Who is Mark Carney, the front-runner in Canada’s PM race?

OTTAWA, Canada | Xinhua | The nationwide race to choose the next leader of the governing Liberal Party of Canada will conclude on Sunday, and the winner will also become Canada’s new prime minister.

Mark Carney is the front-runner to become the next leader of the party to replace Justin Trudeau, who resigned as party leader in January but stays on as prime minister until his successor is chosen.

WHO IS CARNEY?

Carney was born in the town of Fort Smith in Canada’s Northwest Territories in 1965, and raised in Edmonton, capital city of Alberta Province.

He graduated from Harvard University with a bachelor’s degree, and received his doctoral degree in economics at Oxford University in 1995. He started his career in finance, with rich working experience at Goldman Sachs, before joining Canada’s public service.

As governor of the Bank of Canada during the 2008 financial crisis, Carney guided Canada through one of the most turbulent economic periods in modern history.

In 2013, he was recruited as governor of the Bank of England, the first non-British to take the role, leading efforts to support the British economy through Brexit and the economic and political crises that followed.

In 2020, he began serving as the UN special envoy for climate action and finance, helping rally the world to build stronger economies.

On Jan. 16, Carney announced that he is seeking the leadership of the Liberal Party after Trudeau quit the post. Should Carney win the vote, he would become the first Canadian prime minister who has never worked as an elected official.

POLICY CLAIMS

Carney has presented a new economic plan to create higher-paying jobs, improve affordability and strengthen national security.

According to his plan, removing barriers to internal trade would lower prices for consumers by reducing trade costs up to 15 percent and expand the economy by 4-8 percent over the long term.

“We are masters of our own economic destiny,” said Carney. “Canada is stronger when it is united, which is why we need to create one Canadian economy instead of 13.”

Tariffs imposed by the United States have renewed the urgency to address the long-standing barriers that have fragmented the Canadian economy and reduced opportunities for too many Canadians, said Carney.

In a recent leadership debate, Carney highlighted his experience of leading the Bank of Canada during the 2008 financial crisis when the four candidates expounded their stances on Canada-U.S. relations in the shadow of U.S. President Donald Trump’s threats.

“In a situation like this, you need experience in terms of crisis management, you need negotiating skills, but you also need economic expertise,” he said.

Carney also promised to invest in infrastructure, such as the highways, rails and ports, to improve Canada’s productivity and economic competitiveness.

“By accelerating decision-making on major projects, Canada will be able to lower costs, attract more investment, create more jobs and build the strongest economy in the G7,” said Carney.

Trump’s tariff threats and remarks on making Canada the 51st state of his country have fueled nationalist sentiment among Canadians. The sentiment has also bolstered the Liberal Party’s chances of victory in the upcoming parliamentary elections, with the party showing improved performance in opinion polls.

Two months ago, when Trudeau announced his resignation amid dismal public opinion polls, the risks were high for his party to be swept from power by the Conservatives in an election. ■