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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Saturday, October 22, 2011

CHINA: 'British are lazy and addicted to welfare'


For some strange reason the Chinese think the British are lazy and
addicted to government welfare programs.


The root cause of Western troubles is the welfare system says Chinese Investment Corp. director


Britain's "sloth-inducing" work ethic and dependence on benefits are to blame for the current economic downturn, a senior Chinese official has claimed.

Jin Liqun, chairman of China Investment Corporation (CIC), the nation's sovereign wealth fund, warned that Europeans should "work a bit harder" if they want to pull the eurozone out of recession.

He said people in the West are too reliant on welfare payments and the benefits system, looking for external solutions to the debt crisis rather than tackling the problem from within, reports the UK Telegraph.

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Mr Jin also said the long-term economic slide could only be solved by amending the restrictive labor laws that mean Western workers are unable to compete in global markets.

He told Channel Four News: "Europe is not really short of money. Europe needs to give a clear picture to the Europeans themselves and to the rest of the world that their problems could be worked out.

"The root cause of the trouble is the over-burdened welfare system, built up since the Second World War in Europe - the sloth-inducing, indolence-inducing labor laws."

"People need to work a bit harder, they need to work a bit longer, and they should be more innovative. We (the Chinese) work like crazy."

Mr Jin, a graduate of Boston University, was formerly China's deputy finance minister and vice-president of the Asian Development Bank.

He is now chairman of CIC, China's sovereign wealth fund, which has a budget of around $300 billion.



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