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

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…

On the eve of its 100th anniversary, the Republic of Turkey is experiencing a difficult period due to a severe economic crisis and tense relations with the United States. Inflation has broken new records and has already reached 60%, while the Turkish lira has plummeted to 27.2 per US dollar. Strategic stability has yet to be attained, no matter how much Mehmet Şimşek, Minister of Treasury and Finance, strives to follow international economic rules and bind himself…