Von der Leyen in Davos: ‘Breaking global economic ties is in nobody’s interest’

The President of the European Commission replies to Trump on the war in Ukraine, climate, and energy, talking about global economic challenges

European Commission President Ursula von der Leyen told the World Economic Forum in Davos that ‘breaking the ties’ that hold the global economy together ‘is not in anyone’s interest’, also responding to US President Donald Trump’s statements on crucial issues such as the war in Ukraine, climate and energy.

In a speech in Davos, von der Leyen pointed out that the world’s major economies are competing for access to raw materials, new technologies and global trade routes. Areas where this race is particularly visible include artificial intelligence, clean technology, quantum, space, the Arctic and the South China Sea. ‘The competition has begun and we will continue to see the use of economic instruments such as sanctions, export controls and tariffs to protect economic and national security,’ von der Leyen said.

However, she insisted on the need to balance security with the opportunity to innovate and improve prosperity. ‘We cannot afford a race to the bottom. Rather, we must modernise the rules to sustain our ability to deliver benefits to citizens,’ she added.

Von der Leyen went on to reiterate the need for Europe to ‘shift gears’ to sustain growth over the next 25 years. To this end, he asked Mario Draghi to draw up a report on European competitiveness, which will be presented next week with a roadmap for the next five years. The goal is to increase productivity and close the innovation gap, along with a plan for decarbonisation and competitiveness.

On the war in Ukraine, von der Leyen reiterated European support for Ukraine’s independence, stressing that the country has the right to make its own decisions on its own territory. ‘We stand with Ukraine for as long as it takes,’ she concluded.

She also returned to the topic of climate change, stating that the Paris Agreement remains the ‘best hope’ for humanity and that Europe will continue to work with all nations that want to protect the environment. Finally, von der Leyen highlighted the importance of clean energy, arguing that it will be the medium-term answer for Europe, as it is cheap, creates jobs and strengthens energy independence.

THE LATEST NEWS

[recent_post_slider design=”design-07″ show_author=”false” slider_height=”390″ lazyload=”progressive” limit=”6″ category=”11728″]