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.
Brunei, a case of missing an opportunity
As its oil and natural gas reserves near depletion, Brunei is searching for ways to diversify its economy, but thus far the only country willing to invest in the strategically located sultanate is China. Europe, the United States and Japan are missing on an important business and geopolitical opportunity in Southeast Asia.
Western leadership leaves much to be desired
Huge economic imbalances are weighing on Western economies, while global power shifts threaten the world order. But those are not the problems that leaders in Europe and many politicians in the U.S. have chosen to focus on. Instead, they continue deficit spending to pay for handouts to their supporters and marginalize outsiders who think outside the box. This lack of visionary leadership is a major source of weakness.
Socialism is worse than Brexit
Brexit may cause a lot of turmoil if the divorce process is mismanaged by London and Brussels, but economic dislocation in the UK and continental Europe will be much worse if free-market policies are abandoned on both sides of the English Channel. This is truly the worst scenario.
Greece: A European challenge
Greece has made a habit of feuding with its neighbors and flouting the European Union’s rules. Yet a peculiar double standard seems to apply to the country. Unfortunately, Europe’s toleration of Greek misbehavior will only prolong the suffering of its people from corruption and poor governance.
The new German government: a political shambles
The coalition agreement between the CDU-CSU and the SPD in Germany is the result of broken promises and abandoned principles. If the government comes about, its policies will be tilted even further to the left. The only tangible result will be more government spending. Germany is facing a crisis of leadership, and the only way to solve it is through new elections or a series of “coups d’etat” within the established parties.
Is economic inequality a bad thing?
As an inevitable consequence of free enterprise, inequality is a phenomenon that naturally fluctuates over time and poses no real threat to society. It is the governments’ attempts to bring equality through dense regulation and wealth transfers that put at risk the West’s development and democracy.
Parliaments worldwide neglect their duty to maintain fiscal discipline
The January 2018 government shutdown in Washington has been triggered for purely political aims by the U.S. Congress. Abuses of budgetary governance systems have become common in the West, facilitating dangerous overspending.
Europe and Germany’s coalition of ‘losers’
Germany’s Christian Democrats and Social Democrats were the biggest losers of September’s federal elections, and yet they are about to form a coalition government. This bodes ill for the country and for Europe, as both parties have consistently chosen the road of expediency and populism, rather than addressing the country’s or the continent’s real problems. It has all the ingredients to break Europe’s fragile cohesion.