The Flipside of Turkey
Jan Dehn, Head of Research, Ashmore Investment Management
Published: 12 September 2018 12:08
United States sanctions against two Turkish government ministers triggered the recent bout of volatility in the Turkish currency market. While Turkey was fundamentally vulnerable to begin with, due to a lengthy period of bad economic policies, the fact that volatility was so severe and spread far beyond Turkey indicates that this was not just about Turkey. It is also about the major shift in America’s use of soft power on the global stage.