It appears that Turkey’s capital-owning class largely agrees that the pandemic has brought two opportunities. The first has to do with broadening their vast exploitation of labor. The second has to do with obtaining a strategic place in the global supply chain, which is expected to break off from China.
Turkey has room for further fiscal stimulus to combat the economic impact of the coronavirus outbreak as its response so far has been “pretty moderate” compared with other countries in similar positions, a Fitch Ratings executive said on April 23. The steps announced by the Turkish government so far are equivalent to around 2% of GDP, he added.
Murat Yetkin writes: It is a cliché to say “a photo tells a thousand words” but it is true most of the time. Does this photo taken when the doors opened after talks between Turkish President Tayyip Erdoğan and his Russian host Vladimir Putin at the Kremlin tell anything positive and promising to you? Erdoğan will have to find a way to normalize relations with his European and American allies, considering that it can no longer rely on a permanent relationship with Russia.