Carney’s Davos Speech Has a Big Hole in It

The only thing more dangerous than Davos Man peddling old buzzwords is Davos Man peddling new ones. Canada’s Prime Minister Mark Carney was the toast of Davos for his speech on how middle powers can save the liberal order. The New Yorker gushes that the speech is even more impressive in retrospect than it was at the time, describing it as nothing less than a “charter for the bleak years ahead.” Carney is off to Australia in March in pursuit of his middle-power policy. The only problem with his idea is that it has a hole in its heart.

Carney’s argument is stark: In a world where a rogue America is facing off against an authoritarian China, the only hope is for middle powers to unite in defense of the fading liberal order. The middle powers can club together to save multilateral institutions, promote free trade and safeguard liberal values.