What Bodrum needs is a new constitution
Güven Sak, PhD
21 August 2012
Turkey needs a new constitution, immediately. The survival of Bodrum and the prosperity of its residents depend on this. No, I don’t intend to proclaim the “Independent Republic of Muğla City.” That is way beyond Bodrum’s needs. Let me tell you what I am talking about.
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Why Iraq matters
Güven Sak, PhD
18 August 2012
Why rattle relations with Iraq now, you may ask? It is oil, Kurdish oil. The growing tension between Baghdad and Ankara is not good. History shows that political instability and tension are bad for business. This is especially true in our region, where there are no neighboring market economies. In this neighborhood, you need to be on good terms with countries’ capitals in order to access their markets.
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How many medals did Turkey miss?
Güven Sak, PhD
17 August 2012
Among the top twenty economies of the world, Turkey ranked 17th in medal count. So, here is result of the games: Kim Jong-Un won against Recep Tayyip Erdoğan. North Korea finished the London 2012 Olympic Games with six medals, four gold, and two bronze. Turkey settled with five: two gold, two silver, and one bronze. So, the final score is North Korea: 6, Turkey: 5. Turkey was the 32nd in overall ranking while North Korea made it into the top twenty. Among the top twenty economies of the world, Turkey ranked 17th in medal count. Out of the 652 medals won by the top twenty economies, Turkey won only 5, corresponding to 8 in 1000. In terms of the total GDP of the top twenty, Turkey’s share was around 1.5 percent. Thus, Turkey’s performance in the Olympics was weaker compared to the size of it
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Is there a third perspective?
Fatih Özatay, PhD
16 August 2012
The key to international competitiveness is lowering production cost of goods and services, which requires productivity gains, technologic advancement in production and more skillful labor force. In Tuesday’s column I said that the fall in current account deficit can be assessed from two different perspectives. From the growth perspective, it was impossible to see the drop in current account deficit as an improvement as it was related closely to the fall in growth rate. From financing perspective, on the other hand, the easing of current account deficit, that is, the fall in foreign fund requirement could be read as an improvement. Unemployment still high
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The paper war
Nihat Ali Özcan, PhD
16 August 2012
The U.S. and the U.K., Turkey’s allies, do not want to disappoint Turkey on the Syria issue. According to statements made following U.S. Secretary of State Hillary Clinton’s visit to Turkey, the two countries will work together on the Syria issue as regards intelligence and plans for any military intervention. It is natural that providing the intelligence that will shape future plans will take a long time, and military, political, diplomatic, and humanitarian improvements mean that it is possible to create various intervention options. In other words, the generals and intelligence officers of both countries have deduced from the “paper war” in Syria that the time for its end cannot yet be predicted.
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“Who the hell are you to tell us that we’re not going to deal with the Iranians?”
Güven Sak, PhD
14 August 2012
Americans have the authority via American courts to impose penalties on any agency that carries out global transactions. I have to admit that I wouldn’t dare using this title if it wasn’t for the brilliant title of an Ertuğrul Özkök commentary. I am talking about the one titled “Who the Hell Are You to Tell Me Where I Can Have a Beer!”, which he wrote after prime minister Erdoğan’s ridiculous question, “Is it acceptable to have beer at university?” Recently, it was reported that the CFO of the British bank Standard Chartered also used a similar language. In response to rumors that an American financial prosecutor was to open an investigation against the Bank for its dealings with Iran in violation of the US embargo against the country, CFO Richard Meddings was claimed to say, "Who the hell
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Which perspective we must embrace?
Fatih Özatay, PhD
14 August 2012
We must see the easing of current account deficit, that is, the fall in foreign fund requirement, as an “improvement.” Balance of payments figures for June were announced. As expected, the fall in current account deficit continues. Cumulative deficit over the last twelve months was $63.5 billion, implying a drop of more than $10 billion year-on-year. The most remarkable development was that the non-energy current account balance, which had a deficit consecutively for the last 27 months, recorded a slight surplus in June. Therefore, non-energy current account deficit for the last twelve months decreased to $12 billion, almost $22 billion lower compared to the same period last year. Wheels of the economy turn slowly
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What does China’s export performance imply?
Fatih Özatay, PhD
11 August 2012
The policy Turkey initiated in order to boost exports has come back as an impediment to exports by pushing up costs. China’s weak export performance in July was the last link to the chain of bad news. The country’s exports increased remarkably weaker than expectations, only by 1 percent year-on-year. The chief reason, as suspected, was the weak recovery in the US and the absence of any in the European Union (EU).
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The fate of two cities: Aleppo and Gaziantep
Güven Sak, PhD
11 August 2012
It is all about having an inclusive regime of wealth creation. If the allocation is really market based, then there is no problem. Recently I have been thinking of the fate of two cities: Aleppo and Gaziantep. One is in Syria for now, and the other is in Turkey. With the rumors about intense street fighting, I can only feel sorry for the industrious citizens of Aleppo. Aleppo and Gaziantep are in fact twin cities. Just visit the bazaar of both, and you will see the similarity. Aleppo and Antep are in fact twins that were kept apart. In Ottoman times, the empire had three main economic centers: Istanbul, Cairo and Aleppo. And when Aleppo was the regional center, its periphery satellites were Antep, Antakya and Urfa. Now is the time to start thinking about the fates the twins. Do
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Authoritative countries can win medals, too
Güven Sak, PhD
10 August 2012
Investing in human capital, on the other hand, means caring for people and for whatever they think and believe. Good things happen in Turkey, too. The greater municipality of Ankara has surprised me for the first time. It is changing the sidewalks of the city. I know, they do this often, but this time they are changing the sidewalks to enable sight-disabled pedestrians to walk easily with their sticks. A pilot scheme has been implemented on Bülten Street in the district of Çankaya, though only a 30-meter part for now. They have laid yellow tactile guide blocks that sight-disabled pedestrians can follow. I have seen tactile platforms also at Esenboğa and Istanbul Atatürk airports. I want to consider this the first step in respecting humans, in particular pedestrians. We are currently going
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