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
Richard Harris
Opinion

Opinion

The View by Richard Harris

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

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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
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