The world is going through a period of turbulence. The pandemic, the wars in Ukraine and Gaza, the bombings in Lebanon, the increase in tensions between the great powers, polarization, competition for strategic resources, growing protectionism, the ecological and digital transitions, and the recent prominence of artificial intelligence are some of the elements that condition political and economic life. Added to this is the uncertainty about the outcome of the presidential elections in the United States. With that backdrop, the Latin America, United States and Spain in the Global Economy forum analyzed this week in New York the geopolitical, technological and economic trends in the world. The forum, organized by EL PAÍS and the Spain-United States Chamber of Commerce, and sponsored by DLA Piper, Iberia, Inditex, Indra, NTT Data and Total Protect in collaboration with the Organization of Ibero-American States (OEI), underlined the importance of transatlantic ties for the progress of these regions in the midst of uncertainty.Continuous change has become the new normal to get used to, as several of the participants in the sessions held at the Paley Center, in the heart of Manhattan, highlighted. “International politics is undergoing important transformations that require a response joint and decisive,” said the Spanish Minister of Foreign Affairs, José Manuel Albares, at the opening. “We are facing unprecedented challenges,” he added.
The president of Indra, Marc Murtra, stressed that, paradoxically, uncertainty also leaves some certainties. Among them, he highlighted the need for strategic autonomy and the importance of technology. “The future is technological,” he proclaimed, reflecting especially on artificial intelligence, something “absolutely transformative,” he said. “At Indra we are betting heavily on artificial intelligence and it is already a tool that we use everywhere,” he said. The president of the technology firm warned against regulatory excesses in the matter. He pointed out that “artificial intelligence must first be developed and then it must be legislated prudently.” “Artificial intelligence is the toothpaste that has come out of the tube and we can no longer put it back in,” he said.
Debates about artificial intelligence dominated much of the day. Company executives stressed the importance of technology and digitalization. The CEO of ACS, Juan Santamaría, with a strong presence in the United States through different subsidiaries, stressed that the future, at least with regard to infrastructure, passes through the digital world: data management, high technology , artificial intelligence. And when it comes to data management it can be summarized in four words: digitalization, demography, decarbonization and deglobalization. “They are the four Ds that will guide the future in the United States and other places.”
Renewable energies
The CEO of Avangrid, Pedro Azagra, spoke about investments in networks and renewable energies. The two must go hand in hand, one is not possible without the other, he emphasized. Through Avangrid, the Iberdrola group, chaired by Ignacio Sánchez Galán, has an investment plan of 30 billion dollars in the country until 2030, according to the director of the US subsidiary. Iberdrola is a clear example of a company with transatlantic bridges and a large presence in Spain, Latin America and the United States, and which has also taken the lead in the energy transition around the world.
“I am often asked how to do business in the United States,” Azagra said. “And the first thing you need is to be local. But going local means you need to understand all the parties involved,” he explained. In your case, that of a large energy company, it is essential to build ties with local communities, with authorities, regulators, customers, suppliers and other interest groups; It is part of the daily work of those responsible for the companies, he explained. “Talking about alternative energy sources used to be just a niche, now it has become dominant,” said Miguel Stilwell de Andrade, CEO of EDP (Energías de Portugal). ), a company present in 29 countries and that generates 98% of all its energy through renewable sources. His goal, he said, is to reach 100% by 2030.
For this, and for the fight against climate change at a global level, Stilwell highlighted that the debate in the last two decades has taken giant steps. Now there is no longer any discussion about the competitiveness or viability of renewable energies, because that is an outdated discussion. Now, the focus on greener energies must be placed on overcoming the reluctance and opposition of certain sectors resulting from polarization and political opposition. The businessman mentioned the example of Germany, in which through the creation of the “primary public interest”, which prevails over any private interest, it shields environmental decisions. Marco Antonio Achón, president of the Spain-United States Chamber of Commerce He stressed that Spain, the United States and Latin America “share deep historical, economic and cultural ties,” and stated that contacts between authorities, businessmen and personalities such as those of the forum allow us to “further strengthen the bridges” between these regions.
Joseph Oughourlian, president of PRISA, the publishing group of EL PAÍS, drew attention to the fact that Latin America is barely talked about in the debates and speeches of the candidates for the US presidency. Worse still, that only the region as a threat due to immigration. He contrasted that attitude with that of a China that has been making multi-million dollar investments in Latin America over the last decade, mainly focused on its valuable natural resources.
Interest in Latin America
“There is a lot that is happening in Latin America, a lot that we must be aware of, and we must not give up on that region. That is without a doubt the purpose of this conference, which is to strengthen ties between the United States, Spain and Latin America,” he added. Oughourlian highlighted that Spain has maintained its commitment, with accumulated investments of 150,000 million dollars in the last 30 years. “I am proud to say that Spain has not left the region,” he concluded.
The day was closed by the President of the Government of Spain. In his speech, Pedro Sánchez assumed and made his own the great ideas of Mario Draghi's report to improve the competitiveness of the European economy in a world in which protectionist tendencies are becoming increasingly stronger and competition between powers seems to gain weight in the face of cooperation. “We must face the challenge of improving competitiveness in line with the main recommendations of the Draghi Report, which Spain fully shares. Europe needs reforms to avoid being left behind in the most cutting-edge technological sectors, and it must also make better use of all the instruments at its disposal to strengthen its strategic autonomy and guarantee its economic security. But it also needs more public investment: in research, in the development of new technologies and in green infrastructure,” he stated, placing special emphasis on the mutualization of debt to address strategic investments. Continue reading