Lenovo chairman Liu Chuanzhi said he has seen first-hand the negative consequences of "more-than-enough" social welfare in Europe after visiting his company's European branches. (File Photo/CFP)
Lenovo Group chairman Liu Chuanzhi said on Oct. 31 that he hoped the "more-than-enough" packages enjoyed by European workers will not become popular in China in the future.
"I think they (European workers) have more than enough, which will make them rot and lose their competitiveness," Liu said. The chairman made his remarks during a conversation with a group of college students in Shanghai. He said that his comments came from his experience at Lenovo's European branches.
Liu also said that he was against the idea that a company's shares would be distributed once the founder is dead. "When there is no major shareholder, it will be difficult for the board to come up with common goals and the company will fall apart," Liu said.
Liu criticized social security in Europe, saying it has already made the entirety of European society "lazy." He also recommended that governments fix the problem by increasing job opportunities and supporting minorities with tax income.
Ding Yuan, professor of accounting at China Europe International Business School, did not agree with Liu's remarks.
"It is not fair to compare what we have in China and what it is in the Europe today," Ding said. "We still have poor people in China, but it is difficult to find poverty in Europe."
Liu Chuanzhi 柳傳志
Ding Yuan 丁遠