Canadian Prime Minister Mark Carney offered unusually candid reflections on global leaders and his past as a central banker during a fireside chat in Sydney, where he appeared more relaxed than in typical public appearances.
Speaking with Michael Fullilove at the Lowy Institute, Carney described how he learned to navigate conversations with U.S. President Donald Trump. He said Trump prefers direct, private discussions and shows greater interest in hearing personal viewpoints behind closed doors than in formal public exchanges.
Carney also recounted his first meeting with Chinese President Xi Jinping during the Asia-Pacific Economic Cooperation summit in November 2025. He said Xi spent considerable time outlining how he wanted personal interactions to work, which Carney interpreted as a message not to lecture him publicly but to raise concerns directly in private.
Asked about Indian Prime Minister Narendra Modi, Carney called him “unique” and highlighted his work ethic, noting that Modi has not taken a day off in decades. Carney said Modi’s leadership style focuses strongly on delivery and results for everyday citizens.
The prime minister also touched on Canada’s broader relationship with India, noting that his current Indo-Pacific tour began there and concluded with a commitment to finalize a comprehensive trade agreement by the end of the year, along with an invitation for Modi to visit Canada. Carney said Canada is now more assertive and vigilant on issues such as foreign interference, transnational repression and cross-border security, describing the country’s approach as one of “vigilance and engagement.”
In a lighter moment, Carney compared the lifestyles of central bankers and prime ministers, joking that central bankers might have more fun because of their famously elaborate dinners. He recalled an early experience in 2008 when he had just become governor of the Bank of Canada and was attending a meeting of G10 central bankers at the Bank for International Settlements in Basel during the collapse of Bear Stearns.
Carney said a lengthy discussion about fine wine delayed urgent financial decisions, leaving only about an hour to resolve critical matters during the crisis. Looking back, he laughed that while the wine was memorable, the group ultimately managed to reach decisions under intense time pressure.
The appearance highlighted a more personal side of Carney, blending diplomatic insight with humor as he reflected on leadership, global politics and moments from the financial crisis.
