Editorial | Trump’s antics at Davos eroding the last shred of trust in US leadership

For decades, the World Economic Forum was the ultimate symbol of globalisation. This week, we may have witnessed the end of that symbolism as the so-called rules-based order looks to be crumbling. US President Donald Trump flew into Davos and held forth on his view of the world, promptly starting a clash with long-standing American allies hoping for some semblance of sense and order.

From Canada and Greenland to Ukraine, from trade preferences to tariffs, Trump demanded his pound of flesh from allies desperate for a compromise, lest the Western order fractures so much that the damage is irreversible.

Canadian Prime Minister Mark Carney, in a speech to the forum that has gone viral, denounced the hypocrisy of the rules-based order. “Stop invoking rules-based international order as though it still functions as advertised,” he said. “Call it what it is – a system of intensifying great power rivalry, where the most powerful pursue their interests, using economic integration as coercion.”

That said, while many may see this as the end of globalisation, there are still countries and people who believe in it, among them China. This was evident at the forum. The world’s second largest economy remains a strong advocate. Vice-premier He Lifeng delivered a message of multilateralism and dialogue – the latter being the theme of the forum – saying the world must not return to the law of the jungle, where the strong prey on the weak.