U.S. economic downturn, financial hegemony pose risks to other economies: Turkish scholar

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U.S. economic downturn, financial hegemony pose risks to other economies: Turkish scholar

STORY: U.S. economic downturn, financial hegemony pose risks to other economies: Turkish scholar DATELINE: Aug. 11, 2022 LENGTH: 00:01:46 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of street views in U.S. 2. SOUNDBITE 1 (Turkish): KAYA ARDIC, Piri Reis University, Türkiye 3. SOUNDBITE 2 (Turkish): KAYA ARDIC, Piri Reis University, Türkiye STORYLINE: A Turkish scholar has said U.S. economic downturn and its financial hegemony have posed risks to other economies around the world. Kaya Ardic, a scholar specialized in international trade at Piri Reis University in Istanbul, Türkiye, told Xinhua that the U.S. is experiencing a recession that has affected other countries. SOUNDBITE 1 (Turkish): KAYA ARDIC, Piri Reis University, Türkiye "When a country's economy experiences two consecutive quarters of negative growth, it's called a recession technically." "Geopolitical risks come to the fore in this context. Rising energy and food prices complicate all economies, both developed and devel

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