MINT - Turkey - Beyond the Silk Road
The Documentary Podcast
BBC
4.3 • 2.7K Ratings
🗓️ 3 February 2014
⏱️ 40 minutes
🧾️ Download transcript
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| 0:00.0 | BBC World Service. My name's Jim O'Neill, and I'm an economist, and this is the final part |
| 0:06.0 | of Mint, the next economic giants. About 12 years ago, I came up with an acronym you might |
| 0:12.0 | have heard of, BRICS, that's BRIC, Brazil, Russia, India and China. Countries I could see |
| 0:19.9 | were poised to join the world's economic top table. And that's pretty much of course |
| 0:24.3 | what's happened. Ever since then, people have constantly been asking me where the next |
| 0:29.0 | economic giants will come from. Now I think I know the answer. The Mints, M-I-N-T, Mexico, |
| 0:36.0 | Indonesia, Nigeria and Turkey. If the Mints reach their potential, they could also change the |
| 0:41.8 | world. But can they do it? I'm traveling to each of them to try and find out. And today, I'm in |
| 0:48.2 | the Sea of Mint, Turkey. The Silk Road is back, and Turkey is the gateway to all the four |
| 1:00.2 | regions around us. We are manufacturing these products in Turkey, Romania, Russia, China |
| 1:09.2 | and South Africa. How much would it cost me to buy this apartment? It's about 8 million |
| 1:17.3 | 500. I ate half a million dollars. Yes. |
| 1:26.0 | I ran into a classmate online, and he offered me a job on the board of a bank that he was about |
| 1:32.1 | to buy. I told him, I said, I don't know nothing about banking. In fact, I didn't even have a |
| 1:36.3 | bank account. But he said, he didn't know anything about banking either. So it made no difference. |
| 1:42.2 | I mean, that we'd learn together in a way. Who's new as a jeggins? One of Turkey's most successful |
| 1:47.7 | businessmen. And in some ways, his extraordinary career sums up the Turkish economy. They've both |
| 1:53.1 | been volatile. And then I decided to find my own bank. I established a bank with only one million |
| 1:59.5 | dollars cash. But that was now in 87. 87. I started the bank a week after black Monday. |
| 2:04.8 | That was a pretty bold time to do. Turkey's been through pretty wild roller coaster rides since then. |
| 2:13.1 | Well, I'll give you an example of the roller coaster. The shares hit an all-time high back in |
| 2:20.0 | September 2000. It was 700 million dollars. And then in June of 2001, the shares came down to |
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