Turkey — a key NATO player — is headed for serious economic turmoil. With Turkey’s inflation surging and a balance-of-payments crisis looming, President Recep Tayyip Erdogan has been forced to backpedal hard on his highly unorthodox economic policy by finally allowing the central bank to hike interest rates to a jaw-dropping 25%, a 7.5 percentage-point jump. This makes it all too likely that the chickens of Erdogan’s prolonged period of economic mismanagement will soon come home to roost in the form of a very hard Turkish economic landing.