Tuesday, November 8, 2011

Head of China's Sovereign Weallth Fund Lambasts EU 'sloth, indolence'

From EU Observer:
  • Chinese coal mine. Jin's picture of 'hard working' Chinese and lazy Europeans 
    stands next to NGO reports of 'sweatshop' conditions in major Chinese factories 
    (Photo: AdamCohn)
Using language recalling German tabloid depictions of "lazy Greeks", the chairman of China's sovereign wealth fund has said the EU as a whole suffers from "sloth" and "indolence."

Jin Liquin made the comments during a TV interview with Al Jazeera on Sunday (6 November).
"If you look at the troubles which have happened in European countries, this is purely because of the troubles of a worn-out welfare society. I think [the EU's] welfare laws are outdated. The labour laws induce sloth, indolence. The incentive system is totally out of sink," he said.

He referred to "some countries [which] happily retire at 55 to languish on the beach."

Jin contrasted the EU work ethic to the situation in China: "We in China are working very hard. The Chinese people are working very hard to build up our nation, to move forward. So if you say: 'European countries are in trouble why don't you pour you resources into these countries in trouble.' Our people would ask: 'Hey. Are you sure we can get a fair return on our investment?'"...MORE
It's not just the Eurozone. Back in October Jin said the same thing about Britain. I think he may have a sloth fetish.
From the Daily Mail:
How China sees Britain: 'Sloth-inducing' labour laws and lavish welfare system fuels economic problems