TR Economy & Updates

[Zafer]

IMF 2022 4th quarter estimates of PPP GDP of select countries. In 2023 estimate Türkiye hits 41k. PPP shows how people are faring.

 

[GoatsMilk]

Now my class, despite being by far the most productive and positive in terms of its impact on society, is undervalued. My peers migrate out the country, a lot of them are either underpaid, overworked or both. Or simply unemployed. In the old days, my kind (class) of people could raise a decent family of about 3-4 kids, afford a couple of houses and a car with one income. Nowadays, it is damn near IMPOSSIBLE for a new graduate to achieve this standard of living in a few years. And Turkey's economy didn't get smaller, so someone's been taking our share, basically.

In england I've noticed that many skilled Turks are looking to leave the country, do we have any idea as to the extent of this brain drain?

 

[Xenon54]

The economic and war refugees who paid 250k or 400k to buy homes or bond?

Oh yeah those exist too, the rich elites of corrupt countries who bought Turkish citizenship with that money...

 

[Nilgiri]

Oh yeah those exist too, the rich elites of corrupt countries who bought Turkish citizenship with that money...

I know some Afghans here in Canada, their extended family did exactly that. They are the rich (politically connected) elite that bought Turk residency and citizenship.

 

[B_A]

In england I've noticed that many skilled Turks are looking to leave the country, do we have any idea as to the extent of this brain drain?

These 5-6 year is a very bad time not a normal case

 

[Chocopie]

Doesn‘t Koç own Beko? Very competitive and well-known brand, they could grow it further to a global household name. Koç family reminds me of Korean chaebol owners.

 

[Isbara]

Doesn‘t Koç own Beko? Very competitive and well-known brand, they could grow it further to a global household name. Koç family reminds me of Korean chaebol owners.

Yes they do. They also own OTOKAR who developed Altay tank with Rotem. Also OTOSAN belongs to them too , develops and produces all engines of the Ford Trucks.

 

[what]

Doesn‘t Koç own Beko? Very competitive and well-known brand, they could grow it further to a global household name. Koç family reminds me of Korean chaebol owners.

Sabanci and Koc used to be very much the Chaebols of Turkey, but the current government is supporting and building their own chaebols.
But thats a bit offtopic for this topic. But feel free to ask me somewhere else if you're interested.

 

[Bmx98]

Doesn‘t Koç own Beko? Very competitive and well-known brand, they could grow it further to a global household name. Koç family reminds me of Korean chaebol owners.

Unless Beko improves on their quality it's not happening, because the quality of the Beko home appliances does not have a good reputation right now.

 

[Yasar_TR]

Unless Beko improves on their quality it's not happening, because the quality of the Beko home appliances does not have a good reputation right now.

I am afraid Brits will not agree with you on that. BEKO is a well established brand in the UK for it’s :
1. Best under-counter fridges and freezers
2. Best value for money white good products
3. Best after sales service

 

[GoatsMilk]

I am afraid Brits will not agree with you on that. BEKO is a well established brand in the UK for it’s :
1. Best under-counter fridges and freezers
2. Best value for money white good products
3. Best after sales service

 

[Chocopie]

Sabanci and Koc used to be very much the Chaebols of Turkey, but the current government is supporting and building their own chaebols.
But thats a bit offtopic for this topic. But feel free to ask me somewhere else if you're interested.

Very interested in Turkish conglomerates and owner dynasties.

Afaik Sabanci and Koç Holdings stem from traditional entrepreneurs families who grew into their modern forms in the 60s and expanded successfully into diverse branches of economy.

State-funded Korean chaebols like Posco and Korea Telecom were later privatized, or subsidiaries of failed Daewoo Group were taken over by state-owned funds and banks in the aftermath of the Asian Financial Crisis. How and why is the Turkish government building its own „chaebols“?

 

[Ryder]

I don‘t know how to remove a post to a different thread. Turkish Economy & Updates would be a appropriate place. Very interested in Turkish conglomerates and owner dynasties.

Afaik Sabanci and Koç Holdings stem from traditional entrepreneurs families who grew into their modern forms in the 60s and expanded successfully into diverse branches of economy.

State-funded Korean chaebols like Posco and Korea Telecom were later privatized, or subsidiaries of failed Daewoo Group were taken over by state-owned funds and banks in the aftermath of the Asian Financial Crisis. How and why is the Turkish government building its own „chaebols“?

Turkish Caebols even existed in Ottoman times and continued well into the Turkish Republic.

Difference between them most Chaebols in Ottoman times come from Greek, Armenian, Jewish and Levantine(Italians) heritage. While the Turkish republic all hail from Turkish backgrounds like Sabanci and Koc.

I think most users would explain how some families with their wealth can influence the country.

 

[what]

State-funded Korean chaebols like Posco and Korea Telecom were later privatized, or subsidiaries of failed Daewoo Group were taken over by state-owned funds and banks in the aftermath of the Asian Financial Crisis. How and why is the Turkish government building its own „chaebols“?

All major construction projects in the country go to 5 companies for almost two decades now. All of them close to the President. Same for other public tenders. All of them go to the close circle of the president and his friends.

Free press has been largely destroyed with heavy tax fines and rigged tenders, where they ended up in the hands of friends of the government. Might steer some trouble in here, but Baykar and BMC can also be put in that bucket.

We also have TÜSIAD (Turkeys top industry organization) traditionally the leading association of Turkish companies
and nowadays MÜSIAD (same thing but in conservative, religious) being prepped up as the leading business association for pro-government companies.

 

[Huelague]

All major construction projects in the country go to 5 companies for almost two decades now. All of them close to the President. Same for other public tenders. All of them go to the close circle of the president and his friends.

Free press has been largely destroyed with heavy tax fines and rigged tenders, where they ended up in the hands of friends of the government. Might steer some trouble in here, but Baykar and BMC can also be put in that bucket.

We also have TÜSIAD (Turkeys top industry organization) traditionally the leading association of Turkish companies
and nowadays MÜSIAD (same thing but in conservative, religious) being prepped up as the leading business association for pro-government companies.

Dont forget the one who builds the new Istanbul airport.

 

[Zafer]

All major construction projects in the country go to 5 companies for almost two decades now. All of them close to the President. Same for other public tenders. All of them go to the close circle of the president and his friends.

Free press has been largely destroyed with heavy tax fines and rigged tenders, where they ended up in the hands of friends of the government. Might steer some trouble in here, but Baykar and BMC can also be put in that bucket.

We also have TÜSIAD (Turkeys top industry organization) traditionally the leading association of Turkish companies
and nowadays MÜSIAD (same thing but in conservative, religious) being prepped up as the leading business association for pro-government companies.

You failed to say that TUSIAD is anti-government.

 

[Bmx98]

I am afraid Brits will not agree with you on that. BEKO is a well established brand in the UK for it’s :
1. Best under-counter fridges and freezers
2. Best value for money white good products
3. Best after sales service

Yes the fridges are good but here in Balkan you don't get after sales services and the price is usually on par with Japanese products when you buy them at major retail stores. Also their other products are really poor quality when compared to European or Japanese stuff, my mom bought a Beko washing machine, it worked well for two weeks then immediately started having problems with noise and shaking.

 

[B_A]

Unless Beko improves on their quality it's not happening, because the quality of the Beko home appliances does not have a good reputation right now.

I am afraid Brits will not agree with you on that. BEKO is a well established brand in the UK for it’s :
1. Best under-counter fridges and freezers
2. Best value for money white good products
3. Best after sales service

That’s funny that beko always said themselves a british company.

white goods are cheap and didn’t earn a lot now. We need much more high tech brands such as cars or smart phone

 

[Ryder]

Yes the fridges are good but here in Balkan you don't get after sales services and the price is usually on par with Japanese products when you buy them at major retail stores. Also their other products are really poor quality when compared to European or Japanese stuff, my mom bought a Beko washing machine, it worked well for two weeks then immediately started having problems with noise and shaking.

You know which brand is good.

Its Asko from Sweden. No matter how much I diss the Swedes they make some fine ass stuff.

My mums Asko washing machine was bought in 2003 and its still working really good.

Asko is expensive but underrated. Mind you this washing machine has been with me since I grew up as I was 10 years old in 2003.

We once had a small analog beko tv. It was trash a lot of beko stuff was trash in the 90s and 2000s but honestly BEKO has come a long way so credit is due for them.

Beko has come a long way no doubt there is improvements the brand needs much beko is much better than in the past thats for sure.

 

[Chocopie]

Asko was acquired by Slovenian Gorenje Group which is owned by Chinese Hisense.
For the more profitable upscale market there are German Bosch and Miele and Italian SMEG.

US giant Whirlpool takes over appliances brands all around the world and produce similar stuff with a different brand sticker on. Cutthroat competition for white goods.