EU's Von der Leyen says need to work together to avoid global race to the bottom

DAVOS, Jan 21 (Reuters) - Europe has entered a new era of harsh geostrategic competition and will have to work together to avoid a global race to the bottom, European Commission President Ursula von der Leyen said on Tuesday at the World Economic Forum in Davos.

She added that the use of sanctions, export controls and tariffs was likely to increase and that for Europe to sustain its growth in the next quarter of the century, it must shift gears.

(Reporting by Bart Meijer, Charlotte Van Campenhout, Editing by Alison Williams)

((Charlotte.VanCampenhout@thomsonreuters.com;))