Canadian Prime Minister Mark Carney has said that the global system of America’s leadership and dominance is now over. From the stage of the World Economic Forum in Davos, Switzerland, he clearly said that the world is not in a phase of change but of breakdown and the old system is not going to return. He said that the story of a rule-based world was never entirely true. Carney further said that earlier this rule used to work and the world got some benefit from American dominance, but now it no longer works. Economic power is being used as a weapon. Canadian PM said that big powers are now using economic power as a weapon of pressure. According to him, pressure is being used by weaponizing tariffs, coercing countries through the financial system and exploiting supply chain weaknesses. Carney said the financial, health, energy and geopolitical crises of recent years have shown how dangerous global overdependence can be. A change in strategy is necessary for Canada. Carney warned that it is now wrong to assume that old alliances alone are a guarantee of security and prosperity. He said, “When mutual association itself brings you under the pressure of others, then you cannot live in the lie of mutual benefit.” Carney said that Canada will have to follow a policy that is based on principles and also works on the ground. Under this, emphasis was laid on diversifying trading partners to strengthen domestic capabilities and reduce dependence on any one country. Global institutions have weakened, countries should prepare themselves. Carney said that multilateral institutions like the World Trade Organization and the United Nations have weakened. In such a situation, countries will now have to be prepared for their own security, energy and food needs. “A country that cannot feed, energy and protect itself has very few options,” he said. Macron said – We are moving towards a world without rules. French President Emmanuel Macron said that the world is moving towards an era where international laws are being crushed and only the powerful are ruling. Macron accused the US of using its trade policies to weaken Europe, extract maximum concessions and impose tariffs as pressure against regional sovereignty, which is “fundamentally unacceptable”.
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