China’s trade surplus with the US rose sharply in September ahead of Trump sanctions

China reported a record trade surplus with the United States despite the ongoing economic dispute between Beijing and Washington. According to a report from Agence France Presse (AFP), the excess is worth around $34.1 billion as of September. Currently, China is exporting more than $46 billion worth of goods to the US, while only importing […]

Syria to receive new S-300 air defense system from Russia

Russia will soon supply the Syrian government with an upgraded air defense system, the S-300. The two-week transfer timeline for the S-300 to Syria is making many nervous, as it would significantly degrade Israel’s ability to conduct airstrikes in the same way it has for years. This could lead to drastic changes in the way […]

Why are oil prices up? Several factors

Crude oil prices rose sharply Wednesday, driven up by a decline in the U.S. oil supply, and the expected effects of a new wave of sanctions on Iran. Iran is an influential member of the Organization of the Petroleum Exporting Countries (OPEC) and one of the worlds largest oil producers. Brent crude, a benchmark oil, crossed […]

Boeing says China will need around 7,700 new aircraft over the next twenty years

The Boeing Company revised its estimate of the number of new aircraft it expects Chinese airlines to buy between now and 2038. According to Reuters, in the next 20 years, Chinese airlines will spend about $1.2 trillion on around 7,690 new planes. The current prediction is about 6 percent higher than the previous forecast of […]

Japan’s second quarter economic growth fastest rate in 2 years

The Japanese economy boasted its fastest growth rate in two years during the second quarter, according to a report from CNBC. This new push is aided significantly by the increase in capital expenditure, which comes earlier than previous forecasts. Between April-June, the Japanese economy grew 3.0 percent, surpassing the median predicted growth rate of 2.6 […]

US, Canada still looking to reach NAFTA agreement

Negotiators from the U.S. and Canada are hoping to reach a deal on the ongoing North American Free Trade Agreement (NAFTA) talks currently underway this week in Washington. According to Reuters, while delegates from both countries worked to advance the talks further on Thursday, several crucial items remain to be settled. “We are making good […]

Oil up slightly as Japan agrees to cease importing Iranian crude

On Monday, several crucial Japanese oil wholesalers announced that come October the firms will cease importing Iranian oil. The announcement, which comes after increased U.S. pressure and the threat of sanctions on any country doing business with Iran, has already caused oil prices to rise, according to a report from Reuters. Japan had been in […]

As lira crumbles, Turkey loses influence in northwestern Syria

The Turkish lira fell further against the U.S. Dollar on Tuesday, as the ongoing feud between Ankara and Washington continues without any signs of a resolution. According to Reuters, the dispute between the two NATO countries has been exasperated by the imprisonment of an American Pastor, Andrew Craig Brunson, who faces terrorism charges related to […]

Turkish state run media leaks classified information on US military bases in Syria

Turkey-United States relations are strained, what started with the detention of an American pastor and the levying of tariffs has worsened after a serious breach of military operational security. This is especially significant given the two NATO members close military cooperation, an air base in Turkey, and coordinated training efforts. In the most recent act […]

What’s happening to Turkey’s economy?

The Turkish economy is in deep trouble. The lira lost 20% of its value against the U.S. dollar on Friday. The reasons for that were varied, and it was a storm many saw coming. However, what brought it faster than expected was the political climate and the poor state of Turkey-U.S. relations, largely due to […]

Tourism skyrockets as Turkey’s financial crisis worsens

The Turkish lira has collapsed — this, in turn, has caused serious problems for Turkish importation capabilities. Despite this, deal-hunting tourists have been pouring into the country to cash in on Turkey’s economic misfortune. The majority of tourists come from Asia and Saudi Arabia. With long lines outside luxury brand stores in Istanbul, capitalizing on […]

US-Turkish relations strained following economic and political disagreements

The United States has found itself at odds with Turkey because, despite its sanctions strictly aiming to target Iran, they’re impacting Turkey. President Donald Trump announced last week that new tariffs would be put into effect that would specifically target Turkish aluminum and steel. In turn, this has caused the Turkish lira to drop dramatically. […]