Block Division Between the G20 and the SCO and Turkey's Balancing Policy
As the economic war between the G20 and the SCO deepens in the global economy, Turkey assumes the position of a safe haven through its balancing policy between the two poles.
While block formations and the economic war between the G20 and the Shanghai Cooperation Organisation continue to deepen worldwide, Turkey positions itself as a safe haven and central country through the balancing policy it pursues between the two major poles.
Deepening Block Division in the Global Order
The world economy is passing through a historical turning point where the free trade order established after the Second World War is fracturing and block division is becoming the norm.
The G20 and SCO Confrontation
While the Shanghai Cooperation Organisation Meeting was being held, the G20 countries meeting took place on the same dates. The decisions made will deeply affect the destinies of nations.
Structure of the Western and Eastern Wings
On the Western wing lies the G20, representing 85 percent of global gross domestic product, while on the Eastern wing is the SCO, backed by the demographic weight of the Eurasian geography.
Alternative Quests in Financial Systems
The US use of dollar dominance as an instrument of sanctions causes friction between the two blocs, and trade with alternative payment instruments and local currencies is intensifying on the Eastern wing.
Turkey's Strategic Position
By pursuing a balancing policy, Turkey takes part in the decisions of both the G20 and the SCO, positioning itself as a new polar country.
Production Base and Logistics Hub
The G20's search for secure supply makes Turkey a production base, while the corridors developed by the SCO turn the country into a critical logistics center.