London: – The United States may have increased the import taxes on goods from Turkey to teach them a lesson, but in reality, it appears to have affected the billionaire investors having substantial capital investments in Turkey. These include Barings, J.P. Morgan Asset Management and Edmond de Rothschild. Thus, these investors also seem to be among those issuing warnings to President Trump over his action against Turkey.
There is a significant economic turmoil in Turkey, and the Turkish Lira has fallen by 28% in the month of August. Also, the Turkish share market is on a downward slide which has hit the international investors having massive investments in the country. These mainly include leading investors based in the United States. The investments from Barings, J.P. Morgan Asset Management and Edmond de Rothschild have been threatened and are experiencing a reduction in value every day.
The US media and economists have begun issuing warnings to President Trump against the sanctions imposed on Turkey. They are of the opinion that the sanctions imposed on Turkey and other countries will prompt them to come together and isolate the United States. A few days ago, renowned investor Jacob Rothschild targeted Trump’s policies during the RIT’s half-yearly conference.
‘The International Monetary Fund since its inception after the World War II is under threat today. Leaders like President Trump, implementing the populist and protectionist policies are gaining support. It could be termed as dangerous in the current scenario of financial uncertainty. Such policies make it impossible to combat the global challenges in a collective manner,’ warned Jacob Rothschild.
‘The major countries of the world had united to face the 9/11 attack on the United States and the economic recession in 2008. It has become difficult to establish such collaboration in today’s times. Therefore, the International Monetary Fund (IMF) and security measures formulated after the World War II are under threat,’ clarified Rothschild.
‘The European debt crisis and trade war are the critical challenges faced by the global economy. These challenges have threatened the economies of the developing nations as well,’ pointed out Rothschild.