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The 'Secret' of Poland's Economic Success


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king polkakamonThreads: 1
Posts: 1,018
Joined: Dec 30, 09 ♂ 		 Mar 10, 10, 20:02    #61
Wages are paid according to the invested capital in a country.The reason that Pole get wages 40% of the wages of Germans is that the invested capital in Germany is 250% that of Poland.
TheOtherThreads: 5
Posts: 1,584
Joined: Jul 13, 09 ♂ 		 Mar 10, 10, 20:08    #62
king polkakamon:
Wages are paid according to the invested capital in a country.

First and foremost, wages are paid based on supply and demand.
king polkakamonThreads: 1
Posts: 1,018
Joined: Dec 30, 09 ♂ 		 Mar 10, 10, 20:39    #63
When there is no capital there is no demand.Think about that.
enkiduThreads: 18
Posts: 983
Joined: Sep 23, 08 ♂ 		 Mar 10, 10, 21:17    #64
Poland's secret is simple. While western (especially UK and USA) is mostly based on "financial market" or "service industry", Poland main business is production of goods. Basically - huge part of the UK GDP has is source in City operations which means a lot of the "creative accounting" and taking money from one pocket into the other. These are virtual profits.
bullfrogThreads: 4
Posts: 390
Joined: Apr 23, 09 ♂ 		 Mar 10, 10, 21:56    #65
enkidu:
While western (especially UK and USA) is mostly based on "financial market" or "service industry", Poland main business is production of goods.

Wrong. 65% of Polish GDP is in services, 30% in industry an 5% in agriculture
beelzebubThreads: -
Posts: 515
Joined: Feb 16, 10 ♂ 		 Mar 10, 10, 22:13    #66
If you think the UK is anymore corrupt when it comes to Poland as far as "creative numbers" go then you are deluded. The zl was being "propped up" by creative numbers until the global crisis pulled the legs out from everything. It has been back to normal market values every since.
lowfunk99Threads: 18
Posts: 435
Joined: Jan 7, 08 ♂ 		 Mar 10, 10, 22:17    #67
I think the main reason is Poland does not have easy credit and financing. In the US and many other western countries they gave credit to people who should not have received it. It was a system that worked as long as there was growth. Plus like the above poster stated other countries have gotten away from manufacturing. We have the worst economy in the US where I live. I have not been able to find work since I have returned from Poland.
TheOtherThreads: 5
Posts: 1,584
Joined: Jul 13, 09 ♂ 		 Mar 10, 10, 22:54    #68
king polkakamon:
When there is no capital there is no demand

Capital moves to places where possible profits are the highest. How do you maximize profits? By keeping your costs down.
f stopThreads: 33
Posts: 2,861
Joined: Dec 9, 09  Pictures: 1 ♀ 		 Mar 10, 10, 22:55    #69
lowfunk99:
We have the worst economy in the US where I live. I have not been able to find work since I have returned from Poland

Why can't you get out of Michigan? Worst unemployment in the entire US!
HappymealThreads: 14
Posts: 40
Joined: Feb 14, 09 ♂ 		 Mar 30, 10, 01:12    #70
What goes around comes around in Poland

www.edmontonjournal.com/opinion/What+goes+around+comes+around+Poland/2 735897/story.html

The less sensitive in the media have described it as the third invasion over the past 100 years. Ouch. But tragic events of the past aside, it is beyond mere passing interest that Germans are once again streaming into Poland.

This time, it's for jobs. That's right. Even though Germany remains Europe's richest country as expressed by GDP, the economic downturn and resulting unemployment has scrambled up the old order somewhat. Last week, British newspaper stories reported 2,500 German job-seekers are registered in and around the Polish port city of Szczecin with more than double that figure expected as the vise tightens in the old country
TITThreads: 9
Posts: 353
Joined: Jan 7, 10 ♂ 		 Mar 30, 10, 01:31    #71
i am not so sure about the news from der spiegel

link in polish language says something different

http://www.radio.szczecin.pl/index.php?idp=0&idx=59718
nomaderolThreads: 7
Posts: 1,213
Joined: Oct 18, 09 ♂ 		 Mar 30, 10, 02:38    #72
There is no success in poland. Without knowing anything there, i can say this easily.
Poor africa wont feel the crisis as they have been crisis already for a long time and they used to live so. These poor africans are even better now as most of active businesses in the world are UN tenders and they were programmed mostly for africa. Middle level countries like Poland won't feel the crisis yet as much as the richer places living.
This crisis collapsing higher buildings, in other words, hitting richer places than world average. Self-equalizing is on the way. Call it self-social economy if you dont like term socialism. And, this will be done by capitalists. Bitter, isnt it.
plk123Threads: 30
Posts: 6,412
Joined: Aug 29, 07  Pictures: 2 ♂ 		 Mar 30, 10, 06:20    #73
the secret to this "success" (LOL) is because of massive EU investment into PL.. nothing less, nothing more.. and that's the whole truth too.
IronsideThreads: 59
Posts: 6,783
Joined: Feb 26, 09 ♂ 		 Mar 30, 10, 14:56    #74
the secret to this "success" (LOL) is because of massive EU investment into PL.. nothing less, nothing more.. and that's the whole truth too.

I disagree .... and I ask again - what success?
HappymealThreads: 14
Posts: 40
Joined: Feb 14, 09 ♂ 		 Apr 9, 10, 00:07    #75
GREAT read, from a different point of view ;)


Is Poland Too Cocky About Its Economy?
The Eastern European giant's relative success during the global economic crisis may have bred a dangerous complacency about its real fiscal prospects
http://www.businessweek.com/globalbiz/content/apr2010/gb2010048_192248 .htm

Perhaps being named European finance minister of the year has gone to Polish Finance Minister Jacek Rostowski's head. After Poland's stellar but slightly lucky economic performance in 2009, some economists say Rostowski is dangerously downplaying risks that could weigh on the country's prosperity, undermining the credibility of his government's fiscal-deficit reduction efforts and narrowing Poland's path to the eurozone.

"The deficit reduction program is very optimistic, as it's based on GDP growth of 3 to 4%," Millennium Bank (BMSAF) chief economist Grzegorz Maliszewski said. "Implementing this scenario is risky. Until 2012, everything will depend on GDP growth."

Civic Platform, Poland's senior ruling coalition party, is clearly hoping to avoid painful reforms before the presidential election this autumn and the parliamentary election in 2011. It also wants to ensure that the public-finance deficit is cut from over 7% of gross domestic product to below 3%, as required for adopting the euro.
RevokeNiceThreads: 21
Posts: 2,766
Joined: Jun 20, 09  Pictures: 1 ♂ 		 Apr 9, 10, 00:08    #76
When is Poland due to join the euro?
HappymealThreads: 14
Posts: 40
Joined: Feb 14, 09 ♂ 		 Apr 9, 10, 01:31    #77
NEVER!





J/K


2012... Probably more like 2014
Bratwurst BoyThreads: 11
Posts: 14,563
Joined: Apr 2, 07 ♂ 		 Apr 9, 10, 01:43    #78
Happymeal:
2012... Probably more like 2014


Well....I could also imagine that no new country will join the Euro till some urgently needed changes to the laws are being made to avoid more Greece-cases!
convexThreads: 46
Posts: 7,185
Joined: Nov 25, 09  Pictures: 2 ♂ 		 Apr 9, 10, 01:45    #79
Happymeal:
2012... Probably more like 2014


The plan is to possibly enter ERMII by 2012 if all goes well. Right now, it's in the best interest of Poland to stay out for as long as possible. Had the zloty not been massively devalued, the Polish economy would have been dead in the water for the last two years.
HappymealThreads: 14
Posts: 40
Joined: Feb 14, 09 ♂ 		 Apr 27, 10, 23:25    #80
Morgan Stanley To Open Office in Poland
http://www.marketwatch.com/story/morgan-stanley-to-open-office-in-pola nd-2010-04-27?reflink=MW_news_stmp

"Warsaw is fast establishing itself as a leading financial centre in Central and Eastern Europe. As it opens up to global capital markets, there is considerable demand from Polish clients for investment banking and capital raising solutions, and Morgan Stanley, with its global franchise, network and capabilities, is uniquely placed to deliver such solutions,"

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