There is an underlying assumption of stability and growing prosperity in the Turkish economy, which have kept overseas investors happy so far.  The recent demonstrations, and the somewhat heavy police handling of it in Ankara and Istanbul, have put some mild question-marks on that scenario.

The strikes are over the reduced paypackets people are taking home each month, of the sign that the Turkish economic growth is slowing down from healthy levels. 

 

This is partly due to the drop in productivity, people are not bothered to work so hard as before, and also on the changing culture of more and more people participating in the financial markets and making a living or side income from that in the midst of abundance visited by capital inflows from abroad.

Easier credit availability, which has added to dynamic growth.

 

Some people have also expressed the opinion that PM Erdogan wishes to keep the republic on strict religious lines.  An interpretation is that the Turkish people are happy to live as individuals rather than people subject to a lot of strictures, which can be cumbersome.  Followers of the Prophet Ali (cousin and son-in-law of Prophet Mohammed) can choose not to wear headgear, which is uncomfortable in the hot weather.  As Turkey prepares to join the European Union, the people would like to join Europe on an equal footing. 

 

The Prime Minister is on a tour of North Africa, which was arranged previously.  This suggests a full confidence in his office and in the delegation of duties to his Deputy PM Gul, who has made active effort to engage with his people and offered apologies for the heavy tactics of the police. 

 

Once the peoples' concerns are addressed, I believe the enterprising and dynamic Turkish people can continue to trade and make a good living and maintain their freedoms and emancipation.

I imagine PM Erdogan will listen to his people, and assure them of his approval of the trend of modernisation in culture. 

 

Lower Oil prices will help all nations, and Turkey has many friends in Opec who may influence this.

A high Oil price is a curse to all, a lower Oil price will bring a blessing to all as well.  For that, I pray.

 

Kind regards,

Duru-darshan.