Philip Hammond Visits Airbus Factory In Tianjin

The transcript discusses the importance of maintaining a leading edge in design and technology to ensure continued success and collaboration with international markets. It highlights the significant role of innovation in securing a standard of living and the positive impact on jobs, particularly in the context of Airbus and its operations in Asia.

Why is it important to constantly innovate according to the video?

• To reduce production costs

• To eliminate competition

• To increase product prices

• To maintain a standard of living

What is the benefit of maintaining a leading edge in design and technology?

• It reduces the need for marketing

• It increases the number of competitors

• It enables collaboration with consuming countries

• It allows for higher product prices

Which region is a significant market for Airbus's output?

• North America

• Asia

• Africa

• Europe

How does Airbus's success benefit British jobs?

• By reducing taxes

• By increasing exports

• By creating job opportunities

• By lowering production costs

What is the overall message regarding Airbus's strategy?

• To innovate and collaborate globally

• To focus solely on local markets

• To reduce workforce for efficiency

• To increase product prices