Economic Development - Video Review

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The second significant point, political and economic stability, relates to the country Turkey because they could learn a lot from TRUMPF and how they have political stability as well as no corruption. “Foreign investors and observers are growing increasingly nervous about the increasingly authoritarian nature of President Erdogan and the AKP government” (Sidar, Tuncalp). This is not a good sign for Turkey as the country might be scaring away investors, which is the opposite of what the video empathized. Instead the video argued that countries should be highly interested in getting international business and investors. In addition, investors are also starting to become nervous about the recent downgrade in rankings for corruption prevention (Sidar, Tuncalp). Thus if Turkey continues to show no signs of improving their political stability, then I am worried that entrepreneurs will not want to do business in this country.

The final significant point, investing in human capital, relates to my country because both Turkey and Singapore believe education is a top priority. In addition, the video explains how they tweaked the curriculum in order to improve the overall quality of basic education. On January 20th, 2012, Ankara Turkey also wanted to improve their quality of education. As a result, they developed four policy options that could improve the quality of basic education. These policies included expanding equality education early in childhood, better teachers, developing a more efficient and equitable financing scheme, and strengthening the provision and use of information for accountability”(The World Bank DataBank). This is significantly important because both countries are suggesting that human capital of the future belongs to the knowledge of workers, thus they must be able to take information in and process it quickly. Both places believe in completing using brain power and not on cost.

Work Cited

"Improving the Quality and Equity of Basic Education in Turkey." The World Bank DataBank. N.p., 20

Jan. 2012. Web. 28 Feb. 2016

"Turkey Overview." Central Intelligence Agency. The World Factbook, 25 Feb. 2016. Web. 28 Feb. 2016

"Turkey: Pocket Money for School and a Way out of Poverty." The World Bank DataBank. N.p., Dec.

2005. Web. 28 Feb. 2016.

Sidar, Cenk, and Emre Tuncalp. "Who's Going to Save Turkey's Economy?" The Foreign Policy Group.

N.p., 3 Apr. 2015. Web. 28 Feb. 2016.