From the Telegraph:
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.
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 labour 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.
"European countries have a lot of advantages. They just need to tap these advantages and they will be back on their feet."
He told guests he was "sorry if I have ruffled feathers", adding: "China cannot be expected to buy into high risk in the eurozone without a clear picture of debt work-out programmes."
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.
http://www.telegraph.co.uk/news/uknews/8837768/Britons-are-lazy-and-addicted-to-benefits-China-claims.html
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