Publications

This year, the trade agreement between Mexico, the United States, and Canada (USMCA) enters its review process. It is worth recalling that the agreement is in force until 2036, but it includes a review mechanism beginning July 1 that could lead to different scenarios.

If someone had said just a few years ago that “private tokens” could influence debates on global payments, financial regulation, or monetary sovereignty, it would have sounded like science fiction. In recent months, that conversation has become routine.

While global investment in renewables has doubled over the past decade, investment in power grids has increased by only 20%. In Spain, distribution grid congestion and renewable energy curtailment are consistent with a pattern of underinvestment.

2025 was marked by a downward trend in oil prices, starting the year at around $75 dollars per barrel of Brent crude and closing at $61, with a full-year average of $68.

Electricity grids are becoming a global bottleneck to the energy transition. Without faster, anticipatory investment, renewables and electrification will not reach their full potential. Digitalisation and storage help, but cannot substitute for grid expansion.

The AI race is rapidly accelerating across all its dimensions. It is no longer just about software and models, but also about the infrastructure that makes them possible.

In 2026, the World Cup, the USMCA review, and ties with the U.S. will place Mexico under global scrutiny. Tourism will be the first test: the visitor experience will determine whether the impact is fleeting or structurally transformative.