Carney and the selective death of the rules-based order

Canadian Prime Minister Mark Carney sounded more like a populist leader than a former central banker during his address at the World Economic Forum in Davos last month. Bemoaning the “fading” of the rules-based order, Carney delivered a surprisingly blunt speech. “The old order is not coming back,” he declared. “We are in the midst of a rupture, not a transition.” In this new reality, he warned, quoting Thucydides, “the strong can do what they can and the weak must suffer what they must.” The “revolutionary” rhetoric did not stop there.

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