Turkey: Escape artist or fall guy?

The Turkish economy has made great strides forward since the financial meltdown of 2001. But has it changed enough to survive the global economic slump? Guy Norton reports from Istanbul.

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NO COUNTRY IN emerging Europe does economic crises quite like Turkey. Having spent the best part of the post-World War II period trapped in a series of seemingly interminable boom-bust cycles, the country suffered a spectacular meltdown in 2001, just as the rest of so-called New Europe was entering what with the benefit of 20/20 hindsight looked like a golden era of high liquidity and rapid economic growth.

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