Canada's leading prime ministerial candidate Mark Carney has called for the creation of a "new global trading order" less reliant on the United States, signaling that even America's closest allies are preparing for a post-American economic system.
Speaking at the World Economic Forum in Davos on Monday, Carney—a former governor of both the Bank of Canada and Bank of England—argued that President Trump's threats against Canada, Greenland, and multiple other trading partners have made clear that American economic leadership can no longer be taken for granted.
"The old world order is not coming back," Carney said, according to Reuters. "We need to build new frameworks for trade, investment, and monetary cooperation that reflect today's geopolitical realities, not yesterday's assumptions."
The speech represents a remarkable shift for Canada, whose economy sends approximately 75 percent of its exports to the United States and whose security has depended on American guarantees since the Second World War. That Carney, a centrist establishment figure who served under both Liberal and Conservative governments, would advocate reduced dependence on Washington indicates how profoundly Trump's second term has altered assumptions about transatlantic and North American relationships.
This is not anti-American rhetoric from a predictable critic. Carney, 59, is widely considered the frontrunner to become Canada's next prime minister in elections expected later this year. His background includes senior positions in American financial institutions before entering public service. His criticism of US economic policy carries weight precisely because he is not ideologically opposed to American capitalism or transatlantic cooperation.
