Davos LIVE: Canadian PM Mark Carney speaks at World Economic Forum

Mark Carney, the Prime Minister of Canada, addresses the shift from a rules-based international order to an era of great power rivalry, emphasizing the need for middle powers like Canada to adapt and act decisively. He argues the old system is fracturing, with economic integration being weaponized and multilateral institutions under threat, pushing countries towards strategic autonomy. Canada's response involves value-based realism, combining principled values with pragmatic engagement, diversifying relationships, and building strength at home through tax cuts, investments, and increased defense spending. Carney advocates for variable geometry, forming different coalitions based on common values to address specific issues like Ukraine, Arctic sovereignty, and critical minerals. He stresses the importance of middle powers working together to create a third path, maintaining that sovereignty now lies in the ability to withstand pressure.