Key Facts
• January 23, 2026: World Economic Forum annual meeting held in Davos, Switzerland.
• Canadian Prime Minister Mark Carney expressed a pessimistic view of a divided world.
• European Central Bank President Christine Lagarde disagreed, stating she does not fully share Carney’s view.
• Lagarde emphasized strong economic and business interdependence globally.
• World Trade Organization Director-General Ngozi Okonjo-Iweala noted the world is enduring disruptions caused by former U.S. President Trump’s trade and territorial policies.
• Carney highlighted the end of the rules-based international order and urged middle powers to unite or risk marginalization.
• Lagarde called for rebuilding trust through dialogue despite some loss of confidence.
• Photo at Davos includes leaders from IMF, WTO, ECB, Saudi Arabia, Pfizer, and New York Times editor.
• Source: Bloomberg, January 23, 2026.
Summary
At the 2026 World Economic Forum in Davos, Christine Lagarde, president of the European Central Bank, rejected Canadian Prime Minister Mark Carney’s bleak assessment of a fragmented world. Lagarde stressed the critical importance of global economic and business interdependence, highlighting strong ties and mutual dependencies among nations. WTO Director-General Ngozi Okonjo-Iweala acknowledged challenges from trade disruptions under former U.S. President Trump but emphasized resilience. Carney warned that the era of a rules-based international order has ended, urging middle powers to collaborate to avoid becoming victims of great power competition. Lagarde concluded by underscoring the responsibility to rebuild trust through dialogue, despite setbacks. This exchange reflects ongoing debates among global economic leaders about the state of international cooperation and geopolitical tensions in 2026.
