“financial infrastructure as coercion”
During a panel at the World Economic Forum in Davos this year, Canadian Prime Minister Mark Carney remarked that major powers are now using their control over global payment systems and monetary networks as a tool of pressure. His comment came amid growing debate about reducing reliance on the U.S. dollar, which the United States has historically leveraged against opponents but, under President Donald Trump, has increasingly employed against allied nations as well. Carney suggested that as the world shifts toward a multipolar order, middle-ranking countries will need to develop ways to resist such financial tactics. The discussion highlights rising concern over the weaponization of economic infrastructure and its implications for global trade and diplomatic relations.
- crikey.com.au ↗︎07 JUL 2026