World Bulletin / News Desk
"Economic hitmen" are targeting emerging economies like Turkey, John Perkins, economist and author of Confessions of an Economic Hit Man, said.
“I have no doubt that there are economic hitmen targeting emerging economies like Turkey’s,” Perkins said on Monday.
“These days, they work for many different governments not just the United States. They also work for every major corporation. They pit one country against another in order to arrange huge tax benefits, wage rates and other labor conditions, and numerous other policies that benefit their corporations, but hurt the people of the country.” he said.
He added that Turkey could make use of new souces of external financing by diversifying its options.
“I would encourage Turkey to stay away from the IMF [International Monetary Fund]. Today there are many other options, like the one from Qatar. Countries like Turkey should use the leverage these offer, forcing the IMF and other financial institutions from China, United States, and the Gulf countries to compete with each other. That way Turkey will have many options to strike better deals. It should do everything possible to avoid more foreign debt,” Perkins said.
“I can say that the emerging markets should stand strong against debt. Countries like Iceland, Argentina, and Ecuador provide an example of how this can be done. My advice to emerging market countries is that they band together, refuse to pay debts they were taken on unjustly, through corruption, or by governments that were not supported by the citizens.
“Countries like Turkey should definitely be negotiating with Russia, China, the Gulf countries, etc. I don’t think they necessarily need to form alliances, but should use the leverage these countries offer to strike deals that are much more beneficial to their people.”