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The possibility of Donald Trump making a comeback to the White House in 2024 presents a "fundamental" challenge to Europe, cautioned Philipp Hildebrand, the vice chairman of the world's largest investment company, BlackRock, on Tuesday.
The Daily Telegraph reports that Hildebrand issued this warning from the sidelines of the World Economic Forum (WEF) in Davos, Switzerland.
In echoing the concerns voiced across Europe, he joined the growing chorus apprehensive about a potential return of Trump to the global arena.
The seasoned Swiss banker asserted that the re-election of the former U.S. president "would challenge Europe fundamentally" due to Trump's commitment to prioritizing "America First" across various realms, including trade, diplomacy, NATO funding, and climate policy.
Hildebrand, a member of the firm’s Global Executive Committee, responded to recent remarks by Christine Lagarde, the head of the European Central Bank (ECB), who expressed concerns about Trump being a "clear threat" to Europe. Lagarde highlighted that Trump's differing views set him apart from the European mainstream, as outlined in the report.
Last week, Lagarde cautioned that history showed Trump’s "manner in which he carried out the first four years of his mandate… is clearly a threat."
In his perspective, Hildebrand encouraged Europe to seize the chance to evolve into a technological powerhouse that is less reliant on America. He emphasized that Europe's defense capabilities were "just not there" and needed a reconsideration. Hildebrand stated:
"I see it as an opportunity for the construction of Europe.
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."Hildebrand, overseeing more than $9 trillion of assets at investment giant BlackRock, the world's largest money manager, shared his views shortly after Trump's remarkable victory in the Iowa Republican presidential caucuses, as reported by Breitbart News.
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