TR Economy & Updates

[Saithan]

Their investment might target to export abroad from Turkey as we have high qualified and cheap labor force.
You can't recruite an engineer for 400 euro in Poland. Ukranians travel there to work. Minumum wages are in Poland 800-1000EUR.

That's good because as EU salary rises they will look for qualified workforce from other countries.

 

[Saithan]

I think foreign competition is not killing the domestic production, at least not the quality producers, look at chinese brands before foreign investment they all produced cheap stuff but now some brands are top notch technology giants who race for the pole position.
So its good that these investments come, they will force Turkish brands to get better.

Would I be remembering wrongly if I said that RTE has told the banks to give out loan etc. because of state guarantee ?

Even if people are of poor standing and can't possibly pay back the debt ?

 

[HTurk]

Their investment might target to export abroad from Turkey as we have high qualified and cheap labor force.
You can't recruite an engineer for 400 euro in Poland. Ukranians travel there to work. Minumum wages are in Poland 800-1000EUR.

Exactly. They are going to produce in Turkey for the European markets.

 

[Lool]

Exactly. They are going to produce in Turkey for the European markets.

Not only for European markets though
With the lira this low, I believe Turkey can export high quality furniture to the Middle East and some Asian countries; this will help Turkey in increasing and controlling a massive market share in many countries!
What Iam worries about is the consequences of such acts
1- Turkish ppl are suffering from such acts
2- Turkey became even way too lucrative in terms of foreign investments with the current situation that Turkey may start to absorb foreign investments from other countries; I believe many countries wont like that and may try to retaliate one way or another as they were aiming to win such investments like Greece and Egypt

 

[Anastasius]

Kind of hilarious when you consider that Volkswagen was prevented from opening a factory in Turkey to slash labor costs only around a year prior.

Now all the EU companies are rushing to outsource to Turkey with the global supply chain screwed by COVID-19.

 

[Nilgiri]

IKEA wont kill the Turkish furniture business. Even the most poor Turks buy expensive furniture from Bellona, Mondi or Istikbal because they can pay the bill in 88 months with their 53 different creditcards.

I think IKEA is more interested on sourcing from Turkey by sounds of things. in IKEA's here I always see lot of products from around the world.

 

[the]

Foreign direct investment totalled $9.1 billion in the first seven months of 2021. I wouldn't be surprised if it surpasses the 2015 level.

 

[Ravenman]

View attachment 33167
Foreign direct investment totalled $9.1 billion in the first seven months of 2021. I wouldn't be surprised if it surpasses the 2015 level.

This is very good news. This means strange valuta are coming to Turkey, that will take te pressure off the economy and enlighten the inflation.

But still we need to fasten de-dollarization like Russia and China. Make agreements with trading countries to sell and buy in own valuta's.

 

[Ravenman]

Something strange is going on.

Instead of (what i thaught) slapping Erdogans Turkey with sanctions and harsh regulations, Western multinationals coming to invest.

How is this possible?

 

[mulj]

IKEA plans to shift more production to Turkey to shorten supply chain - Latest News

Sweden’s flat-pack furniture giant IKEA is planning to move more production to Turkey to minimise problems with global supply chains and increased shipping costs, the company’s chief financial officer for Turkey said on Oct. 6.

www.hurriyetdailynews.com

Sounds good, but I hope Turkish furniture business is ready for the increasing competition.

As i said earlier, china and fcl cryse will boost turkish exports upto 500 bil usd in no time. Erdogan goverment built firm foundation and natural positon of Turkey was needed for such. Apocaliptic voices went to the thin air.
Ikea will be followed by many others. Fear for domestic companies is not based on real danger as the production is meamt for euro asia continent probably and actually it is great opportunity for local companies to jump in in ikea supply chain, only question which is debatable, does Turkey has enough wood mass for such company without jeopardizing natural forest composition.

 

[mulj]

Something strange is going on.

Instead of (what i thaught) slapping Erdogans Turkey with sanctions and harsh regulations, Western multinationals coming to invest.

How is this possible?

It is simple, capculation is their moto in life and abacus is millenas among us.

 

[Saithan]

As i said earlier, china and fcl cryse will boost turkish exports upto 500 bil usd in no time. Erdogan goverment built firm foundation and natural positon of Turkey was needed for such. Apocaliptic voices went to the thin air.
Ikea will be followed by many others.

You mean RTE ruined a sound system to bring labour cost down as much as possible. Raping workers union so people get fired for being members of a union aka like US. So big companies can come to Turkey and pay cheap salary, fire people, and cash in.

You are quick to praise RTE, but not so quick to criticize imo.

 

[mulj]

You mean RTE ruined a sound system to bring labour cost down as much as possible. Raping workers union so people get fired for being members of a union aka like US. So big companies can come to Turkey and pay cheap salary, fire people, and cash in.

You are quick to praise RTE, but not so quick to criticize imo.

No bro, i have more luxury to observe it objectivly without passion for intersted parties.
Regarding labour unions, today it is scam from begining, it had some value in past while it was needed to humanize working conditions but today it is political tool. Turkey is not Sweden or Danmark in order to replicate their social democratic utopia.

 

[Saithan]

No bro, i have more luxury to observe it objectivly without passion for intersted parties.
Regarding labour unions, today it is scam from begining, it had some value in past while it was needed to humanize working conditions but today it is political tool. Turkey is not Sweden or Danmark in order to replicate their social democratic utopia.

That is most certainly true in a developed country, but in developing countries it's still very much needed.

You must have seen the posts I shared about how some 200 people got fired without reason because they were members of a workers union in Sanli Urfa.

And that's just one example that made it to the press. So don't give me that "it's a political tool".

I've said it before, but I have sit in court in Istanbul in 2013 and witnessed workers having to file their cases to COURT! to get their fair due.

You must have read how some even came with examples in this thread that salary paid and some of it is withdrawn and paid back to the employee as a form of bribe or "thank you for giving me a job".

Heck even I paid for someone just to ensure they got the job. Why, because I live in Denmark and earn well.

 

[mulj]

That is most certainly true in a developed country, but in developing countries it's still very much needed.

You must have seen the posts I shared about how some 200 people got fired without reason because they were members of a workers union in Sanli Urfa.

And that's just one example that made it to the press. So don't give me that "it's a political tool".

I've said it before, but I have sit in court in Istanbul in 2013 and witnessed workers having to file their cases to COURT! to get their fair due.

You must have read how some even came with examples in this thread that salary paid and some of it is withdrawn and paid back to the employee as a form of bribe or "thank you for giving me a job".

Heck even I paid for someone just to ensure they got the job. Why, because I live in Denmark and earn well.

pretty much aware of ruthless behavior of many company owners in Turkey and it is something that should be dealt with. my only objection that the workers unions are not best option due inevitable ideological influences is not the right way. Today state has more then enough instruments to enforce proper measures and regulations which should upgrade situation by default. But unfortunately as long as there is surplus of labor force eithers sindicates or state can not do much, by my opinion that is must be first step before any meaningful actions which will improve overall conditions of workers in basic industries.

 

[Saithan]

pretty much aware of ruthless behavior of many company owners in Turkey and it is something that should be dealt with. my only objection that the workers unions are not best option due inevitable ideological influences is not the right way. Today state has more then enough instruments to enforce proper measures and regulations which should upgrade situation by default. But unfortunately as long as there is surplus of labor force eithers sindicates or state can not do much, by my opinion that is must be first step before any meaningful actions which will improve overall conditions of workers in basic industries.

I'm sorry, but I do not agree. You are saying that the state should be the one to set the limit and police everything. Do you understand that your thought process pretty much alienates/eliminates civil society.

Your POV is pretty much coherent with Feudalism. How can you live in a democratic country and say, "you don't need to fight for your rights" because that is what you are saying, basically. And when people want their rights you send the police after them.

You're saying, "you are sheep, just do as I tell you and be satisfied". People who don't ask question on everything just accepts whatever is given them will never be free.

I think you should go visit China or North Korea. Should work as a reality check.

 

[mulj]

I'm sorry, but I do not agree. You are saying that the state should be the one to set the limit and police everything. Do you understand that your thought process pretty much alienates/eliminates civil society.

Your POV is pretty much coherent with Feudalism. How can you live in a democratic country and say, "you don't need to fight for your rights" because that is what you are saying, basically. And when people want their rights you send the police after them.

You're saying, "you are sheep, just do as I tell you and be satisfied". People who don't ask question on everything just accepts whatever is given them will never be free.

I think you should go visit China or North Korea. Should work as a reality check.

do not need to be sorry it is your pov, i do not mind if you disagree.

regarding your implication towards my mindset you are completely wrong, my approach is completely practical due infinite available information and experiences from other societies, i simply consider that there is no need to invent hot water all over again.

that does not imply what you said, on the contrary, what is irony that this sentence "you are sheep, just do as I tell you and be satisfied" is exactly what is done in west to if you look it closer, because of wider range of materialism choices you have illusion from individual perspective that you are not sheep when actually you are as small fraction of greater machine

 

[Saithan]

do not need to be sorry it is your pov, i do not mind if you disagree.

regarding your implication towards my mindset you are completely wrong, my approach is completely practical due infinite available information and experiences from other societies, i simply consider that there is no need to invent hot water all over again.

that does not imply what you said, on the contrary, what is irony that this sentence "you are sheep, just do as I tell you and be satisfied" is exactly what is done in west to if you look it closer, because of wider range of materialism choices you have illusion from individual perspective that you are not sheep when actually you are as small fraction of greater machine

Your comments are applicable to Turkey, China, Russia, Iran, Israel, USA, UK as well. We're all cog in the wheel.

The difference is as so many others have already said is whether you can fight for your rights or not.

I've already posted severals news about how Turkish workers got fired and they stage a protest, and Vali (Governor) sends Jandarma to disperse the people. Later on Xiaomi takes them back.

Now I could go on and on about workers right, unions, unity etc. and why they are necessary and should be promoted in every country. But I don't think you are willing to accept or agree with that point of view.

As such it's a fruitless discussion.

Needless to say even in Denmark with our pay, unions and such there are jobs that gets paid quite low (according to Danish standards), but their contribution to society is huge. There is a job guarentee pretty much because people keep going from one working place to another due to horrible work environment.

Without workers union the work conditions of these and any worker would be horribly jeopardized. Without laws to protect domestic workface companies could and are getting workers from abroad to minimum salary. Without laws and unions to force these companies to pay decent competitive salaries unemployment would explore.

Take a look at construction business, every person here can tell you which country's workers travel around for work, and that's a job you don't need an education to work with. You think the polish come to Denmark because of our low wages ?

They come to Denmark because of the wages guaranteed by the unions and businesses deals. It's the Governments duty to uphold these deals made between two parties.

Without unions workers are treated like trash, and they don't have anyone protecting them. The government sure as hell doesn't give a fuck unless their political power is riding on it!

 

[mulj]

Your comments are applicable to Turkey, China, Russia, Iran, Israel, USA, UK as well. We're all cog in the wheel.

The difference is as so many others have already said is whether you can fight for your rights or not.

I've already posted severals news about how Turkish workers got fired and they stage a protest, and Vali (Governor) sends Jandarma to disperse the people. Later on Xiaomi takes them back.

Now I could go on and on about workers right, unions, unity etc. and why they are necessary and should be promoted in every country. But I don't think you are willing to accept or agree with that point of view.

As such it's a fruitless discussion.

Needless to say even in Denmark with our pay, unions and such there are jobs that gets paid quite low (according to Danish standards), but their contribution to society is huge. There is a job guarentee pretty much because people keep going from one working place to another due to horrible work environment.

Without workers union the work conditions of these and any worker would be horribly jeopardized. Without laws to protect domestic workface companies could and are getting workers from abroad to minimum salary. Without laws and unions to force these companies to pay decent competitive salaries unemployment would explore.

Take a look at construction business, every person here can tell you which country's workers travel around for work, and that's a job you don't need an education to work with. You think the polish come to Denmark because of our low wages ?

They come to Denmark because of the wages guaranteed by the unions and businesses deals. It's the Governments duty to uphold these deals made between two parties.

Without unions workers are treated like trash, and they don't have anyone protecting them. The government sure as hell doesn't give a fuck unless their political power is riding on it!

Well, we can widen subject as much as you want but as you said it is not fruitful, matter is to complex for individual scope and overlap various socio political dichotomies, i would not pursue this subject anymore and dilute nice news from IKEA. Altough I appreciate and thank you for detailed explanation of your position as much as i do not agree with it.

 

[Stuka]

Turkish lira swings on rumours of new central bank firing

Currency rebounds as Erdogan’s administration denies reports that it would sack Sahap Kavcioglu

www.ft.com

Financial Times.

"Yet some analysts and market participants have speculated in recent weeks that Kavcioglu could be replaced by Semih Tumen, a former central bank official who returned to the institution in May as a deputy governor."

"A senior Turkish banker played down the prospect that Tumen, who has a PhD in economics from the University of Chicago, would take over. “If [a change of governor] happens, [the replacement] will be somebody who is much more obedient and stupid.”