The 'Secret' of Poland's Economic Success

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.

First and foremost, wages are paid based on supply and demand.

When there is no capital there is no demand.Think about that.

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.

Wrong. 65% of Polish GDP is in services, 30% in industry an 5% in agriculture

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.

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.

Capital moves to places where possible profits are the highest. How do you maximize profits? By keeping your costs down.

Why can't you get out of Michigan? Worst unemployment in the entire US!

What goes around comes around in Poland

edmontonjournal.com/opinion/What+goes+around+comes+around+Poland/2735897/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

i am not so sure about the news from der spiegel

link in polish language says something different

radio.szczecin.pl/index.php?idp=0&idx=59718

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.

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?

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

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.

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.

When is Poland due to join the euro?

NEVER!

J/K

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!

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.

Merged: patriots leaving poland for economic reasons

what do you think of them

are they patriotic

What else should they do?Live on benefits?They also contribute to Poland.

I...smell...nonsense ;-)