China will help Europe only if the Old Continent is willing to review its welfare rules. “If you look at the problems of European countries – he said Jin Liqun, chairman of the fund Chairman of the Chinese Sovereign Wealth Fund (CIC), in an interview with Al Jazeera – these are due to the difficulties accumulated by a welfare system now at the end of the line I think the labor laws are old, they feed laziness, indolence, rather than hard work. The incentive system doesn't work".
“Why, for example – points out Jin Liqun again – in the countries of the Eurozone some people have to work until they are 65, if not more, while in others you can happily retire at 55 and then languish on the beach? It's not right. Welfare serves all societies to reduce the gap, to help those who have less, it should not lead people not to work".
Jin, who is also a former deputy finance minister, then explained that Beijing will consider the possibility of investing in Europe, but only in the light of the profits that can be obtained from such an operation, as requested by the Chinese people. In this perspective, Jin then launched an appeal to European countries to equip themselves with a "credible" program to attract investment and fuel confidence. A piece of news that overlaps with the release of the latest estimates on Chinese GDP.
Beijing's economy could slow to 8,5% in 2012 and inflation is expected to fall to 2,8%. This was reported by the China Securities Journal quoting a central bank adviser, Li Daokui. China – writes the newspaper – should maintain its monetary tightening policy in the next two or three years, however its choices will be made according to changes in the international economy.
