- Mark Carney, speaking at the World Economic Forum in Davos, Switzerland on Tuesday, warned that "the old order is not coming back" and that mid-range powers such as Canada need to adapt and cooperate rather than competing with each other for the crumbs from the US and China. His full speech may be found here. Meanwhile EU leader Ursula von der Leyen, speaking at the same conference, vowed that if Donald Trump follows through with his latest tariff threats, the federation's response will be "unflinching" and "united". Some European leaders, including French president Emmanuel Macron, are calling for the union to enact a never-before-used regulation known as the Anti-Coercion Instrument, which could be used to impose measures such as tariffs, trade and foreign investment restrictions, and measures affecting the intellectual property rights of the target country. A potential spanner in the works is the European far right, who are polling a little too well for elections that are due over the next few years. And you can be sure that the Trump regime will pull out all the stops to maximize the chance of those parties taking over. For his part, Trump himself is scheduled to address the WEF today, and continues to be as belligerent as ever. Perhaps the most ridiculous part is the fact that Trump is actually saying that he's pushing ahead with this in response to not winning the Nobel Peace Prize. He's not so much a Bond villain as a Maxwell Smart or Austin Powers villain.
- Alex Karp, the CEO of Palantir, also spoke at the WEF, and claimed that AI will create so many jobs that immigration won't be a problem anymore. Whether anyone actually believed him is another question.
- Doug Ford claims that Chinese cars are a security risk, saying that "when you get on your cellphone, it’s the Chinese that are going to be listening to your … telephone conversation". Now to be fair, there might be a kernel of truth to that - but given the way the US is going I'm not sure that the risk is any lower with American cars. In any case, the risk probably isn't as big as Ford thinks; BYD sells a lot of cars in Europe, where they have significantly better privacy protections than we do. The fact that they're allowed to do that suggests that Ford is wrong. In taking this position he's also doing the bidding of the US, but don't tell him that.
- A Danish pension fund, AkademikerPension, is selling off its entire holdings of US Treasuries, worth approximately $100 million. They cite concerns about the financial stability of the country under Trump.
- Donald Trump has reposted private texts from Emmanuel Macron, apparently under the impression that what he posted would make Macron look bad. Macron stands by his words (and why shouldn't he?) Then again, why would you expect Trump to understand the concept of a rhetorical question?
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