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Asia Major
What’s next for Asia Minor?
26/07/2007

Turkey’s model of secular democracy and the fact that it is one of the few Islamic economies to achieve substantial economic growth, has attracted a lot of global interest. It has shifted from an agriculture base economy to industry driven one & has been expanding strongly.

Ataturk (the first president) introduced reforms in phases (for large and sudden dose could kill the patient), laying foundation for further development & promoting the rise of civil society. Reforms in public-owned industries, public-private partnership led to impressive economic growth (9.8% in 2006). Tourism is again a big economic contributor. The country has attracted more than 24 million foreign tourists in 2005, generating $18.2 billion and contributing considerably to the economy. Structural changes in banking, retail & telecommunications has succeeded in attracting massive foreign investments. In 2005, Turkey attracted US$ 8.5 billion & is one of the few Islamic countries to achieve high literacy among women (79.6%). The economic good is an outcome of a series of privatisations, prophetic planning along with educational and social reforms, all resulting in a structural change. The espousal of market reforms have resulted in a vibrant middle class with technical, professional, managerial & entrepreneurial competencies. Couple this with its multi-culturalism, surely the other competing nations have a major problem with the Asia Minor.

By:- B&E
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