The terrorist bombing today in the center of Istanbul’s tourist district — coming three months after twin suicide bombings at a peace rally in the capital of Ankara — is the new normal for Turkey. Just as Saudi Arabia, Pakistan, and Syria experienced after they had sponsored and supported Islamist extremists conducting terrorism abroad, Turkey now is facing years of blowback. The question policymakers and investors must ask is what a sustained terror campaign will do to Turkey’s economy and, indeed, whether Turkey can afford it.Initially, while it looked like Turkish leader Recep Tayyip Erdoğan’s Justice and Development Party (AKP) …read more
Source: American Enterprise Institute for Public Policy Research