23 January 2026

“Take the sign out of the window” – Carney on power, coercion and middle states

Speaking at the World Economic Forum's annual meeting in Davos, Mark Carney argues the rules-based international order is in rupture, not transition – and that “middle powers” must stop performing compliance and start building shared resilience. His speech – reproduced here – calls for values-based realism, domestic strength and new coalitions to reduce coercion and preserve sovereignty.