Turkey has said that it will impose an extra 40% tax, with a minimum penalty of $7,000 per car, on automobile imports from China starting on July 7. This decision aims to shield Turkey's local automakers from unfair competition and preserve the country's current account balance. The decision is made in the context of widespread worries over China's rising exports of electric cars, which many claim Beijing is massively subsidizing to support the country's economy.
Belt & Road Initiative is being investigated for graft.
Faced with criticism for debt traps, China's Belt & Road Initiative is being investigated for wrongdoing. The premier project of President Xi Jinping is being investigated for possible financial concerns and corruption in places like Sri Lanka and Pakistan. We explain why worries over the integrity of the trillion-dollar project are growing.
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