Best of the Week
Most Popular
1.China Crash, Greece Collapse, Harbingers of Stock Market Apocalypse Forecast 2015? - Nadeem_Walayat
2.Gold Price Awaiting Outcome of Greece Crisis - Clive_Maund
3.Gold Price Peculiar 6 Month Cycles - Rambus_Chartology
4.Gold Price Just a Little Bit More - Bob_Loukas
5.8 Unprecedented Extremes Indicate a Stock Market Bubble in Trouble - EWI
6.Gold And Silver – Without Either, You Will Be Greeced - Michael_Noonan
7.Lies, Damned Lies and Statistics - James_Quinn
8.China Crash, Greece Crisis Harbingers of Stocks Bear Market? Video - Nadeem_Walayat
9.Gold and Silver Record Shorting - Zeal_LLC
10.Markets Big Deflationary Downwave Quick Reference Guide... - Clive_Maund
Last 5 days
The Fed Can't Stop the Commodity Bear Market - 1st Aug 15
Meet the Leader Who Turned Google Into a “Buy” - 1st Aug 15
The Greek Coup: Liquidity as a Weapon of Coercion - 1st Aug 15
Gold’s Amazing Resiliency - 31st July 15
Silver – A Century of Prices - 31st July 15
Demand for Gold Bullion Surges – Perth Mint, and U.S. Mint Cannot Meet Demand - 31st July 15
Reasons Why the Greek Crisis Will Only Get Worse - 30th July 15
The War On Cash: Why Now? - 30th July 15
Greece - The IMF Experts Flunk, Again - 30th July 15
Threat Of Cyber Warfare the “Other Reason To Own Physical Gold” Warns Rickards - 30th July 15
The 5 Biggest Myths and Lies about the Middle East - 30th July 15
Greece, Diversion, and the New World Order - 30th July 15
Ibuprofen Warning - The Pain Killer that can Kill You! - 29th July 15
More Ritholtz on Gold, and Another Response - 29th July 15
Crude Oil Price Is Lower – and You’re Richer - 29th July 15
U.S. Home Sales Market Is Dead – This Chart Proves It - 29th July 15
Greece- What Happens When Economists Talk Politics - 29th July 15
The Gold - U.S. House Prices Ratio As A Valuation Indicator - 29th July 15
Will Crude Oil Price Decline Continue? -Video - 28th July 15
Gold & Silver Money Has Devolved Into Debt and Plastic - 28th July 15
Buy and "Own Gold Krugerrands" Says Money Expert Jim Grant, Very Bullish on Gold - 28th July 15
How to Protect Yourself from China's Crashing Stock Market - 28th July 15
Quantum Geopolitics - 28th July 15
Gold Mining Stocks to Weather the Storm - 28th July 15
Stock Market Bulls Beware! - 28th July 15
Will Chinese Stock Market Crash Affect the US? - 27th July 15
Crude Oil Price Under $48! - 27th July 15
Are We Seeing a Trend Reversal with U.S. Interest Rates? - 27th July 15
How to Know When the Gold Bear Market is Over - 27th July 15
Gold Bear Market Phase III - 27th July 15
Silver Bull Hammer Buy Signal - 27th July 15
Gold Cracks Support and Plunges to New Lows - How Low Will Price Go? - 27th July 15
Commodity Markets Breakdown Of 2015 Is Now A Fact - 26th July 15
Gold Price at a Five-Year Low: Here’s What to Do - 26th July 15
Stock Market Primary III Inflection Point - 26th July 15

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Stock Market Bubble in Trouble

How Turkey Could Shift the Global Balance of Power

Politics / GeoPolitics Feb 19, 2013 - 01:30 PM GMT

By: Money_Morning

Politics

Jeff Uscher writes: Is Turkey about to join the Shanghai Cooperation Organization (SCO)?

After years of delay on its application to join the European Union (EU) as a full member, Turkey has made overtures to the SCO as an alternative to the EU.


Turkish Prime Minister Recep Tayyip Erdogan said after a meeting with Russian Prime Minister Vladimir Putin that Turkey was seriously considering becoming a member of the SCO instead of continuing its efforts to join the EU.

"The European Union needs to stop stalling us," Erdogan said. "We have a strong economy. I told [Putin], 'You should include us in the Shanghai Five [the former name of the SCO] and we will say farewell to the European Union.' The Shanghai Five is much better off economic-wise. It is much more powerful. We told them, "If you say come, we will.'"

What's the Shanghai Cooperation Organization?
The SCO's full members are China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Mongolia, India, Iran and Pakistan have observer status in the SCO while Turkey is a dialogue partner along with Sri Lanka and Belarus.

Originally formed in 1996 to demilitarize the border between China and the former Soviet Union, the SCO was expanded in 2001 to include Uzbekistan.

According to a background study by the Council on Foreign Relations, the SCO has the potential to be an important body for regional energy and security cooperation in Central Asia, but has so far not achieved anything substantial.

Both China and Russia have secured bilateral agreements with other SCO members to build pipelines from the energy-rich Caspian Sea region to their respective home markets but this has taken place outside of the SCO.

"The competing efforts of Russia and China to secure influence in the region are a potential obstacle to extensive SCO energy cooperation," the Council on Foreign Relations concluded.

If genuine energy cooperation could be achieved by the SCO, particularly if it included Iran, that would be a boon for Turkey, which depends on imported energy to fuel its rapidly growing economy.

Would SCO Bid Affect Turkey's NATO Status?
Turkey is a member of NATO, while the SCO is seen as acting as a counterweight to American interests in Central Asia - if not outright anti-American.

The SCO has called for U.S. troops to leave the region but the U.S. has military bases in several Central Asian countries, including SCO members Kyrgyzstan and Uzbekistan, to support the war in Afghanistan.

Although those bases are subject to bilateral agreements with the countries involved and not with the SCO, the issue of what happens to those bases when the U.S. withdraws from Afghanistan at the end of 2014 will be a thorny one.

Of course, the U.S. has a major military presence in Turkey. If Turkey joins the SCO, what will happen to the U.S. bases there? Will Turkey want to withdraw from NATO?

As the U.S. State Department said, if Turkey joins the SCO, it will be "interesting."

SCO a Cover for Big Power Diplomacy?
Many experts feel that the SCO can never be an effective security or energy cooperative organization because of its membership.

Russia has a proprietary interest in the Central Asian countries Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, which used to be part of the Soviet Union, and clearly wants to keep rival China out.

For its part, China wants to get access to the energy-rich area around the Caspian Sea which, according to the BP Energy Survey, holds about 21% of the world's oil and 45% of the world's natural gas.

Would Russia or China really welcome Turkey, a significant power with regional ambitions of its own, into the SCO?

That, too, would be "interesting."

Source :http://moneymorning.com/2013/02/15/would-turkey-in-the-shanghai-co-op-cause-a-global-power-shift/

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2015 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Biggest Debt Bomb in History