Archives Economic crisis - New Eastern Outlook
10.04.2024 Taut Bataut

The Red Sea holds immense significance in international maritime trade. Two choke points, the Suez Canal and the Bab al-Mandab, hold critical value in this sea route. Around 22 percent of global maritime container trade passed through the Suez Canal in 2023. Bab-el-Mandeb strait is used to access this Canal by ships traveling from Europe. The Red Sea hosts almost 12 percent of global trade, 21344 vessels per day, amounting to $1 trillion in goods, and 10 percent of maritime trade…

03.04.2024 Alexandr Svaranc

The Scottish aristocrat and British Prime Minister (1963-1964) Sir Alec Douglas-Hume once said: “There are two problems in my life. The political problems are insoluble and the economic problems are incomprehensible.” His words also reflect very closely the economic realities of modern Turkey. Recep Erdoğan and his Justice and Development Party (AKP) came to power in 2002 amid an economic crisis and widespread criticism of the economic policies of the previous government, led by Bülent Ejavit, which had seen the country’s GDP fall by 10 percent…

14.03.2024 Alexandr Svaranc

For more than two months since the beginning of 2024, the banking system and business in general in Turkey has been under unprecedented pressure from the United States in terms of secondary sanctions for the development of business relations with Russia in circumvention of Washington’s restrictive measures – embargo. Unfortunately, Turkish banks have started to refuse to accept financial payments from Russian companies and Turkish exporters to Russia…

05.03.2024 Veniamin Popov

In today’s world, tensions in international relations have risen sharply, with the US and its allies doing all they can to maintain their dominance and gain positions in the economy. Neo-colonial exploitation has led to the accumulation of enormous wealth in the West at the expense of developing countries. The world has faced several crises. First a pandemic hit our wallets, then a geopolitical conflict, natural disasters…

01.03.2024 Abbas Hashemite

With a record 3.5 million children seeking refugees inside and outside the country, the Sudan crisis has turned into another major children’s crisis, along with Gaza. More than 50 percent of Sudan’s population, 14 million of which comprises children, need humanitarian aid. According to Doctors without Borders, almost 13 children die daily in Sudan due to malnutrition, this is the second-highest number of deaths of children after Gaza. This crisis in the country has been…

01.03.2024 Alexandr Svaranc

The financial crisis in Turkey calls for a tight monetary policy and a tough banking regulator. But Turkey’s Central Bank is being headed by one US business school graduate after another. But how will Fatih Karahan be more successful than Hafize Gaye Erkan? In terms of its financial situation, Turkey is going through difficult times. In real terms, annual inflation in 2023 has reached 65% (and some independent sources claim it is as high as 128%), and, unfortunately, is still largely the same in February 2024. Wages are not growing in line with inflation, and the poverty rate is growing…

26.02.2024 Taut Bataut

Climate Change is undoubtedly the greatest existential threat facing humanity today. As wars rage around the globe and countries pursue economic and political policies that are causing ever-increasing fragmentation, scientists and climate activists find that their voices fall on deaf ears. The COVID-19 crisis exposed societies all over the world to the risks posed by large-scale shocks to the system of Global Value Chains (GVCs) that bring food from farmers thousands of miles away to our supermarkets and our tables. However, scientists argue that a climate change crisis…

15.02.2024 Nguyen Kien Van

At no time, at least in its modern history, has Myanmar ever been a peaceful place – and for that, the British Empire is to blame. For the sake of administrative convenience, London grouped together in one nation peoples of vastly different ethnic origins, languages and cultures who previously had no idea they were living together in a single country. Following its independence in 1948, Burma was driven by continuous localized conflicts between numerous ethnic groups and the central government…

07.02.2024 Boris Kushhov

Since the third quarter of 2023, the Mongolian public have been shaken by regular media reports of gasoline and diesel shortages in various parts of the country. Furthermore, to lend credence to these reports, a regular succession of publications have appeared stating just how many days’ worth of fuel are left in the country. This trend has become particularly evident since the Russian Federation introduced restrictions on fuel exports in 2023 to stabilize its domestic market. Mongolia receives more than 95% of all its fuel by rail from its northern neighbor, and more than 75% of all of Ulaanbaatar’s fuel imports come from Rosneft…

23.01.2024 Vladimir Mashin

There is an increasing number of conflict situations in the world today. Most of them are caused by unilateral actions of the US, which has claimed the right to interfere in the affairs of other states. In a unipolar world, Washington continued to enrich itself at the expense of other countries and people by fomenting conflicts in various parts of the globe. In the Pacific, the US is creating tension around Taiwan, using it to “contain” China, its main economic competitor. At the same time, it is provoking strife between the DPRK and the Republic of Korea…

11.01.2024 Boris Kushhov

November-December 2023 were almost unprecedentedly harsh months in Mongolia: most of the country was under a massive layer of snow, the thickness of which reached up to 50-60 centimetres in many regions. At the same time, mid-December was also frosty, with temperatures in some parts of the country dropping to -50 degrees Celsius. In addition to weather threats and challenges traditional for most countries and peoples of the world – such as failures in the work of transport, industrial enterprises, a sharp jump in injuries among the population, hypothermia…

09.01.2024 Boris Kushhov

The blatant negligence of transnational corporations towards their employees in developing countries is clearly visible in their activities in Kazakhstan, which is not for the first time the site of tragedies of colossal proportions caused by the negligence of employers: just remember the recent disaster at the Kostenko mine in October this year, which belonged to a subsidiary of Arcelor-Mittal. At that time, more than 40 miners died as a result of methane leakage caused by chronic safety violations…