00:00Well Vince Cable is the former leader of the Liberal Democrat Party and was Britain's big
00:05business secretary between 2010 and 2015.
00:10It's significant for the UK that we have good business like
00:15relationships with all the major economic powers in the world and we are a trade
00:20in country in an open country and China is massively important.
00:25Probably number one or certainly number two in the world economy so as a matter of
00:30Britain's economic interest it's important that we engage but there is
00:35another more topical reason which is the erratic
00:40behaviour of the Trump administration which is causing a lot of western countries not
00:45just the UK to hedge to sort of balance our relations
00:50relationships in a different way and I suppose you could say that the British are
00:55to some extent following the lead of Premier Carney from
01:00Canada last week in balancing our relationship with
01:05the United States in a more perhaps more sensible and appropriate way.
01:10given the way President Trump's behaving.
01:13From your experience,
01:15from your time as the UK's business secretary, I wonder where you see the
01:20strongest opportunities for Renew China UK
01:25economic and trade cooperation.
01:28Well I see that
01:30the Prime Minister is taking with them I think a deputation of about 50 business people.
01:35and they represent the same sectors that were interested in
01:40when I went with the Prime Minister 15 years ago.
01:45and there are areas where Britain, you could say, has a comparative advantage where
01:50...
01:50we have something useful that the Chinese may wish to engage with
01:55we are talking about service sectors, creative industries, financial and professional
02:00services, international services, education, where Britain is a major international
02:05provider through its universities as well as specialised areas of manufacturing.
02:10although Britain has heavily de-industrialised, we have some very successful
02:15sectors.
02:16So it's a mixture but it's the same mixture.
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