631–640 of 944 posts
Earlier quoted context omitted.
foreign dollars and euros being spent in the country definitely counts as growth no matter how you slice it and regardless whether you like it or not.
It is local resources extracted, not foreign spent.
How it happened? (Source: I'm working with polish companies) 1. Hard working people 2. Biggest recipient of EU subsidies used for projects which generates more profit. Infrastructure, internet, etc. To compare, Czechia used it for stupid things like bicycle lanes, child playgrounds etc. 3. Building permit is very easy to get for basically anything. Yes, this way you can sometimes get chaotic new buildings, but this c…
I feel the need to correct the record. The only reason, there is this racist stereotype in some western countries that such and such ethnicities are not working, is because those countries make it exceedingly hard for those ethnicities to gain employment. For example requiring language fluency and forcing immigrants to attend language school full time instead of giving them a mop and a bucket and a minimum wage. In p…
As far as immigrants though, approximately 100% of them wish to be productive members of society, I agree. You dont go through the effort of emigrating without an entrepreneurial spirit.
Years ago I bought some really nice brushless motors and was surprised to see they were made in Poland. I had no idea they were manufacturers of things like that. Later I bought even nicer motors, meant to provide exceptional control and feedback for tactile/haptic behaviours, and they were from Poland too. Then I got to work on a robotic arm which contained a bunch of components from Poland. At this point it was cle…
Rockwell Automation has a facility in Katowice, Silesia which was/is a major centre of coal mining and locomotive manufacturing since the 1800s when it was part of Prussia, and continuing through the Polish Republic, WW2 era and beyond. The industrial heritage is strong.
I live in Poland. This headline is misleading. Poland didn't build a top-20 economy. Western Europe and the US built their economy in Poland, because the labor is educated and cheap. There are almost no globally competitive Polish companies. The "growth" is branch offices of German and American corporations taking advantage of engineers who'll work for 40% of Berlin rates. Remove the foreign-owned sector and you're l…
It's basically importing expensive R&D for "free" while helping establish a heavy industrial base (which has also proven very fruitful for South Koreans). I'm sure there are other examples like this. You also get a better trained workforce, and then the import of the technical knowledge later where it is slower to digest but with the ability now to turn that knowledge into working production.
I live in Poland. This headline is misleading. Poland didn't build a top-20 economy. Western Europe and the US built their economy in Poland, because the labor is educated and cheap. There are almost no globally competitive Polish companies. The "growth" is branch offices of German and American corporations taking advantage of engineers who'll work for 40% of Berlin rates. Remove the foreign-owned sector and you're l…
Cursory search shows 1% companies in Poland are foreign enterprises which drive ~40% of output, ~30% of workforce and ~70% of exports. These are companies that will dip if Poland gets too expensive or geopolitics, in the meantime what is Samsung or Hyundai or Huawei of Poland. At end of day, countries need national champions committed to their own midstream industries who end up capturing the rents.
Earlier quoted context omitted.
> The rest of the EU also benefits from their hard work I don't know. I want to agree with you, but a large part of the economic growth in Poland is off-shoring and cheap tax (~12% on contract) for tech workers. The average tech wage there now is pretty similar to the UK, and I don't really see many startups there - probably in part because of how bureaucratic their business system can be. I don't know if this influx…
You dont have money, you complain. You (as in your country) get the money, yet you still complain. Sure, its not ideally distributed, but nowhete is. Such economic success will drag many parts of the country up. Yes, jobs not paid the best will have to commute from further. But compared to where Poland was 2 decades ago (been there many times), its great growth and success. Plus you guys have correct mentality to by…
I live in Poland. This headline is misleading. Poland didn't build a top-20 economy. Western Europe and the US built their economy in Poland, because the labor is educated and cheap. There are almost no globally competitive Polish companies. The "growth" is branch offices of German and American corporations taking advantage of engineers who'll work for 40% of Berlin rates. Remove the foreign-owned sector and you're l…
Let’s be honest. If anyone would be building a brand new company in Poland or any other country with the intention of raising capital or IPOing they would still incorporate in the US or a handful of other countries. So any successful Polish company would count as American/ German / Singaporean / etc anyway.
CD Projekt is listed on the Warsaw Stock Exchange. Is that an American/German/Singaporean/etc company?
I live in Poland. This headline is misleading. Poland didn't build a top-20 economy. Western Europe and the US built their economy in Poland, because the labor is educated and cheap. There are almost no globally competitive Polish companies. The "growth" is branch offices of German and American corporations taking advantage of engineers who'll work for 40% of Berlin rates. Remove the foreign-owned sector and you're l…
Earlier quoted context omitted.
foreign dollars and euros being spent in the country definitely counts as growth no matter how you slice it and regardless whether you like it or not.
Foreign investment isn't fake growth and money being spent in the country is definitely a good thing. It's how Singapore managed to kickstart its economy in the 1960s. Lee Kuan Yew tried very hard, and succeeded, in getting foreign corporations to set up shop in Singapore. The key is to capture value and move up the chain over time rather than getting stuck as a "cheaper back office".