What is your outlook?
Philippe Cayla has been Chairman and CEO of EuroNews since 2003. A graduate of the Ecole des Mines de Paris, the Institut d'Etudes Politiques de Paris and the Ecole Nationale d'Administration, Cayla began his career as a civil servant in the Equipment, Industry and Foreign Trade Ministries and as a technical advisor to the French Minister of Foreign Trade, Michel Jobert. From 1985 to 1992, Cayla was the Sales and Finance Director, the Strategy Director and finally the Deputy Managing Director and Strategy Director for Matra-Marconi Space, Europe's largest spacecraft manufacturer and a provider of communications ground terminals, sub-systems for rocket launchers and supplies for the International Space Station. In 1993, Cayla joined Eutelsat, one of the world's leading providers of satellite infrastructure and telecommunications. Cayla began working in television directly in 2000, when he became Director of International Development at France Televisions. At EuroNews he succeeded Stewart Purvis. Ideas recorded at the 2007 Aspen Ideas Festival on: 7/2/07
Question: What is your outlook?
Philippe Cayla: I think the main problem is in the unbalance of trade … of foreign trade between developed countries and the European countries … developing countries to get a larger share of the cake, of course. Which is a … in some sense, as long as they abide by democratic rules. But the problem is when non-democratic countries like China or others develop themselves at the expense of democratic countries. Which means that these are countries … I mean non-democratic countries where you have no trade unions. So … and we even discover in China that there is some slavery. So we can't compete with such countries. And so either these countries become democratic, and so the trade unions are able to demonstrate to gain a wage increase, and to rebalance the foreign trade in more … in a safer way. Or it creates a crisis, because I don't see the imbalance of foreign trade it's valuable for the U.S, it's valuable for Europe continuing at that pace, very rapidly. If it's a game where the rules are not the same in other countries, I think it's a major problem. It's an imbalance of foreign trade.
Recorded on: 7/2/07
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