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Where In the World Should I Invest: An Insider's Guide to Making Money Around the Globe by Karim Rahemtulla

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CHAPTER 7

Turkey

KNOCKING AT THE DOOR

The Turks must be laughing at the events unfolding in the West. For such a long time they have been seeking acceptance into the European Union in order to be viewed as an equal partner with the West. They argue location, straddling both Europe and Asia on the map. They argue military cooperation as the biggest Islamic NATO member. They argue economy, as the owners of one of the fastest growing economies in the world. And, they argue Greece. If that bankrupt nation can be part of the eurozone, then why not Turkey? Well, the answer has been that Turkey was not ready economically to join the first-world nations. In truth, it has more to do with the West’s lack of acceptance of an Islamic country into its fold. Of course, no one will ever say that publicly except for the Turks. Well, the last laugh, it appears, is for them to enjoy. As the eurozone falls apart thanks to countries like Greece, Turkey is looking pretty golden right now even with its problems, and problems it has.

Turkey is a Tier 1 emerging market. It’s very well developed, as it should be. The Turks have played a major part in world history for over 2,000 years. Turkey’s largest city, Istanbul, once known as Constantinople, was the seat of the Roman empire under Emperor Constantine, who was the first major emperor to embrace Christianity. It is in Istanbul that you will find the magnificent domed cathedral called Hagia Sophia, or Saint Sophia, the predecessor to future domed Catholic ...

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