A battle for Turkish identity takes root in Taksim Square



The spark that ignited protests in Istanbul, which have now spread to the capital city of Ankara, has been linked to the Turkish government's controversial plans to replace a park in Taksim Square with an Ottoman-era, army barracks-replica that would house a new shopping mall.

The underlying grievances of the Turkish educated and middle class, however, are rooted in more complex factors.

Under the leadership of the prime minister, Recep Tayyip Erdogan, the Islamist-founded Justice and Development Party (AKP), has been attempting during the last few years to depict Turkey as a model nation and an alternative to other Middle Eastern and Muslim countries, especially those that underwent revolution and massive uprisings. The image AKP has been seeking to project to the world is that Turkey is a nation that has successfully married Islam with secularism; a Muslim, yet modern and secular country.

But many people of Turkey are feeling a different sentiment than the one being projected by their government. And as the last week has demonstrated, there are key grievances against Mr Erdogan's AKP that are boiling under the surface.

There is a perception in Turkey that Mr Erdogan and his party are shrinking the political spectrum of the Turkish government, centralising power into the hands of AKP, turning the country's democratic governance into an authoritarian system, and lastly, mismanaging and spilling over the war in Syria.

Yet, these grievances are not felt consensually across the country. In fact, the country is divided between factions. On one hand is the young, urban and educated of the country - the middle class. The overwhelming majority of this social base strongly opposes the current government. They argue that several laws have been passed by AKP that firmly favour Islamic-orientated morals and Sharia jurisprudence, one example being the banning of alcohol in public spaces.

The young Turkish people have responded to this new law, as we witnessed during the protests, by raising bottles of beer in the air; a message to the government that they refuse to accept the new laws.

In addition, while the young people smashed the windshields of the bulldozers that had started rolling into Taksim Square, they carried a red flag bearing the face of modern Turkey's secular founder, Mustafa Kemal Ataturk, and draped it over a police car - another reflection of the tensions between Islamism and secularism that are brewing in major modern Turkish cities.

As Mustafa, a 22 year-old university student studying architecture who participated in the latest protests in Ankara, explained: "First I voted for Tayyip Erdogan thinking that he was different from the previous military-linked rulers. We thought he wanted to further democratise the country. But he is turning it into a dictatorship and a country like Iran by banning everything fun that young people can do."

On the other hand, in smaller and rural cities, especially in the eastern region of Turkey, several major and influential Islamic organisations as well as smaller parties still hold a considerable amount of support for the Islamist-rooted AKP. Referring to this support-base, and in what appears to be a mockery of the recent protests, Mr Erdogan wrote a message via Twitter stating he could easily mobilise a million people to show their support for him in Taksim Square.

The second major reason behind the grievances and anger being demonstrated in the streets is linked to the criticism of the economic policies practised by the government.

Economists point out that Turkey was able to emerge unscathed from the global financial crisis and even perform better than European countries and many other nations because the government heavily relied on the state to be the sole economic generator, mainly pursuing economic projects involving construction and new housing.

The long-term consequence of such state-orientated policies, however, is that only a few people from the middle class benefit. This puts Turkey at risk of falling into a financial bubble - similar to the one that occurred in the United States and that led to the country's economic free-fall in 2008.

Finally, many Turkish people have expressed criticism towards Mr Erdogan's policies regarding the uprising and conflict in Syria, the Syrian regime of Bashar Al Assad and the various rebel groups operating in the country.

Many young Turks argue that the prime minister and AKP's inefficacy and uniformed polices in handling the civil war in Syria - particularly by sheltering the Syrian rebels in several Turkish cities, holding conferences for opposition groups and dragging Turkey further into the conflict - has jeopardised Turkish security. They point to Syria's repeated firing of rockets into Turkey, which have killed several Turkish citizens, as evidence.

Although the widespread protests in Turkey were primarily sparked by the government's plans to redevelop a park near Taksim Square, the crucial and underlying reasons behind these uprisings are rooted in the country's struggle between Islamism and secularism, the Turkish people's perception that their government is shrinking the political spectrum and turning authoritative, and a belief that AKP has completely mismanaged the foreign policies towards the crisis in Syria.

Bulldozers sparked this recent wave of unrest, but quelling the anger will not be as simple as directing them to leave.

Dr Majid Rafizadeh is the president of the International American Council on the Middle East

On Twitter: @majidrafizad

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

The specs

Price, base / as tested Dh1,100,000 (est)

Engine 5.2-litre V10

Gearbox seven-speed dual clutch

Power 630bhp @ 8,000rpm

Torque 600Nm @ 6,500rpm

Fuel economy, combined 15.7L / 100km (est) 

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Turning%20waste%20into%20fuel
%3Cp%3EAverage%20amount%20of%20biofuel%20produced%20at%20DIC%20factory%20every%20month%3A%20%3Cstrong%3EApproximately%20106%2C000%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EAmount%20of%20biofuel%20produced%20from%201%20litre%20of%20used%20cooking%20oil%3A%20%3Cstrong%3E920ml%20(92%25)%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ETime%20required%20for%20one%20full%20cycle%20of%20production%20from%20used%20cooking%20oil%20to%20biofuel%3A%20%3Cstrong%3EOne%20day%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EEnergy%20requirements%20for%20one%20cycle%20of%20production%20from%201%2C000%20litres%20of%20used%20cooking%20oil%3A%3Cbr%3E%3Cstrong%3E%E2%96%AA%20Electricity%20-%201.1904%20units%3Cbr%3E%E2%96%AA%20Water-%2031%20litres%3Cbr%3E%E2%96%AA%20Diesel%20%E2%80%93%2026.275%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A
The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

Francesco Totti's bio

Born September 27, 1976

Position Attacking midifelder

Clubs played for (1) - Roma

Total seasons 24

First season 1992/93

Last season 2016/17

Appearances 786

Goals 307

Titles (5) - Serie A 1; Italian Cup 2; Italian Supercup 2

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital