October 20, 2011
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.
Mr Jin also said the long-term economic slide could only be solved by amending the restrictive labour laws that mean Western workers are unable to compete in global markets.
This article was posted: Thursday, October 20, 2011 at 3:18 am