By Mehmet Enes Beşer For decades, Southeast Asian economies have been plugged into a system controlled by the U.S. dollar. In trade settlements and sovereign reserves, in cross-border investments and financial benchmarks, the dollar was not just a currency—it was the linchpin of regional economic integration. But now, across the region—Jakarta to Kuala Lumpur, Bangkok to Manila—stealthy but determined steps ...
By Mehmet Enes Beşer America has occupied a unique position in the world order for decades now—not only as a superpower but also as a financial and institutional safe haven. In crises, capital seeks refuge in the U.S., its Treasury bonds are deemed risk-free assets, and its political system—dysfunctional at times—is presumed to be undergirded by a foundation of checks, ...
Türkiye has opposed Western sanctions against Moscow. Bilateral trade grew almost 100% from 2021 to 2022 to $68 billion according to Turkish Ministry of Trade. Turkish companies have investments in construction, textiles and household appliances in Russia, which in turn supplies a large part of the energy consumed by Türkiye. But in December of last year President Biden signed the ...