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We have found
Much of the instability and
risk in the global environment can be traced to Western nations’ tendency to
judge their rivals, but also allies and partners, through the prism of
so-called Western values. The United States is powerful, self-sustained and geographically
isolated enough to get away with it for a while, but European nations face grave
danger if they continue to try to substitute pragmatic give-and-take policies
with arrogance and moralistic lectures.
Prince Michael of Liechtenstein
The CDU swept three regional elections in Germany because local candidates got back in touch with traditional Christian values. That augurs well for the September general elections, provided Chancellor Angela Merkel doesn't ignore the message.
Macron’s proposals to centralize debt and financial functions in the European
Union could, if implemented, put the bloc on a slow path toward disintegration.
However, election results in Schleswig-Holstein have confirmed that fiscally
sound policies have solid support in Germany. If the CDU and FDP can again form
a coalition after the country’s September elections, Berlin will be in a strong
position to continue to resist moves toward centralization. That will be good
news for the EU.
unlikely, a conflict between the United States and North Korea would be
disastrous. Some sort of talks to defuse the current crisis are therefore
necessary. However, high-profile talks never work, as all sides feel compelled
to make a show of strength and take tough stances. Unofficial, low-profile
negotiations would work better – and the Vatican could gain the trust of both
sides to facilitate such talks.
China & Northeast Asia
Kim Jong-un's recent provocations directed at the new U.S. administration seem to be the work of a dangerously unbalanced madman. But once the geopolitical context is considered, baiting Washington – and Beijing, for that matter – turns out to be canny survival strategy for North Korea's dictator.
The intellectually arrogant arguments against “populism” fail to consider that it is an important ingredient in any democracy. It is demagoguery that is dangerous. And there is plenty of that in France’s election campaign. With many of the candidates railing against “inequality” – a strength, not a weakness of mankind – only Francois Fillon, who supports free markets and an EU that acts as a fatherland of the fatherlands, has a realistic economic and social agenda.
returns suggest that Turkey’s President Recep
Tayyip Erdogan has prevailed in the referendum
on giving him sweeping new powers, even if this mandate may not be a strong one
at this point. The European Union should tread carefully: rather than try to
marginalize the leader of Turkey, it should find ways to cooperate with a
critically needed ally for Europe and NATO.
You may not be able to
see it, but Europe’s biggest economies have piled up enormous amounts of pension
debt. The European Central Bank’s policy of target credits and quantitative
easing has only made things worse. With politicians seemingly determined not to
notice, a systemic implosion may be inevitable.
President Trump was back in the headlines last week, for once, the media gave
his moves some positive coverage. And for good reason: the U.S. strike against
a Syrian air base, the appointment of Judge Gorsuch to the Supreme Court and
new economic policy moves all bode well for the administration.
President Donald Trump’s
economic program is perceived by many as a recipe for disaster. But its most
questionable, protectionist elements – such as the border adjustment tax – are
unlikely to be implemented or could bring completely unexpected benefits. And
the new administration’s plans for infrastructure and deregulation should bring