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CIC: problem is Europe’s sloth
EUROPE’s problems are down to its work-shy population, according to the head of China’s sovereign wealth fund.
Jin Liqun, chairman of the China Investment Corporation, which manages about $300bn in assets, said: “The root cause of trouble is the overburdened welfare system, built up since the second World War in Europe — the sloth inducing, indolence inducing labour laws.”
“People need to work a bit harder, they need to work a bit longer, and they should be more innovative,” he told Channel 4 News.