Marc Faber, known for his forecast regarding crisis in global financial markets, stated that Turkey had options on alternative co-operations and it was time to invest in Turkish assets, adding he would buy some Turkish stocks.
Marc Faber, the publisher and editor of "The Gloom, Boom & Doom Report" said the foreign and economic policies of the USA were not correct and added "Trump is not conducting diplomacy in foreign policy. Instead, he is behaving “like a bull in a china shop” as the idiom goes. He is picking on everybody but at the end of the day there is no diplomacy, practiced. "
Mr. Faber shared that in the aftermath of recent developments Turkey had alternative options in hand and drew attention to the point Turkey could play the NATO card against Trump as NATO had very strategic bases in Turkey.
He went on to share the following as well:
“Turkey has two options available in the long term: It can get closer to Europe and stay in NATO or join the Shanghai Cooperation Organization. The latter would mean Turkey has abandoned the western block or it would have weaker relations with it and build stronger relations with Russia and China. This is a possibility within Mr. Erdogan's capability. I believe Trump does not grasp that this is a strong possibility.”
Regarding Turkish assets Marc Faber said the following:
"Turkish shares are valued over US dollars. At the moment they are in the buy-in limit. I will get some Turkish stocks. At the moment I have some Turkish stocks in my portfolio, though not plenty. I think it's time to invest in Turkish assets. "