An exchange business in Istanbul. (By Associated Press)
MOEA will continue to monitor developments in the U.S.-Turkish dispute
Taiwan News
Date: 2018/08/15
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – The drop of the Turkish lira following sanctions by the United States has caused global markets to slide, but so far, no chain reaction has appeared affecting other countries, the Ministry of Economic Affairs (MOEA) said Wednesday.
Some observers made comparisons to the 1997 Asian regional financial crisis, worrying that Turkey’s problems might trigger a similar international wave of financial and economic emergencies.
However, Turkey’s problems were its own, and so far, there were no signs that a chain reaction affecting other enemies was likely, said Kung Ming-hsin (龔明鑫), deputy economics minister.
There was no need to be nervous, though the MOEA would continue to monitor the evolution of U.S.-Turkish relations, the official said, according to the Central News Agency. [FULL STORY]