Archives Economic crisis - Page 7 of 11 - New Eastern Outlook

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…

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…

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…