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In 2015, to align the Belt and Road Initiative” (BRI) of China with the “Middle Corridor Program” of Turkey, a memorandum of understanding between China and Turkey was signed. The constitutional amendment shows that Turkey’s institutional environment and economic initiatives are changing. This change enhances the marginal cost of Sino-Turkish international economic cooperation and raises new challenges for the implementation of this cooperation in the context of building the BRI. This paper aims to analyze the Middle Corridor’s current situation between Turkey and China within the scope of BRI. PEST analysis is a method used to define the macro-environment. This paper investigates the primary trend of the Turkish economy, especially economic policies, and institutions through PEST analysis; explores the reality of the economic, political, social, and trade cooperation established between China and Turkey, and characterizes problems and challenges facing this cooperation. Finally, the study suggests that the following are keys to the China-Turkey cooperation; the strengthening of political mutual trust and security coordination, further expansion of the ‘opening up’ to enhance their respective industrial competitive advantages and to augment the complementarities of trade structures already in existence.
Azer et al. (2021) studied this question.