The Strengths And Weaknesses For The Rapid Growth Of Poland

Working in an industry with so much legislation has taught me to watch the news. In my five years of regular news watching I don’t once recall hearing Poland’s economy mentioned. Though rarely mentioned Poland certainly deserves a round of applause. They were the only European county to avoid the 2008 recession and were 5th in overall European economic growth last year coming in at 3.5% (Myers, 2016). In comparison the United States came in slightly behind at 3.12% (“US GDP growth rate by year,” n.d.). With their economic success and a variety of internships available Poland is an attractive option for those looking for international employment opportunities. If you are fortunate enough to find yourself in employed in Poland you will notice a significant difference in culture and management styles than that of the United Sates.

Out of the 28 members of the EU, there is ought to be a country with a weaker economy. Based off of Nauro F. Campos, Fabrizio and Luigi Moretti’s research, countries that recently joined (2004) the EU like Portugal, Czech Republic and Hungary now has an economy much higher than their synthetic GDP. Which is the predicted GDP if they didn’t join the EU (Doc B). This information proves that the EU does actually work economically as countries in the organization by improving their economy and supporting them. Another example of this economic growth is Poland. According to Mitchell A. Orenstein, the Polish economy had been growing “rapidly” for 20 years. At more than 4% a year. He also stated that some German industries are able to produce goods in Poland for cheaper than China. These examples show how the EU is able to support its members economically and still benefit the stronger members at the same time. Benefiting both sides brings peace in between the countries, which brings me to this last

Since 1950 European Union (EU) was created it has promoted peace, prosperity and values among the member nations and its neighbouring countries. EU’s influential tools, has helped transform many European states into functioning democracies and prosperous countries. EU’s membership has grown from 6 to 28 countries (Enlargement, 2014), satisfying a historic vow to integrate the continent bringing in most states of Central and Eastern Europe (CEE) by peaceful ideals.EU has anticipated the enlargement as an extraordinary opportunity to endorse political strength and economic success in Europe. EU’s extension policy is open to any European state that fulfils the EU’s political and financial criteria for membership; still the political process of inclusion of new state requires a unanimous agreement from all the existing 28 member states. Europe is considered to be more flourishing and safer place due to the promotion of democracy, anti-corruption policy and the single market policy.

To the untrained individual assessing the strength of economy, should be as simple as looking at the national debt and looking at the dollar amount in circulation. However, looking at such figures

The German economy is the largest in Europe and worldwide Germany has the fifth largest economy (“World fact book”, n.d.). It is clear that the German economy holds a key position in the world marketplace. Gross domestic product (GDP) growth is an important consideration for foreign investment as it speaks to the overall health of an economy. GDP growth can be attributed to spending and investments both on and from imports and exports (“What is GDP”, 2005). In 2014 the reported GDP growth rate in Germany was 1.4%, up .9 % from the prior year (“World fact book” n.d.). The Eurozone was deeply affected by a recession stemming from the US and made worse by poor economic conditions in Greece and Spain, among other countries in

Customer's needs, habits and wishes change day by day, for that reason the today's contest economy varies very quickly. The uncertainty for the future asks new management instruments.

A country who’s economy was devastated by the monetary exports demanded of them by the second world war, Greece has shown great financial fluctuation and vulnerability within the last 80 years, resulting in one of the most disputed economic records in the history of the European Union. Dubbed the ‘Greek Economic Miracle’, Greece showed great resilience throughout the 1950’s and 1960’s, with credit to their superior food trade and shipping industry, continuing to produce high levels of economic growth in contrast to others that had also been affected by the war. With the Treaty of Accession (1979) entering into force on 1st January 1981, Greek’s commitment to the European Communities (European Union) proved pivotal regarding it’s controversial qualification into the Eurozone in 2000. Owing to this, in an attempt to recover the unstable foundations of its economy, Greece has since been subject to various regulations and measures of austerity, leaving what was once a highly commended country both financially and socially, in a deplorable state of desperation.

In the this essay, I want to talk about one question, in the micro economic, individuals in the pursuit of their own self-interest will make decisions that lead the economy to efficient and socially optimal outcomes. How about int the macroeconomic? In my opinion people action can’t lead the economy to efficient and socially optimal outcomes in the macroeconomic.

Austerity as defined by Investopedia is a state of reduced spending and increased frugality in the financial sector. As defined by Merriam-Webster austerity is a situation in which there is not much money and it is spent only on things that are necessary. So what exactly do these two definitions mean and how do they correlate to what happens in an economy that is in a recession or depression? To me both definitions represent a state in which dire circumstances are faced and drastic cuts and revisions must be made to try and ensure survival. Austerity has always been looked upon as a more desperate attempt to revive an economy by dropping spending on only the most absolutely necessary items. Austerity is broken down into what’s known as austerity measures. According to Investopedia (2015) austerity measures are “attempts to significantly curtail government spending in an effort to control public-sector debt, particularly when a nation is in jeopardy of defaulting on its bonds”.

Every nation on this planet seeks to grow and develop. In recent years, the European Union formed to help the European nations grow and develop. Europe is no stranger to conflict of opinion. Many nations have been under duress economically, politically, or even socially. Poland is setting itself to become a key European nation.

One of the premier Baltic States, Latvia is a rather small country with a population of 2.5 million located in Northern Europe. For the latter half of the 20th Century it was under the control of the Soviet Union, however, it broke free after the collapse of the Soviet Union and declared independence on August 21st, 1991. Following its independence, it experiences rapid economic growth, and to further establish themselves in the global marketplace Latvia pegged its currency, the lat, to the value of the euro as it had recently joined the European Union in 2004. However, Latvia was not able to sustain this rapid economic growth, and it only was a matter of time before the expansion would transform into a crisis. This case displays how pegging currencies, influxes change in foreign money and investment, and the purpose of the IMF all affected the market economy.

In the early 2000s Poland had a tight monetary policy, which ultimately curbed inflation as well as made their transition into the European Union easier. As a newly democratic government Poland was able to grow by 1.5 percent during 2009. This was due to the fact that Poland “embraced market-based economic policies, opened its markets to international trade and foreign investments, and privatized many state-owned businesses” (Hill, 2015, p. 57). Large consumer markets came available to Poland when they joined the European Union which allowed them to become a major exporter, and their exports accounted for 40% of gross domestic product. Poland’s government also kept an eye on public debt, not allowing it to grow during the recession, unlike many other countries. Because of this, investor’s confidence grew and during 2008 to 2009 there were no large outflows of funds. In 2009, Poland also benefited from giving cash grants to people who exchanged their old cars for new cars. Poland had many vehicle plants and was selling a lot of cars and parts to Germany, this was done to increase the demand for German vehicle companies. In making all of these changes, Poland was able to avoid the worst effects of the economic crisis that took over a lot of Europe during 2008 – 2009.

European Union is the largest and most powerful economic alliance in the world. The European Union has succeeded to considerably expand its influence in the past 20 years. The three models of enlargement and the strengthening of the actual EU’s economic along with political presence throughout its neighborhood are among the most remarkable successes of its post-Cold War history. The European Union is probably the key facilitators of stability within the Western Balkans; it represents a good institutional and normative spine for Eastern Neighborhood countries and acts to be a partner for a new thriving economic partnership with most of the Mediterranean states. In the past

The Polish banking sector is the largest in all of the eastern European region with 5 national banks and nearly 600 cooperative banks. Poland's banking sector is also heavily owned by foreign investors with 80% of the countries banks being controlled by foreign entities (Export 2017). This came about when Poland decided to shift to a market-oriented economy and privatise or restructure many of the previously state owned banks. During this time Poland also introduced reforms to the financial system which made it more competitive and lured in strategic investors(Poznanski 1997). Since the introduction of more market based economic institutions Poland's stock exchange, The Warsaw Stock Exchange, has seen tremendous growth and is currently one

The European Union is the unique education which is taking place process of political formation. It can be considered as version of the answer to present calls as within united Europe there is an opportunity for the participating states to solve key problems of social and economic, political, cultural, ecological development and questions of internal and external security. In the XXI century, after semicentennial development of the European integration, EU I turned into one of the main and most developed centers of the modern world. The share of EU in a world gross product exceeds 20%, it is the share of it nearly a quarter of world trade. EU plays the leading role in rendering the technical and financial assistance to developing