The CIDOB (Barcelona Center for International Affairs) has published its annual report, which analyzes the main global trends for 2021. Among the report’s conclusions are the following: the pandemic has accelerated existing global trends, such as the shift towards digitalization and the search for alternative supply chains; the impact of climate change will become increasingly apparent, leading to greater migration and significant economic, political, and social consequences; the rivalry between China and the United States will continue to shape the international agenda, and it will affect areas such as technology, trade, and security; regional conflicts will continue to be a source of instability, especially in the Middle East, where several crises, such as the conflict in Syria, persist; the European Union faces internal challenges, such as the rise of nationalism and populism, as well as external challenges, such as Brexit, the migration crisis, and the relationship with other major powers such as Russia and China; finally, the report highlights the need for global cooperation and multilateralism to face these challenges, especially in areas such as health, climate change, and economic recovery. The report also includes a section on Spain’s foreign policy, highlighting its engagement in the European Union and its proactive approach to Latin America, Africa, and the Mediterranean. The report concludes that Spain can play an important role in promoting multilateralism and democratic values in a complex international context.