2012 May 24 |
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foreign investment

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Writing for The Atlantic, Mitch Moxley recounts a gig he recently took up in China.  Apparently, Caucasian males living in the country are being recruited to pretend to be high ranking officials of American companies.  They go for ribbon-cutting ceremonies, to schmooze with local dignitaries, and to give speeches about how wonderful it is to expand their business to China:

One friend, an American who works in film, was paid to represent a Canadian company and give a speech espousing a low-carbon future. Another was flown to Shanghai to act as a seasonal-gifts buyer. Recruiting fake businessmen is one way to create the image—particularly, the image of connection—that Chinese companies crave. My Chinese-language tutor, at first aghast about how much we were getting paid, put it this way: “Having foreigners in nice suits gives the company face.”

Sounds odd, yeah?  It should, because the American companies these recruits are paid to represent don’t actually exist.

(more…)

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Now that the highly dramatic month of July has finally come to an end, the people of Istanbul can collectively turn a page and look to an immediate future, which appears considerably more certain, if not banal, in comparison to the recent past. The city’s bourgeoisie will head to their summer houses in the greater Istanbul region, while the upper classes augment their social status and darker skin tones at exclusive seaside ghettos such as mythic Bodrum.MORE

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The drama surrounding the potential closure of the ruling AKP party acquired a significant nuance with the decision of Standard & Poor’s to cut Turkey’s credit rating to three increments below investment grade (BB-) last week. The credit agency attributed its sudden decision to “the increasingly challenging political and global environment that Turkey faces in the near term”.MORE

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The following article from Business Week offers a good review of most of the main themes of the Turkish economy and its prospects in the event of a Turkish invasion of northern Iraq.

The article finishes on a positive note with a comment by the AKP appointed treasury minister and former Merrill Lynch economist, Mehmet Simsek.MORE

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Adding to its much coveted resume as “Europe’s bridge to the Middle East”, Turkey has now been officially recognized as the facilitator of talks between Israel and Syria. Whether or not the Israeli media agrees with Prime Minister Ehud Olmert’s motivations for publicizing the existence of talks, Turkey can at least shine in the warm spotlight of international recognition for a few weeks. (more…)

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The following article is an exhausting, yet extremely comprehensive, sketch of the most important issues in contemporary Turkish society. The author, Niels Kadritze, is the editor of the German edition of Le Monde Diplomatique. While Mr. Kadritze’s essay is somewhat lacking in terms of the organization of ideas, the quality and range of his observations are absolutely first rate. (more…)

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The Turkish economy is currently moving at full throttle. Not since the privatization reforms of the venerable Turgut Özal has there been such a sustained stretch of economic progress.MORE

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