Posted on 11/07/2011 10:41:06 AM PST by quesney
The chairman of China's sovereign wealth fund remains sceptical about supporting a European bailout.
"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 I think the labour laws are outdated.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 a good life, but a welfare society should not induce people not to work hard."
(Excerpt) Read more at aljazeera.com ...
Never dreamed I would ever say this but the commie does have a point.
FMCDH(BITS)
For Europe and for us.
So, where did the whole concept of lying on the couch feeding each other grapes come from?
Check out the comments below the article. That’s what is sick.
[facepalm] Pretty embarrassing when your government (the US) has a poorer understanding of conservative principles than Red China!
Was sitting here thinking about Free Republic and how it has contributed to sanity in this nation. consider the TVs that are still functional not having been shot, the walls without holes punched in them, the many small children who have not yet learned profanities. This is all due to Jim and Free Republic lending us a megaphone to shout our frustrations at the world. So get off your wallets people, put your money where your mouth is and help us pay for that megaphone. our sanity depends on this.
Respectfully
W.W.SMITH
I am referring specifically to this quote:
“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,”
Quite honestly, the EU, with the exception of German engineering and innovation, is not globally competitive because of its overregulated, overtaxed and overunionized regimen. We are not far behind with Obama steering us in that direction.
I read today that France,(the land of govt-mandated 8 weeks annual vacation, and the mandated 35 hour work week) has come up with a new “austerity” plan requiring people to work until age 62 before retiring on pension
Oh, the humanity
Can’t disagree with a single thing he said.
“I read today that France,(the land of govt-mandated 8 weeks annual vacation, and the mandated 35 hour work week) has come up with a new “austerity” plan requiring people to work until age 62 before retiring on pension.”
France among all nations on the planet has more exposure to Italian sovereign debt than anyone,at 480 billion. Italy goes and France will have to readjust the retirement age to 93.Also have no money left to buy surrender flags.
Meanwhile, in Obamaland
Sloth nation:
America has taken laziness to new lows www.nypost.com/p/news/opinion/opedcolumnists/sloth_nation_8D9TAUePXNNLgnI2gXC4UP
I’ve visited Europe numerous times for business, I’ve been saying the same thing for years.
Much to the the chagrin of my “Continental” loving acquaintances.
What’s the world coming to, I agree with the ChiComs.
Europe is soooooo screwed.
I don't know what the world's coming to - but I agree with them too...
LOL! When French surrender flags are made in China it will complete the perfect circle
No one knows how lack of incentive leads to lack of productivity better than those who have lived under communism/socialism do. They essentially know that socialism doesn’t work, but the Chinese government likes having totalitarian control, so they’re not in any hurry to have open democratic elections either. That’s the primary reason they remain ‘communist’. Economically, they’ve realized it doesn’t work.
If that's the case, then I'd like to know why Germany is trying to push Ireland to raise its corporate tax rate.
Quite honestly, the EU, with the exception of German engineering and innovation, is not globally competitive because of its overregulated, overtaxed and overunionized regimen
So if they are happily retired, why are they languishing on the beach? Are they all marooned? Heck, I generally enjoy myself at the beach.
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