The Rundown: Canada opens doors to Chinese EV’s

Canada opens doors to Chinese EVs
Image source: Ideogram / The Rundown
The Rundown: Canada just slashed its 100% tariff on Chinese EVs to 6.1%, opening a new North American portal for BYD, Geely, and Xiaomi — and putting fresh pressure on the U.S. to respond.
The details:
Prime Minister Mark Carney announced the tariff cut alongside an initial cap of 49K vehicles annually, rising to about 70K within five years.The move comes as the EU weighs lowering its own Chinese EV tariffs, and Trump said he’s open to Chinese automakers building U.S. factories.Chinese EV exports to Mexico boomed in 2025, and Geely showcased vehicles at CES with executives hinting at a U.S. market entry within two to three years.Tesla may be the first winner, with its Shanghai plant already configured to export Canadian-specific Model Ys and with 39 stores already operating there.
Why it matters: Canada just became a test market for Chinese EVs on America’s doorstep — giving U.S. consumers a front-row seat to the cars they can’t buy. If BYD and Geely start winning fans in Toronto and Vancouver, Washington’s 100% tariff wall might be a lot harder to justify.
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GZERO Ian Bremmer at Davos: Trump’s demands put Europe in FAFO territory. FAFO is: “Fuck Around and Find Out”

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Arguing with Zombies latest book by Paul Krugman.

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Davos, Switzerland clips. Starting with BlackRock CEO Larry Fink

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Davos, Switzerland … BlackRock US$ 14 Trillion worth. What Larry Fink has to say … the warning to Capitalism. Quote “”Davos, yes. But also places like Detroit and Dublin,” Fink will say, promising to take WEF’s conversations beyond the Alpine bubble. “The mountain will come down to earth.”

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3 hours ago –Economy

BlackRock chief Larry Fink warns Davos: Capitalism must evolve

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BlackRock CEO Larry Fink, seated in a chair and speaking, both hands raised, with the World Economic Forum logo behind him.
BlackRock CEO Larry Fink at the 2025 World Economic Forum in Davos. Photo: Fabrice Coffrini / AFP via Getty Images

DAVOS, Switzerland — BlackRock CEO Larry Fink will open the World Economic Forum with a blunt acknowledgment that Davos — and the economic system it represents — is facing a crisis of legitimacy.

Why it matters: As thousands of executives and global leaders descend on the Swiss Alps for a week of cocktails and canapés, WEF’s interim co-chair will warn that the prosperity they celebrate has left too many people behind.

  • Outside of the United Nations, this year’s conference marks “the largest gathering of global leadership of the post-COVID era,” Fink will say in his opening remarks Tuesday.
  • “But now for the harder question,” he’ll add. “Will anyone outside this room care?”

The big picture: Fink, who inherits the mantle of “mayor of Davos” from WEF founder Klaus Schwab, is casting this year’s forum as an elite gathering struggling for relevance in an age of populism and deep institutional distrust.

  • “Many of the people most affected by what we talk about here will never come to this conference,” Fink will acknowledge.
  • “Prosperity isn’t just growth in the aggregate. It can’t be measured by GDP or the market caps of the world’s largest companies alone. It has to be judged by how many people can see it, touch it, and build a future on it.”

Between the lines: Fink believes the AI revolution — a theme of virtually every pavilion on the Davos promenade — will pose the ultimate test of whether capitalism can deliver prosperity beyond its traditional winners.

  • “Since the fall of the Berlin Wall, more wealth has been created than in all prior human history combined,” the world’s most powerful asset manager will say. Most of it has accrued to the kinds of people who attend Davos.
  • “Now AI threatens to replay the same pattern,” Fink will warn. “If AI does to white-collar work what globalization did to blue-collar, we need to confront that directly.”

What to watch: Fink’s remarks set the stage for a week in which Davos’ elite consensus will be tested by populist politics — including President Trump’s high-profile return.

  • Fink is also calling for more dialogue — arguing that the forum must listen to, not lecture, the people and perspectives it has traditionally excluded.
  • “Davos, yes. But also places like Detroit and Dublin,” Fink will say, promising to take WEF’s conversations beyond the Alpine bubble. “The mountain will come down to earth.”
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The Elite of the Elite Davos, Switzerland clips

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OpenAI Sam Altman … “is stealing from you”. Be aware, alert and have a belief system

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Fentanyl overdoses: President Trump on the trail of Mexico and China. Tactics may be working.

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Science girl: How Singapore’s smart waste system works

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Massimo on X: “China consumed more cement in just 2 years than the United States used during the entire 20th century.”

China consumed more cement in just 2 years than the United States used during the entire 20th century.

Between 2011 and 2013, China poured approximately 6.6 billion tonnes of cement—surpassing the 4.4 billion tonnes the United States used over the full 100 years of the 20th century.

In roughly 1,000 days, China achieved a scale of concrete construction that the U.S. took an entire century to reach.

While America built its legendary interstate highways, towering skyscrapers, and sprawling suburbs across generations, China replicated—and exceeded—that monumental physical legacy in under three years.

This breathtaking acceleration reflects an unprecedented transformation in global development, driven by the world’s most rapid urbanization in history.

Key factors included the construction of vast megaprojects (such as the Three Gorges Dam) and the explosive rise of high-density cities.

Unlike the U.S., where residential building long favored lighter, wood-framed single-family homes, China’s modernization prioritized concrete-heavy high-rise apartment towers, extensive metro systems, bridges, airports, and industrial infrastructure to house and connect hundreds of millions moving from rural to urban areas.

Yet this architectural triumph carries a heavy price. Cement production is one of the largest single sources of human-generated CO₂ emissions—accounting for roughly 8% of the global total. The sheer volume China produced during this period alone generated an enormous carbon footprint, highlighting the stark tension between breakneck economic and infrastructural growth and the urgent demands of climate change mitigation.

[China National Bureau of Statistics / World Cement Association reports]

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