Carney's failed diversification gambit

Carney's failed diversification gambit

By Conrad Black Prime Minister Mark Carney’s promise to lead Canada out of the economic and foreign policy shadow of the United States, and his bizarre Davos plan to lead a Thucydidean “middle power” revolt against Washington, has accomplished virtually nothing. Highly publicized overtures to China and western Europe are inconsequential. The United States still buys 68 per cent of our exports and provides 56 per cent of our imports. The last ref…

Conrad Black: Carney’s failed diversification gambit

The last refuge of the anti-Americans, China, which 10 years ago was supposedly about to pass the United States as the world’s greatest economy, is stagnating. China’s rate of growth is minimal. Artificial intelligence is producing a modest lift but China is receiving a small fraction of the annual AI investment of the United States. It is not achieving productivity levels that can make up for the sharply declining Chinese population, a conseque…