Turkey heading toward stability and welfare

Published 07.04.2017 00:01

We can regard 2017 as a year of transformation and a new beginning, not only for Turkey, but for the entire world.

Obviously, the EU is gearing up for a new era with the secession of the U.K. The U.S., on the other hand, is seeking a new path under Donald Trump's administration.

I do not think Trump's meeting with Chinese President Xi Jinping will be as tense as expected. Trump is not an ordinary follower of the Republican tradition in the U.S. and we can therefore say that he will not continue from where former President George W. Bush left off.

In other words, there will be no aggressive U.S. policies based on direct intervention in the world's hot spots such as the Pacific region and the Middle East. As such, the U.S. will not be able to follow a policy other than "economic wisdom" that keeps interest rates and the dollar high.

I think we will see the first signs of this policy at the end of the U.S.-China summit. There is a state of uncertainty about the new balance between Europe, the U.K., the U.S. and the Pacific region. This is a general path in which new political lines are emerging.

Turkey is on the verge of overcoming this global uncertainty for itself and the region as of April 16. The public's acceptance of the Constitutional amendment in the April 16 referendum will turn Turkey into a new attraction center in this environment of global uncertainty.

A study called "The World in 2050," conducted by PricewaterhouseCoopers (PwC), one of the world's leading economic audit and management services firms, reveals a trend that sheds light on the current uncertainty.

The report enables us to read the world's economic and political trajectory until 2050. What we see is that all eastern and southern countries, which have been classified as underdeveloped or developing countries so far, have embarked on a new development path that we can call "emerging economies."

However, these countries will take part in the world league to the extent that they accommodate themselves to the political, economic and economic conditions of the new era as of 2017.

According to PwC's report, Turkey will be the 12th largest economy in the world by 2030 and the 11th largest economy in the world by 2050 after Germany and the U.K. by outperforming many European countries even in its current state.

The report also suggests that if Turkey can carry out economic reforms, it can outpace Italy by 2030.

Moreover, it reveals that Indonesia will leave behind Japan and Germany and become the fourth largest economy in the world. In fact, even this detail alone shows how big of a change we are going through.

Let us also note that China will take the lead as the largest economy in the world before 2030. In short, economic leadership in the world is moving toward Asia.

Certainly, Turkey will adopt a new growth and development path, which has certain objectives and content, after April 16. We know there are great expectations for this.

It is possible for Turkey to continue to grow by an average of up to 7 percent over the next 10 years. To this end, it has to carry out far-reaching reforms in accordance with the political transformation that will follow the April 16 referendum.

These reforms must be qualitative and deep enough to highlight inclusive growth in all areas, from education to agriculture.

The attempts of those who have stalled Turkey to prevent it from actualizing these comprehensive reforms so far, will fail after April 16. This is because Turkey will be the safest investible country in its region and launch a comprehensive reform program quickly after April 16.

We are at a crossroads of no return.

Turkey is the only country in the world that is on the verge of overcoming this uncertainty. It will become one of the central countries in the world with the systemic change it will make after April 16.

We now have a chance to be a central country that can ensure integration between the Pacific, namely the rising Asia, which is the new economic center of the world, and the European continent in all areas, and can bring peace and welfare to the region.

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