So the plummet of the Turkish lira has everybody pointing at the Thai Baht crisis of 1997. The argument is Turkey has foreign debt, if its currency devalues too much compared to foreign currency it won't be able to pay that debt, and when a whole country defaults it affects a whole bunch of industries and everyone's money goes away.

The crisis had significant macroeconomic-level effects, including sharp reductions in values of currencies, stock markets, and other asset prices of several Asian countries. The nominal U.S. dollar GDP of ASEAN fell by $9.2 billion in 1997 and $218.2 billion (31.7%) in 1998. In South Korea, the $170.9 billion fall in 1998 was equal to 33.1% of the 1997 GDP. Many businesses collapsed, and as a consequence, millions of people fell below the poverty line in 1997–1998. Indonesia, South Korea and Thailand were the countries most affected by the crisis.

A strong dollar is a different but problem (not just for Americans). It basically means that anything American becomes expensive - above and beyond any Trump tariff bullshit. Considering how much global trade is settled in dollars, moving the dollar peg moves trade pegs for everybody. Is it good? Is it bad? Well, it's a change. When the dollar is strong Americans import more but when the dollar is strong foreigners invest less.