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Turkish President Tayyip Erdogan meets with Ukraine's President Volodymyr Zelenskiy and U.N. Secretary-General Antonio Guterres in Lviv, Ukraine.

Murat Cetinmuhurdar/Turkish Presidential Press Office via Reuters

What We're Watching: Erdogan's diplomacy, carnage at Kabul mosque, US-Taiwan trade talks

Erdogan is everywhere

Recep Tayyip Erdogan has been very busy this week. On Thursday, he flew to Lviv to meet with Ukrainian President Volodymyr Zelensky and UN Secretary-General António Guterres, the Turkish president’s first visit to Ukraine since Russia’s war began six months ago. Erdogan, who has tried to position himself as an elder statesman and mediator between Kyiv and Moscow, vowed to help rebuild Ukrainian infrastructure just weeks after brokering a deal with Russia to resume Ukrainian grain exports from Black Sea ports amid a global food crisis. The trio also discussed efforts to secure a contested nuclear power plant in southern Ukraine. This comes a week after Erdogan held a face-to-face with Vladimir Putin in Sochi, Russia, where they pledged to boost energy cooperation. What’s more, Erdogan’s Ukraine trip came just one day after Ankara announced it was restoring full diplomatic ties with Israel. Indeed, Erdogan is looking to get wins wherever he can as he tries to divert attention from Ankara’s deepening economic woes. In a move that made many economists shudder, Turkey’s central bank on Thursday further slashed interest rates to 13% despite the fact that inflation has topped a whopping 80%. Loosening monetary policy to boost growth has long been Erdogan’s shtick, but as a cost of living crisis continues to hurt Turks, his ruling party is falling in the polls less than a year out from elections.

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GZERO Media

What We're Watching: Truckers wanted & not-so-cheap chips

Where are all the truck drivers?

The global truck driver shortage has been disrupting already-out-of-whack supply chains, particularly in the US, the European Union, and Britain – further complicating their post-pandemic economic recoveries. Last year, the American Truckers Association said it was around 80,000 drivers short, while in Europe, a deficit of 40,000 truckers has contributed to long waits and empty shelves. What’s going on? The pandemic has upended the way we work. Trucking is an arduous and ungratifying gig: Drivers often spend days or weeks far away from home, and they don’t get paid for hours spent waiting for goods to be loaded and unloaded. The road can be grueling, the compensation is underwhelming, and the benefits are often … nonexistent. In the US, trucking salaries have plunged in recent decades. Median wages for truck drivers in 1980 were about $110,000 annually (adjusted for inflation); in 2020, they were just $47,130. Unsurprisingly, many truckers are opting for jobs with better conditions and pay, so trucking firms in Europe and the US are struggling to lure drivers back to work and recruit new staff. It’s particularly grim in the UK, where supply side frictions have been exacerbated by Brexit. In the US, meanwhile, companies like Walmart are fighting back by offering massive salary hikes to attract truck drivers. Will it get the wheels turning?

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