Turkish economy and desperate German politics

Published 05.09.2017 23:50

Turkey's growth performance has attracted notice recently. The growth data for the second quarter of 2017 is expected to be at a record-high level too. This growth performance distinguishes Turkey from its equivalents. This high performance highlights a new growth model that does not create inflation and external deficit. And, Turkey's current double-digit inflation figure signifies hardly anything, considering that the country can tolerate this figure at the current growth levels. Turkey will take steps to resolve the food inflation problem in the coming days.

Considering all this, we should carefully watch the steps that Turkey will take in the economy from now on. These will be strong steps toward a new growth and development path. The economic administration has been implementing the institutions and practices of the new period for a long time. It is introducing and will introduce new institutions and practices such as employment-oriented incentives, the Credit Guarantee Fund (CGF), regulations in the banking and financial system, and new institutions and steps that support exports in terms of both operations and financing. On the other hand, it is taking steps that will direct the appetite of big corporate investors toward Turkey in all sectors, starting with energy. Turkey is one of the safest and most lucrative countries for foreign investments and will strengthen this position with market-friendly reforms that will be introduced in the coming days.

Certainly, all these economic developments have an impact on foreign policy. For instance, the economy lies behind the attacks by German Christian Democratic Union (CDU) Chancellor Angela Merkel and her rival, Social Democratic Party (SPD) leader Martin Schulz, on Turkey during Germany's election process. The German business world does not take a blind bit of notice of the dominant German politics' fascist rhetoric toward Turkey and President Recep Tayyip Erdoğan. German companies and investors' interest in Turkey and their loan applications to invest in Turkey are almost at a historic record level. In particular, energy, automotive and intermediate goods industries that include high-tech are now a focus for German investors. Many international banks with representatives in Turkey cannot satisfy strong loan requests in these areas.

The reason for this is that the German business world knows that the German political attacks are in vain just as before World War I and World War II. They will be defeated again, and therefore they are now showing their hands in favor of the rising Turkey. The biggest problem for the German industry during World War I and World War II was to reach natural resources and a hegemony over a wider territorial market space. This was one of the main reasons for Nazism. Adolf Hitler started the war by attacking the east, namely Poland. This had two main reasons we have mentioned above. Poland was both the main exit point for the eastern market and was identified by the Nazis as the first step to reach endless natural resources controlled by the Soviets. The German political body now wants to lend a hand to the stuck German industry, which is about to skip the new industrial revolution despite investing billions of euros. And, it attacks the east this time again, namely Turkey, for this purpose.

However, the German business world, having learned lessons from the previous historical experiences, knows that it will fail again. Therefore, they do not follow their shortsighted faulty politicians. German industrialists and business world are directly cooperating with Turkey and the Turkish business world. This is because it is the only way out for them. Therefore, the attitude of both Christian Democrats and the Social Democrats in Germany, which has turned into a de facto attack on Turkey, signifies nothing in the eyes of the German business world. Secondly, this discourse feeds racist-fascist politics in Europe, which brings the end of leaders like Merkel. Turkey will be coldblooded against these unjust attacks and will continue to cooperate with both the German people and the German business world, and will condemn these discourses, which are reminiscent of the Nazi era, on every platform.

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