Mark Carney

The powerful have their power.

We have something too.

The capacity to stop.

For decades, countries like Canada prospered under what we called the rules-based international order.

We joined its institutions.

We praised its principles.

We benefited from its predictability.

And because of that, we could pursue values-based foreign policies under its protection.

We knew the story of the international rules-based order was partially false.

That the strongest would exempt themselves when convenient.

That trade rules were enforced asymmetrically.

And we knew that international law applied with varying rigor depending on the identity of the accused or the victim.

We're reminded that we live in an era of great power rivalry, that the rules-based order is fading.

Let me be direct.

We are in the midst of a rupture, not a transition.

Every day we're reminded that we live in an era of great power rivalry, that the rules-based order is fading, that the strong can do what they can and the weak must suffer what they must.

The powerful have their power.

but we have something too.

The capacity to stop pretending, to name reality, to build our strength at home, and to act together.

We know the old order is not coming back.