CALGARY — Economist and author Vikram Mansharamani has warned that Canada is fast approaching a pivotal strategic moment as the global economy fractures along US-China lines, with the country risking making long-term mistakes.Speaking to an audience at an event put on by the Modern Miracle Network, Mansharamani argued that the world is no longer organized around global, multilateral organizations, but is instead splitting into two economic and political spheres of influence dominated by Washington and Beijing in what he calls “the single most important issue that will face all of us for the duration of our professional careers.”“It's definitely a currency war, it's definitely a trade war, and it is for sure a space race,” Mansharamani said, pointing to a growing divide in trade, technology, and supply chains.Mansharamani cautioned that the shift could have significant consequences for Canada, as domestic political distractions such as debates over social topics and internal economic concerns could obscure the scale of the global realignment now underway, which creates a risk that Canadian policymakers drift into deeper economic dependence on China at precisely the wrong time.“The world is splitting into two global economies right now, and countries have to pick,” he said.“You can't diversify. You have to deepen your relationship with the team you're playing on.”His argument wasn’t that Canada should disengage with China totally, given the current geopolitical climate, but rather that trade should continue in commodities such as oil, minerals, and other raw materials.However, he drew a sharp line between selling resources and selling control..‘INFORMATION OPERATION’: China using WeChat to help get Carney elected.Canada, he argued, should avoid allowing Chinese companies to acquire strategic assets such as oil fields, mining operations, or critical resource infrastructure.“Don't sell oil fields or copper mines or other natural resources that are Canadian to China,” Mansharamani said.“Sell them the oil, make them more dependent on us. Create the vulnerabilities.”That strategy, he suggested, becomes even more important as supply chains shift away from efficiency toward resilience.“The world economy is now focused increasingly away from that globalized world where you had lowest cost, just-in-time inventory and supply chains, into one that is now not seeking lowest cost but is instead saying it should be the most resilient,” he said.He believes that for Canada, that creates an opportunity to deepen integration within the Western Hemisphere — particularly with the US — while still participating in global trade.Mansharamani pointed to signs that this shift is already underway, citing how trade routes are evolving, with more goods moving through land-based corridors and “friendly” jurisdictions rather than long-distance shipping networks vulnerable to geopolitical disruption, which he believes will create new “north-south” cooperation and trade rather than the historical global “east-west” trend.“The Western Hemisphere is emerging as the world's bastion of freedom, liberty, property rights, and protection under the rule of law, and that will enable creative innovation for this whole planet,” he stated.
