Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Trump to send 2,000 National Guard troops to calm Los Angeles unrest

    VW ID.Buzz, Weber Smoque, Fujifilm GFX100RF and more

    Going it alone – CBS News

    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram Pinterest VKontakte
    Sg Latest NewsSg Latest News
    • Home
    • Politics
    • Business
    • Technology
    • Entertainment
    • Health
    • Sports
    Sg Latest NewsSg Latest News
    Home»Business»Mark Carney: democracy’s unTrump – The Business Times
    Business

    Mark Carney: democracy’s unTrump – The Business Times

    AdminBy AdminNo Comments4 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    “I WOULD like to thank Donald Trump without whom this would not have been possible.” Mark Carney, Canada’s 24th prime minister, was too tactful on Monday (Apr 28) to actually give the US president credit for his party’s return to office. But it is the Lord’s truth. By coveting Canada’s sovereignty, Trump turned the semi-Trumpian Conservative party’s projected landslide into defeat in the space of weeks. Not bad for the US president’s first 100 days. He might do a similar favour for Australia’s incumbent Labor party this weekend without even threatening to annexe the country.

    But Carney deserves credit for nailing his opponent Pierre Poilievre to the Trumpian mast. Instead of Poilievre’s me-too “Canada First”, Carney proclaimed “Canada Strong”. He did so while also distancing himself from Justin Trudeau, his deeply unpopular predecessor, as Liberal prime minister. There are lessons here for Democrats. Had Kamala Harris thrown Joe Biden under the bus with the same dispatch as Carney did to Trudeau, she may have defeated Trump last November. Most of all, Carney showed that non-populists can win in the right conditions – in this case as a foil to the world’s chief populist.

    Full disclosure: I have known Carney since the early 1990s. Though his skills as an economist and central banker were clear, Monday was the first time he stood for election. He turned 60 last month, two days after replacing Trudeau. It is hard to overstate how improbable this looked a few months ago. Carney worked for Goldman Sachs in London and New York. Then he headed the Bank of Canada. After that he became governor of the Bank of England. Then he joined a global investment firm. He promoted environmental, social and governance issues at the UN – two abbreviations that would normally debar him from impolite company. If globalism had a name and a face, it would be Carney’s. 

    Only Trump could have converted these millstones into wings. In that respect, America’s 47th president plays unwitting ally to democracy everywhere except at home. He gave Canada’s median voter a crash course in the merits of rules-based internationalism. As the only person to have run two G7 central banks, Carney can claim to know how the global economy works. Canada – like the EU, Mexico and most other countries – has suddenly awoken to the perils of a renegade America. If the US president can threaten the sovereignty of its neighbour and loyal ally, which country is safe?

    There are two broader Trump-handling takeaways. The first is that obeisance costs more. Not only does Trump disrespect sycophants, but he also goes out of his way to humiliate them. That also applies to foreign leaders. Trudeau got on a plane to Palm Beach in November when Trump first threatened tariffs on America’s neighbours. Mexico’s leader, Claudia Sheinbaum, did not make the trek. Trump speaks of her with respect; he kept taunting Trudeau as “governor of the 51st state”. Leaders tempted to cut hasty side-deals with Trump should beware. His signature is not binding. Nor will voters necessarily reward them for cosying up to him. Famously commonsensical Canada reminds us that some things – patriotism, dignity – can be valued higher than short-term growth.

    The second is that Trump is bad for Trumpians. Poilievre sold himself as a milder version of Trump. Peter Dutton, leader of Australia’s (conservative) Liberal party, has done so more brashly. Both locked themselves into a cage of someone else’s making. When Trump took steps to harm their nations’ economies, they could not easily repudiate him. Even low-information voters know a flip-flopper when they see one.

    Other right-wing leaders, notably Italy’s Giorgia Meloni, are resisting a full embrace of Trump. Britain’s Keir Starmer should also pay heed. The more he can depict the populist Reform UK’s Nigel Farage as Trump’s stooge, the tougher his implicit criticism of Trump. Alternatively, Starmer might strike a tariff deal that flattered Trump but could alienate Britain’s friends and partners. It would take guts – but not an unrealistic level of skill – for Starmer to paint both Brexit parties, including the opposition Conservatives, as stooges of a foreign strongman.

    Therein lies Trumpism’s self-detonating core. Just as Trump is dismissive of allies, he has no loyalty to friends. A large share of congressional Republicans back him out of fear, not devotion. Here again, Trump is providing the world with a crash course. The best way of redeeming the vow of “America (or Canada, Brazil, Britain, Italy, Mexico and so on) First” is to play nicely with others. Power and prosperity are multiplied by friends. FINANCIAL TIMES

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Admin
    • Website

    Related Posts

    Trump to send 2,000 National Guard troops to calm Los Angeles unrest

    What does the delisting proposal by Great Eastern mean for the minorities as well as majority shareholder OCBC? 

    US aerospace industry anxious as tariffs loom

    UBS’s US$26 billion capital hit isn’t quite as bad as it seems

    Add A Comment
    Leave A Reply Cancel Reply

    Editors Picks

    Microsoft’s Singapore office neither confirms nor denies local layoffs following global job cuts announcement

    Google reveals “material 3 expressive” design – Research Snipers

    Trump’s fast-tracked deal for a copper mine heightens existential fight for Apache

    Top Reviews
    9.1

    Review: Mi 10 Mobile with Qualcomm Snapdragon 870 Mobile Platform

    By Admin
    8.9

    Comparison of Mobile Phone Providers: 4G Connectivity & Speed

    By Admin
    8.9

    Which LED Lights for Nail Salon Safe? Comparison of Major Brands

    By Admin
    Sg Latest News
    Facebook X (Twitter) Instagram Pinterest Vimeo YouTube
    • Get In Touch
    © 2025 SglatestNews. All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.