Turkey's Parliament Speaker Condemns 'Vampire Capitalism' and Calls for New Economic Order

Numan Kurtulmuş, Speaker of the Grand National Assembly of Turkey, delivered a critical address at the Search for Global Justice Conference in Bursa, condemning what he termed wild, vampire capitalism as a major disruptor of the global economic system. He argued that a small elite exploits geopolitical conflicts, specifically citing the war launched by America and Israel against Iran, to generate billions in profits from market fluctuations. Kurtulmuş highlighted extreme global wealth inequality, noting that the top 1 percent owns half of the world's wealth, a disparity he described as unprecedented in human history. He criticized existing global financial institutions like the IMF and World Bank for failing to address these injustices or serve humanity broadly. Instead, he called for the establishment of a new global economic architecture that prioritizes justice, equity, and the needs of all peoples rather than just wealthy elites. Kurtulmuş emphasized that restraining rampant capitalism is essential to preventing further global disaster and ensuring human dignity amidst rising poverty and climate crises.