That Other Turkey

Far away from the hassle and turbulence of Turkey’s EU membership application is that other Turkey, the one that is growing and expanding, the economic Turkey. This time it’s cars:

With a cluster of carmakers and part suppliers, the Turkish automotive sector has reached a critical mass and become an integral part of the global network of production bases. The country?s geographic location and demographics make it an ideal production (and distribution) centre for the mature European market as well as emerging markets in the Middle East and North Africa. Not surprisingly, the annual growth rate of automotive exports accelerated from 6.7% in the 1980s to 30.8% in the 1990s and to 42.6% in the last five years. Accordingly, Turkey now exports over US$10 billion worth of motor vehicles and parts to 170 countries, and there is no sign of a slowdown in the near future. The sector raised its international sales by 53.7% in 2004 and 43.9% in the first five months of this year, generating 20% of the country?s total export earnings. “

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About Edward Hugh

Edward 'the bonobo is a Catalan economist of British extraction. After being born, brought-up and educated in the United Kingdom, Edward subsequently settled in Barcelona where he has now lived for over 15 years. As a consequence Edward considers himself to be "Catalan by adoption". He has also to some extent been "adopted by Catalonia", since throughout the current economic crisis he has been a constant voice on TV, radio and in the press arguing in favor of the need for some kind of internal devaluation if Spain wants to stay inside the Euro. By inclination he is a macro economist, but his obsession with trying to understand the economic impact of demographic changes has often taken him far from home, off and away from the more tranquil and placid pastures of the dismal science, into the bracken and thicket of demography, anthropology, biology, sociology and systems theory. All of which has lead him to ask himself whether Thomas Wolfe was not in fact right when he asserted that the fact of the matter is "you can never go home again".