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Howard's Way.... a weekly column from the Rt. Hon. Michael Howard QC. MP. 

22 January 2009

This is a big week for the world. The inauguration of a new President of the United States is always a matter of great significance. Despite the increasing importance of countries like China the United States remains by far the most powerful influence on our planet.

That is particularly true at the moment. We all face an economic and financial crisis which is the most serious since the Second World War.

 Although it is the case that some countries, like our own, are much less well-placed to coped with it than others it is also true that the crisis is global and its reach. The American economy is the engine of the world economy. The impact of the crisis can be mitigated by measures taken in other countries but the world economy as a whole will not recover until America recovers.

Putting in place the policies that will hasten this recovery is the biggest challenge facing the new President.

But it is by no means the only challenge.

As recent events in the Middle East have emphasised the need for American intervention to bring about a settlement of the long-standing disputes in that area is very pressing.

Then there is the problem of Iran and how to prevent that country acquiring nuclear weapons.

Russia, too, has been flexing its muscles and will take advantage of any American weakness or distraction.

It is not surprising therefore, that many commentators have said that the challenges facing President Obama are matched only by the challenges which faced Presidents Washington, Lincoln and Roosevelt.

Indeed it is no exaggeration to say that the hopes of the world rest on his shoulders. I wish him good fortune and every success.