TR Economy & Updates

[Heartbang]

@B_ATAMAN @Ryder
Its less about working, and more about fleecing. Listen to this man's escapades to get an idea

 

[B_A]

@B_ATAMAN @Ryder
Its less about working, and more about fleecing. Listen to this man's escapades to get an idea

The white westerner love them so much,　who know how many technology they gave CHina in these 30 years

 

[Ahlatshah]

The white westerner love them so much,　who know how many technology they gave CHina in these 30 years

China put a mandatory Transfer of Technology to the foreign companies for years, in order to sell your products in such a huge market you gladly do it, with this money you develop new techs anyway. Now, with this know how, Chinese create their own technology,

I must say Chinese are hardworking people and have perseverance. Also they have excellent education system and equally important deep-rooted meritocracy tradition. Barring political turmoil, they will be the one who can challenge USA, not now but in the future, both economically and scientifically (they are already leading number of scientific article published)

 

[B_A]

Increase taxes of Chinese import products by 200%.

After our economy become normal,we should push the Uyghur issue,China will angry and sanctions us,then we can sanction their goods.

 

[Bozan]

After our economy become normal,we should push the Uyghur issue,China will angry and sanctions us,then we can sanction their goods.

By the time the economy becomes normal there won't be any Uyghurs left

 

[Bogeyman]

World Bank in Talks to Double Turkey Exposure to $35 Billion​

• Bank to mobilize new $18 billion, adding to existing programs
• Funds to help stabilize Middle East’s largest non-oil economy

The World Bank is in advanced talks to potentially double its exposure to Turkey to $35 billion to help stabilize the Middle East’s largest non-oil economy, according to people with direct knowledge of the matter.

The discussions include a World Bank pledge of as much as $18 billion for projects over the next three years, in addition to more than $17 billion in programs already in place, the people said, asking not to be named because the talks aren’t public. The funding would include direct lending to the government as well as support for the private sector, the people said.

Turkey’s Treasury and Finance Ministry declined to comment on the talks. The World Bank also declined to comment.

The Turkish lira pared its lossets and credit-default swaps fell while the banking index rose as much as 4% on the news.

A deal would mark a vote of confidence in the newly-installed economic administration of Treasury and Finance Minister Mehmet Simsek and central bank Governor Hafize Gaye Erkan. Since they were appointed in June, Turkey has begun to undo years of unconventional, growth-at-all-costs economic policies pushed by President Recep Tayyip Erdogan until his re-election in May. Simsek and Erkan are leading efforts to rein in runaway inflation and put the nearly $1 trillion economy on a more sustainable path.


The World Bank expects two-thirds of the $18 billion to go to Turkey’s private sector through direct investment and guarantees, the people said. Some of the funds would be used to provide short-term guarantees for trade finance and support Turkish exporters, they said.

Quake Reconstruction​

The program currently under discussion highlights the World Bank’s support for Turkish policymakers’ efforts to restore macroeconomic stability, according to excerpts from a draft document viewed by Bloomberg. Simsek and Erkan met with Ajay Banga, the president of the Washington-based lender, in India in July, Turkish state media reported at the time.

Some of the newly dispatched funds will likely be allocated to help in reconstruction of areas devastated by two massive earthquakes that struck Turkey’s southeast on Feb. 6, killing more than 50,000 people.

The government has pledged to build some 200,000 residential units within a year for survivors, and estimated the cost of reconstruction at about $100 billion. The World Bank has already extended a €910.5 million ($980 million) loan to Turkey for rebuilding, part of its existing $17-billion allocation.

Financing Gap​

Following the earthquakes, Turkey’s current-account deficit widened to about 6% of gross domestic product, as exporters in the affected areas suffered outages and ultra-low borrowing costs encouraged imports.


Erdogan went on a tour of the Middle East Gulf in July, returning with pledges of tens of billions of dollars in investments from the United Arab Emirates and Saudi Arabia. The arrangement with the World Bank would mark the biggest source of external financing since Erdogan’s visit to the Gulf petrostates.

Bloomberg - Are you a robot?

 

[Bozan]

World Bank in Talks to Double Turkey Exposure to $35 Billion​

• Bank to mobilize new $18 billion, adding to existing programs
• Funds to help stabilize Middle East’s largest non-oil economy

The World Bank is in advanced talks to potentially double its exposure to Turkey to $35 billion to help stabilize the Middle East’s largest non-oil economy, according to people with direct knowledge of the matter.

The discussions include a World Bank pledge of as much as $18 billion for projects over the next three years, in addition to more than $17 billion in programs already in place, the people said, asking not to be named because the talks aren’t public. The funding would include direct lending to the government as well as support for the private sector, the people said.

Turkey’s Treasury and Finance Ministry declined to comment on the talks. The World Bank also declined to comment.

The Turkish lira pared its lossets and credit-default swaps fell while the banking index rose as much as 4% on the news.

A deal would mark a vote of confidence in the newly-installed economic administration of Treasury and Finance Minister Mehmet Simsek and central bank Governor Hafize Gaye Erkan. Since they were appointed in June, Turkey has begun to undo years of unconventional, growth-at-all-costs economic policies pushed by President Recep Tayyip Erdogan until his re-election in May. Simsek and Erkan are leading efforts to rein in runaway inflation and put the nearly $1 trillion economy on a more sustainable path.


The World Bank expects two-thirds of the $18 billion to go to Turkey’s private sector through direct investment and guarantees, the people said. Some of the funds would be used to provide short-term guarantees for trade finance and support Turkish exporters, they said.

Quake Reconstruction​

The program currently under discussion highlights the World Bank’s support for Turkish policymakers’ efforts to restore macroeconomic stability, according to excerpts from a draft document viewed by Bloomberg. Simsek and Erkan met with Ajay Banga, the president of the Washington-based lender, in India in July, Turkish state media reported at the time.

Some of the newly dispatched funds will likely be allocated to help in reconstruction of areas devastated by two massive earthquakes that struck Turkey’s southeast on Feb. 6, killing more than 50,000 people.

The government has pledged to build some 200,000 residential units within a year for survivors, and estimated the cost of reconstruction at about $100 billion. The World Bank has already extended a €910.5 million ($980 million) loan to Turkey for rebuilding, part of its existing $17-billion allocation.

Financing Gap​

Following the earthquakes, Turkey’s current-account deficit widened to about 6% of gross domestic product, as exporters in the affected areas suffered outages and ultra-low borrowing costs encouraged imports.


Erdogan went on a tour of the Middle East Gulf in July, returning with pledges of tens of billions of dollars in investments from the United Arab Emirates and Saudi Arabia. The arrangement with the World Bank would mark the biggest source of external financing since Erdogan’s visit to the Gulf petrostates.

Bloomberg - Are you a robot?

Re-Dollarization

 

[B_A]

The figure came in higher than market expectations. Estimates in Reuters and Bloomberg surveys were for a deficit of $4.5 billion. The balance registered a $3.5 billion deficit in July last year.

The gap for the January-July period reached $42.3 billion, the central bank data showed, nearly matching the government’s year-end forecast of $42.5 billion that was outlined in the new medium-term program, unveiled last week.

 

[Huelague]

Their parents dont accept any kind of failure

Any idea what this could mean for learning process?

 

[Ryder]

Any idea what this could mean for learning process?

Either they learn to achiever or higher or the pressure gets to them. The problem is they wont settle even for a 90 score.

Pressure is especially huge on Japanese males.

 

[B_A]

Either they learn to achiever or higher or the pressure gets to them. The problem is they wont settle even for a 90 score.

Pressure is especially huge on Japanese males.

Our males havent any pressure,they still didnt want to run now

 

[B_A]

Turkey, at the crossroads of the “new silk roads”​

Published on :09/08/2023 - 1:10 p.m.
Listen - 19:30
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Fifth episode of our series “new silk roads, ten years later”. Turkey occupies a central place, between Europe and the Orient. China has understood this well by investing massively in this country. A partnership that is often advantageous to him. But Covid-19 and the war in Ukraine have reshuffled the cards.

The “New Silk Roads” are at a crucial moment in Turkey. © Baptiste Condominas/RFI
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You have to cross the Bosphorus, a strait that connects the Black Sea to the Sea of Marmara, to get from one side of Istanbul to the other. Turkey's largest city straddles the European and Asian continents. On the European side, in the historic district of Sultanahmet, Chinese tourists have reappeared after Covid. They visit Hagia Sophia, Topkapi Palace and the Grand Bazaar. Losing yourself in its streets lined with colorful shops, you will find ancestral traces of the Chinese presence.
Adnan's antiques shop, 40 years in the business, contains more than one treasure including two old Chinese porcelain vases, blue and white. “ They date from the 19th century to the beginning of the 20th century,” says the seller, “ and were used to transport zamzam water, the sacred water from Mecca to Saudi Arabia. The Chinese produced a lot of white and blue ceramics from the 15th century onwards for the Topkapi Palace, where the world's largest and most luxurious collection of white and blue porcelain dating from the Ming period can still be found today. ,assures Adnan. Chinese porcelain for the sultan who lived in the Topkapi Palace, at the time when Istanbul was still called Constantinople. To transport these treasures, it was necessary to take the land silk routes before they were gradually supplanted by sea routes.

Adnan, antiques seller, at the Grand Bazaar in Istanbul. © Murielle Paradon/RFI

The port of Kumport, near Istanbul, bought by the Chinese​

Today, China still sends part of its products by sea to Turkey, an obligatory passage between the East and the West. And to ensure its outlets, it even had the luxury of purchasing the third goods port in Turkey: Kumport, an hour from Istanbul. The Chinese shipowner Cosco acquired it in 2015, buying 65% of the shares. Since then, the port has been operating at full capacity, or even beyond capacity, according to Hakan Yakupoglü, customs manager for the maritime freight company Narin. “ Almost all Chinese companies use the port of Kumport, 80 to 90% of boats arrive here ,” he explains, in front of an incessant ballet of trucks transporting containers. “ This creates overactivity which can slow down the arrival and dispatch of containers, with delays of 2 or 3 days sometimes .
Chinese goods arrive in Turkey by boat, at this port bought by the Chinese, but not only that. As part of the “new Silk Roads” launched 10 years ago by President Xi Jinping, China has invested in railways, highways and bridges. “ Beijing wants to take advantage of Turkey's central position to expand into the Eastern Mediterranean ,” summarizes Tolga Bilener, China specialist at the international relations department at Galatasaray University in Istanbul, and reach a Turkish market worth 85 million people. consumers ”.Trade has surged from $10 billion in 2010 to $45 billion today, the researcher said, making China Turkey's third-largest trading partner, but with a clear advantage for Chinese companies that export many more products than they import.

Kumport, bought by the Chinese shipowner Cosco, near Istanbul. © Murielle Paradon/RFI

China, Turkey's third trading partner​

To see this, just go to the Beauty Eurasia show, which took place in mid-June near Istanbul. Chinese exhibitors have come in force and they are selling everything: cosmetic packaging, false nails, and laser equipment. These multifunctional machines which remove hair, reduce cellulite and remove tattoos, are made in China, explains Rock Duan, sales director of Perfect laser, at his stand: “In China, we have factories that manufacture all the components for this type of machines, engineers who have 10 to 20 years of know-how, and lower manufacturing costs, these are advantages . ”The company is looking for distributors in Türkiye, a market with a large population. The country also occupies a central place “ close to the Middle East and Europe, right in the middle!” “, he specifies.
Sohar, who works at the head of Nikarich system, a distributor of this type of machine in Turkey, is very interested in Chinese products: “ We use a lot of Chinese products in Turkey, because unfortunately the equipment that comes from Europe or from America are too expensive for the Turkish market. Before I worked a lot with Russian companies, but in terms of customs it is simpler between Turkey and China, to send our payments to China too . Easier procedures, lower prices, the advantages are numerous but, according to Sohar “ we must also recognize that products made in China are not necessarily of good quality, we choose them because they are cheaper ” .

 

[B_A]

We are destroying by Chinese junk products

 

[Huelague]

Either they learn to achiever or higher or the pressure gets to them. The problem is they wont settle even for a 90 score.

Pressure is especially huge on Japanese males.

No process without making mistakes.

 

[Huelague]

China are not necessarily of good quality, we choose them because they are cheaper ” .

Our government should change the minimum requirement the quality of goods ( Standards), to make imports from China more expensive.

 

[B_A]

And the Chinese tourists are so funny they flight 5000 km to Türkiye then buy back the products which made in China.

With the current acount deficit the inflation will never end

 

[Huelague]

Look what EU will do against cheap electric vehicles from China.

 

[TheInsider]

China is not the old China anymore. China can produce low-quality products for extremely low prices, mid-quality products for low prices, and quality products for affordable prices. It is really hard to compete against Chinese industrial production capacity. On top of this China is progressing in high-tech critical subsystems. Just a few days ago China unveiled the Huawei Mate 60 with a national 7nm chip produced by SMIC. This paves the way to %100 made-in-China phones.

Chinese-made 7nm chips in Huawei phone raise questions over US export ban

The discovery of 7nm, 5G-enabled chips in Huawei’s latest phone has sparked an investigation by the US Commerce Department into how the country was able to acquire the technology.

www.computerworld.com

 

[Bogeyman]

https://twitter.com/i/web/status/1701851493668643310

US financing is coming to the $1.7 billion petrochemical facility project planned to be built in Adana's Ceyhan district, the main shareholder of which is a Turkish company.

The American International Development Finance Corporation (USIDFC) will provide $550 million in financing for the facility. Approval came from the board of directors last week

There are very high-level names on the board of directors: US Secretary of State Blinken, Treasury Secretary Yellen, Commerce Minister Raimondo and Agency for International Development (USAID) President Power.

 

[Sanchez]

USIDFC is a state "company", but it acts more of a federal government agency. They finance projects in mid and low income countries.

They currently have 9 active projects in Turkey, for a total of 1.7bn. God bless the transparent government institutions.

Active DFC Projects - Map View

www3.dfc.gov

Comparing it on the map, Turkey looks to be one of the biggest recipients of the financing USIDFC provides since the agency was started.