When you search Lira, it would pop out all like these:
Turkey currency hits new recode low;
Turkey “ on verge of meltdown” as lira plunges again;
Lira crisis rages on with fresh fall against the dollar;
When I read those news, my heart is broken, as we have goods friends in Turkey. Today we emailed to them, hope them hold on, and think twice before make deposit of the new orders, we don’t hope they lose money when goods arrive, if we make money from it, it’s a shame and we would rather not to do it.
Why Turkish Lira slumped suddenly to a record low? It seems all start from Trump not happy when Erdogan refused his request to release that American, making the “big brother” feel “a total disgrace”, then Trump gave Turkey a lesson and Lira immediately collapsed when Trump saying:” our relationships with Turkey are not good at this time”.
We all know that’s just a trigger, there are underlying reasons like Turkey’s economy itself. We don’t know if there is any financial contagion, first from Argentina, now Turkey. If 2008 financial crisis start from developed market America, 10 years later, it begin from emerging markets. Oh, I didn’t want to say 2018 the new round of financial crisis is coming, I don’t want to admit it, I don’t like financial crisis at all, but, but it smells like that…. (heart broken, cry….)
What we can do? We have to go on, go to gym to keep good health and good sleep, take care of all the orders while do more strict QC for all goods shipped out, offer better services, give stronger support whenever whatever our friends need us. Because we are not only our clients’ supplier, we are their Chinese backup forever.
Love you all!