Viglobal Summit 2023 analyzes where the economy of the future is going

Two interesting days of proposals

Within the framework of the 75th anniversary of the founding of the Vigo Free Trade Zone, one of the main drivers of progress in all of Galicia.

El Viglobal Summit 2023, the initiative sponsored by the Vigo Free Trade Zone On the 75th anniversary of its foundation, it is already history. Although, if we pay attention to the words with which Abel Caballero closed the Congress dome, it may be the first edition of something much more lasting over time. “One every two years,” noted the first mayor of the city, also president of the Free Trade Zone Consortium.

After the outstanding intervention of Paul Krugman on the opening day, another Nobel Prize winner, in this case, the Indian-American economist Abhijit Banerjee, who received the award in Economics in 2019, was in charge of giving the last keynote conference of a cycle that has put Galicia and Vigo on the map of the world economy.

Banerjee, awarded for his original proposals to combat global poverty around the world, used his presentation to analyze the American health system, his adopted homeland, in contrast to that existing in his country of origin, India, and in others in his country. around.

The criticism of the model of United States It didn't take long to wait: "The United States spends 20 percent of its GDP on health management, more than double that of Spain and its surrounding European countries, and yet life expectancy there is increasing every day." lower and much smaller than that recorded in Europe. It is a very expensive and very ineffective system,” said Banerjee.

The Nobel Prize in Economics in 2019 emphasized this idea by stating that “if you are rich and want very high-level treatment, the United States is the best country to go and receive it, but that does not work for average citizens.”

The second and last day of the Viglobal Summit 2023 had begun with the intervention of Juan Carlos Escotet, president of Abanca, who was interviewed by the journalist Marti Saballs. The Spanish-Venezuelan banker advocated controlling the deficit so that interest rates can be lowered, he did not rule out the entity's listing on the stock market and was inclined to take advantage of the Next Generation funds as a “historic opportunity so that we can face the challenges.” challenges of decarbonization and to support digitalization as the definitive engine of progress.”

Saballs himself was in charge of moderating the first round table, which was about the future of banking and in which Mariona Vicens, Director of Innovation and Digital Transformation at Caixabank; Antonio Ramalho, former CEO of Novo Banco; and Rita Estevez, independent director of MoraBanc and Línea Directa.

The recently overcome pandemic and the consequent massive use of teleworking in various professional sectors were considered key elements to analyze how cities are developing as an engine of the economy.

Personalities of the caliber of Andrés Rodríguez-Pose, professor at the London Business School; Cristina García-Peri, Director of Corporate Development and Strategy of the Azora Group; Pedro Siza Vieira, former Minister of Economy of Portugal; and the professor of Economics at the University of Barcelona, Elisabet Viladecans They participated in this last round table of the meeting.

The Portuguese economist and politician advocated “preparing our cities to face all the conditions, but knowing that we will always want to be with others and that is done mainly in the cities”, while García-Peri highlighted that “teleworking "It is taking a lot of involvement in the real estate market."

In summary, Viglobal Summit 2023 has served, over two interesting days of proposals, to rethink where the economy of the future is going from very different points of view. And all, within the framework of the 75th anniversary of the founding of the Vigo Free Trade Zone, one of the main drivers of progress in all of Galicia.

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