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International relations

China money flows into Turkey as crisis creates opening

Tensions with US provide opportunity to expand Belt and Road ambitions

Turkish President Recep Tayyip Erdogan, left, seen meeting with counterpart Xi Jinping, is relying on Chinese funds to keep his country's vulnerable economy afloat.   © Reuters

ISTANBUL -- China is coming to Turkey's aid during its economic crisis with $3.6 billion in funding for infrastructure projects, leveraging Ankara's conflict with Washington to expand its Belt and Road Initiative in the key country that links Asia with Europe.

Turkish President Recep Tayyip Erdogan said Aug. 11 that his country was preparing to trade through national currencies with partners like China, bypassing the U.S. dollar. The U.S. placed additional tariffs on Turkey the next day as a feud simmered over the imprisonment of a U.S. pastor accused of being involved in the 2016 coup attempt against the Turkish leader.

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