In Search of Economic Relief, Turkey Reaches Out to Regional Rivals

Turkey’s push to rebuild its economic and diplomatic relations with regional rivals won’t be enough to solve the macroeconomic problems produced by its domestic policy choices. On Feb. 14, Turkish President Recep Tayyip Erdogan visited the United Arab Emirates in a landmark event designed to signal improved ties between the two countries after years of informal boycotts, rhetorical threats and proxy theater competitions in Libya, Somalia and Egypt. During the visit, Ankara and Abu Dhabi pledged to work together in research, defense and the economy. Days later, a $3 billion Turkish bond sale saw heavy participation from Emirati investors.  ...