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Mark Carney, the former governor of both the Bank of Canada and the Bank of England, gave a powerful speech yesterday afternoon. He said Canada should lead a group of like-minded nations to resist growing pressure and dominance from the United States.
Speaking at a policy forum in Ottawa, Carney said, “We must form a coalition of the willing — countries that believe in fairness, multilateralism, and shared leadership, not bullying or economic blackmail.”
He warned that the U.S. is becoming more aggressive in how it uses its power, especially through trade, finance, and diplomacy. “We are seeing a shift from cooperation to coercion,” Carney said. “Washington is trying to control global institutions and force others to follow its rules — even when those rules benefit only itself.”
Carney said Canada should not accept this. He called on other middle powers like Germany, Australia, Japan, and Brazil to work together more closely. “There is strength in unity,” he said. “We don’t need to be anyone’s satellite.”
He also took aim at what he called “America’s habit of weaponizing the dollar,” meaning using the U.S. currency and financial system to punish countries or companies that don’t follow American policies. “This erodes trust and stability,” Carney said. “It turns the global economy into a battlefield.”
Instead, Carney proposed more regional trade agreements, shared digital currencies, and deeper links with international bodies like the UN and World Trade Organization. He said countries must be prepared to “go around the U.S. when it blocks progress.”
Carney’s speech received praise from some politicians and experts who worry about U.S. unpredictability and dominance. Others warned that standing up to the U.S. could have real costs for Canada.
Still, Carney remained firm. “It’s time we stood for ourselves,” he said. “We are not against America. We are for a better, more balanced world.”
Source: News agencies.
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