Turkey’s Currency Meltdown
Investors flee the lira amid Erdogan’s political central banking.
By The Editorial Board
May 23, 2018 6:21 p.m. ET
Investing in emerging markets is like watching the tides without the moon as a guide. Capital flows in and out in surges, and woe to the country that gets caught with bad policies when the tide suddenly goes out. Argentina has been getting that re-education of late, and now Turkey is watching capital flee for safer climes.
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