Rep. French Hill: 30 years after the fall of the Berlin Wall, America can't repeat East Germany's mistakes
by Rep. French Hill | November 09, 2019 12:00 AM
Crossing Checkpoint Charlie in Berlin in 1986 was a surreal experience. As part of a United States Army escort, we left prosperous West Berlin and entered the Russian sector, East Berlin, into what appeared to be the stage set of a destroyed, empty, demoralized city. Bullet and shell holes still plagued the building masonry, and fierce East German guards, the personification of the Iron Curtain, scanned "no man’s land."
The contrast between the successful policies of market capitalism and socialism could not be more stark. Flash-forward three years to October 1989. I served President George H.W. Bush at the Department of Treasury as deputy assistant secretary of the treasury for corporate finance.
Bush mustered America’s resources to help central and Eastern Europe get back on their feet, shake off the failures of communism, and rejoin the family of nations. My job was to recruit American experts and place them in finance ministries and central banks to encourage a market-based banking system, stock market formation, accounting metrics, and the adoption of private property rights and the rule of law. It was a thrill to help plant the seeds of capitalism from Poland to Bulgaria.
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READ MORE: https://www.washingtonexaminer.com/opinion/op-eds/rep-french-hill-30-years-after-the-fall-of-the-berlin-wall-america-cant-repeat-east-germanys-mistakes
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