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There are differences between empires. If Turkey was to become an empire, they'd basically have to solve the Palestinian war. Were Greece to re-establish the Byzantine empire, they'd have to deal with the EU in its entirety. I'm using these two countries as an example because they're also continuously having similar incidents (and they keep piling up, with Turkey offending).
As far as contest in military power goes...I believe that numbers count a lot more than technology, but above all, face matters. We live in a pretend-peaceful era, where actions of war are universally condemned, so who in their right mind would send an entire country into a detrimental state for both economy and diplomacy?
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