Turkey Boom Lets Erdogan Take Up Masterpiece

At the height of his power in a country he has transformed, Turkish Prime Minister Recep Tayyip Erdogan is positioned for the first time as an anchor of stability and economic growth both in Europe and the Middle East.

Erdogan’s brand of moderate Islamist politics -- his Justice and Development Party, or AKP, calls it “conservative democracy” -- has won admirers across the region, Bloomberg Markets magazine reports in its October issue.

From the North Sea to the Persian Gulf, they watched as Erdogan, first elected in 2003, turned a nation addicted to unstable coalition governments into one whose political system is seen as a potential model by the Arab spring countries of North Africa and the Middle East.

Under Erdogan, the Turkish economy has posted achievements that are the envy of its neighbors. In the first quarter of the year, gross domestic product expanded by 11 percent on an annualized basis, faster than in China or any other developed economy.

That followed an 8.9 percent expansion in 2010 as Turkey bounced back from the global financial crisis. The performance of the $740 billion economy, the world’s 16th largest, has been “magnificent,” Erdogan, 57, told party members three weeks after the June 12 election in which the AKP won 327 of the 550 seats in the Grand National Assembly.
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