As Prime Minister, Mark Carney has been trying to advance a new framework for Canada’s identity and engagement with the world. In his speech at Davos on Tuesday (January 20, 2026), Mr. Carney outlined a new agenda for the world — a “third path”. The suggestion seems to be to steer clear of the emerging rivalry between the U.S. and China, premised on what he called a “values-based realism”, citing Finnish President Alexander Stubb.
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Mr. Carney stands out among Western leaders for acknowledging the severe limits of the claims of the liberal international order. His framework is relevant for other middle powers, including and particularly India.
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