Fibrenamics held another edition of its Business Talks, this time featuring Pedro Siza Vieira, who offered a structured reflection on the current international geopolitical and economic context, stressing that the challenges facing Europe are not unexpected, but rather the result of trends that have been identified for several years.

Europe facing structural vulnerabilities

At the core of his intervention was the observation that Europe remains the world’s largest exporting power, but faces a structural imbalance: it produces beyond the level of its domestic demand. This surplus results from a combination of factors, most notably insufficient investment and consumption within Europe itself, which has led to a strong dependence on external markets to absorb production.

At the same time, Europe’s high dependence on third countries for access to raw materials, critical resources and energy was also highlighted. This dependence extends to manufacturing capacity, as a significant share of industrial production has been relocated over recent decades. This model, based on productive outsourcing, cost efficiency and scale, is now under significant pressure, contributing to increased strategic exposure for Europe and limiting its capacity for protection and autonomy — particularly given its dependence on the United States in matters of security.

From Pedro Siza Vieira’s perspective, this process has also contributed to strengthening other powers, such as China, which not only absorbed productive capacity but also internalised the economic and industrial tools initially used by the West. In a context where free access to markets can no longer be taken for granted, Europe is now confronted with the need to rethink its positioning, recognising structural weaknesses such as external dependence and weak domestic demand.

Against this backdrop, the urgency of reinforcing European integration, removing internal barriers and stimulating production within the European space was emphasised. He also underlined the importance of ensuring fair competitive conditions, making sure that all players operating in the European market comply with the same rules. The ability to master critical technologies was identified as a decisive factor in price-setting and in securing a competitive position on the global stage.

Portugal between adaptation, opportunity and specialisation

With regard to Portugal, the speaker noted that the country is at a critical moment, yet one that is also rich in opportunities. After a historical trajectory marked by specialisation in low value-added sectors, Portugal began, in the years preceding the pandemic, a process of diversification and deeper integration into the global economy, largely driven by the upskilling of its population.

However, the pandemic and the subsequent changes in international markets — including rising trade barriers and the growing competitive aggressiveness of countries such as China — have introduced new challenges. Even so, Portugal’s ability to adapt over recent years was identified as a relevant strategic advantage.

Looking ahead, he expressed the conviction that Europe will necessarily be different within a decade, driven by the need to strengthen its autonomy, particularly in the fields of energy and defence. In this context, Portugal may benefit from its geographical position, relatively distant from conflict zones, making it more attractive for productive investment.

Economic specialisation was identified as one of the key pillars for increasing competitiveness, with reference to countries such as Denmark and the Netherlands, where concentration in strategic areas has enabled high levels of productivity and income. For Portugal, this path implies the need to make clear choices, avoid dispersion — including in terms of research and development infrastructures — and promote a more strategic organisation of resources.

Finally, the importance of strengthening organisational agility, decision-making capacity and assertiveness was underlined, both at institutional and business level. In this context, trust and collaboration between economic and institutional players emerge as critical elements for addressing current challenges and building a sustainable competitive position.

This Business Talk reinforced the importance of a strategic reading of the international context and of the role that entities such as Fibrenamics can play in connecting knowledge, technology and industry, contributing to the development of a more resilient, differentiated and future-oriented economy.