There are benefits to working with other nations as a trustworthy trader, rather than a thief.
In a unanimous vote, Canada has been selected to host the headquarters of the multinational Defence, Security, and Resilience Bank (DSRB). The bank will focus on providing long-term financing for “defence, security, and resilience initiatives” at a time when many democratic nations are rearming to counter Russian aggression, keep pace with China’s historic military build-up, and become more self-sufficient as the U.S. becomes a less reliable actor.
Canada’s selection as the host of the DSRB HQ is a sign that the approach of working with other nations towards mutually beneficial agreements is paying off, particularly in contrast to the extractive nature of U.S. relationships with other countries, relationships that inherently have no stability since signed agreements and public pledges mean little to nothing to the Trump Administration.
Trader vs Thief
You can look at this as the ‘Trader vs Thief’ distinction. If you deal with another person – or another country – as a thief, you seek one-sided, zero-sum agreements where you extract something from the other side. You win, they lose. You threaten, they capitulate. This can work for a while if you have a power differential over the other side, but sooner or later, people will stop dealing with you and will work with others to counterbalance your power.
An alternative – and far better – approach is to deal with another person – or another country – as a trader. Dealing with others as a trader means you provide value in exchange for value. You win, and they win. Instead of threatening, you offer something the other side wants, and they offer something you want in return. This is what it means to sign new mutually-beneficial trade deals with other countries, deepen defence partnerships, and establish a reputation for stability. The DSRB is an example of this, as all participants can benefit from the provision of low-cost financing for private defence firms to make rearmament more affordable and financially sustainable.
While the Trump Administration continues to take the ‘thief’ approach, Canada should entrench the ‘trader’ approach. It’s more ethically sound, more consistent with Canadian values, and will lead to more prosperity in the long-term.
Spencer Fernando
Image – Twitter
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