As leaders from the world’s leading economies gathered at the World Economic Forum in Davos, Switzerland, a clear shift in the geopolitical landscape emerged. Faced with the unpredictable and often disruptive actions of the Trump administration, many Western nations have concluded that they can function better without the United States as a reliable partner.
Mark Carney, the former governor of the Bank of England, delivered a widely praised speech in which he declared the “end of a pleasant fiction” regarding the US-led global order. Carney argued that the old, rules-based system has been “trampled underfoot” by Trump’s policies, such as his threat to invade Greenland and his use of tariffs to intimidate allies.
This sentiment was echoed by other prominent figures at Davos. European Commission President Ursula von der Leyen warned that “in an increasingly lawless world, Europe needs its own levers of power.” French President Emmanuel Macron bluntly stated that the world is heading towards a “rule-free” system, where “imperialist ambitions weigh heavily on multilateralism.”
The Finnish President, Alexander Stubb, went further, arguing that liberal Europe is being “squeezed twice over” by the US, which no longer sees Europe as a priority and views it as an ideological enemy. Stubb believes that the “MAGA movement” around Trump sees itself as leading a shift away from liberalism, globalisation, and interdependence, much like Reagan and Thatcher did after the collapse of the Keynesian consensus.
This public acknowledgement of the fraying of the transatlantic alliance has not been without its dissenters. Keir Starmer, the leader of the UK’s Labour Party, has been more reluctant to join this “public confessional,” as the article describes it. However, even within Starmer’s own party, there are growing divisions about the need to not only voice differences with Trump but to actively challenge the underlying ideology.
As the world order continues to shift, the leaders gathered at Davos have made it clear that they are no longer willing to pretend that the US is a reliable ally. Instead, they are seeking to forge new alliances and find a “third path” that can provide a counterweight to the dominant powers of China, Russia, and the US. For the UK, this may mean a deeper engagement with Europe, despite the reservations of some policymakers.
