CENGIZ – Turkey’s wasteful and costly economic model

Turkey’s wasteful and costly economic model Turkey’s economic development model looks bright, but it hides a series of costly shortcomings. In any case, the lifespan of the construction and consumption-based economic model is coming to an end.

This is the reason for the prime minister’s nervousness over interest rates. Construction and domestic consumption can act as engines for an economy, but an entire economy cannot be based on construction and consumption alone.

Turkey will sooner or later pay the price with bursting bubbles. Add to the mix the massacre of natural resources and grotesque cities.

Today, I propose three significant examples.· Subcontractor laborIn the International Trade Union Confederation’s “ITUC Global Rights Index” 2014 report, Turkey is listed, along with Bangladesh, Zambia and Zimbabwe, as one of the “worst countries for workers.

” www.ituc-csi.

orgnew-ituc-global-rights-index-the?lang=enIn the meantime, it seems Turkey recently learned how bad working conditions really are when the Soma mining disaster occurred. The truly disastrous state of labor in this country is only now beginning to emerge: for example, the newly discovered situation of subcontracted labor, wherein work safety is at its absolute lowest.

The official data place such workers at 1 million, with half as many in the public as in the private sector According to the Workers’ Health and Labor Safety Council, it is, in fact, twice this figure. (www.

guvenlicalismaorg) But, at the same time, one needs to add to the figure the number of unregistered workers there are out there. Considering that unregistered labor represents some 45 percent of 22 million workers, we are talking around 10 million workers.

These unregistered workers are potential subcontracted workers. In a word, then, 12 million “slaves” striving to survive with almost nothing.

·Assembling and copying industryA report released by the Independent Industrialists and Businessmen’s Association (MuSIAD) in March contained some significant findings. The “2023 Vizyonu IIIIInda Turk sInaî mulkiyet raporu” (Turkish Industrial Property in Light of the 2023 Vision) report examines the numbers of national patents and brands, and related research and development potential.

Some data from the report: Around 60,000 companies in Turkey are involved in exporting 50,000 unregistered brands. The number of active patents is 7,400 in Greece, this number is 32,000.

The number of patents registered by Turkish companies in 2010 was just 171. Of these 171 patents, it is not known what percentage was turned into market products or had become critical products.

There are no critical discoveries. Of these 171 patents, a large number belong to companies like Arelik, Bosch, Ford and Vestel.

The remaining 30 to 40 patents are produced by 76 million people.Among the “top 100” there is not a single genuinely high technology company.

A surprise? · Housing bubbleLet’s take a look at the report from the Financial Consultant Chambers (ISMMMO) titled “Turkiye’de Konut PiyasasI: Risk ve Kazan” (The Housing Market in Turkey: Risks and Profits). Last year, the amount of individual housing loans and credit lines were made available to the construction sector broke a record, rising to TL 195 billion.

This is 20 times the levels seen in 2004. But, in the meantime, sales have fallen 55 percent over the past three months in the market’s real pulse, brand name homes.

Data from the Turkish Statistics Institute (TurkStat) from the first five months confirm this general trend. According to the data, there has been a 33.

6 percent drop in home sales in the first five months of the year compared with the same period last year High interest rates, the devalued Turkish lira, the continuing presence of available homes, the end to the 1 percent VAT aantage, higher iron and cement prices, a slowdown in international markets, insufficient foreign investment and political instability are all signs that the housing bubble is about ready to burst. This year, the number of new and secondhand homes on the market was set to reach a total of 1 million.

·Website for mega-projectsThe Istanbul Freelance Architects Foundation (ISMD) has turned out an incredible map showing the true extent of the miseries exacted upon the city and its residents in recent years during the construction spree. The map also reveals the full extent of the massacre that the city’s forests have endured.

www.megaprojeleristanbul.

co.

SOURCE: Today’s Zaman