Turkey could be the hub of a new silk road, predicts HSBC economist
Turkey is "uniquely positioned" culturally and geographically to establish new links east, west and south in a modern incarnation of the Silk Road, according to HSBC Group Chief Economist Stephen King. Speaking to reporters late last week, King said that economically, the next 30 years will be dominated by the emerging world, while the West becomes "a shadow of its former self." The key issues of climate change, income inequality and the scramble for scarce resources will characterize this time, along with risks of economic protectionism and conflict, according to King. "We're witnessing a modern-day version of the Silk Road and, like its original, Turkey is uniquely positioned to take advantage," he said. "While political links with Europe are incredibly important, Turkey finds itself in a unique geographical and cultural position to establish growing links both to the East and to the South."