Share

Turkey is rapidly increasing economic relations with China: 5 Geopolitical Effects You Need to Know

1. Turkey’s growing economic bond with China

Turkey’s economic relations with China in recent years have been growing fast, and gone under the radar of international attention. According to China’s ambassador to Turkey, Chinese investment in Turkey will reach $6 billion in 2021. The current volume of Chinese investment in Turkey is around $3 billion with over a thousand Chinese companies operating in Turkey. Furthermore, Trade volume between Ankara and Beijing reached about $24 billion in 2018. Turkey imported products from China valued at around $21 billion, while export products were valued at around $3 billion. Turkey’s economic links with China are rapidly growing, which should be worrying for the US, but Turkey has appeared to use Russia as a smokescreen.

2. Turkey received $1 billion cash boost from China

In another signal of not only Turkish but Chinese intentions to develop relations, China’s central bank transferred $1 billion worth of funds to Turkey in June, Beijing’s biggest support package ever for President Recep Tayyip Erdogan delivered at a critical time in an election month. The cash infusion boosted Turkey’s foreign reserves around the time of Istanbul local elections that had left international investors fretting about the country’s political and financial stability. The Chinese funds show Turkey is making headway in its efforts to diversify sources of foreign investment amid unprecedented tensions with the West, and the US should question whether sanctioning Turkey would now be worth it.

Subscribe to unlock the other 3 Points

We wish we didn't have to do this, but only paid subscribers can read the full article, Unlike other publishers, we are not the beneficiaries of State funds and are entirely dependent on our supporters to keep KJ Vids functioning. Please subscribe to read the rest of the article.

By investing in KJ Vids, you are investing in yourself

Our content succinctly contextualises the key geopolitical trends you need to know in order to make sense of world events. We can assure you that a regular dose of our content will be as healthy as fruit and vegetables for your mind. Subscribe for only £10 a month.

SUBSCRIBE TO READ FULL

Readers from around the world, like you, make KJ Vid's work possible. We need your support to deliver quality, well-researched analyses. At a time when factual, honest reporting is critical, your support is essential in protecting our editorial independence. Your subscription to KJ Vids will help keep us alive and be an invaluable form of support for us.

Subscribe or Contribute
Subscribe from £10 a month

Invest in yourself by investing in KJ Vids. Get full access to original, quality analyses and fresh perspectives on global issues

Invest in yourself by investing in KJ Vids. Get full access to original, quality analyses and fresh perspectives on global issues

Contribute to KJ Vids

We are completely independent and have no partisan bias. Help us keep it this way by donating as much as you can to help us grow

Donate Now
Scroll to top