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发帖数: 10330 | 1 China’s $3.6 bn bailout insulates Turkey from US
Beijing’s biggest support package ever for President Erdogan arrives at a
critical time
http://www.asiatimes.com/2019/10/article/please-brer-trump-dont-throw-me-in-the-bamboo-patch/
Despite the US threat to “obliterate and destroy” Turkey’s economy, the
Turkish lira and Turkish interest rates barely have budged in the past week
(Turkish stocks, especially banks, are down sharply, in part due to the US
criminal charges against Halkbank for aiding Iran sanctions violations).
That is remarkable given the fragility of Turkey’s currency earlier in 2019
. Between February and May, the Turkish lira fell from 5.2 to the US dollar
to 6.2 in response to US sanctions, before recovering to 5.88 to the dollar
today. The Turkish central bank leaned on Turkish banks to refrain from
offering liquidity to short-sellers, but Turkish money markets remained
orderly.
What changed is China. Turkish President Erdogan’s insolence in the face of
American threats brings to mind B’rer Rabbit’s imprecation to B’rer Fox:
“Please don’t throw me in the briar patch.” The relevant foliage in this
case is bamboo. | h****e
发帖数: 1 | | n*******g
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