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Снимка: tccb.gov.tr

The backstage role of Schroeder.   President Erdogan seems intent to further expand the impact zone of the S-400 deal – testing the tolerance of his partners in NATO and the EU. Both are contemplating sanctions which seem too lenient to bite yet indicate a path that has no worst-case scenario beyond the realm of the possibility. Volkswagen’s investments in Turkey, with the heavy lobbying of the key Kremlin asset ex-Chancellor Schroeder, inevitably will face huge and potentially escalating tough-to-mitigate political risks.   No immediate collapse foreseen – slowly evolving strategic shift   To start with – the nature and the timeline of the risk evolve in time. Although no immediate collapse in Turkey is foreseen as part of Erdogan’s departure from Kemal Ataturk’s European and part of the West identity, the

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chinа1

  For the past several months now, the US media is obsessed with dire predictions of a calamitous trade war between China and the US, following numerous statements by  president Trump that the Chinese trade surplus is intolerable. Indeed, at $506 billion of Chinese exports against only $130 billion of US ones, it does look very unfair. However, things look a bit different if looked at from a different angle. The Chinese value added, for instance is only 45%, which means that 55% is first imported there to be assembled and re-exported. The US value added is 92%, India’s 87%. Secondly, German trade surplus with the US is not far behind China’s and, unlike China, which fills the aisles at Walmart with cheap goods, Germany produces and sells large numbers