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We are already competing with China, Japan, the U.S. and all other countries. And the Euro absolutely don't need a devaluation. The Eurozone already has a huge current account surplus. The Eurozone is very competitive. The growth is weak because the countries try to reduce the deficits. And they have some success by doing this. About 200bn Euro new debt in 2015, that's about 2% of GDP, compared to about 780bn USD new debt in the U.S. (about 4.5% of GDP).
The problem is, that some countries need a weaker Euro, whereas other countries need a stronger Euro. That's indeed a big problem.
That's not beneficial in any way to European countries, the shorter the working days the higher the productivity and the least the working hours are the more the employed will be. A rise in working hours would cause a rise of unemployment which is the last thing any government wants to happen given that the higher the unemployment will be the higher the discontent and the chance of losing next elections.
Quote:
Originally Posted by J.Thomas
Europe will compete with China.
Just Euro needs to be devalued massively
It's China that needs to catch to European countries, sooner or later those men and women who work their ass off for hours on end in the Chinese industries will rebel in the same way our ancestors have done in the past. The Chinese government will finally have to concede more and more rights to the workers and finally catch up with Europe on this kind of matter.
We are already competing with China, Japan, the U.S. and all other countries. And the Euro absolutely don't need a devaluation. The Eurozone already has a huge current account surplus. The Eurozone is very competitive. The growth is weak because the countries try to reduce the deficits. And they have some success by doing this. About 200bn Euro new debt in 2015, that's about 2% of GDP, compared to about 780bn USD new debt in the U.S. (about 4.5% of GDP).
The problem is, that some countries need a weaker Euro, whereas other countries need a stronger Euro. That's indeed a big problem.
so I think it really doesn't matter how long they are going to stand, talk, smoke and eat in their work, they are for sure not dying to "work their socks off" in France, I would say that only a very few people in so called Western Europe know what does it mean actually work and present their outcomes/achievements.
And that's also a reason why many companies leaving to the US or China because the working culture in these countries still requires employee to actually work.
Europe will only change if they feel they have to in order to compete but I think they have proven that they can compete at least in many of the Euro countries. Some countries, Greece for instance, needs a devalued Euro to be competitive but some countries, Germany for example, does not and in fact profits from the Euro being devalued by the southern Euro countries.
In most cases, you will see higher productivity per hour the less number of hours worked, as you increase hours over 40, there is a marked decrease in productivity.
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