The Cercle d'Economia concluded its sessions with a debate focused on leadership in uncertain times, featuring Juan Ignacio Entrecanales, vice president of Acciona, and Juvencio Maeztu, executive at Ingka Group (IKEA). Moderated by Núria Cabutí, CEO of Penguin Random House, both shared their perspectives on navigating a landscape shaped by geopolitics and technology.

Entrecanales explained that Acciona maintains its long-term investment strategy but seeks greater legal certainty, prioritizing OECD markets to minimize risk. Maeztu, on the other hand, pointed to a historic shift in the global center of gravity, noting that the Western bloc represents only 15% of the global population, while future growth lies elsewhere.

Energy transition and competitiveness were key themes. Entrecanales warned of the fragmentation of the European market and proposed that the EU should emulate China's industrial policy, prohibit unfair competition, and consider value, not just price, in international tenders. Maeztu, conversely, viewed the Asian rise as a source of inspiration for operational speed, contrasting it with Western bureaucratic slowness.

Both executives agreed in seeing Artificial Intelligence as an ally. Acciona applies it to improve efficiency in processes like digital twins and predictive maintenance, while IKEA uses it to optimize costs and lower prices, aiming to become "the most humanist company in the world" by freeing employees from automatic tasks.

Regarding the European Union, Entrecanales called for simplifying regulation, citing the seven years it can take to approve a European park compared to months in China. Maeztu emphasized that Europe possesses the right values, but the "how" laws are executed and excessive regulation hinder business viability. He also cautioned about social polarization fueled by internal inequalities.

As primary concerns, Maeztu mentioned social polarization and the reality of household economies, while Entrecanales expressed concern about the public image of entrepreneurs among young people. Nevertheless, both concluded optimistically, highlighting Acciona's ability to navigate uncertainty and the future demand for water, clean energy, and resilient infrastructure.