Shashank Joshi, The Economist's defence editor, discusses the implications of the U.S. pausing military aid to Ukraine as a negotiation tactic, emphasizing its critical role in Ukraine's defense. He analyzes the potential consequences on military operations and diplomatic relations in Europe. Meanwhile, Carla Supirana shares insights from Turkey's bazaars, where stablecoins are transforming everyday transactions amidst economic challenges. The conversation also touches on innovative cultural events, including the Louvre's first-ever fashion gala, merging high fashion with art.
The suspension of U.S. military aid to Ukraine could severely impact its defense capabilities against Russia, shifting battlefield power dynamics.
Stablecoins have emerged as a vital financial tool in Turkey, helping individuals and businesses adapt to high inflation and economic challenges.
Deep dives
Importance of Site Selection for Business Expansion
Site selection is a critical factor for businesses aiming to expand their operations in the U.S. Choosing a location with a well-educated workforce, robust infrastructure, and favorable corporate tax rates can significantly influence a company’s success. North Carolina emerges as a prime candidate due to its strategic advantages, including access to both domestic and global markets. This early decision-making step lays the groundwork for effective business operations, making it essential for new ventures.
Impact of U.S. Military Aid Suspension on Ukraine
The suspension of U.S. military aid to Ukraine raises significant concerns about the military capabilities of the country amidst an ongoing conflict with Russia. This halt encompasses over a billion dollars' worth of arms, ammunition, and critical logistical support, which are vital for maintaining Ukraine’s defense operations. Experts highlight that a prolonged pause could severely damage Ukraine's artillery parity and air defense, particularly affecting systems like Patriot missiles. The implications of this pause are not just immediate; they could shift the balance of power on the battlefield, enabling Russian forces to gain leverage.
Stablecoins in the Turkish Economy
Stablecoins are increasingly utilized in Turkey as a means to navigate high inflation and economic instability. They function as a reliable store of value and facilitate transactions, allowing local businesses and individuals to bypass traditional banking delays. As many Turkish citizens deposit their savings in stablecoins, the currency has become an integral part of the local financial ecosystem, particularly in bustling marketplaces like the Grand Bazaar. However, concerns regarding transparency and regulation persist, as governments worldwide grapple with the implications of widespread stablecoin use in both legal and illicit activities.
In an effort to bring Ukraine to the negotiating table, America has paused military help to the war-torn country. What will this mean on the ground? Our correspondent explores a new cryptocurrency craze, visiting Turkey’s bazaars to meet people trading goods using stablecoins (9:43). And why the Louvre is staging its first fashion gala (16:00).