Turkey's ambitions to be among the top ten global economies by 2023 could mean that the rising star of the emerging market economies becomes "the China of Europe", according to an economist and a prominent Turkish business woman.
Turkey's economy was the fastest growing in Europe in 2011, growing 8.5 percent (the second fastest after China among major emerging market economies). But in 2012 Turkey, like China, experienced a slump in growth as the global economic slowdown adversely affected its exports and capital inflows.
After what has been seen as a "soft landing" for Turkey, growth is seen picking up in 2013 with the latest HSBC manufacturing PMI reaching a 14-month high in December as new orders and exports rebounded.
Indeed, while most of Europe struggles to achieve 1 percent growth, Turkey is expected to have 3.5 percent growth in 2013, the IMF said in recent forecasts.
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