{"id":4481,"date":"2012-05-30T23:00:14","date_gmt":"2012-05-31T03:00:14","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4481"},"modified":"2012-05-30T23:00:14","modified_gmt":"2012-05-31T03:00:14","slug":"how-europe-can-save-the-eu-work-harder-spend-less","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/30\/how-europe-can-save-the-eu-work-harder-spend-less\/","title":{"rendered":"How Europe Can Save the EU: Work Harder, Spend Less"},"content":{"rendered":"<p>Andy Xie, an independent economist in China, said European countries without a competitive advantage must simply work harder or spend less. Alternatively, if they want to keep living it up, they will have to accept wrenching labor reforms and deregulation.<\/p>\n<p>Xie saw no popular consent for either course of action. Nor did he detect that Europe was tightening its belt as urgently as Asia did after its 1997\/98 financial crisis. &#8220;While eurozone economies have contracted a bit, people seem to be bent on enjoying life as usual,&#8221; Xie wrote in New Century weekly, a Chinese publication. &#8220;China cannot save Europe. No one can. Only Europeans can, through increasing work relative to leisure.&#8221;<\/p>\n<p>via <a href='http:\/\/www.thefiscaltimes.com\/Articles\/2012\/05\/29\/How-Europe-Can-Save-the-EU-Work-Harder-Spend-Less.aspx#page1'>How Europe Can Save the EU: Work Harder, Spend Less<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Andy Xie, an independent economist in China, said European countries without a competitive advantage must simply work harder or spend less. Alternatively, if they want to keep living it up, they will have to accept wrenching labor reforms and deregulation. Xie saw no popular consent for either course of action. Nor did he detect that &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/30\/how-europe-can-save-the-eu-work-harder-spend-less\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;How Europe Can Save the EU: Work Harder, Spend Less&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,33],"tags":[199,962,1295],"class_list":["post-4481","post","type-post","status-publish","format-standard","hentry","category-economy","category-uk-europe-countries-regions","tag-andy-xie","tag-debt-crisis","tag-euro-zone"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Europe Can Save the EU: Work Harder, Spend Less - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Europe Can Save the EU: Work Harder, Spend Less - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Andy Xie, an independent economist in China, said European countries without a competitive advantage must simply work harder or spend less. Alternatively, if they want to keep living it up, they will have to accept wrenching labor reforms and deregulation. Xie saw no popular consent for either course of action. Nor did he detect that &hellip; Continue reading &quot;How Europe Can Save the EU: Work Harder, Spend Less&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/30\/how-europe-can-save-the-eu-work-harder-spend-less\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-05-31T03:00:14+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"How Europe Can Save the EU: Work Harder, Spend Less\",\"datePublished\":\"2012-05-31T03:00:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/\"},\"wordCount\":132,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"keywords\":[\"Andy Xie\",\"debt crisis\",\"euro-zone\"],\"articleSection\":[\"Economy\",\"UK &amp; Europe\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/\",\"name\":\"How Europe Can Save the EU: Work Harder, Spend Less - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"datePublished\":\"2012-05-31T03:00:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/05\\\/30\\\/how-europe-can-save-the-eu-work-harder-spend-less\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How Europe Can Save the EU: Work Harder, Spend Less\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/people\\\/The-Patient-Investor\\\/61572934660810\\\/\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\",\"https:\\\/\\\/au.linkedin.com\\\/in\\\/colintwiggs\"],\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/investor\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How Europe Can Save the EU: Work Harder, Spend Less - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"How Europe Can Save the EU: Work Harder, Spend Less - the patient investor","og_description":"Andy Xie, an independent economist in China, said European countries without a competitive advantage must simply work harder or spend less. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1ah","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":5902,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/29\/a-hard-landing-down-under-the-big-picture\/","url_meta":{"origin":4481,"position":0},"title":"A Hard Landing Down Under &#124; The Big Picture","author":"Colin Twiggs","date":"October 29, 2012","format":false,"excerpt":"Andy Xie has a bearish outlook on China and believes 2013 could be a tough year for Australia: The market went from not believing in China\u2019s growth story a decade ago to extrapolating past performance into the infinite future......The year 2008 should have been the end of this boom cycle.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1823,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/07\/germany-must-do-it-not-china-credit-writedowns\/","url_meta":{"origin":4481,"position":1},"title":"Germany must do it, not China | Credit Writedowns","author":"ColinTwiggs","date":"November 7, 2011","format":false,"excerpt":"In the end this is Germany\u2019s crisis to resolve, not China\u2019s. Germany has benefited tremendously from the euro. Nearly all of its growth in the past decade can be explained by its rising trade surplus which, given monetary policy driven almost exclusively by the needs of slow-growing and consumption-repressed Germany,\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12074,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/07\/16\/chinas-debt-to-gdp-ratio-just-climbed-to-a-record-high-bloomberg-business\/","url_meta":{"origin":4481,"position":2},"title":"China&#8217;s\u00a0Debt-to-GDP Ratio Just Climbed to a Record High &#8211; Bloomberg Business","author":"ColinTwiggs","date":"July 16, 2015","format":false,"excerpt":"From Ye Xie and Belinda Cao at Bloomberg: While China's economic expansion beat analysts' forecasts in the second quarter, the country's debt levels increased at an even faster pace. Outstanding loans for companies and households stood at a record 207 percent of gross domestic product at the end of June,\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9865,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/23\/what-ukraine-crisis-means-for-future-of-europe-spiegel-online\/","url_meta":{"origin":4481,"position":3},"title":"What Ukraine Crisis Means for Future of Europe | SPIEGEL ONLINE","author":"ColinTwiggs","date":"May 23, 2014","format":false,"excerpt":"Interesting extract from Spiegel interview with Prof. Timothy Snyder from Yale: SPIEGEL: What motivates Putin?Snyder: I think Putin is playing an all-or-nothing game, geopolitically speaking. He no longer cares about tolerable relations with the EU or about a solid relationship with Ukraine. Putin has opted for something else, a much\u2026","rel":"","context":"In &quot;Russia &amp; Former USSR&quot;","block_context":{"text":"Russia &amp; Former USSR","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/russia-former-ussr\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":748,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/11\/europe-on-the-verge-of-a-political-breakdown-barry-eichengreen-project-syndicate\/","url_meta":{"origin":4481,"position":4},"title":"Europe on the Verge of a Political Breakdown &#8211; Barry Eichengreen &#8211; Project Syndicate","author":"ColinTwiggs","date":"September 11, 2011","format":false,"excerpt":"Europe doesn\u2019t have months, much less years, to resolve its crisis. At this point, it has only days to avert the worst. It is critical that leaders distinguish what must be done now from what can be left for later. The first urgent task is for Europe to bulletproof its\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2452,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/29\/quick-overview\/","url_meta":{"origin":4481,"position":5},"title":"Quick Overview","author":"ColinTwiggs","date":"November 29, 2011","format":false,"excerpt":"Looks like something positive is brewing in Europe, but I don't want to jump the gun. China looks weak, US probably through its worst, Europe still faces plenty of pain even if fiscal reform and euro-bonds introduced. Game changer would be QE\/asset purchases by Fed and ECB.","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4481"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4481\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}