“Communist” China warns: Europe ruined by the welfare state

From Andrew Bolt

Jin Liqun, the supervising chairman of China’s $400 billion sovereign wealth fund, thinks the problem with Europe is that it’s ruined by socialism:

If you look at the troubles which happened in European countries, this is purely because of the accumulated troubles of the worn out welfare society. I think the labour laws are outdated. The labour laws induce sloth, indolence, rather than hardworking. The incentive system, is totally out of whack…

Why should, for instance, within [the] eurozone some member’s people have to work to 65, even longer, whereas in some other countries they are happily retiring at 55, languishing on the beach? This is unfair…

The welfare system is good for any society to reduce the gap, to help those who happen to have disadvantages, to enjoy the life, but a welfare society should not induce people not to work hard.

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2 responses to ““Communist” China warns: Europe ruined by the welfare state

  1. Wonder how long before Australians realize the Euro-Peons in the mirror are the JuLiar Gang’s Australians?

    Great Big New Tax on CO2? Great Big New Tax on Mineral Exports? Great Big New Tax on Manufacturing? Great Big New Tax on Just About Everything Else?

    Except there’s nothing — and nobody — left!

    We’re all off mining Ecuador and Guinea.

    And drilling Angola, Indonesia and Outer Mongolia.

    And fracking Alberta, North Dakota and Colorado!

  2. China’s dominant philosophy of honor makes it completely different than the “gimmee” philosophy that has developed in America and Europe. This is why Social and Economic systems that work for one country don’t work for others.

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