Archives Economic crisis - Page 9 of 11 - New Eastern Outlook

Under President Recep Tayyip Erdoğan, Turkey is currently going through something of a crisis in relation to its foreign policy, and its neo-Ottoman ambitions to revive its status as an imperial power. Or, in other words, along with Turkey’s growing economic crisis, it may also be suffering from a kind of “diplomatic stagnation” caused by a number of factors. NATO’s expansion to the North-East, or, specifically, Finland and Sweden’s accession to the alliance, was unexpectedly opposed by its easternmost member, Turkey. Ankara, using its influence with the Turkic states…

Apparently, financial crises do not occur overnight, because they are preceded by whole series of events and unsuccessful decisions related to financial market conditions, contradictions of internal financial policy and external dictate of world currencies, mistakes made by one’s own government, and any number of other factors. In this regard, financial experts are able to write entire books (treatises) with explanations of the causes leading to any given financial crisis. However, politicians often ignore the scientific…

In mid-September, Cuba hosted the latest meeting of the Group of 77, which was created in 1964 to promote collective economic interests. Today, the Group has 134 States, representing 80% of the world’s population. This meeting set out to “change the rules of the game” after centuries of domination by wealthy Western powers putting their own interests first. Cuban President Miguel Diaz-Canel said developing countries have been the main victims of the multi-dimensional crisis in the world today, “from abusive unequal trade to devastating climate change.” According to the Cuban leader, the North…