this post was submitted on 02 May 2024
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It sounds like it's worse for Turkey than for Israel.
Usually with these types of things, it tends to be worse for the smaller economy, but both suffer. (See Brexit, Sanctions on Russia, Iran and Venezuela, and also historically those on apartheid South Africa and Rhodesia).
Turkey has a GDP 2-3x that of Israel, so I don't know why you'd think it would be worse for them.
If I recall correctly, when trade is considered to be zero-sum, the net exporter gains and the net importer loses. Therefore if what's bad for Israel is what's good for Turkey and vice versa, this is worse for Turkey.
Maybe I'm wrong - I wasn't very good at macroeconomics.
It sounds like you are under the impression that imports are bad for the economy.
Turkiye when measured by GDP PPP is 8x as big as the usurper entity. Turkiye will be fine, it is the settlers who are becoming more isolated in the region.
I didn't think I'd find a mercantilist in 2024, but here we are.
No, that's not how it works, otherwise the US would be a poor country based on their massive trade deficit.
Trade takes place because it is mutually beneficial. Each parties gets something out of each trade.
Reducing trade therefore will always hurts both countries.
Exactly which loses more will depend on a lot of factors, but in general smaller economies are more dependent on larger economies.
Hopefully this means a pivot to the Global South and away from the West, which is a trend we've been seeing for Turkey on occasion. Though I doubt that'll happen with Erdogan in power.
At least they have morals. And hair transplants.