Erdogan announced that for the first time in history Ankara will issue state bonds in Chinese Yuan Renminbi and that the country looks forward to opening up new credit lines with China as a viable and sustainable alternative to borrowing from European or American financial institutions. In hailing the beginning of a “new era” for Turkey, Erdogan further stated that in the future, Turkey’s

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Turkey’s President Recep Tayyip Erdogan has spoken about the primary objectives during the first 100 days of his new administration. Speaking of western financial speculation against the Turkish Lira, Erdogan reiterated that the country is “facing an economic war, but we will win it”. As part of his strategy to win the western war against Turkey’s monetary policies and existing economic growth model, Erdogan announced that for the first time in history Ankara will issue state bonds in Chinese Yuan Renminbi and that the country looks forward to opening up new credit lines with China as a viable and sustainable alternative to borrowing from European or American financial institutions. In hailing the beginning of a “new era” for Turkey, Erdogan further stated that in the future, Turkey’s most important export partnerships with be with China, Russia, Mexico and India. The Turkish President also stated that the country plans to built special trade centres in 35 major cities across the globe....
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Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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