Honestly, Peter, it's getting somewhat tiresome. When we were discussing that point in the other thread, I told you exactly this and you denied it. Low wage levels attract investors, which in turn help the economy grow. Low salaries is a competitive factor in the global market. Once you lose your advantage (of low wages), investors move on. I don't know why you have a problem to understand that
I completely agree with that, up to the point that once investors move on, what left behind is a rich society becuase the extent and capability to move on is extremely limited. Once you build factories, infrastructure the inertia is there to leave them and increase productivity.
Ireland is a country that has benefited immensely, now lost a few %age of GDP but the vast majority has stuck and will stick. Dell went, but who cares? the money in PC's has gone.
It will be interesting how Poland handles a 'Tiger economy' at the crucial point where wages are level with its neighbors and the temptation of easy money via Euro entry becomes possible.
I'd trust Rostowski but if the lunatics get in power its could be a monster cluster ****.