At the World Economic Forum in Davos, Canadian Prime Minister Mark Carney delivered a stark warning about the breakdown of the postwar, rules-based international order. He framed the current geopolitical climate not as a temporary disruption but as a fundamental 'rupture', driven by intensifying great power rivalry. Carney argued that powerful nations are increasingly weaponizing economic tools, stating, "Great powers have begun using economic integration as weapons, tariffs as leverage, financial infrastructure as coercion, supply chains as vulnerabilities to be exploited."
While not naming US President Donald Trump directly, the remarks were widely seen as a response to recent American actions, including tariff threats against European allies and escalating rhetoric over Greenland. Carney emphasized that middle powers like Canada can no longer rely on historic alliances for protection and must band together, coining the phrase, "Middle powers must act together because if we’re not at the table, we’re on the menu." He reaffirmed Canada's unwavering support for Greenland, Denmark, and NATO's Article Five collective defense clause.
The speech highlighted the fading era of "American hegemony" that once provided stable financial systems and security. Carney asserted that adaptation is unavoidable, with Canada now seeking to build new coalitions with a wider range of partners, citing recent agreements with China and Qatar.
In a related market analysis, the geopolitical tensions and warnings of 'financial coercion' are reported to have sparked a rush toward perceived safe-haven assets and offshore crypto treasuries. Following the speech, traditional stocks and cryptocurrencies faced downward pressure, while gold and silver hit new all-time highs. The analysis suggests that in this climate of uncertainty, assets like precious metals and certain crypto treasury strategies are being viewed as shelters from potential economic weaponization and global instability.
