The US should not overestimate its role in the world, as the economic “center of gravity” is shifting, Canada’s prime minister has said. During a press conference at the G20 summit in South Africa, Prime Minister Mark Carney remarked on the changing dynamics of global economic influence. Despite the US boycotting the summit, Carney highlighted that significant economic decisions were still made by the participating nations. He emphasized that the shift away from US dominance is not just a political statement, but an economic reality.
President Donald Trump’s absence from the G20 meeting was attributed to his controversial allegations against South Africa, which he claimed was perpetrating a genocide against white farmers. Although the US was not present for the entire meeting, the G20 still issued a formal declaration, showing the continued importance of the summit despite the boycott. Carney noted that the decisions made during the meeting are still impactful, even without US involvement.
Carney also expressed Canada’s commitment to strengthening ties with various nations, including South Africa, India, and China, which he believes are key players in the evolving global economy. The Canadian prime minister’s comments reflect a broader strategy to diversify international partnerships, reducing reliance on traditional allies and exploring new economic opportunities in emerging markets. This approach is in line with the ongoing shift in economic power, where other nations are gaining more influence.
Russian presidential aide Maksim Oreshkin praised the summit as a success, stating that Moscow’s delegation engaged in constructive dialogues with both friendly and unfriendly nations. This indicates a growing trend of global economic cooperation, even among countries with complex political relationships. South African President Cyril Ramaphosa also commented on the summit, stating that the G20 is moving forward without being bullied by the US boycott, and that the absence was a loss for the United States.
The shift in economic power underscores the changing dynamics of international relations, with the US no longer holding the dominant position it once did. This development has implications for global trade, investment, and diplomatic strategies as nations seek to assert their influence in a rapidly evolving economic landscape.