I'm John Batchew with Gordon Chang and Charles Burton, and we're looking at Canada's commitment

in the 21st century to defending the Arctic passages that are said to be opening from the

threat of adversaries. At Davos, Mr. Carney, a central banker of great experience, made a

speech that much pleased all ears.

And I read from a column by, in the Financial Times this morning, by the esteemed columnist,

Martin Wolf, in praise of Mr. Carney.

This is a sort of ringing praise that points to a future debate.

Mr. Wolf writes, Carney insisted not only that the old order is not coming back,

but that we, quote, shouldn't mourn it.

Nostalgia is not a strategy.

That old order would be the U.S. first.

The following sentence, writes Mr. Wolf, which is, quote, we believe that from the fracture we can build something better, stronger, more just, end quote, is a hope, but also not a strategy.

A sober analyst must ask whether and how far it might become one.

Wow.

Come on, Charles. This was a rock-solid speech, which was a dream for the Europeans.

How is it understood in Ottawa and across Canada? I mean, it has increased Mr. Carney's

considerably. It's sort of, you know, Canada's back as a leader of middle powers. But, you know,

he also made a statement about the USMCA where Mr. Carney said, and I quote, the world has

changed, Washington has changed. Almost nothing is normal in the United States. That's the truth.

And so it does seem to be responding to the Europeans fear of saying anything that will lead

to further coercive retaliation by the United States, you know, the imposition of tariffs,

such as the additional 10% if European nations sent troops to defend Greenland or whatever.

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