Unless you’ve been asleep for the past 72 hours you’ve no doubt heard that Turkey shot down a Russian fighter jet. Of course, whether the Russian fighter jet did or did not cross into Turkish airspace is debatable.
What is not debatable, however, is the rising tension between the two countries, which seems to be leading to a trade war. Though less grave than a military conflict, it could ignite a rout in Emerging Markets and their currencies.
What Ignited the Mess
Even before the unfortunate incident it was clear that tensions between Moscow and Ankara were heating up. The reason for that is a very clear conflict of interest between Russia and Turkey over what’s happening in Syria. More specifically, it involves the area of Turkey’s border with Syria. Continue reading "The Perils Of A Russian Turkish Conflict"