In his attempt to undermine China’s hegemony in the Asia Pacific, Trump is harming the Western alliance.
As Turkey is going through a systematic transition, reforms and new initiatives in economics are required in order to sustain growth and development.
The Turkish economy has her own problems such as current account deficit, as other economies have their own. However, it has showed her resilience and potential time and again in the last 7 decades and particularly in the 2000s.
There are a couple of changes that Turkey can pursue within its transformation to a presidential system in order to restrcture its macroeconomic governance.
As the new site of international hegemonic competition, East Asia perfectly reflects the multipolar character of the global system.
Ahead of the snap election in June 2018, Turkey is under a severe financial attack. It is quite apparent that Turkey’s macroeconomic indicators are quite healthy, and it is not possible to explain the current financial pressure “economically”.
“Turkey’s economic governance architecture is robust enough to withstand domestic and international shocks and will weather many storms to come.”
In order to avoid the deterioration of the Turkish Lira, the government need to reduce its reliance on foreign capital flows by speeding up structural reforms.
“What are the ratings of credit rating agencies themselves, then? It is well below “credibility” for most people around the world, apparently. With a negative outlook. And no (upward) revision is on the horizon.”
As Turkey is trying to reverse its deindustrialization process and is trying to avoid the middle income gap, the government should take a closer look to the South Korean development experience.