Jo spoke to a huge audience at the TEDx Gateway conference in Mumbai on Sunday, on the topic of "Should Asia help the eurozone?" 

In his speech, Jo outlined the history and ideas behind "the huge historical project" of the European Union, and where it all went wrong, highlighting the decision to create a common currency without a common treasury, the strains of a one-size-fits-all policy and the fact that European institutions turned a blind eye to fiscal slippage.  He also explained that Asian competition had undermined the European social model of a lavish welfare state, restrictive labour practices and subsidies for farmers.

Jo acknowledged the temptation to find a 'dragon-ex-machina' that would rescue the eurozone from its current crisis, pointing out that China has enormous foreign exchange reserves, millions of Chinese jobs depend on European demand, and that it is in China's strategic interest to see the euro as a rival reserve currency to the US dollar.  But he said that there was a weak moral and political case since the eurozone had a per capita GDP quadruple that of China.  Jo concluded that only the eurozone can save itself, by allowing the European Central Bank to act as lender of last resort and making Europe competitive again. 

You can watch Jo's speech here