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Terence Corcoran: The ‘hegemon' leaves Carney in the shadows

But while grabbing fewer headlines than the attacks on Iran, the PM's new trade deals with India may still be good policy

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In keeping with his widely acclaimed Davos speech, Prime Minister Mark Carney while in India delivered additional commentary reinforcing his belief that the old world power order is in decline, to be replaced by middle-power nations. In an interview in Mumbai, Carney said it would be wrong to describe India, with a booming US$4.5-trillion economy that’s twice the size of Canada’s, as a lowly middle power. With a population of 1.4 billion that has produced world-leading annual growth rates of nine per cent, India could in time become one of the world’s largest economies.

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