The company is caught in a double bind.If it doesn’t modernise it won’t make money, but if it does modernise they’ll have to make people redundant because they won’t need them any more.
To modernise its economy, it has remained wedded to industrial policies, state-owned enterprises, and a “techno-nationalism” that protects and promotes home-grown technologies.
By way of continuity, some historians note that the empire was itself reforming and modernising, with contested elections and enhanced rights for non-Muslims.