Summary (tl;dr)

Canadian Prime Minister Mark Carney recently delivered a sharp critique at the World Economic Forum in Davos, declaring the end of the U.S.-led global order and urging "middle powers" to unite against economic coercion from larger nations.

Essential Background

Mark Carney, an internationally recognized economist and former head of both the Bank of Canada and the Bank of England, assumed the role of Canada's Prime Minister in March 2025. His political platform has consistently highlighted a view that the global landscape is irrevocably changed from a "pre-Trump normal". The World Economic Forum, where these events unfolded, is an annual gathering of global political and business leaders, and this year's meeting is particularly charged with geopolitical tensions, including ongoing trade disputes and U.S. President Donald Trump's controversial assertions regarding Greenland.

The Full Story

On January 20, 2026, Prime Minister Mark Carney delivered a highly anticipated and "provocative" speech at the World Economic Forum in Davos, Switzerland. Carney boldly stated that the established U.S.-led, rules-based international order is no longer viable, asserting, "The old order is not coming back. Nostalgia is not a strategy". Without directly naming President Trump, he criticized "great powers" for leveraging economic integration as a "weapon" and warned that "American hegemony" is undermining global stability. Carney advocated for "middle powers," such as Canada, to proactively form coalitions and diversify their international relationships to build strategic autonomy, rather than passively relying on compliance for security in a world increasingly defined by intensifying great power rivalry.

Why It Matters

Carney's address signifies a potential pivot in Canadian foreign policy, advocating for a more "principled and pragmatic" stance amidst global instability. His call for middle powers to collaborate and forge new trade and diplomatic partnerships aims to reduce their vulnerability to the economic and political pressures exerted by larger nations. This proactive approach from Canada is particularly notable as it precedes President Trump's expected remarks at the same forum, underscoring a growing divergence in global perspectives on international order and cooperation.

Geographic Location

• Davos, Graubünden, Switzerland (Mark Carney delivered a special address at the World Economic Forum Annual Meeting)
• Ottawa, Ontario, Canada (Mark Carney serves as the Prime Minister of Canada and prepared for the World Economic Forum)