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The 'Secret' of Poland's Economic Success


king polkakamon - | 544
10 Mar 2010 #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.
TheOther 5 | 3,831
10 Mar 2010 #62
Wages are paid according to the invested capital in a country.

First and foremost, wages are paid based on supply and demand.
king polkakamon - | 544
10 Mar 2010 #63
When there is no capital there is no demand.Think about that.
enkidu 7 | 623
10 Mar 2010 #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.
bullfrog 6 | 603
10 Mar 2010 #65
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
beelzebub - | 444
10 Mar 2010 #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.
lowfunk99 10 | 397
10 Mar 2010 #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.
TheOther 5 | 3,831
10 Mar 2010 #68
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 stop 25 | 2,513
10 Mar 2010 #69
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!
OP Happymeal 7 | 35
30 Mar 2010 #70
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

TIT 5 | 211
30 Mar 2010 #71
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
nomaderol 5 | 726
30 Mar 2010 #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.
plk123 8 | 4,150
30 Mar 2010 #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.
Ironside 48 | 9,837
30 Mar 2010 #74
I disagree .... and I ask again - what success?
OP Happymeal 7 | 35
9 Apr 2010 #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


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.

RevokeNice 15 | 1,859
9 Apr 2010 #76
When is Poland due to join the euro?
OP Happymeal 7 | 35
9 Apr 2010 #77
NEVER!

J/K

2012... Probably more like 2014
Bratwurst Boy 5 | 9,801
9 Apr 2010 #78
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!
convex 20 | 3,978
9 Apr 2010 #79
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.
OP Happymeal 7 | 35
27 Apr 2010 #80
Morgan Stanley To Open Office in Poland

"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,"
ismellnonsense
9 Jan 2013 #81
Merged: patriots leaving poland for economic reasons

what do you think of them

are they patriotic
Lenka 3 | 1,442
9 Jan 2013 #82
What else should they do?Live on benefits?They also contribute to Poland.
4 eigner 2 | 831
9 Jan 2013 #83
patriots leaving poland for economic reasons

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


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