The Foro La Toja-Vínculo Atlántico returns punctually for its annual meeting at a time of significant transformations in the global governance model.
Donald Trump's second term, which has not yet reached its first anniversary, has brought about a radical change in the US's approach to its partners and rivals around the world. The transatlantic relationship is experiencing great uncertainty at a time when Russia is becoming increasingly aggressive across Europe's eastern border and China seems ready to challenge the Western bloc with an alternative global order that is alien to democratic values.
European countries, which were able to create large social protection systems thanks to the so-called ‘peace dividend’, are now forced to urgently reorient their budgetary priorities, placing defence and security at the forefront. This political process also clashes with fragile economies, with governance complicated by political fragmentation and where national-populist formations are gaining increasing influence.
In this uncertain global landscape, the outcome of the wars being fought in Ukraine and Gaza will be decisive in determining how the strategic balance of power in the world is rearranged.
At the same time, the global economy is trying to adapt to a new era of deglobalisation. After the pandemic, the trend towards strategic autonomy and security grew worldwide.
The rules of the old world order no longer seem valid, and we have no idea what the new ones might be. Something similar is happening at home, with democratic institutions under pressure and disparaged by leaders with increasingly authoritarian tendencies.
Rarely has the Foro La Toja-Vínculo Atlántico had so many important issues to reflect on during its three-day meeting on Illa da Toxa. In the autumn of 2025, not only the international order, but also the economy, technology, security and political models are undergoing profound change.
The rules of the old world order no longer seem valid, and we have no idea what the new ones might be. Something similar is happening at home, with democratic institutions under pressure and disparaged by leaders with increasingly authoritarian tendencies.
Rarely has the Foro La Toja-Vínculo Atlántico had so many important issues to reflect on during its three-day meeting on Illa da Toxa. In the autumn of 2025, not only the international order, but also the economy, technology, security and political models are undergoing profound change.

Former Mexican President Ernesto Zedillo, one of the participants in this round table, recently pointed out that there can be no democracies without democratic leaders and without citizens who demand them. The Foro La Toja-Vínculo Atlántico's fundamental commitment to the values of open societies leads us in this edition to reflect on the importance of institutions as the foundation of a country's democratic quality. Independent justice, respect for press freedom, the autonomy of regulators and the neutrality of public bodies seem to be values in decline in the face of leaders who are increasingly eager to subject the institutional spaces that define the quality of any democracy to their particular interests.

If Russia's invasion of Ukraine was the wake-up call that roused Europe from its placid existence and forced it to review its priorities in all areas, Donald Trump's second term has only added urgency to this strategic reconfiguration. Caught between a hostile neighbour and an unpredictable ally, Europe is trying to find the path to autonomy without breaking its Atlantic ties with the US and without renouncing its envied model of society. In this process, all its policies – from immigration to the fight against climate change – seem to be under review, and the broad consensus that shaped European integration is also being challenged by emerging populist movements.

President Trump's economic agenda has proven to be much more disruptive than expected. His decisions are reshaping trade dynamics around the world and even affecting the balance of the global financial system. In this highly uncertain environment, Europe, Asia and other parts of the world are responding to the new situation with their own strategies and priorities, but investors and consumers will also be affected by this new era of trade policy.

The crisis facing liberal democracies around the world cannot be understood without paying attention to the breakdown of the link between economic growth and social prosperity. In Spain and other neighbouring countries, jobs are being created and macroeconomic indicators are improving, but this strength is not translating into general prosperity: real wages have lost purchasing power, work has become more precarious and the middle classes are increasingly beset by social problems such as housing shortages. Young people are the main victims of this breakdown in the social pact that defined the progress of Western societies during the latter half of the last century.

The Technology and Geopolitics panel will bring together two internationally renowned figures at the intersection of cutting-edge science and digital ethics: physicist Pablo Jarillo Herrero, a pioneer in quantum materials such as graphene and currently Cecil and Ida Green Professor of Physics at the Massachusetts Institute of Technology (MIT), and philosopher Carissa Véliz, a leader in privacy and ethics in artificial intelligence, professor at the University of Oxford and member of the Institute for Ethics in AI. Both will be moderated by Alex Romero, CEO and founder of Alto Intelligence, promoter of the non-profit initiative cyber-guardians.org dedicated to helping young people lead healthier digital lives in the age of social media and artificial intelligence, and visiting professor in the Master's in International Security at Sciences Po University (Paris). The conversation will focus on how transformative discoveries at the scientific frontier of superconductivity in two-dimensional materials, the challenges posed by data, artificial intelligence and the imminent advent of quantum computing are revolutionising our daily lives and reshaping the global landscape. The ethical, social and geopolitical dimensions of these technologies will be explored, particularly in a global ecosystem increasingly marked by competition between democratic and autocratic models. Throughout the dialogue, highly topical questions will be addressed: Can innovation advance without a robust ethical framework? How can the rapid pace of scientific discoveries be reconciled with regulatory prudence and geopolitical risks? Is it possible to articulate an inclusive model of technological governance, where scientists, policy makers and civil society have a real say? With tangible examples ranging from the revolution brought about by graphene and quantum computing to the dilemmas of privacy in the digital age, Jarillo Herrero (MIT) and Véliz (Oxford) will offer a pluralistic and committed vision of the future of technology in a global scenario fraught with rivalry and uncertainty. This panel seeks to invite reflection on how science can serve human well-being without losing sight of international competitiveness, challenging the idea that ethical and sustainable values must yield to geopolitical pressures in order to preserve technological leadership.

It has now been a year since the Draghi and Letta reports on the competitiveness of the European economy and the reforms needed to boost its growth sparked a major public debate in Europe. That accurate diagnosis of our shortcomings is still awaiting the necessary action to correct them. Barely 10% of all the measures proposed in the report have been implemented, and Draghi himself recently warned that inaction no longer threatens our competitiveness but our very sovereignty.

The issue of security has become the sudden priority for Western countries, driven by uncertainty in the face of a new world order dictated by the capacity for intimidation rather than shared rules. But the necessary increase in defence and security spending is also seen as an opportunity to undertake the long-awaited reindustrialisation of Europe and to create new stable and skilled jobs. Spending on security and doing so efficiently also requires accurately assessing the nature of the threats and the human, technical and organisational capabilities needed to deal with new forms of conflict.

The main uncertainty in defining the new model of global governance that is taking shape lies in determining what rules will define it. In contrast to the current multinational and cooperative model, another system based on areas of influence seems to be emerging, where each power can act without control; international law is giving way to the use of force as the main argument of power. Alliances and rivalries no longer define strategic relationships, nor do respect for multilateral organisations or compliance with humanitarian rules in armed conflicts. Is it possible to imagine a new order based on different rules, or are we heading straight towards a world without rules? The answer to this question will probably be found in the outcome of the wars in Ukraine and Gaza.

The Spanish economy boasts enviable macroeconomic figures thanks to unprecedented demand from tourism and a huge increase in population due to immigration. Making this growth sustainable over time invites us to reflect on the competitiveness factors of our economy.