Turkey's Economic Transition and Transatlantic Relations
February 18, 2015
10:30 AM - 12:00 PM EST
Brookings Institution
Washington, DC
In 2014 the World Bank published two important reports on the Turkish economy. The first report published in the Spring assessed the customs union (CU) between Turkey and the European Union, concluding that both sides had benefitted but the CU was in need of modernization. A second World Bank report focused on Turkey’s emergence over the last two decades as a dynamic, growth-oriented economy and manufacturing and export powerhouse. However, this report also warned that without further reforms, Turkey risks becoming stuck in a “middle income trap”. At a time when concerns are growing about Turkey’s geopolitical orientation, its commitment to the West and its allegiance to liberal democratic values, could Turkey’s ongoing economic transition become a means to re-anchor Turkey to the transatlantic community?
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