Mark Carney Addresses the Reality of Where the World is Heading
By: Cecilia Fountain

Mark Carney, the Prime Minister of Canada, gave a speech at the World Economic Forum on January 20, 2026. This speech is now making history for calling out the world for not making a transition, but a rupture.

In Mark Carney’s speech he calls out the U.S. as a hegemonic country. which means a country that holds the predominant political, economic and military influence over other states. In his speech, he pointed out how the U.S. is slowly starting to build walls around itself and become a more independent nation. Meaning that it’s starting to boost its military and stuttering out other countries. With the Trump administration weaponizing tariffs (for example, the US is placing tariffs on allied countries on foreign goods like crops, cars, and other technology chips) and creating a worse supply chain because businesses are suffering from the tariffs, it seems to be taking control of how the world should move forward.
Meaning because of the U.S.’ unique position as a hegemonic country, other countries are following. They’re closing themselves off and starting to build more internal infrastructures. This is slowly creating a worsening outcome for other countries that rely on these bigger countries for support. Even countries who have the power to maybe run on their own, for example Mexico, Egypt, and Turkey still rely on the power from hegemonic countries. And even if they try to follow suit to try and block themselves off it will result in a more falling world.

So that leaves a middle country like Canada in a place to choose whether they should move along with hegemonic countries or try to create a different world that doesn’t isolate many. Canada has agreed to try and not isolate everyone and expresses that “A world of fortresses will be poorer, more fragile and less sustainable”.

In the Mark Carney speech he talks about how Canada is leading the charge in received views. Mark Carney extends his point by showing how Canada is already making strides to do so and explains how Canada has cut taxes on income, removed federal barriers to improve trade, fast tracked trillions of dollars for AI, critical mineral, and new trade, signing 12 other trade and securities deals on 4 continents, and negotiating free trade pacts with Mercosur, Thailand, India, and the Philippines. All these projects are opening up the world to connect to more equal ground.

He finalizes his speech by simplifying the importance for other middle countries to not to just follow suit. At the moment, hegemonic countries like the U.S. have the ability to break away from the rest of the world because they have the influence, capital, military, and finances to do so. However, the middle power does not. If they stay on this singular path, middle countries will continue to fight for the most accommodation from these larger superpower countries. Fighting over financial and military help even when the superpower are trying to back away. Stating, “This is not sovereignty. Its performance of sovereignty while accepting subordination “. (sovereignty is the authority of a state to govern itself). Meaning if they break away and make strides (like Canada is doing) to connect themselves with the rest of the world, they want to be left stranded and desperate. Because they will have the ability to get financial and military help from each other, not just the hegimonic countries. Finalizing the importance of connection and “ building what we claim to believe in”.

https://www.theglobeandmail.com/politics/article-mark-carney-davos-speech-full-transcript/
https://www.rev.com/transcripts/carney-at-davos