People wait at a currency exchange shop in Istanbul on August 15. The Turkish lira has nosedived in value in the past week, but some Turks are reacting with defiance to their plunging currency and an escalating trade and political dispute with the United States. Photo: AP
Opinion
Opinion
The View
Forget the trade war – it’s the strong US dollar that should really make us worry
Richard Harris says the strength of the US currency is bad news for economies with large trade deficits, budget problems or – like Turkey – enormous foreign borrowings. If the strong dollar continues, a global slowdown can’t be ruled out
People wait at a currency exchange shop in Istanbul on August 15. The Turkish lira has nosedived in value in the past week, but some Turks are reacting with defiance to their plunging currency and an escalating trade and political dispute with the United States. Photo: AP