dagblog - Comments for "China will buy Turkey on the cheap"

Manoj if you come back to

artappraiser — Wed, 15 Aug 2018 06:35:41 +0000

Manoj, if you come back to check, note that this post was in our "In The News" section for news posts and who you are agreeing with is David Goldman writing at the Asia Times

Alibaba paid $750 million for

artappraiser — Wed, 15 Aug 2018 06:35:03 +0000

In reply to China will buy Turkey on the cheap

Alibaba paid $750 million for Turkish startup Trendyol

@ Axios.com, Aug. 14

(China's) ....Alibaba last week acquired a majority stake in Turkish e-commerce company called Trendyol at an enterprise value of at least $750 million, according to multiple sources.....

Maybe worse, this is just a

PeraclesPlease — Tue, 14 Aug 2018 11:51:24 +0000

In reply to I agree with you 100%.

Maybe worse, this is just a charade for Erdogan to back away from the West as he wanted to do before anyway
(e.g. with that "falling out" with Russia that quickly turned into a huge rapprochement)

I agree with you 100%.

Manoj Nathani — Tue, 14 Aug 2018 08:55:11 +0000

In reply to China will buy Turkey on the cheap

I agree with you 100%. I wrote exactly the same thing yesterday. https://voiceofthemarkets.blogspot.com/2018/08/turkey-gift-from-trump-to...

Turkey’s Financial Crisis

artappraiser — Sun, 12 Aug 2018 19:27:57 +0000

In reply to China will buy Turkey on the cheap

Turkey’s Financial Crisis Surprised Many. Except This Analyst.

“Turkey is the canary in the coal mine,” said Tim Lee, an analyst who warned of Turkey’s trouble in 2011. “We are going have another crash that will be worse than 2008 in certain ways.”

By Landon Thomas, Jr. @ NYTimes.com, Aug. 11

For the last seven years, Tim Lee has been warning that a financial crisis in Turkey would set off a wider calamity in global markets.

Just about nobody listened — until now.

A plunge in the Turkish lira and the prospect that the country might soon need a bailout has spurred an investor exodus in Turkey, one that gathered steam on Friday as the currency dropped as much as 16 percent. Relative to the dollar, the lira is now down 70 percent this year; one dollar buys 6.4 lira, the most ever.

There are signs of the rout spreading beyond Turkey. The stock prices of European banks, which have been big lenders to their Turkish counterparts, dropped sharply on Friday, with investors worried that a wave of corporate bankruptcies in Turkey would lead to a banking bust in the country. The currencies of China, Brazil and Mexico also weakened. And in the United States, major stock-market indexes fell more than 1 percent before recovering slightly.

Suddenly, Mr. Lee’s largely ignored prophecy — that a decade of Turkish companies and real estate developers gorging on cheap foreign debt would end badly, not just for Turkey but for the world — does not seem so outlandish [....]

Just talked Turkey with

artappraiser — Sun, 12 Aug 2018 18:56:18 +0000

In reply to China will buy Turkey on the cheap

Just talked Turkey with @Acosta @CNN and where this could be heading between @RT_Erdogan @realDonaldTrump -- wondering what @USTreasury @stevenmnuchin1 has to say about @POTUS making statements to encourage currency devaluations and spook markets
— Sam Vinograd (@sam_vinograd) August 10, 2018

Turkey's parliament talks

PeraclesPlease — Sun, 12 Aug 2018 10:27:31 +0000

In reply to China will buy Turkey on the cheap

Turkey's parliament talks back

Analysis: Turkey sees long

artappraiser — Sun, 12 Aug 2018 08:19:52 +0000

In reply to China will buy Turkey on the cheap

Analysis: Turkey sees long-term partner in China

President Erdogan says his nation, amid crisis with Washington, may be forced to seek out 'new friends'

By Altai Atli @ ATimes.com, Aug. 11

Turkey’s President Recep Tayyip Erdoğan, his nation’s currency in free fall, on Friday criticized “unilateral actions against Turkey by the United States, our ally of decades.” In an op-ed in The New York Times, he said that if such actions continue, Turkey will be required “to start looking for new friends and allies.”

China is surely one of those potential “new friends,” as evidenced by the fact that economic relations between the two countries, fueled by increasing expectations triggered by the Belt and Road Initiative, have been on a significant rise recently.

In the short term, as the Turkish economy goes through dire straits and the local currency continues its slide, Turkey needs – more than ever – to secure external financial resources. Access to Chinese finance is, under these circumstances, more than welcome for Ankara.

Yet what Turkey expects from China as a “new friend” is more than saving the day for the economy.

A 100-day action plan released by the Turkish government last week [....]