This blog is well worth a read. Whilst I do not challenge the observations, it is important to qualify that Turkey’s foreign policies will have economic consequences.
I predict that multi-nationals will now increasingly start to factor in ‘political risk‘ into investment decisions in Turkey.
Also Turkey ranks 55 overall in the World Bank’s ‘Doing Business Report‘. But in terms of the following sub-sets, Turkey is even worse:
- Dealing with construction permits 139
- Resolving insolvency 109
- Trading across borders 90
- Getting credit 89
‘Higher political risk’ in Turkey will compound the difficulties of doing business in Turkey.
Of course, as ‘higher political risk’ reduces foreign investment by multi-nationals, this will feed into lower economic growth and fewer jobs for Turkey’s young people.
Source: Today’s Zaman
In the previous article, it was argued that Turkish foreign policy in the Middle East “is obviously, yet tacitly, revisionist.” Specifically, examples such as the Syrian civil war were employed to highlight Turkey’s revisionist goals (i.e. regime change) and its efforts to rely on great powers (U.S. and NATO) in order to achieve them without getting too much involved.
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