What India needs to learn from Turkiye's economic crisis? : Economic case study

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VIDEO INTRODUCTION:

Hi everybody,
Turkiye’s economy is in shambles! In 2014, 4 Liras were equal to one dollar, but as of Jun’23, it depreciated to 23.1 Lira and by October it was already 28.1 Lira per dollar, that's a 600% decline in just 9 years! And to make matters worse Turkiye was even hit by a massive earthquake

And the situation is so bad that inflation in Turkiye reached a peak of 80% and now it stands at 61%!! And you know what Guys, Turkiye is a classic example of how politics ruined the economy of the country due to the short term decision of the politicians!! And this case study is very very important for us to learn from, because even we have our elections coming up in 2024, and just like Turkiye, if our politicians start implementing people pleasing policies, even we will be in Shambles!! And unfortunately, these pleasing policies have already started popping up!!

So this failure of Turkiye has some very very important lessons for India and every other country that is trying to revive its economy.

So in this episode today, let's dig deep and understand,
1) Why is Turkiye in such a terrible state?
2) What did their government fundamentally do wrong?
3) And most importantly, what are the lessons that India and the world need to learn from the failure of Turkiye?


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✅Study Materials:

https://www.nytimes.com/2023/06/02/bu...

https://www.cfr.org/blog/turkeys-incr...

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