Canadian Prime Minister Carney’s speech has drawn global acclaim. From a market perspective, is his proposal—'the old order is gone, and small, medium, and large entities must unite'—achievable?

From a market perspective? Mr. Carney is certainly a skilled orator—but back home in Alberta, thousands of people are braving Canada’s bitter winter cold to queue up late at night to vote for independence. Before asking about market implications, perhaps Mr. Carney should first explain how he plans to handle this surging independence movement. A referendum could be held as early as this autumn—assuming, of course, that Carney remains in office until then.

Canadian Prime Minister Carney will visit China from the 14th to the 17th. What information is worth watching?

This visit reflects Mr. Carney’s determination to pursue strategic autonomy amid complex domestic and international pressures. It requires balancing the interests—and separatist inclinations—of resource-rich provinces like Alberta, while also addressing industrial provinces such as Ontario, whose leaders demand protection for local manufacturing industries. The challenge is extremely delicate: one misstep could trigger cascading consequences. Meanwhile, Alberta’s independence referendum has entered its final countdown. On December 23, the province’s electoral agency formally approved a referendum proposal posing the direct question: 'Do you agree that Alberta should cease to be part of Canada and become an independent country?' Voters need only answer 'Yes' or 'No'. This proposal marks the first time the issue of 'independence' has been officially framed in such unambiguous language—a development signaling that, since the Quebec sovereignty movement, Canada now faces one of its most consequential secessionist challenges yet, entering an operational phase. The electoral agency announced that the pro-referendum group 'Alberta Prosperity Project' and its CEO, Mitch Sylvester, must appoint a financial officer by early January next year before formally launching their signature-gathering campaign. More sensitively, this initiative is linked to the provincial government: Sylvester himself serves as chair of the local chapter of the United Conservative Party—the same party led by Alberta Premier Danielle Smith. This indicates that the separatist movement enjoys ties with senior provincial leadership—not merely fringe-group activity. Under current rules, Sylvester must collect nearly 178,000 valid signatures within four months. Once achieved, the question of Canada’s national integrity will be put directly to a province-wide vote. Earlier this month, the Smith administration revised citizen-initiated referendum regulations. The new rules effectively nullify judicial constitutional review, removing prior legal hurdles—and allowing Sylvester to resubmit his application free of charge. Within just weeks—from initial legal roadblocks, to regulatory overhaul, to formal approval of the referendum question—the pace has been astonishing, raising questions about whether the provincial government is actively clearing the path for secession. Moreover, tensions over Greenland have recently intensified, and MAGA-aligned forces are indeed visible behind Alberta’s independence push. With the referendum scheduled for next year, the Trump administration may well intervene directly. The U.S. strategy for absorbing Canada would likely follow a 'salami-slicing' approach: encouraging individual provinces or regions to declare independence and then join the United States—repeating, in effect, the historical precedent set with Mexico. Currently, China is preparing to resume and expand imports of Canadian agricultural products—an initiative from which an independent-minded Alberta would stand to benefit significantly. Carney’s government is urgently seeking a trade agreement with Beijing, partly driven by Alberta’s internal instability. Conversely, Ontario’s Premier has voiced objections to importing Chinese electric vehicles, criticizing Carney for failing to consult domestic automakers beforehand—and warning that Trump would likewise disapprove. Online commentary from Canadian netizens shows broadly positive reactions—including notable praise and affirmation toward China. A joint communiqué has already been issued by both countries. China is likely preparing to grant visa-free access to Canadian citizens; notably, no such policy has yet been introduced for New Zealanders following last year’s visit by New Zealand’s Prime Minister. Previously, visa exemptions were generally withheld from all 'Five Eyes' nations. Additionally, the Sino-Canadian agreement is expected to advance bilateral currency swap arrangements. Within the Five Eyes alliance, diverging interests have emerged following Trump’s return to power.

Carney Heads to Alberta Ahead of Separation Vote

4 days ago

Canadian Prime Minister Mark Carney visits Alberta before a referendum on provincial independence, emphasizing federal support for new oil pipelines and doubled production capacity.

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