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Showing posts from May 29, 2011

TURKEY ECONOMIC PROBLEMS IN 2011

TURKEY ECONOMIC PROBLEMS IN 2011 When I observed the Turkey economy in 2011 there are few things are becoming more and more problematic nowadays. Here I address the following problems in Turkey (i) Investment into technologies and human capital are still trailing international averages. Turkey people are still far from understanding the importance of innovation and creative thinking. I observed Turkish people have immense potential but they do not capitalilize it as much as they should. The sense I get is that Turkey people are being discouraged from creating new ways of thinking, due to cultural and religious norms etc. (II0 The current account deficit is high due to high oil imports but also due to the fact that most Turkish businesses are producing exports that are highly dependent on mid-level imports. They mostly produce consumer goods while importing the machines necessary to produce them from abroad. Whenever Turkey advances to the stage when it can produces the machin