Canada is charting a troubling new course in the Middle East. Under the Conservative prime minister, Stephen Harper, Canadian foreign policy is tilting strongly toward Israel, a direction that is forsaking Canada’s past even-handedness in the region. This is not only undermining the country’s reputation and economic interests, it is at variance with its European allies and even in some instances the United States.
The plot goes like this. A gang of outsiders have taken over a quiet town. It’s not that this town couldn’t do with a shakeup. But the gang is mean. The approach of its leaders is to seek and destroy. Their methods offend many long-time residents who recall a time when they believe there was decorum; and, at the same time, the streets were a livelier place. But the town’s establishment is powerless to push back against the gang which, it must be said, is more disciplined and committed than its opponents.
Nearly two years after the US financial system's collapse and the worldwide economic catastrophe it triggered, Canadians can be forgiven for assuming that globalization is a dead 1990s issue... But what set the stage for the big banks' near destruction of the world's economy in 2008 occurred 15 years ago when the World Trade Organization was born and dangerously unbalanced the emerging system of global governance.
Not only did Canadian opposition to a global bank tax blindside at least one European country, but experts and diplomats say as host of the G20 summit in June, Canada could seriously challenge efforts to implement uniform international financial regulations.