The leader of BlackRock, Philipp Hildebrand, warned at the World Economic Forum in Davos that a potential return of Donald Trump to the U.S. presidency in 2024 would fundamentally challenge Europe.
He echoed concerns from Europe about Trump’s America First approach in trade, diplomacy, NATO funding, and climate policy.
Hildebrand urged Europe to seize the opportunity to become a technological superpower less dependent on America and emphasized the need for Europe to strengthen its defense capabilities.
“I see it as an opportunity for the construction of Europe,” Hildebrand said.
“Clearly, if [Trump’s election] were to lead to a rupture, which I think is what President Lagarde has in mind as a risk, then that would challenge Europe fundamentally.”
The warning comes from a figure overseeing over $9 trillion in assets at BlackRock, the world’s largest money manager.
BlackRock Vice Chair Philipp Hildebrand tells Richard Quest the top global risks heading into Davos 2024. pic.twitter.com/R7DTvj9LH5
— Quest Means Business (@questCNN) January 16, 2024
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