Janice and Rudyard believe this war was a strategic defeat for the U.S. with Iran now in control of a chokepoint through which 25% of the world's energy flows. Is this the end of freedom of navigation in international waters? Iran is proposing a toll for passing through the Strait of Hormuz using cryptocurrency which could erode an important U.S. strategic chokepoint: the dollar's role as the world's reserve currency. Meanwhile America's major allies - NATO members, Asian countries and the Gulf States - have lost confidence in America's ability to protect them. How will China take advantage of America's strategic blunder? Can J.D. Vance use this conflict to advance his own political ambitions? And will the U.S. make serious concessions to Iran about tolls, sanctions, and enriched uranium? This week, geopolitics shifted beneath our feet—and it may mark the start of America’s decline.

 

Thank you to this week's new curators Stephanie G and Suzanne L for making the full edition of this Friday Focus available to all paying and non-paying subscribers.

To beome a Munk Donor, Supporter, or Curator go to https://munkdebates.com/membership/

 

 

Janice and Rudyard believe this war was a strategic defeat for the U.S. with Iran now in control of a chokepoint through which 25% of the world's energy flows. Is this the end of freedom of navigation in international waters? Iran is proposing a toll for passing through the Strait of Hormuz using cryptocurrency which could erode an important U.S. strategic chokepoint: the dollar's role as the world's reserve currency. Meanwhile America's major allies - NATO members, Asian countries and the Gulf States - have lost confidence in America's ability to protect them. How will China take advantage of America's strategic blunder? Can J.D. Vance use this conflict to advance his own political ambitions? And will the U.S. make serious concessions to Iran about tolls, sanctions, and enriched uranium? This week, geopolitics shifted beneath our feet&mdash;and it may mark the start of America&rsquo;s decline.
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Thank you to this week's new curators Stephanie G and Suzanne L for making the full edition of this Friday Focus available to all paying and non-paying subscribers.
To beome a Munk Donor, Supporter, or Curator go to https://munkdebates.com/membership/
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The Munk Debates podcast is an extension of the main stage events - in subject, speaker selection, tone and format. It will introduce the iconic brand - and its engaging debates about significant issues of our time. Audiences will hear strong and passionate arguments from both sides of an issue so they will have enough information to make up their own minds about where they stand.

The Munk Debates podcast is an extension of the main stage events - in subject, speaker selection, tone and format. It will introduce the iconic brand - and its engaging debates about significant issues of our time. Audiences will hear strong and passionate arguments from both sides of an issue so they will have enough information to make up their own minds about where they stand.

The Munk Debates Podcast

The Munk Debates Podcast is dedicated to convening civil and substantive debates and dialogues on the big issues of the day. 

 

The podcast is an extension of the charitable Munk Debates' commitment to pushing back against the political polarization and restoring the art of public debate in our time. For more information about the Munk Debates visit www.munkdebates.com/podcast

The Munk Debates Podcast is dedicated to convening civil and substantive debates and dialogues on the big issues of the day.&nbsp;
&nbsp;
The podcast is an extension of the charitable Munk Debates' commitment to pushing back against the political polarization and restoring the art of public debate in our time. For more information about the Munk Debates visit www.munkdebates.com/podcast

Munk Debates Podcast

Friday Focus: A historic week in geopolitics signals the unravelling of America's global dominance

Mark Carney has proposed a “Canada Strong Fund” which will launch with a C$25 billion endowment focused on domestic infrastructure, part of a broader effort to reduce Canada’s reliance on the United States after tariffs have strained the economy. Canadians would also be able to invest their own savings in the fund. But with productivity declining for decades, it’s unclear how this initiative meaningfully addresses the country’s deeper growth challenges. At a moment of real urgency, the question remains whether this represents a serious step toward fixing Canada’s underlying economic problems.

 

Mark Carney has proposed a &ldquo;Canada Strong Fund&rdquo; which will launch with a C$25 billion endowment focused on domestic infrastructure, part of a broader effort to reduce Canada&rsquo;s reliance on the United States after tariffs have strained the economy. Canadians would also be able to invest their own savings in the fund. But with productivity declining for decades, it&rsquo;s unclear how this initiative meaningfully addresses the country&rsquo;s deeper growth challenges. At a moment of real urgency, the question remains whether this represents a serious step toward fixing Canada&rsquo;s underlying economic problems.
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Munk Dialogue with Andrew Coyne: Mark Carney's new sovereign wealth fund is a solution in search of a problem down

Rudyard and Janice open the show with news of the Spring 2026 Munk mainstage debate: Be it resolved, don't go hunting monsters. A timely debate on competing interventionist and restraint-based approaches to foreign policy now contending for dominance in the halls of power. Rudyard and Janice move on to the Iran war and the shaky ceasefire that Trump has extended despite Iran's attacks on vessels in the Strait of Hormuz. With the Strait now closed, this has become an economic war and an endurance test: which country can withstand the pain longer? This is the single largest energy shock the modern world has ever seen that will bring about significant inflation. How will inflation further radicalize populist movements and destabilize governments around the globe? In the back half of the show Rudyard and Janice turn to upcoming trade talks between Canada and the US. PM Carney is warning Canadians that there is a bumpy road ahead and concessions will need to be made that will likely yield a scaled down agreement with a narrower scope. Rudyard suggests that despite Trump's animosity towards our country, Canadians would be wise to accept that our economic interest lies in a better trade relationship with the U.S. over diversification overseas. Carney should consider delaying any concessions until the midterms and restart negotiations in November with a politically weakened president.

 

Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus. Go to www.munkdebates.com to sign up.

Rudyard and Janice open the show with news of the Spring 2026 Munk mainstage debate: Be it resolved, don't go hunting monsters. A timely debate on competing interventionist and restraint-based approaches to foreign policy now contending for dominance in the halls of power. Rudyard and Janice move on to the Iran war and the shaky ceasefire that Trump has extended despite Iran's attacks on vessels in the Strait of Hormuz. With the Strait now closed, this has become an economic war and an endurance test: which country can withstand the pain longer? This is the single largest energy shock the modern world has ever seen that will bring about significant inflation. How will inflation further radicalize populist movements and destabilize governments around the globe? In the back half of the show Rudyard and Janice turn to upcoming trade talks between Canada and the US. PM Carney is warning Canadians that there is a bumpy road ahead and concessions will need to be made that will likely yield a scaled down agreement with a narrower scope. Rudyard suggests that despite Trump's animosity towards our country, Canadians would be wise to accept that our economic interest lies in a better trade relationship with the U.S. over diversification overseas. Carney should consider delaying any concessions until the midterms and restart negotiations in November with a politically weakened president.
&nbsp;
Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus. Go to www.munkdebates.com to sign up.

Friday Focus: Munk Debate on Foreign Wars, a shaky ceasefire with Iran, and Carney braces for tough trade talks

The historic Israel-Lebanon ceasefire announced this week is the result of a direct conversation between the President of Lebanon and the Prime Minister of Israel. And yet, this deal was brokered by the U.S. against the wishes of Bibi Netanyahu as it has impeded Israel's ability to push Hezbollah back from its border. Coupled with the halting of the Iran war - and being excluded from that negotiating table - the events of the past few weeks have resulted in a political and strategic defeat for Israel. What effect will this have on Netanyahu’s standing ahead of the next election in Israel? And are these unfavourable outcomes the result of growing daylight between Washington and Jerusalem? In the second half of the show Rudyard and Janice turn to Canadian domestic politics and the Liberals securing a majority rule via floor crossings and by-elections. Why are we seeing an unprecedented exodus of MPs to the Liberals? Is there something more going on behind the scenes? And how will this growing collapse of party loyalty and the bonds of party affiliation weaken our democracy?

Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus. Go to www.munkdebates.com to sign up.

The historic Israel-Lebanon ceasefire announced this week is the result of a direct conversation between the President of Lebanon and the Prime Minister of Israel. And yet, this deal was brokered by the U.S. against the wishes of Bibi Netanyahu as it has impeded Israel's ability to push Hezbollah back from its border. Coupled with the halting of the Iran war - and being excluded from that negotiating table - the events of the past few weeks have resulted in a political and strategic defeat for Israel. What effect will this have on Netanyahu&rsquo;s standing ahead of the next election in Israel? And are these unfavourable outcomes the result of growing daylight between Washington and Jerusalem? In the second half of the show Rudyard and Janice turn to Canadian domestic politics and the Liberals securing a majority rule via floor crossings and by-elections. Why are we seeing an unprecedented exodus of MPs to the Liberals? Is there something more going on behind the scenes? And how will this growing collapse of party loyalty and the bonds of party affiliation weaken our democracy?
Become a Munk Donor ($50 annually) to get 72-hour advanced access to the full length editions of Friday Focus. Go to www.munkdebates.com to sign up.

Friday Focus: A historic week in geopolitics signals the unravelling of America's global dominance

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