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Austria-Trade Friction/World Economy
Vienna, Austria - Recent (CCTV - No access Chinese mainland)
1. Building in Vienna University of Economics and Business
2. Various of people walking into building
3. SOUNDBITE (English) Harald Oberhofer, professor of economics, Vienna University of Economics and Business:
"It's about multilateralism and about how we do trade and international economics with each other. And if we have a severe trade war on this, then this might lead to the weakening of these institutions and our rules that we agreed on in terms of international trade and that would have long-lasting negative consequences for the whole economy."
4. Various of Oberhofer at work
5. SOUNDBITE (English) Harald Oberhofer, professor of economics, Vienna University of Economics and Business (partially overlaid with shot 6):
"One of the stories surely is about the president of the United States. He has this America First strategy. And for this strategy it fits well to use protectionist measures. So that's something of a consequences of what the president thinks about the global economy, I would say. But I would argue that this is not the right way to do it. It would be much more helpful and less costly if we could negotiate these issues in a serious manner by bilateral or multilateral trade talks, let's say, between the U.S., the EU and China."
++SHOT OVERLAYING SOUNDBITE++
FILE: Washington D.C., USA - June 28, 2016 (CGTN - No access Chinese mainland)
6. Various of auto workers assembling cars at Volkswagen factory
++SHOT OVERLAYING SOUNDBITE++
FILE: Chicago, USA - Exact Date Unknown (CCTV - No access Chinese mainland)
7. Various of sea, port
Trade friction will weaken the international trade rules and threaten world economy, an Austrian economist has said, commenting on U.S. President Donald Trump's recent adoption of trade protectionism.
Harald Oberhofer, professor of Economics at the Vienna University of Economics and Business, made the statement against the background of escalating trade disputes between the United States and the European Union, and with China, as well as other countries.
Oberhofer said the trade friction would threaten the whole world economy and the multilateral trade system in the long run.
"It's about multilateralism and about how we do trade and international economics with each other. And if we have a severe trade war on this, then this might lead to the weakening of these institutions and our rules that we agreed on in terms of international trade and that would have long-lasting negative consequences for the whole economy," said Oberhofer.
Oberhofer expressed the belief that negotiations and trade talks are the basic way for solving the problems.
"One of the stories surely is about the President of the United States. He has this America first strategy. And for this strategy it fits well to use protectionist measures. So that's something of a consequences of what the president thinks about the global economy, I would say. But I would argue that this is not the right way to do it. It would be much more helpful and less costly if we could negotiate these issues in a serious manner by bilateral or multilateral trade talks, let's say, between the U.S., the EU and China," he said.
Austria-Trade Friction/World Economy
Dateline : Recent/File
Location : Austria
Duration : 1'44
Vienna, Austria - Recent (CCTV - No access Chinese mainland)
1. Building in Vienna University of Economics and Business
2. Various of people walking into building
3. SOUNDBITE (English) Harald Oberhofer, professor of economics, Vienna University of Economics and Business:
"It's about multilateralism and about how we do trade and international economics with each other. And if we have a severe trade war on this, then this might lead to the weakening of these institutions and our rules that we agreed on in terms of international trade and that would have long-lasting negative consequences for the whole economy."
4. Various of Oberhofer at work
5. SOUNDBITE (English) Harald Oberhofer, professor of economics, Vienna University of Economics and Business (partially overlaid with shot 6):
"One of the stories surely is about the president of the United States. He has this America First strategy. And for this strategy it fits well to use protectionist measures. So that's something of a consequences of what the president thinks about the global economy, I would say. But I would argue that this is not the right way to do it. It would be much more helpful and less costly if we could negotiate these issues in a serious manner by bilateral or multilateral trade talks, let's say, between the U.S., the EU and China."
++SHOT OVERLAYING SOUNDBITE++
FILE: Washington D.C., USA - June 28, 2016 (CGTN - No access Chinese mainland)
6. Various of auto workers assembling cars at Volkswagen factory
++SHOT OVERLAYING SOUNDBITE++
FILE: Chicago, USA - Exact Date Unknown (CCTV - No access Chinese mainland)
7. Various of sea, port
Trade friction will weaken the international trade rules and threaten world economy, an Austrian economist has said, commenting on U.S. President Donald Trump's recent adoption of trade protectionism.
Harald Oberhofer, professor of Economics at the Vienna University of Economics and Business, made the statement against the background of escalating trade disputes between the United States and the European Union, and with China, as well as other countries.
Oberhofer said the trade friction would threaten the whole world economy and the multilateral trade system in the long run.
"It's about multilateralism and about how we do trade and international economics with each other. And if we have a severe trade war on this, then this might lead to the weakening of these institutions and our rules that we agreed on in terms of international trade and that would have long-lasting negative consequences for the whole economy," said Oberhofer.
Oberhofer expressed the belief that negotiations and trade talks are the basic way for solving the problems.
"One of the stories surely is about the President of the United States. He has this America first strategy. And for this strategy it fits well to use protectionist measures. So that's something of a consequences of what the president thinks about the global economy, I would say. But I would argue that this is not the right way to do it. It would be much more helpful and less costly if we could negotiate these issues in a serious manner by bilateral or multilateral trade talks, let's say, between the U.S., the EU and China," he said.
ID : 8085771
Published : 2018-07-19 09:57
Last Modified : 2018-07-20 16:42:00
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
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