1quarter: 11.7%, 2nd quarter: 10.3 %

[ekrem]

With this result, Turkey exceeded $1 trillion of gross domestic product in current prices for the first time in its history.

Turkish economy recoups crisis losses - Hurriyet Daily News and Economic Review

With this figure, Turkey exceeded 1.9 percent EU and 2.8 percent OECD averages.

Turkey among fastest growing G20 countries: Babacan [ WORLD BULLETIN- TURKEY NEWS, WORLD NEWS ]

 

[ekrem]

UK Prime Minister Davod Cameron asks some questions:
"Which country will be 2nd fastet growing economy in world by 2017?"

[ame=http://www.youtube.com/watch?v=C0tIFfGSOyk]YouTube - Cameron wants more trade with Turkey[/ame]

 

[uscitizen]

Turkeys never could keep books.

 

[ekrem]

72 Million people, 50% under age 28.
OECD economic outlook issue No.81: Fastest growing OECD country between 2011-2017.
UK Prime MInister David Cameron: 2nd fastest growing econmy by 2017 in world.
430.000 Students graduate from University each year.
Foreign trade increase between 2003-2008: 186 %
Exports to neighbouring countries between 2003-2008: 278 %
Exorts growth to world between 2003-2008: 179 %
2nd largest construction industry in world.

[ame=http://www.youtube.com/watch?v=r87yZud4Z64]YouTube - Turkish Economy Türkische Wirtschaft Türkiye Ekonomisi 2010[/ame]



UK Trade and Investment Agency
Istanbul's economy larger then 12 EU countries
4.8 Billion € pre-accession funding by EU in 2011
Largest TV producer in Europe
Largest manufacturer of commercial vehicles
8% of all internationally traded crude Oil passes through Turkey
[ame=http://www.youtube.com/watch?v=PN3Dv-I0GyU]YouTube - Die Türkische Wirtschaft - Besser als man denkt!!! HD.flv[/ame]

 

[boedicca]

This is real. Capital which is fleeing the U.S. and other major economies facing sovereign debt crises - and flowing into high growth, high birth rate ones.

Turkey is the leader in a 17 country economic region, with strong imports into its sphere. The population reach is significant in a developing world, increasing productivity sense.

Growth matters - they understand this. Obama doesn't.

 

[ekrem]

Turkeys never could keep books.

Except trying to be funny, you only adulate on achievements by the generation before you. Looking at current America, it becomes each day even more visible what great Americans inhabited once those lands, accumulateing wealth that even suffices for the non-productive follow-up generation.
Something went considerably wrong, maybe you should think about it, whilst you take new debt just for serving interests of existing debt, which is increasingly credited by non-Americans.

But relying on foreign governments to maintain our standard of living also comes with certain risks.
Sen. Hillary Clinton told CNBC last week she sees “a slow erosion of our economic sovereignty,” and she singled out China’s big holdings of Treasury debt as an example.

Just who owns the U.S. national debt? - Business - Answer Desk - msnbc.com

 

[loosecannon]

Capital which is fleeing the U.S. and other major economies facing sovereign debt crises - and flowing into high growth, high birth rate ones.

or perhaps more importantly into low wage regions, i.e. underdeveloped nations with low median age. And few regulatory hurdles.

Globalization is eating the developed nations alive.

 

[loosecannon]

Except trying to be funny, you only adulate on achievements by the generation before you. Looking at current America, it becomes each day even more visible what great Americans inhabited once those lands, accumulateing wealth that even suffices for the non-productive follow-up generation.
Something went considerably wrong, maybe you should think about it, whilst you take new debt just for serving interests of existing debt, which is increasingly credited by non-Americans.

I love it when you speak Yoda!

 

[Baruch Menachem]

It might, just for giggles, be fun to compare this record with that of Greece over the last year.

 

[ekrem]

or perhaps more importantly into low wage regions, i.e. underdeveloped nations with low median age. And few regulatory hurdles.

Globalization is eating the developed nations alive.

Most of the countries that attracted FDI just for cheap manufacturing and re-export to origin of FDI investor, have become itself important consumer markets.
Producing at home in an advanced economy, selling worldwide only works if you do produce cutting-edge products which justify the labour-costs. An example would be Germany's automotive and machine building industry. "Made in Germany" is a trademark when it comes to engineering.
If you do not produce cutting-edge products, you are destined to fail to sell your products at these costs.

There is also the possibility, that you do not produce cutting-edge products, but still the production involves technology which other countries do not have. In this case, you can also sell your products to the world, which were produced locally. But "2nd and 3rd" world will catch up with technology advancement.

I think the second paragraph is the main reason, why many of the advanced economies have problems. The problem most of the advanced economies also have is, that they are not in geographical proximity to these major emerging consumer markets.

FDI to Turkey is mostly portfolio transactions, especially in banking sector. There were major transactions in banking sector the last years, with foreign banks trying to gain a foot within Turkey (young population, new mortgage law and very low household-debts).
According to Merryl Lynch, household debt in Turkey is only 13% of GDP.
Also, most Turks only take bank credits in national currency. So foreign banks wanting to profit from Turkish households anyway would have to exchange currencies.
(from IMF)

 

[ekrem]

It might, just for giggles, be fun to compare this record with that of Greece over the last year.

It's not only Greece which does not perform well:
(Government+Economy)

For example, the UK has external debt of 416% to GDP.
France, 188% to GDP.
Germany, 155 % to GDP.
Netherlands, 477% to GDP.
Spain, 165% to GDP.
Ireland, 1077% to GDP.
Belgium, 267% to GDP.
Sweden, 165% to GDP.
Denmark, 196% to GDP.
List of countries by external debt - Wikipedia, the free encyclopedia



Public Debt:

 

[ekrem]

Within G-20, Saudi-Arabia, China and Turkey are the ones having highest debt-free growth rates.

List of countries by average GDP growth (nominal) - Wikipedia, the free encyclopedia

Debt-free average GDP growth:

Saudi-Arabia: 17,66%
Turkey: 10.09 %
China: 8.56 %

 

[ekrem]

The USA is living from the quality of credit-ratings, which were achieved not by this generation. You are displaying a similar habbit like the Greeks, who also financed their standard of living by importing (debt) capital from productive countries, like China. This is not sustainable.

This is no "getting things done" generation, but increasingly a "burning books" generation with the illusion of chauvinsm which does not comply with the real fact.
The fact is simple: Underperformance in the perception the world once had from Americans, and resting upon achievements without renewing these achievements to stay competitive.

Your fathers travelled once the world to lecture the World about democracy and liberalism. They had a good argument behind them just by cold facts about economic indicators.
Why should anyone listen to you these days, whilst it is clear, that for example the Chinese are performing better?
Why should they listen to you instead of Chinese?

Just pointing to the achievements from the generation before you does not do the trick on international arena. Even the Development Assistance the USA gives to African nations is probably financed through Chinese credit. Why should they not go directly to Chinese for assistance?

Soon, your debt-to-GDP ratio will pass 100%. As it already has in some EU countries.
How should anyone be convinced, that you guys are the wisdom for Life when you perform this way with economic indicators?
You increasingly become a model not to follow.

 

[ekrem]

Now the world will finance health-care for indigent Americans with the US government importing capital from abroad.
The whole "West" seems to be on looser side in the new emerging world order, not even able to carrie out government duties with domestic collected taxes.

Research carried out by Deutsche Bank