Comments written by Prince Michael of Liechtenstein himself provide an informed viewpoint on crucial geopolitical issues. Sometimes challenging and always thought-provoking, these brief commentaries take a stance that stimulate debate.
A choice for economies: Freedom or socialism
Some say the global economy is slowing down due to Brexit and the U.S.-China trade dispute – but these developments are not the real dangers. Far more insidious is the trend toward increased government influence in economies and large public debts. Yet, even many economists have adopted the notion that government intervention and high debt can be a good thing. These policies have been tried before and failed. Worse, they can end up limiting freedom.
Changing scenarios in the Middle East maze
As Iran becomes stronger and more assertive in the Middle East, two blocs – pro- and anti-Iran – are beginning to take shape. This was exemplified by two high-profile summits in mid-February: one led by the U.S. in Warsaw, and the other in Sochi between Russia, Turkey and Iran. Although Iran’s rise is cause for concern, the question is what options a U.S.-Arab-Israeli alliance might have.
Planning the economy
Politicianal interventions rather than markets are causing economic crises in the world. Misguided attempts to centrally plan and manage the complex transactions of millions of different players are bound to produce unexpected results. In 2007-2008, politically inspired intervention in the housing market in the United States caused an international financial crisis of epic proportions. These days, policies of abundant money supply and unrestricted debt promise trouble for the developed countries.
Fake problems, real dangers
The hysteria over inequality continues to grow, with calls for higher taxes and more regulation. None of that will achieve what should be the real goal, however: reducing poverty. To do that, entrepreneurs and innovators need to be freed from burdensome red tape and interventionist governments reined in.
Brexit: An unnecessary problem
British Prime Minister Theresa May finds herself in a tough spot on Brexit: Brussels is unwilling to make more concessions, but the British Parliament looks unlikely to accept the current agreement. It didn’t have to come to this, but a lack of pragmatism on both sides has brought us here. A hard Brexit will cause a lot of disruption, but it could also offer an opportunity for a new start in politics on both sides of the English Channel.
An offense to common sense and EU principles
The EU’s international trucking business, now dominated by highly competitive companies in Central Europe, can be disrupted by Brussels’ ham-handed attempt to shield cargo movers in countries with high minimum wages. The issue has political ramifications for the EU as well.
Mounting tension in Asia
Pressure is building in relations between the U.S. and China, especially after the recent APEC summit. However, the heightened rhetoric used there could give both countries a chance to climb down and come to a deal. Presidents Donald Trump and Xi Jinping will have a perfect opportunity to do so during the G20 summit in Buenos Aires.
The lessons from the last 100 years of Central Europe’s history
The emergence of new nation-states from World War I was hailed as a triumph for self-determination, but the destruction of democratic empires that held them previously hardly brought peace and prosperity to the continent, especially Central Europe.