Great explanation of the current Turkish economic model Aladdin! I am a US citizen and closely follow Turkish progress with plans for investment there. Will keep tabs on your upcoming videos
Just care about u'r own country..how u'r country struggle high inflation and pay china debt trap !! Maybe long term u'r country sell land and people to china because cant afford pay debt !!
To give you an example , my friend own a refrigerator company , dealing with retail store, he used to buy of China but we're not trust worthy, and known he has started to import most of is refrigeration from turkey
Thank you Aladdin for sharing this to people. the European and U.S media is only sharing inflation rate of Lira but not the reason and the development of the new Turkey Economy reform. If you look at Japanese Yen, they are always sit at bottom low but their people still has the ability to buy foreign good, because of vast export that Japanese make, may Turkey get through this hard time and come back more prosperous than before.
In 2021, the Turkish economy grew by approximately 9 percent and the country's economy, when adjusted for Purchasing Power Parity ( PPP ) now is the world's 11'th largest economy. According to the Wikipedia article on the Turkish economy, the Turkish economy, when adjusted for Purchasing Power Parity, now has a size of $ 3 trillion, with a Per Capita Income at $ 35,624. This is higher than European member states Greece, Bulgaria and Croatia. The Turkish currency is currently in crisis, but the economy as a whole has rebound from the COVID related crisis at a pace few economists had anticipated. In fact, the Turkish economy has now grown post COVID at a faster rate than any G20 economy other than China. There is no question President Erdogan is controversial, his economic policies have been generally competent over the past two decades nonetheless.
Turkey doesn't have the stupidly cheap labor and population size of China. This is mainly how China could do it. Once foreign companies nested into China and have become dependent of Chinese labor, economic growth was inevitable. Turkey in its current state should rather focus on the success story of South Korea. Also Turkey drastically needs to educate wider parts of its population to a basic level. Inner Anatolia has shockingly archaic parts. But all in all Turkey has great potential for sure, but this is what they get off on for years. They get confortable with the idea, that they have potential, but they never reallly use it. Also Turkish culture isn't about competitiveness, maybe back when they were great nomadic archer tribes on conquests, but now they've become all too confortable in the abundance Anatolia provides.
yea, if they increased minimum wage just now, that goes against the way china grew. China had cheap labour, turkey wont be all that competitive with higher wage earners.
Instead of stating that not every economist in the world agree with the economic policy, it would be much more correct to say that allmost all economists disagree with the policy. Turkey risk throwing overboard a lot of the gains from the past 20 years, with nothing to show for it. Take this whole New Economic Model nonsense. It's tenets change on an monthly basis. First lower Lira was great for exports, now the central bank is spending billions in FX to prop it up. First higher interest rates was bad, but the result of this mess is actually that all private interest rates have risen. The exact opposite of the goal with the Central Bank rate cutting.
Önceki süreçte faizden yabancılar faydalanıyordu.Borsa döviz faiz üçgeninde dehşet paralar götürdüler ülkemizden.Şimdi ki olayda ise verilen dövize endeksli faiz vatandaşa kalıyor.Yani ülke içerisinde.Konuşanlar olayın bu yönünü hiç görmüyor.
Improving language skills amongst the Turkish population needs to be a priority. Everyone in Turkey learns Turkish, something which is a given. The country's education system also needs to make English compulsory for all students in primary and secondary school because English is the lingua franca of the contemporary world. In addition, all Turkish primary and secondary school students must have the option of learning third languages like German, French, Russian, Arabic and Kurdish because a polyglot workforce is a huge asset. When compared to many other European and Asian nations, Turkey's overall English language standards are not particularly high, which is a drawback for a nation promoting itself as a major tourism and foreign investment hub.
They know they don't depend on products from Europe or from anywhere worldwide, they are strong on their own. I've personally seen how almost every city has large agricultural fields, half of the land is agricultural land to be precise. They are major producers of hazelnut for example-therefore popular for Baklava and other sweets.. Europe would be hungry without products imported from Turkey, while they live off from their economy alone. I also wouldn't bother learning English if I was them. Also, I don't see that their lack of English language knowledge affects their tourism, they're kind and friendly and that's what always makes people visit Turkey again.
Aida Sabanija maybe more and more people will start to learn Turkish! So many at the moment (bcz of Turkish tele novela, haha) but perhaps it will increase even more bcz of trade. Beautiful language in any case and not so difficult to learn ❤️
@@shellwirtful I agree. It's always a plus to speak another language, especially for making and strengthening business connections with international companies. However I consider Turkish to be one of the hardest languages, or is it because they speak too fast, I'm not sure. I know many words but making or understanding a sentence is a mission impossible for me, but it's never too late to learn it, who knows when it would be helpful 😁
President Erdogan's economic model, for all its salient features and potential weaknesses, represents SOME model, as opposed to the deeply flawed model followed PRIOR to his arrival in 2002 which had lead to the worst economic contraction in Turkish history in 2001 and inflation rates which approached triple digits. So the general trajectory of the Turkish economy has been UPWARDS since President Erdogan came to power, with some model better than the revolving doors of short lived coalition governments which ran Turkey prior to Erdogan's arrival.
Aladdins Turkey is really different from what it really is. Please stop misinforming people with overly positive outlook not backed by economic facts or principles
Come on aladdin. Are you really sugarcoating this model? How can you not be aware of your surroundings, are you sure you are living in Turkey? Didn't really expect this.
I dont know why turks are inviting people to settle in their country when certainly there is no lack of man power and fankly turks dont like foreign influence(which is totally fine). This would make a very large numbers of people who would settle and though they are not able to vote but their 3rd or 4th generation born and bred in turkey may demand full rights voting too. It is fine by international standards in uk their next pm candidate is a Pakistani or indian. Even defence ninistry is held by a Pakistani. But are turks ready? For this globalisation? These new people would steal turkish jobs which are already limited. Bring in their culture. And the most important question are they ever be able to asimilate? Because they would never become turks. For them its a nationality. For you its ethnicitiy. The question resides with turks. Are they ready to accept such huge foreign population. We in Pakistan have introduced a similar thing for Afghans who has less money and cant make turkey their home so they can settle in Pakistan. But they share ethnicity and toungue and culture with Pakistan. That is not right in case of turkey where majority of settlers are Pakistanis, indians and most of all Afghans.
How can you talk about Erdogan's latest economic policies without mentioning "Islamic Economics"? Erdogan has clearly cited Islam as a reason for not raising interest rates despite a rapidly depreciating currency and rampant inflation. Fundamentalist Islam is dragging Turkey back to the 7th century. #Riba
@@suhailshafi: Turkey's journey from secularism back to Islamic fundamentalism has been fairly recent. Let's see where Turkey is placed on all global measures, not just the economic ones, in ten years' time.
@@entertainmentreviewer24hou92: Low interest rates might work, and I hope they do, for the sake of my Turkish friends! But if Aladdin purports to be explaining Erdogan's economic policy to potential foreign investors, he omitted a major part of the story, which Erdogan himself is very clear about. The issue is that an "Islamic" economic model may not be seen as a 'plus' to all foreign investors.
Turkey as a huge potential in it manufacturering, the way it work is Germany ,itaily Spain, manufacturing high end stuff but expansive, and china is cheap but poor quality, this is where turkey sit in, the quality is good and sat in the middle, plus there are easy to do business with, (there are honest where as china business are very dishonest.
To add what turkey need to do he move to renewal energy and do a heavy phsv toward electric vehicle, and push heavy toward recyleing, once or it doesn't need to replay on import for fuel and raw material, it doesn't matter of the Turkish lyrics devalue
Wait until the disastrous Erdogan regime is gone. Hopefully, Turkey will be able to recover the billions that he and his family have stolen from the country. Erdogan's human rights record is abysmal too. It is very affordable to live there but there are Western alternatives to Turkey. Otherwise, consider Crete which was not affected by the financial crisis. The island is self-sustaining and no worries of it turning into a theocracy like Turkey is under Erdogan.
I know Turks who love and I know Turks who hate Erdoğan…. Regardless the country is so beautiful and definitely affordable for a westerner. I am already living there part time. Will gladly “retire” there when they time comes. Enjoy!
@Archie Baxter true to some extent, some people I know I wouldn’t even invite to my house in Istanbul bcz they are adverse to anything outside their immediate circle. Then the number of westerners buying there and thriving is a beautiful sight to behold. Not everyone is the same …..
@@denizalgazi Yemin ederim bugüne kadar ne akp ye ne Erdoğan'a oy vermedim.Ama sizin zihniyetinizi görünce akp ye olmasa bile Erdoğan'a oy vereceğim.Siz bu kafayla devam edin.
So much patriotic propagando without touching the roots of the problem. The rise of Turkey came from unsubstainable real estate boom without economy but lots of credits.
Great explanation of the current Turkish economic model Aladdin!
I am a US citizen and closely follow Turkish progress with plans for investment there. Will keep tabs on your upcoming videos
😍🙏🏼
Best wishes for Turkey and Turkey will make further progress through new economic development and prosperity. 🇵🇰🇹🇷🇵🇰🇹🇷🇵🇰🇹🇷
Just care about u'r own country..how u'r country struggle high inflation and pay china debt trap !! Maybe long term u'r country sell land and people to china because cant afford pay debt !!
To give you an example , my friend own a refrigerator company , dealing with retail store, he used to buy of China but we're not trust worthy, and known he has started to import most of is refrigeration from turkey
Cool example
Thank you Aladdin for sharing this to people. the European and U.S media is only sharing inflation rate of Lira but not the reason and the development of the new Turkey Economy reform. If you look at Japanese Yen, they are always sit at bottom low but their people still has the ability to buy foreign good, because of vast export that Japanese make, may Turkey get through this hard time and come back more prosperous than before.
In 2021, the Turkish economy grew by approximately 9 percent and the country's economy, when adjusted for Purchasing Power Parity ( PPP ) now is the world's 11'th largest economy. According to the Wikipedia article on the Turkish economy, the Turkish economy, when adjusted for Purchasing Power Parity, now has a size of $ 3 trillion, with a Per Capita Income at $ 35,624. This is higher than European member states Greece, Bulgaria and Croatia. The Turkish currency is currently in crisis, but the economy as a whole has rebound from the COVID related crisis at a pace few economists had anticipated. In fact, the Turkish economy has now grown post COVID at a faster rate than any G20 economy other than China. There is no question President Erdogan is controversial, his economic policies have been generally competent over the past two decades nonetheless.
I couldn't have said it better myself😊 Thanks for your support!
@@AladdinsTurkey Thank you. How are the Urdu lessons going ?
Please upload regularly Allatin 😃 we miss your videos. Plus I would actually say Allatin is Turkey itself. Both beautiful and deep. 😍🥰
Great info mate. So very simply put together, that even ı understood. 😉
Interesting
Nice sharing 🤗☺️
Interesting perspective! Looking forward for more content soon 👍
Thank you, more to come! 😊
Hi Aladdin where is your new video?
Turkey doesn't have the stupidly cheap labor and population size of China. This is mainly how China could do it. Once foreign companies nested into China and have become dependent of Chinese labor, economic growth was inevitable. Turkey in its current state should rather focus on the success story of South Korea. Also Turkey drastically needs to educate wider parts of its population to a basic level. Inner Anatolia has shockingly archaic parts. But all in all Turkey has great potential for sure, but this is what they get off on for years. They get confortable with the idea, that they have potential, but they never reallly use it. Also Turkish culture isn't about competitiveness, maybe back when they were great nomadic archer tribes on conquests, but now they've become all too confortable in the abundance Anatolia provides.
yea, if they increased minimum wage just now, that goes against the way china grew. China had cheap labour, turkey wont be all that competitive with higher wage earners.
@Archie Baxter now you would. Not back when Korea was poor too.
I love you So much brother
Instead of stating that not every economist in the world agree with the economic policy, it would be much more correct to say that allmost all economists disagree with the policy. Turkey risk throwing overboard a lot of the gains from the past 20 years, with nothing to show for it. Take this whole New Economic Model nonsense. It's tenets change on an monthly basis. First lower Lira was great for exports, now the central bank is spending billions in FX to prop it up. First higher interest rates was bad, but the result of this mess is actually that all private interest rates have risen. The exact opposite of the goal with the Central Bank rate cutting.
So damn right😄
Önceki süreçte faizden yabancılar faydalanıyordu.Borsa döviz faiz üçgeninde dehşet paralar götürdüler ülkemizden.Şimdi ki olayda ise verilen dövize endeksli faiz vatandaşa kalıyor.Yani ülke içerisinde.Konuşanlar olayın bu yönünü hiç görmüyor.
Improving language skills amongst the Turkish population needs to be a priority. Everyone in Turkey learns Turkish, something which is a given. The country's education system also needs to make English compulsory for all students in primary and secondary school because English is the lingua franca of the contemporary world. In addition, all Turkish primary and secondary school students must have the option of learning third languages like German, French, Russian, Arabic and Kurdish because a polyglot workforce is a huge asset. When compared to many other European and Asian nations, Turkey's overall English language standards are not particularly high, which is a drawback for a nation promoting itself as a major tourism and foreign investment hub.
yea i am thinking of moving to turkey and was shocked to find they banned homeschooling and do NOT teach english at ALL in their school system!
They know they don't depend on products from Europe or from anywhere worldwide, they are strong on their own. I've personally seen how almost every city has large agricultural fields, half of the land is agricultural land to be precise. They are major producers of hazelnut for example-therefore popular for Baklava and other sweets.. Europe would be hungry without products imported from Turkey, while they live off from their economy alone. I also wouldn't bother learning English if I was them. Also, I don't see that their lack of English language knowledge affects their tourism, they're kind and friendly and that's what always makes people visit Turkey again.
Aida Sabanija maybe more and more people will start to learn Turkish! So many at the moment (bcz of Turkish tele novela, haha) but perhaps it will increase even more bcz of trade. Beautiful language in any case and not so difficult to learn ❤️
@@shellwirtful I agree. It's always a plus to speak another language, especially for making and strengthening business connections with international companies. However I consider Turkish to be one of the hardest languages, or is it because they speak too fast, I'm not sure. I know many words but making or understanding a sentence is a mission impossible for me, but it's never too late to learn it, who knows when it would be helpful 😁
The reason English is worth knowing is because of access to information. Most of the 'main stream' world expresses in English.
Always fantastic information
President Erdogan's economic model, for all its salient features and potential weaknesses, represents SOME model, as opposed to the deeply flawed model followed PRIOR to his arrival in 2002 which had lead to the worst economic contraction in Turkish history in 2001 and inflation rates which approached triple digits. So the general trajectory of the Turkish economy has been UPWARDS since President Erdogan came to power, with some model better than the revolving doors of short lived coalition governments which ran Turkey prior to Erdogan's arrival.
Aladdins Turkey is really different from what it really is. Please stop misinforming people with overly positive outlook not backed by economic facts or principles
vert comprehensive and realistic, thank you.
Interesting News ❤️💖
I wait with interes to are what happend in Turkey
Alladin is Great
we greeks want ottoman empire again❤
Love you brother, The Ottoman empire was a unifying emperor.
Do you really want to go to war over Cyprus again?
Nobody needs empires anymore, empires suck. Let's all just get along.
You are best English speaker . And your Urdu is very funny .😂😂😂😂😂
Thanks for reply.❤
What about finance? You built a financial center for some reason.
Bruh Inflation and intrest rate is enough which shows how much worst this economic model is
👏👏👏👏👏👏👏👏👏👍🥰
Come on aladdin. Are you really sugarcoating this model? How can you not be aware of your surroundings, are you sure you are living in Turkey? Didn't really expect this.
I dont know why turks are inviting people to settle in their country when certainly there is no lack of man power and fankly turks dont like foreign influence(which is totally fine).
This would make a very large numbers of people who would settle and though they are not able to vote but their 3rd or 4th generation born and bred in turkey may demand full rights voting too. It is fine by international standards in uk their next pm candidate is a Pakistani or indian. Even defence ninistry is held by a Pakistani.
But are turks ready? For this globalisation? These new people would steal turkish jobs which are already limited. Bring in their culture.
And the most important question are they ever be able to asimilate? Because they would never become turks. For them its a nationality. For you its ethnicitiy. The question resides with turks. Are they ready to accept such huge foreign population.
We in Pakistan have introduced a similar thing for Afghans who has less money and cant make turkey their home so they can settle in Pakistan. But they share ethnicity and toungue and culture with Pakistan.
That is not right in case of turkey where majority of settlers are Pakistanis, indians and most of all Afghans.
poor turkey😂 🇦🇱❤️🇺🇸💪
How can you talk about Erdogan's latest economic policies without mentioning "Islamic Economics"? Erdogan has clearly cited Islam as a reason for not raising interest rates despite a rapidly depreciating currency and rampant inflation. Fundamentalist Islam is dragging Turkey back to the 7th century. #Riba
Countries stuck in the 7'th century do not have the world's eleventh largest economies ( by Purchasing Power, at least ). LOL.
@@suhailshafi: Turkey's journey from secularism back to Islamic fundamentalism has been fairly recent. Let's see where Turkey is placed on all global measures, not just the economic ones, in ten years' time.
Many countries like even South Korea have low interest rates! That doesn’t affect them being a top economy!
@@entertainmentreviewer24hou92: Low interest rates might work, and I hope they do, for the sake of my Turkish friends! But if Aladdin purports to be explaining Erdogan's economic policy to potential foreign investors, he omitted a major part of the story, which Erdogan himself is very clear about. The issue is that an "Islamic" economic model may not be seen as a 'plus' to all foreign investors.
@@sandytatham3592 ua-cam.com/video/4-2nqd6-ZXg/v-deo.html
You are kidding right? Turkey is not China 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 This video will not age very well 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Turkey as a huge potential in it manufacturering, the way it work is Germany ,itaily Spain, manufacturing high end stuff but expansive, and china is cheap but poor quality, this is where turkey sit in, the quality is good and sat in the middle, plus there are easy to do business with, (there are honest where as china business are very dishonest.
To add what turkey need to do he move to renewal energy and do a heavy phsv toward electric vehicle, and push heavy toward recyleing, once or it doesn't need to replay on import for fuel and raw material, it doesn't matter of the Turkish lyrics devalue
Ive been thinking about retiring in Turkey. 5-10 years from now. Ill be watching and continue to visit between now and then.
Wait until the disastrous Erdogan regime is gone. Hopefully, Turkey will be able to recover the billions that he and his family have stolen from the country. Erdogan's human rights record is abysmal too. It is very affordable to live there but there are Western alternatives to Turkey. Otherwise, consider Crete which was not affected by the financial crisis. The island is self-sustaining and no worries of it turning into a theocracy like Turkey is under Erdogan.
I know Turks who love and I know Turks who hate Erdoğan…. Regardless the country is so beautiful and definitely affordable for a westerner. I am already living there part time. Will gladly “retire” there when they time comes. Enjoy!
@Archie Baxter true to some extent, some people I know I wouldn’t even invite to my house in Istanbul bcz they are adverse to anything outside their immediate circle. Then the number of westerners buying there and thriving is a beautiful sight to behold. Not everyone is the same …..
@@denizalgazi Yemin ederim bugüne kadar ne akp ye ne Erdoğan'a oy vermedim.Ama sizin zihniyetinizi görünce akp ye olmasa bile Erdoğan'a oy vereceğim.Siz bu kafayla devam edin.
Nice information 👌 brother. From India Assam.
I wish you good luck with everyday survival as you have 80% inflation and a minimum salary smaller than Albania.
1:46: turkish economy is in a very very good shape? Are you fuckin kiddin me?? Where do live?!
Long live Turkey and long live erdogan
Erdogan fanboy !! Being roast turkey for thanks giving.
Why would you destroy your own country?
Oil your own machine!
@@mulk691 what machine? Money print machine? If inflation doesnt exist sure pŕrrrrrr
How else will Erdogan enrich his family? They've already stolen billions from the Turkish people.
Devaluing a currency is sometimes the smart thing to do.
Great explanation. Thanks 🙏
Not at all turkey imports more then they import unlike china this is an impossible thing to achieve
Great video Allatin. Thanks for the right perspective. So now we know the secret to your public speaking skills- being a journalist before! 😀
4 comment Love you Bro from India 🇮🇳❤️💖💖
🇹🇷🌹🇵🇰
Long Live Pakistan & Turkey brotherhood 🇹🇷🤝🇵🇰
It's important for to know it money matters.
it is a gamble, I hope the timing is right !
So much patriotic propagando without touching the roots of the problem. The rise of Turkey came from unsubstainable real estate boom without economy but lots of credits.
Sure, and Germanys rise came Out of nowhere. Makes sense.