Just looking at the posts of this discussion and it seems to me that most members are going round and round trying to know the "true" problem of the Turkish economy but yet fails
I will come back to this comment later.
The crazy arguments about brain drain and whatever arent the main reason for why Turkey is in its position rn
Whats crazy about that argument, its a fact that Turkey has a brain drain, many insiders within industries, including those from defence industry can attest that Turkey has lost many engineers to the west.
Nobody said its main reason for the problems, if anything then its the symptom of those big problems, the reasons are somewhere else, the main reason is in the palace.
GAS
Turkey is already recording an account surplus in normal trade excluding gold and energy. Gold, in general is an investment for the future, so all what remains is bloody Gas
Turkey is not only importing gas but oil too, apart from that Turkey is not the only country that lacks natural energy ressources, there are such as Japan, Korea, Germany and basically major rest of europe lacking those too, why is Turkey only the one suffering a trade imbalance?
Simply because Turkey does not produce high tech goods (assembling TV's and Refridgerators is not high tech). Turkey needs to produce tonns of good to equalize the high tech goods that it imports.
for Turkey to ensure economic prosperity and prevent brain drain, the answer is GAS!
So is brain drain an issue nor or not, you should decide.
Unlike the idiotic claim of macroeconomic stability by raising interest rates.
You sound like Erdogan who also thinks he knows better than most respectable economists, now see the result.
Most global supply lines are clogged, inflation is rampant everywhere
Most places dont have hyper inflation though.
and enterprises are searching for "Cheaper" markets to ensure price stability. Many EU companies have already relocated from Russia and EU itself to Turkey in order to ensure that their businesses survive.
''Cheap'' is not the biggest factor for a company to resettle somewhere, even bigger are political stability and human ressources, Turkish companies are losing their competitiveness on global comparison since 2013 hitting a new all time low last year. The first dip in 2001-2002 can be attributed to the rise of Chinese companies but the slow dip from 2013 onwards is 100% our own governments fault, 2013 is the famous year where the long last political unstability and Turkeys drift towards an authocratic pariah state started.
Many EU companies have already relocated from Russia and EU itself to Turkey in order to ensure that their businesses survive.
Should we be thankful for this temporary ''luck'' that Turkey had now?
Now to your first first comment, you basically repeat what Erdogan says day and night, the very person who is single handedly responsible for the mess the country is in today but others comments fail to see the problems?
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