Turkey’s Death Spiral
BISHKEK – The series of terrorist attacks that have struck Turkey over the last year are sending the country – once viewed as a democratic, secular model for the Middle East – into a death spiral at the very moment when its people are to vote on a new constitution next month. Tourism – which previously accounted for more than 10% of Turkey’s GDP – is withering, and foreign direct investment is set to slow considerably. These outcomes will reinforce each other, producing a vicious cycle that will be difficult to halt.
More:Turkey’s Death Spiral by Andrew Wachtel - Project Syndicate