Mark Carney Declares End of US-Led World Order
Former Bank of England Governor Mark Carney has declared the old world order dead, warning that great powers are now weaponising trade, technology, and the environment. Speaking as a frontrunner for Canada’s next Prime Minister, he called for a “new economic nationalism” to navigate this volatile era.
Key Takeaways
- Mark Carney states the US-led global order is over.
- Great powers are using trade and tech as strategic weapons.
- He urges Canada to adopt “new economic nationalism”.
- Climate change is flagged as the top threat to prosperity.
A New Era of Great Power Competition
Carney, also the UN Special Envoy for Climate Action and Finance, delivered his stark assessment at the Liberal Party of Canada’s national convention in Ottawa. He framed the current moment as a “new era of great power competition,” requiring nations to be clear-eyed and prepared.
“The old world order is dead. The great powers are now weaponising trade, technology and even the environment,” Carney said.
His comments arrive amid heightened West-China tensions and Russia’s war in Ukraine. The former central banker, seen as a potential successor to Prime Minister Justin Trudeau, has previously criticised China’s economic policies, warning its rise challenges global stability.
Call for Economic Sovereignty and Climate Leadership
Carney argued that Canada must build economic resilience to protect its interests and values in this shifting landscape.
“We need to be clear-eyed about the challenges we face. We need to be prepared to defend our interests and our values,” he said.
He directly linked national security to climate action, urging massive investment in clean energy.
“Climate change is the greatest threat to our prosperity and security. We need to act now to build a clean economy for the future,” he said.
Carney is among several candidates for the Liberal Party leadership, with an election expected in 2025.
