Canada's Prime Minister Mark Carney has delivered a stark warning to Asia-Pacific leaders at the APEC summit, stating that the era of free trade and investment is over. Carney said rules-based open trade no longer works in a global economy undergoing profound change since the fall of the Berlin Wall in 1989.
In a bold move, Canada aims to double its non-US exports over the next decade, edging away from its traditional dependence on trade with the US. This shift comes as Canada looks to restart broad engagement with China, its second-largest trading partner, after years of tension and amid a rapid deterioration of ties with the US since Trump won his second term in office.
Carney's declaration has been met with relief by world leaders, but also serves as a reminder of deep-seated differences between the leaders of the two biggest economies. The US and China have backed away from an all-out trade war, which has been a point of contention among leaders, and Trump chose to skip the talks after reaching a deal on rare earth minerals, soyabeans, and tariffs with Xi Jinping.
The Chinese leader positioned himself as the champion of free and open trade, meeting Japan's new prime minister Sanae Takaichi and South Korea's president Lee Jae-myung. Carney is reportedly aiming to restart engagement with China after years of tension and amid a rapid deterioration of Canada's ties with the US since Trump won his second term in office.
Trump's departure from the summit has been criticized for demonstrating a lack of engagement with APEC countries, which together account for 40% of the world's population and 50% of trade. The US has instead focused on building relationships with its allies, including Japan and India, signing a 10-year defence cooperation framework that Hegseth hailed as "a cornerstone for regional stability and deterrence".
The APEC summit has been dominated by discussions on supply chains and free trade, with the US represented by the US treasury secretary Scott Bessent. Despite the shift in tone from Trump's administration, the region remains a complex and volatile environment, with deep-seated differences between the leaders of the two biggest economies.
As Carney looks to restart engagement with China, he must navigate a complex web of historical and territorial issues, including Japan's hawkish stance on China's military buildup in the region. The US and India have signed a 10-year defence cooperation framework, but the future of regional stability remains uncertain.
In a bold move, Canada aims to double its non-US exports over the next decade, edging away from its traditional dependence on trade with the US. This shift comes as Canada looks to restart broad engagement with China, its second-largest trading partner, after years of tension and amid a rapid deterioration of ties with the US since Trump won his second term in office.
Carney's declaration has been met with relief by world leaders, but also serves as a reminder of deep-seated differences between the leaders of the two biggest economies. The US and China have backed away from an all-out trade war, which has been a point of contention among leaders, and Trump chose to skip the talks after reaching a deal on rare earth minerals, soyabeans, and tariffs with Xi Jinping.
The Chinese leader positioned himself as the champion of free and open trade, meeting Japan's new prime minister Sanae Takaichi and South Korea's president Lee Jae-myung. Carney is reportedly aiming to restart engagement with China after years of tension and amid a rapid deterioration of Canada's ties with the US since Trump won his second term in office.
Trump's departure from the summit has been criticized for demonstrating a lack of engagement with APEC countries, which together account for 40% of the world's population and 50% of trade. The US has instead focused on building relationships with its allies, including Japan and India, signing a 10-year defence cooperation framework that Hegseth hailed as "a cornerstone for regional stability and deterrence".
The APEC summit has been dominated by discussions on supply chains and free trade, with the US represented by the US treasury secretary Scott Bessent. Despite the shift in tone from Trump's administration, the region remains a complex and volatile environment, with deep-seated differences between the leaders of the two biggest economies.
As Carney looks to restart engagement with China, he must navigate a complex web of historical and territorial issues, including Japan's hawkish stance on China's military buildup in the region. The US and India have signed a 10-year defence cooperation framework, but the future of regional stability remains uncertain.
I'm kinda surprised by Carney's warning about free trade being over 
. Canada has been pretty dependent on the US for so long, it's weird to see them trying to break away and focus on China instead 
. The timing is interesting too - with Trump out of office, it looks like a fresh start for some countries, but also leaves a power vacuum that other nations can try to fill 
.
. On one hand, they've managed to avoid a full-on trade war, which is great news 
. But at the same time, it feels like they're just trying to maintain the status quo rather than making any real progress towards change 
.
. The situation in Japan and South Korea is already pretty volatile, so it's hard to see how things will get better without some serious diplomatic effort 
.
. There are too many variables and interests at play here 
and are gonna try to make some new friends in Asia... China is like "hey, I'm the queen of free trade" 
and is gonna play hardball with Canada 
. Trump skipping the summit was a total ownage move 
, he basically said "nope, not me". Now it's up to Carney to make some magic happen in China 
. it's not just about trade, though - canada's got some major leverage here given its relationship with china and its current cooling of ties with the us 
.
.
. the country's military spending has been increasing steadily since 2008, with estimated 2025 spending reaching around $292 billion 
. no wonder japan's getting a little jumpy 
.
. stats show that canada currently trades around $24 billion worth of goods with china each year 
.
. But what about Japan? They're all like "no way" to China's military buildup in the region 
.
. Maybe Canada just wants to create some new "rules" for global trade and get ahead of the US game 
. Whatever the reason, one thing's for sure: this is gonna be a wild ride 
.
. The fact that Trump skipped the summit shows how divided we are on free trade - some people love it, others think its time to rethink the rules 
. Restarting engagement with China wont be easy tho, theres too much history and tension between them 
. I'm just hoping that we can find a way forward that works for everyone 
.
so canada is finally stepping out of its comfort zone and trying to be more than just us, lol just kidding sorta... but seriously, it's about time they did something about their trade dependence on the US. and good luck with restarting engagement with china, that's like, super complicated... 
That's crazy talk. I mean, it's not like anyone really believed in it all along anyway. But still, this is a big deal. It feels like the writing was on the wall after Trump took office and started messing with trade deals left and right.
, but it will be fascinating to see how this plays out in terms of regional stability 
. With Trump no longer at the helm, Canada might just find itself with a unique opportunity to build bridges with China and other countries 
. But we'll have to wait and see if Carney's efforts will yield any tangible results