Possible consequences for UK of Turkey joining EU
- Created by: Aimen Kamran
- Created on: 08-06-13 21:21
View mindmap
- Possible consequences for UK of Turkey joining EU
- Economic consequences - measured in?
- Value or volume of X
- GDP
- Turkey has had strong growth which and also is a major centre of investment
- Economic consequences - measured in?
- GDP
- Geographical position links Asia and Europe and Asia is important emerging market
- Possible consequences for UK of Turkey joining EU
- Economic consequences - measured in?
- Value or volume of X
- Turkey has had strong growth which and also is a major centre of investment
- Economic consequences - measured in?
- Can mean better exports to Asia and maybe X-led multiplier
- Turkey is large market because expecting population of 100m by 2020.
- Potentially a very attractive market for British financial or tertiary sector because Turkey is focused on secondary production iin form of textiles
- Turkey is large market because expecting population of 100m by 2020.
- Possible consequences for UK of Turkey joining EU
- Equally can mean influx of M and migrant labour for UK because free market and movement of labor
- Geographical position links Asia and Europe and Asia is important emerging market
- Can mean better exports to Asia and maybe X-led multiplier
- Turkey is large market because expecting population of 100m by 2020.
- Potentially a very attractive market for British financial or tertiary sector because Turkey is focused on secondary production iin form of textiles
- Turkey is large market because expecting population of 100m by 2020.
- Can mean better exports to Asia and maybe X-led multiplier
- Could worsen deficit and welfare bill if immigrants end up unemployed
- Definitely not something UK is seeking as it has just narrowly avoided triple dip recession
- Could simply mean slightly larger import bill because 50% (very large proportion) of Turkish imports are to Europe
- Meaning that the change in M bill will not be significant enough to worsen trade deficit unsustainably and this also may be made up for with UK X to Turkey
- Trade-off between Britain experiencing X growth but Un at home
- Geographical position links Asia and Europe and Asia is important emerging market
- could mean that UK can invest at high rates of return which brings investment income back to UK
- Will strong Turkish growth be in the form of cheap imports to the EU?
- However Turkey seems to want to M semi-manufactured goods which are not Britain's forte
- Will the UK be able to meet demand if Turkey demands X from UK? Supply may not be able to increase greatly in SR
- However in LR Britain may find various opportunities to adjust to additional demand
- Migrant labour still brings in income tax revenue and further taxes too if migrants become residents in UK
- Equally can mean influx of M and migrant labour for UK because free market and movement of labor
- Could worsen deficit and welfare bill if immigrants end up unemployed
- Definitely not something UK is seeking as it has just narrowly avoided triple dip recession
- Could simply mean slightly larger import bill because 50% (very large proportion) of Turkish imports are to Europe
- Meaning that the change in M bill will not be significant enough to worsen trade deficit unsustainably and this also may be made up for with UK X to Turkey
- Trade-off between Britain experiencing X growth but Un at home
- Could worsen deficit and welfare bill if immigrants end up unemployed
- Equally can mean influx of M and migrant labour for UK because free market and movement of labor
- However this could cause a Un problem for UK as migrants come in with more attractive skills than home market
- Migrant labour still brings in income tax revenue and further taxes too if migrants become residents in UK
- Migrant labour still brings in income tax revenue and further taxes too if migrants become residents in UK
- Turkey shown to be economically unstable previously
- Could be too much for already weak EU, several countries needing bailouts and Turkey may put too much pressure if they fell into mass Un or deficits
- Turkey shown to be economically unstable previously
- Has grown at far better rate than UK even so unlikely to need bailout or put inflationary pressure on EU
- Turkey shown to be economically unstable previously
- But EU may not be able to take risk atm because they only have a few strong members such as Germany
- Could be too much for already weak EU, several countries needing bailouts and Turkey may put too much pressure if they fell into mass Un or deficits
- Has grown at far better rate than UK even so unlikely to need bailout or put inflationary pressure on EU
- Could be too much for already weak EU, several countries needing bailouts and Turkey may put too much pressure if they fell into mass Un or deficits
- Could put CPI pressure on Eurozone if the exchange rate falls from cheap imports - imported raw materials will become more expensive to the Euro post-Turkey joining and thus zone will suffer since they don't have strong primary sector esp UK
- Will strong Turkish growth be in the form of cheap imports to the EU?
- Will strong Turkish growth be in the form of cheap imports to the EU?
- Unlikely because UK doesn't import raw materials from Turkey and probably won't in future
Similar Economics resources:
Teacher recommended
Comments
No comments have yet been made