For Ureta, the Great novelty of 2025 is the return of Donald Trump, which means a huge challenge for Europe. The European Union should face what it calls «A new model«, And that goes through the Structural changes cited in the holder, In fiscal, regulatory and liberalizing matters. But he doubts not only political courage, but «he political knowledge«Of the rulers to face the global fragmentation which reflects that large commercial areas are willing to enhance your domestic markets.
The historical moment, however, is favorable to deal with the necessary changes, which happen, even «For some United States«, something that should have been addressed at Deaville’s meetings in 2014 between Angela Merkel, Nicolas Sarkozy y Dimitry Medvedevbut Germany swept home and European Central Bank (ECB) He simply approved liquidity measures for banks to buy debt and solve, momentarily, the problems.
Although the phenomenon of Javier Milei in Argentina and the turn of countries such as Italia They had already shown liberal trends, is the return of Trump The one that generates a structural change. “He Trumpism will survive Trump”.
Your policy represents a rejection of state intervention and al Traditional globalization model (wokismo)replacing it with a vision pro-company although, at the same time, protectionist. The deregulation and the tax cuts They are central pieces of their strategy, although doubts arise about their viabilitygiven the High US fiscal deficitthat exceeds 7% of GDP.
More than dividing the world into blocks, Trump accelerates a disruption of globalist consensus represented by institutions such as Davic forum. Instead, A regionalization model emergesin which the United States prioritizes the “America First”, promoting the internal production and consumption, It stands out in the interview. For Europathis change represents A challenge and an opportunitybecause you can motivate a Reduction in regulatory and fiscal burden To be more competitive.
He protectionism It is not new. Biden has maintained tariffs imposed by Trump In his first mandate, and the Inflation reduction law has also favored American industry. However, Ureta points out that there is a structural problem: China enjoys disproportionate commercial advantages that have harmed other economies. As an example, he mentions the European automotive industryaffected by the Chinese electric car penetrationhighly subsidized. Europe must react to guarantee fairer conditions in international trade.
The markets, very important
Another key challenge is the Weakness of European capital marketsin contrast to the US market dynamism. Ureta It emphasizes that Europe still does not achieve a union of capital marketswhich It limits the financing of its companies and innovative projects. He Nasdaq has been key to technological success in Of.u.but in Europa There is no one similar ecosystem to finance startups and emerging companies.
The Excessive regulation and normative fragmentation prevents the development of a European Integrated Capital Market. This has generated a worrying phenomenon:Investors prefer to bring their money to the US instead of Europewhere the opportunities are minor and the heaviest bureaucracy.
In this context, Ureta He also highlighted the recent impact of the Chinese artificial intelligence In financial markets. The announcement of DeepSeeka new AI developed in China, caused a strong fall in the actions of NVIDIA (-17%), Broadcom (-19%) y Marvell (-17%)hitting the entire sector of semiconductors. Although the market reacted nervously, Ureta Consider that these companies They continue to quote very high multiplesreflecting a possible overvaluation.
«The irruption of a Chinese competitor generates uncertainty, but does not necessarily mean a Rupture of the upward trend In the technological sector«.
Finally, Ureta highlighted the evolution of Rent 4 bankentity near compliance 40 years from your registration as a value company. In 2024the entity reached 36,000 million euros in customer assets, overcoming your expectations. Its growth strategy is based on five pillars: he Traditional businessthe expansion in companiesthe Investment in alternative assetshe Growth in Latin America and the Diversification in complementary businesses as Blockchain and asset token.
In the video there is more detailed information, both of its vision of markets and of the next operations that it contemplates in Latam.