Silk Road and Turkey: in literature "emerging markets", known as India, Brazil, South Africa, Indonesia, the country is no secret that entered a difficult period of economic growth, such as Turkey. The world's leading economists are discussing the reasons for this. Kenneth Rogof of Harvard University used the concept of olan submerging markets Har. The reasons for this are the Federal Reserve's decisions of the Federal Reserve, as well as internal factors as well as the situation of the euro area and the international economy. Will the slowdown in these countries lead to bigger problems? We don't know yet. Turkey made several warnings about the economy.
The analysis titled “Turkey's Once-Golden Economy Buffeted from All Sides” in The Wall Street Journal is an example. Turkey entered a period should be very careful in managing the economy. Increasing political polarization and aggressive approaches does not facilitate economic management. Both the government and the opposition must take a more constructive attitude. We will see that in the short and medium term these difficulties out has the vaccination but in the long term perspective of Turkey's economy is quite bright. In case of continuing political instability and lack of successful economic management which is currently the world's 16th largest economy in Turkey may be much better position.
In 2050, according to Goldman Sachs estimated that Turkey's European 2nd and 9th largest economy in the world. In a globalizing world, an important element of a strong economy is transportation. Both strengthening the transportation networks within the country and integration with international transportation networks are indispensable for economic success. The development of transportation within Turkey's 2023 comprehensive strategy holds an important place. The development of railways in the country and the fact that this railway network is a part of a network stretching from China to London and Paris by reviving the Silk Road will have both economic and geo-political consequences. CACI Analyst penned by John Daly site, "Turkey's Dynamic Railway Expansion Has Large Regional Implications" in the article, not just the interior of Turkey's railway development strategy, he noted that creates local results.
I would like to pass on some interesting information in the article. Turkey is investing heavily to develop the railways. The Marmaray Project, which connects Asia and Europe with the Bosphorus, is a part of it. Turkey is aiming to 2023 railways until doubled. Turkey's first railway in 1856 was founded by a British company in Izmir-Aydin. When the railways were nationalized at the 1927, the country had 3400 miles. In the Republican period, the development of highways was given more importance than the railways. Turkey still 7500 mile-long railway. According to John Daly, the AK Party government focused on the development of railways. Marmaray is just one of these projects. Fast train projects are being implemented.
Turkey 6 in Europe in high-speed train running. 8 in the world. Ranked. In the coming 10 year is planned to remove the 16 thousand miles of railways. It will train 6 200 spindle speed. This rapidly developing railway network will play a very important role in the transport of goods and passengers between Asia and Europe as part of the new Silk Road. In this context 75 billion dollars per year is expected to flow through Turkey's trade. Turkey's foreign lenders are showing great interest in railways development projects. Turkey's government supports the increase of foreign investment in this area. The European Investment Bank has provided to railway projects in the last year 5 3.33 billion dollars in loans in Turkey. German, French, Japanese and South Korean companies are very interested.
China itself is also interested in Turkey's railway development projects will connect to European markets. The 2013 law, aimed at reforming the TCDD, facilitates private sector participation in railways and complies with EU norms. The private sector will play a role in rail freight transport. 2018 will also enter the area of passenger transport. With the launch of the Baku-Tbilisi-Kars (BTK) railway next year, an important step will be taken in the work of the Silk Road. BTK and Marmaray project will be connected to Europe by rail in the Caucasus and Central Asia.
Thus, the Caucasus and Central Asian countries will have an alternative to Russian railways to reach Europe for the first time in history, and the possibilities will be diversified. In the globalizing world, various ties are developed between countries and regions. Railways are part of that. The restoration of the historic Silk Road will result in the linking of the giant Chinese economy and other Asian economies with Europe. Countries integrated with the world will be more economically successful. John Daly, Turkey's era in the field of railways conveys their efforts to catch us. Who knows? Perhaps one day Cyprus will have a railway / highway link with Europe. Technology knows no boundaries. Costs are dropping. Today, it is possible tomorrow, as invisible as possible. What is important is to find solutions to political disagreements and to develop mutual cooperation.