Archives Economics - Page 10 of 24 - New Eastern Outlook

According to the Statistical Service of Kazakhstan, the total volume of goods transported by rail between Kazakhstan and China reached 23 million tons as early as 2022 and grew by a record 22 percent last year. In view of this high volume of freight traffic and the clear upward trend, the Kazakh authorities are having to invest heavily in the development of new railroads in order to serve the growing freight volumes and enable the rapid and efficient delivery of goods through the country…

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…

Against the backdrop of the secondary sanctions adopted by the United States against countries that violate the embargo regime imposed on Russia, since the beginning of 2024 Turkey has started to take actions that are inconsistent with the course of the strategic partnership (at least in the sphere of trade and economic relations), willingly or unwillingly. In particular, we have witnessed the refusal of Turkish banks to accept payments from Russian legal entities and now from Turkish exporters of goods to the Russian market (except for agricultural products). Finally, some Turkish terminals have been refusing to accept…