European Commission President Ursula von der Leyen said on Tuesday that “it is in no one’s interest to break the bonds of the global economy in a new era of fierce geostrategic competition’’.
“We will need to work together to avoid a global race to the bottom because it is in no one’s interest to break the bonds of the global economy,’’ von der Leyen said.
Leyen said this in an opening speech at the World Economic Forum in Davos.
The world has entered a new era of harsh geostrategic competition in which the major economies compete for access to raw materials, new technologies and global trade routes, he added.
The World Economic Forum in Davos is an international organization that fosters public-private cooperation.
This year’s forum is held in Davos from Jan. 20 to 24.
Its theme is “Collaboration for the Intelligent Age.’’ (RIA/NAN)
