There is something fundamentally wrong in Turkey
Turkey’s transformation is a success story no more. In 1980, Turkey was an economy exporting only $3 billion worth of goods, 90 percent of which were agricultural products. In 2012, we had an export level of 150 billion, 90 percent of which was made up of industrial products. This means that from 1980 until today, Turkey has switched from low-tech to mid-tech products. But we seem to be stuck there at the moment, and there is no sign yet of moving toward the hi-tech. Turkey is now a country where its own electronics giant, instead of pursuing innovation-based growth, is moving into the construction business. It is simply easier to earn money that way. Is there something fundamentally wrong in Turkey? I am afraid so.
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