8:48 Could you please reupload this video with fixed map or do something else to repair your mistake? Sorry, but it's just awful to look how wrong outline of China is (And Sudan and Kosovo actually).
@economicsexplained You might want to remove the link to the Hubspot ChatGPT guide. It’s really terribly written and full of misleading info. Whoever signed off on publishing that did not understand the platform or capabilities. The author relied too heavily on generative AI, and they got hallucinations in response.
Despite Polish politics being bit shizo (it take some time Western investors realize that they should ignore political drama). Poland actually did have decent economists and academics. It is why Poland actually is a meritocracy, where legislature is voted after preparation according to legislative office (experts). Furthermore we need remember that Poland WAS a successful free market economy prior to WW2. And as such many people who actually know hoe capitalism work, were here. Just not officially for obvious reasons. It is why Poland has shockingly docent banking system. Which is why it was not affected by economic crisis of 2008.
@@TheRezro I'm not sure that Polish politics is any more 'shitzo' than any other part of Europe! I'd be interested to learn how many Polish people have actually returned there. Here in UK my Polish friends are, well, still here!
Poand has never been "soviet republic" because it has never been a part of a country called USSR unlike Latvia, Lithuania, Estonia, Ukraine, Belarus or Georgia. Poland was soviet satelite state just like East Germany or Chechoslovakia. Forced to live under Moscow's commands but still a separate country with its own land, borders, flags, anthem, political leaders.
From economic perspective it make no difference. Nothing on shells and corruption, if you want something better/new you had to know people to get (not stricte give them money, but they would give limited stock to people they know, so they would get similar treatment)
Economic perspective is not the only one. I write it as a Pole. Calling us "sovet republic" is pure ignorance and an insult. It does matter to us. @@m_sedziwoj
Год назад+71
@@m_sedziwojthe economic difference is important as well. The USSR was richer, had a different currency, different economic model, particularly in agriculture, but also in industry, where USSR had much more centralized and monopolized heavy industry, so it was more difficult to kick start capitalistic competition. Poland was effectively the USSR's colony. Or one could argue USSR's republics were a more integrated layer of colonies of Russia proper, while other Eastern Block countries were the outer ring of colonies.
I respect Polish people. They don't want terrorism, drugs and knife crime in their country. They are trying to stop their cities from turning into third world sht oles
Everyone can be racist, but racism should be in moderation, not going after you just because you want to see their f country and see historical sites,i didn't fly for 10 hrs to beg for your money, I came to spend money in your shitty economy.
I have split feelings, i work with a lot of poles and they are all some of my absolute favorite people with their no bullshit attitude and dry humor but I have also been there a few times and the number of flat-out rude and unfriendly people I have encountered was also a bit shocking.
@@travisfubu9053Poland wants a nation with polish people. You are very ignorant and stupid if you call them racists, just study the history of Poland. They have every right to be careful about immigrants and foreigners they don’t know. And if you watch what happens in Germany, France and UK you will see Poland did everything right.
It was said that Poland hasn't adopted Euro yet, like these former soviet states (Latvia, Lithuania and Estonia), but not that Poland was a soviet state.
Who put it in "eastern block"? Poland was occupied by russian gangrene thanks to Roosvelt and Churchill. Poles hate commies gangrene... Well, most of them because there are a lot of leftist lovers (the ones who tells you "there's no democracy and freedom" in Poland)
We meaning whom, and how exactly? and no we Poles ain't interested in becoming Germany nor did we ever were or tried. Germany had totally diffrent economic model, focusing heavy on car industry, cheap Russian gas and it is vastly pumped above it's weight with that EU domination that secured them monopol on exports and preferential treatments from EU bodies for years.
@@zawiszaczarny7876 I think Germany is rich because it exports a lot, while currency appreciation is kept in check by other less export-heavy EU economies that also use the Euro. Exporting a lot means they get rich, and they definitely benefit a lot from being part of the EU. But I think the EU benefits as well.
@@zawiszaczarny7876 this was a historical joke based on the number of times Germany and pre-unification-german states have invaded and controlled Poland, especially the Second World War.
It's clear that Poland has established itself as a robust player in the European economy. I wonder if there are opportunities for American investors and businesses to benefit from this growth.
Well, I recently came across Loren Lena Walker, a financial advisor who specializes in international investments and market opportunities. She might be the right person to guide Americans in exploring Poland's economic potential.
Dziękuję w imieniu wszystkich Polakow za pozdrowienia, Polska ma teraz ciezkie czasy, Polonia z wlaszcza Niemiecka glosowala w wyborach na Tuska i mlode dziewczyny ktore nie znają polityki, Tysk moze rządzić, to bedzie tragedia dla Polski, a unia wymusza na wszystkich mniejszych panstwach, lamie wszelkie prawa unijne, zesmy wpadli w nie samowite bagno, obejrzyj jaka jest faktycznie unia, to diabel wcielony,,, FIRMA KTÓREJ PRACOWNICY BLAGAJA O POMOC,,?
Thank brothers ❤We’re rooting For you too! Actually i just watched a Polish video on YT talking about Romania 🇷🇴 and how it’s on its on the positive path to outgrow Poland.
Poland is home to Andrzej Sapkowski and CD Projekt Red, the legendary creative team responsible for the video game *The Witcher*, and the book series that inspired it.
@@EconomicsExplained You can always watch older Polish tv show. When it was released I thought it was poor thing, but comparing to Netflix s..t it`s still pretty cool.
I didn’t take this video as positive view on Polands success, rather how fragile it is and that it won’t last. Almost as if the author didn’t believe in this success and maybe is slightly irritated by it? 🤔
the question is if it will last longer than we think - if you will take under consideration rapidly growing salaries in the IT services and the fact the vast majority of the clients are not national, but outside you can get into the conclusion it can be replaced sooner or later by similarly educated professionals in Bulgaria or Romania. A lot of major international companies outsourced the work to Poland but money always wins so some roles will be exported to cheaper locations for sure.
My best friend in primary school was Polish- hence why for Poland there is a special place in my heart. I wish Poland the best of luck for the future and hope they'll be able to prosper. Love from Pakistan ❤
If any country deserves a break, its Russia. Good on them for constantly not giving into being taken over by either Nationalist french, Nazi Germans, or Imperialist americans. Considering it exists at all, manages to have an economy, is in the top third of the world by gdp per capita, has a national identity, language, culture, history, and heck, HAS A BORDER LOL its doing pretty well.
Poland is quickly becoming very attractive for tech. If they keep this up, you could see Poland outshine traditional powerhouses in 30 years (or sooner).
@@EconomicsExplained It has already become a hub of innovation and R&D for many world-leading companies like Samsung, Schneider, Nielsen, P&G, Accenture, General Electric, Goldman Sachs, T-Mobile, EY and many more
2:08 Poland has been invaded so many times, you know something's changed when someone is confident saying that the chances of Poland being invaded are "extremely slim"
yeah I was like huh? Didn't Putin said the war will only stop if the Soviet Flag flies over the Reichstag in Berlin again? Poland is kind of in the way between Moscow and Berlin last time I checked
@@gareonconley1956 well Poland is part of strongest military alliance world ever saw and Polish military now is 3rd strongest in europe just after russia and France. but Polish military is top modern.
@@Lando-kx6soPeople like to act as if most developed nations aren't experiencing a population decline and only focus their attention on countries that don't accept illegal immigration like Poland and Japan.
Estonia is a good example for Eastern Europe, Poland is absolutely average when compared to other ex-Soviet satellite states. Heck, even countries that were a part of Soviet Union - Lithuania, Latvia and Estonia all have higher GDP per capita than Poland The only Eastern European countries that are significantly behind Poland are Russia, Belarus, Ukraine and Moldova, as all are victims of current Kremlin politics.
Yeah this video is literally clickbait. Poland had been the "toilet cleaners" of west europe and any economic growth they had was thanks to EU grants, which every other eastern european country received, and usually invested better (Baltic countries, Romania in the past few years, Checzia). The main reason Poland is "famous" is because she is constantly squabbling with Germany, so their populist conservative party can stay in power.
Poland's borders were changed post WW2. The eastern portion of Poland were stolen and it was given a slice of eastern Germany by the USSR. Poland is historically known as Eastern European. It is a slavic state.
I think the biggest improvement after joining EU was infrastructure investemnt. Back in the 90s both railways and regular roads were in dire state, unable to acommodate the increasing economic activity. No highways, almost no express roads, local roads with holes bigger than the budget hole left by minister Bauc. EU invested massive amount of money over the first decade of membership into these areas which made Poland being attractive for any serious business.
Indeed. I remember when they first opened the metro in Warsaw around 1995 I believe. It was a huge deal! No more taking buses down streets with massive potholes lol. Haven't been back since 2000 so it was nice to see the progress in this video.
"I think the biggest improvement after joining EU was infrastructure investemnt." So, that was still the effect of joining the EU. Most likely, the majority of those infrastructure investments wouldn't happen without the EU. And the EU didn't pay 100% of the price, but the money was a huge driving force that those projects happened in the first place (because from the perspective of Poland, many expensive projects became much cheaper, while still offering a great net return).
It seems improving infrastructure for new members has been one of the success stories of the EU. Spain is the obvious case study, which now has some of the best roads and railways in Europe. Ireland is similar, and I'm sure there must be others.
Estonia and Slovenia have done by far the best out of all post-socialist states. They definitely deserve praise, especially estonia since it was part of the soviet union and is farther away from western europe
The population of Estonia is comparable to the population of Warsaw alone. The size of Estonia is smaller than the Masovian Voivodeship in Poland. I think that comparisons do not make sense, because the differences are too great, the challenges are different, the scale of activities is different. The Polish economy is not only much, much larger, but also much more complex and diverse. Regardless, it is definitely worth watching a film about Estonia or Slovenia.
Poland has no interest in becoming the second Germany because there is only one Poland. We want our citizens to live in peace and prosperity in safe Europe. Also, Poland is not a miracle but a result of sacrifice and hard work of its citizens. Poland has 40 millions of people today.
yes it has, we are trying our best to catch up with EU greatest economies in Germany and France, then keep up and potentially someday overcome to be the new leader. Sky is the limit, capitalism is a blessing and Poles are highly educated and hard working people, now speaking fluently foreign languages.
Poland is a result of Russia putting this country on the map and German sponsored EU funds. American lapdog poland bites the hand that's feeding it as usual.
@@CJBillJrIt’a a wrong way of thinking. You don’t become the leader by simply catching up and becoming like the ones that are in front of you. You need to learn from their mistakes never commit them, find your own way to succeed and create a completely new quality.
The fact Poland never adopted Euro as official currency and still keeps Zloty is a 10000IQ move. While it comes with some drawbacks, not having a currency that's value is tied to like 40 other countries is an extreme economical advantage.
@@RandomGuy-lu1enso is having a left leaning one because typically both sides of the political spectrum are economically illiterate Note: economically literate people support freer markets
Its strange that ukraine is and was ridiculously far behind poland or any other slavic states in per capita gdp, including russia. Very smart move of Poland to just have people compete against state enterprises. I'm thoroughly impressed.
A great part of their economic success is due to the European Union pouring millions of Euros to put Poland's infrastructure up to speed, but of course Poles like to say it's all their own credit. Having said that, they managed to get rid of corruption, something that is still haunting other ex-soviet countries
I like this video, Poland has many things in common with Czech Republic (country were I live). It would be interesting to compare these two. I looked to historic chart of GDP in both countries and I see a more "sustainable" growth rate in Poland than in Czech Republic although we are a bit richer then they are on average. It seems like Polish have a brighter future than we (Czech) can expect despite the borders with Ukraine.
I go to Czechia often and from street level, Czech towns and villages are almost Western Europe level. Poland is 5-10 years behind Czechia (also in GDP per capita), but the gap is closing.
Byłem wiele razy w Czechach i wyglafaja one znacznie biedniej niz Polska, zwlaszcza wioski, domy i infrastruktura jest o wiele gorsza niz w Polsce. Niestety małe Czechy zawsze mialy kompleksy i traktowaly Polske jak Rosję lub gorzej... Nie ma co porownywać Polske z Czechami. Potencjał gospodarczy Polski jest kilka razy wyższy niż Czech. Poza tym Czesi ze swym kompleksem malego, nieznaczącego państwa są zabawni... 10 lat temu Czechy nie rożniły się od Polski w ogóle..
7:55 - 8:05 Poland never belonged to the Soviet Union. Indeed, during the Cold War, the government in Warsaw was fully dependent on Moscow, but Poland was not part of Soviet state.
Thanks for a great episode. I am actually a Pole and I have an idea for another interesting episode. Within Poland we have quite a big (heated) debate whether we should adopt Euro or not. It would be nice to gain an outside perspective on that matter from a renowned economics channel, since ultimately, whether we will adopt it or not most likely depend on who Poles will vote for in the near future :).
Speaking as an American, currency abandonment should not be a whimsical decision. Nations like Lebanon have had to abandon the Lira due to intense inflation and unofficially adopt the dollar. To change domestic currency would suggest there is a serious perceived instability, like we saw in Greece. Keeping both currencies is also much healthier for the consumer as it allows more forms of exchange, like gold and silver, but still in fiat currency. For a real life example, Poland avoided much of the financial crisis in 2008, whereas the EU saw losses. This ties back to Greece where it was unable to independently devalue its drachma due to Eurozone ties. Maintaining fiscal independence outside of Brussels is a benefit for Poland.
Not controlling own currency is suicide. Euro should be never adopted because as a result country will lose economy leveraging power and part of independence. Greece is great example what means not controlling its own currency...
This debate has been pretty much resolved. There is hardly any economic advantage for Poland joining the Eurozone. Politically it's also very dubious as it means assuming responsibility for countries of Southern Europe, which are likely to fall into huge economic problems. I think that all political parties announced that adopting the Euro was not on their agenda, right?
I'm curious what the current state is of that Romanian town: Glod, that unfortunately became part of the 2006 Borat movie. How have things changed in Glod in 17 years? Did it bring an influx of tourists? (similar to how Borat increased tourism in Kazakhstan). Has 17 years allowed the town to improve some if its infrastructure?
@@2drealms196 I wouldn't say it improved much, although the GDP doubled in the last 16 years. Romania developed quite fast (similar to Poland), but unfortunately the growth has been concentrated in a couple of regions (e.g. Bucharest, Cluj, Timis).
Great video! Please do Romania as well, I was astonished to learn it was the 19th most complex economy in the world, above many developed countries. Should be interesting to look at. It also has an abundance of strategic resources.
@rustix3 why? Before tax is the measure of value for work. Tax gets used to fund public services and is highly variable across nations so it does not compare well when looking at just the economy.
@@freetimefoster I was thinking from the point of view of the random citizen. The author of the video was talking about Polish people moving to work in Germany because of high salaries. And he showed us the average salaries in both countries(I don't know how true those numbers are). But if let's assume the tax is 50% and in Poland it's 10% then the salaries are roughly the same, so after couple of month the Polish people should return to Poland. I exaggerated the numbers, but I think you got my point. I don't see the strong reasoning of Polish people moving to Germany by the numbers provided.
@rustix3 but using hypotheticals if the high tax country offers free public transport, better schools, free university, free top quality health care, better environmental protection etc etc then the tax becomes somewhat irrelevant.
@@freetimefoster In my opinion the people who work, benefit the least from the taxes. Because benefits are aimed at non-working people: retirees, pupils, students, ill people etc. That's why I would think that a young or middle aged person wouldn't count those taxes as benefits, but rather the necessary evil. Anyway its so nice to have such a calm discussion in the internet. I am somehow surprised. Thank you @freetimefoster
For me as someone from Czechia (Poland's southwestern neighbour in Central Europe) it is interesting to follow the development of Poland. And even from what ordinary Poles tell me, the country is really successfully rising. Just a decade ago a trip to Poland was like a return to my childhood, grey crumbling houses, crappy infrastructure, you could really feel the poverty in many places. But the country has moved on a lot in the last decade and you can see it in the streets of the towns and villages. Let's see how it develops further. 👍
tak naprawdę Wojciechu nie ma między nami różnicy. W każdym kraju ( nawet twoim :) są obszary biedniejsze i bogatsze. Dekadę temu nie było już ani brzydkiej infrastruktury ani biedy. Jak czytam komentarze z Cech zawsze nie mogę nadziwić się waszej wyższości, a byłam w Czechach nie raz i powiem Ci szczerze, nie wiem skąd ta wyższość.
@@katarzynafiakowska2054 droga Katarzyno, mieszkałem w Czechach 2.5 roku i jest duża gospodarcza i społeczna różnica między tymi krajami. Widać to w statystykach, w płacach i widać to w wyglądzie miast i wiosek. Widać w jakości usług publicznych (służba zdrowia nie do porównania, pociągi...). Czechy stoją na wyższym poziomie. Może nie jest to odległość kosmiczna, ale jest wyraźna. Zdravím z Varšavy
Because of all the economic growth there's more people coming into Poland today . The culture also leads to even more wealthier people coming to Poland for tourism or to live
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A countries greatest strength is its national character. This cannot be mandated, but is the result of centuries of history. This means some countries will succeed and others fill fail, no matter how much money is pumped into them.
People dosen't understand that GDP has nothing to do with living standarts. Usa is a rich country but somehow no one from europe wants to go there as it was 30 years ago, whem everyone dreamed to go there.
Was looking forward to this Econ of Poland video after you mentioned its coming up in another one. Thanks for making it!! Actually learned a few things about my country's transition from capitalism
About military build-up: If done well it could be one of the bridges to cross that middle income gap. Military industry is and always been about bleeding edge of technology over various industries. And Poland is putting a lot of emphasis on building most of the equipment here and technology transfer as opposed to simply buying systems abroad. That could be a breeding ground for more domestic high-tech capabilities
12:51 you show average polish salary of 2511 USD, I'd love to see a source of it as based on the latest GUS report average income is 7000 PLN which is around 1600 USD
The more I learn about Poland the more I feel like they have more things in common with us. From their bumpy history, cities that looks like here back in the early 2000s (I am mentioning this with all the love for my fond childhood memories I had as a 00s kid), and also a writing system that Western Europeans and Americans find it less familiar. (Challenge: not pronouncing Łódź as Lodge but instead Woochi, difficulty impossible) They have a lot of things going for them as my country did 20 years ago, and on top of that they have good milk. Their milk is the newest member of our "best cheapest delicious food hall of fame" since Chilean grapes, Australian beef, and Norwegian mackerels.
@@knpark2025we Poles just speak how its wrote, every letter have it own sound and its not changed on demand like english. For ex. "Cool" there is "c" and there is "o" but when its dubble "o" you speak as "u", and you change "c" on "k" when you say it, weird and confusing
Regarding growth: Poland is not only the fastest growing country in Europe but rather in the WORLD (compared to the 25 largest countries by GDP between 1990 and 2020 based on IMF statistics). 1st place goes to China and India achieved bronze medal. Congrats to all :)
China had fastest growing GDP from 1990 to 2020 (3593%). Poland was second best, but far behind China (857%). In 2023 Poland had fastest growing GDP in the world (3.9%). Now Chinese economy is collapsing so Poland may remain the GDP growth leader for a few more years. Poland is quickly becoming influential European country because Germany and France are in bad shape. German neo-Marxists hope that tomorrow (Sunday, 2023-10-15) Polish neo-Marxists will win Polish elections. The Polish neo-Marxists take money and orders from the German neo-Marxists. All neo-Marxists want to replace Europeans with foreign savages because the savages always vote for the neo-Marxists.
When you start from the level of Pakistan or Zimbabwe (see the beginning of the video), *any* growth will be significant, because it's relative. Ask yourself why Poland is so far behind Czechia and Slovenia in HDI.
@@LMB222 Czechia was not ruined by the WW2. On the contrary, large percentage of Czech population worked in German weapon factories located in Czechia and they enjoyed relative prosperity during the war. Many ethnic Czechs could not speak Czech language, so they spoke German.
8:44 Why does the western border of China look strange to me? Like something is a bit off with Kyrgyzstan, Tajikistan and Pakistan. Afghanistan has no land border with China. The map is wrong..
Would really love to see all the baltic countries have their own video, they are named the baltic tigers for a reason - Would be a insightful deep dive from the economic perspective!
One hidden problem that you haven't talked about and will be a major barrier to Poland "catching up" with France and Germany is the fact that Poland will never have any immigration due to the Polish language being literally the most difficult one in the world, apparently. Polish people will rightfully expect guests to learn Polish, same as anywhere else, only that is an impossible request. Poles already being more conservative than French or even German people, when they see their immigrants not speaking Polish *at all* , they will naturally grow even more resistant to the idea of immigration. This will make the Polish economy plateau much sooner.
Moved from London to krakow were my company ve opened the branche there. Very happy safe homogenous soviety. In london i rent a small flat for 1.5 k £ here for 700 i live in new estate and all my neighbours are guys who work in corporate environment not in Turkish take away. Very vibrant modern city with huge architectural beauty great nightlife. One thing to add - when in poland currency is PLN zł making stats in $ dont show real truth. Earing in poland 2 k $ - 10 k PLN per month u live like on very high standard when in london or geneva or Berlin u have for rent. In poland AV salary now is 7,8 k pln. Easy . Best idea is to try it youtself YT wont tell u the truth just stats from wiki or ocd
You completely skipped polish IT sector. Around 500k high paid and skilled employees, 60k tech companies from around the globe. Poland is one of the leaders of IT outsourcing 😉
This is a natural part of becoming a more advanced economy, but this brings with it certain traps like the middle-income trap I talked about in the video, where the cost of living could rise so much that they lose their competitive advantage for low cost manufacturing.
I suggest you looking into Romania. Apparently we are headed on the same route Poland was in the early 2000s, since we reached the psychological threshold of 1,000 km of motorways in the country. Great video, keep up the good work and consider my suggestion!
The huge problem you addressed in a video before but you didn't address in this one is, the inequality. Which Poland speedruns with high efficiency. Trying to keep the low wage workforce going on for as long as it's possible. With housing prices skyrocketing to german prices, but the wages stalling behind. Renting a home can cost more than a whole wage. If one isn't born in a city, getting there on your own is mathematically impossible. Just to keep labour cost lower, the wages don't grown proportionally to expanses for basic need. putting a huge pressure on the people. Sure the wages grow by 10%, but if the price of a house jumps by 40% and the food jumps by 20%. You will still afford less afterwards. Adult people live in their parents house without a job, or a job that doesn't pay enough to ever leave, but drains their energy too much to escape such situation. This causes severe inequality and ultimately, economic instability.
That is easier to count GDP than the usual people prosperity. Actually, you have addressed the core problem of the Polish economy. If you rise salaries/wages the owner of the business (huge part of the beneficiaries are not of Polish residence) is not interested in doing business in Poland anymore, because the lower labor cost is the biggest advantage. On the other hand if you keep wages low - people will start to look for other countries because they simply can not feed their families. The bubble in real estate is so pumped that it is very dangerous to bust it, but keep it longer is even more danger. if another 90s are ahead of us it will be very optimistic scenario.
$45K per capita PPP may be in Warsaw, but average PPP is close to $30K, although due to higher inflation (about 10%) prices are raising, so PPP may fall. IMO the best year was 2020.
@@PI0TYCH Yes, but they are basically saying that Poland is a poor country with their comment, and it clearly isn't. Several countries were considered developed but had GDP's per capita PPP lower than that.
0:40 Estland, Lettland and Litauen were reported having good economies and development over the past 20 years, so how they ended up in the mix with russia in the red corner buffles me a bit.
Those countries were soviet satelite states. These were separate countries forced to live under USSR"s commands but they had their own land, flags, anthem, borders and political leaders, They were not sovet republics because countres like Romania, Poland, Hungary have never been a part of a country called USSR unlike Latvia, Lithuaia, Estonia, Ukraine of Georgia. @@kinngrimm
@EconomicsExplained Why does the map of China at 8:45 show Kyrgyzstan and Tajikistan as part of China? Was this an oversight or does someone assert these countries are part of China?
My impression of Poland since the Iron Curtain came down is that they are a quality nation, good people, low corruption, hard working, and a general desire to do good. Congratulations to Poland for finally showing the world their true potential!
We In Poland have a saying "Jeśli nie wiadomo o co chodzi to chodzi o pieniądze" Which roughly says: when you don't know what it's about then it's about the money
Exactly for work and income. Despite the rosy view of this video - millions of Poles are elsewhere in the EU for work not retirement or better weather or any other thing that other wealthy Europeans go for.
Situation on ua refugees is quite the contrary. Poland cut wellfare pretty quickly and once situation in Ukraine become more stable a lot of people, have returned. Now Ukrainians in Poland are paying more taxes, then was used to support refugees. There are some people unhappy about a lot of Ukrainians moving in - mostly due to rising rent and property prices, but overall cultural difference is small and Ukraininas working hard and learning the language to blend in.
Your statement is not completely accurate, the estimated income from the Ukrainian refugees/migrants income tax was around $3 billion USD at its peak. You can add the benefits of them paying VAT and partially spending this into the local economy minus the major component of remittances etc however the total ultra conservative direct support costs of economic aid and military aid significantly exceeded $33 billion USD. This doesn't include a huge amount of indirect support costs. The government hasn't cut welfare at all, it's planning to 'scale it down' according to the government spokesperson with no timescale. I can provide sources for the numbers and statements if you'd like. Alternatively I'd advise you research this yourself independently. Therefore, I disagree with what you've written
@@masketkiller101 I'm one of the refugees. As far as I know, the only welfare remaining for Ukrainians is the one for families with children. The only one offered to me as a single adult with no kids was 200 PLN upon arrival (didn't take it, I don't need it). There was another program in which the state paid the Poles to provide housing and food to Ukrainians (30 PLN a day, iirc), but a few months later they only kept it for families and pregnant women. Another one that's still around is 500+, on same conditions as it is for the Poles: 500 PLN per kid a month. I'm most grateful that Poland simplified our employment to the extreme so I don't have to drain more resources from my neighbours.
i'm not an economist, or even a particularly smart person, but i sincerely fail to see, how running a 12 hours a day six days a week sweatshops with next-to-free labour from ukrainian and belarusian migrants can not give one ridiculous profits.
Hate on ukrainians comes from history and hate spreading by polish right wingers and populists. And some issues with their society. But most of ukrainians are normal working people, that learn and communicate after some time, just work to get better life. Sad truth is, Ukraine is corrupted backward country with oligarchy and divisions in society. Ukraine, even after war ends, will have huge problem to get most of that people back. I work with a lot of ukrainians and most of them who work, study or have kids in polish schools don't want to come back anymore. Of course Im sure it's not like that for everyone but I speak for hundreds of people's and families. Of course not everything is as beautiful. Amount of alcohol abuse even among young, driving under influence, showing up drunk to work, it's way more common compared to polish standards. Corruption also is rooted to the point that some complain that it's impossible to bribe a doctor to get faster appointment ect. Also their right wingers are problem who hate basically everyone, including polish people (even when they live here), racism, homophobia, hate for russian speaking Ukrainians is really common and I guess it's way closer to Russian mindset than polish. As people they are as normal as every other European, as society they need to work on responsibility, team game and crashing that divisions they create. I wish them all good otherwise.
It's a very informative clip and I like it a lot, but hasn't Poland recently entered the top 20 global economies, following the trouble that Turkey has been experiencing recently? Calling it "not a rich and advanced economy" in this context seems a bit inaccurate. Unless what we consider "rich" is well above the 90th percentile.
In my opinion as an avarage citizen of this country, the lack of higher class is a great asset for us, because we've been able to create more egalitarian society where everyone can feel equal with the same possibilities. There's no excluded citizens, if you can work hard, you have the same opportunities like others. Love from Poland
@@agnieszkaszklarz3833 Yes... I would know because I am also Polish. Not having a nobility class is a very good thing. I generally don't mind billionaires if they provide a good service, but if they don't have to pay taxes like Royalty in certain other countries, that's not a good thing.
Could you generally include a date when the country is listed in the EE National Leader board? This would help put the nomination in perspective with current political and economical events.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
Get The Ultimate Guide for Using ChatGPT at Work: clickhubspot.com/run
8:48 Could you please reupload this video with fixed map or do something else to repair your mistake? Sorry, but it's just awful to look how wrong outline of China is (And Sudan and Kosovo actually).
@economicsexplained You might want to remove the link to the Hubspot ChatGPT guide. It’s really terribly written and full of misleading info. Whoever signed off on publishing that did not understand the platform or capabilities. The author relied too heavily on generative AI, and they got hallucinations in response.
Despite Polish politics being bit shizo (it take some time Western investors realize that they should ignore political drama). Poland actually did have decent economists and academics. It is why Poland actually is a meritocracy, where legislature is voted after preparation according to legislative office (experts). Furthermore we need remember that Poland WAS a successful free market economy prior to WW2. And as such many people who actually know hoe capitalism work, were here. Just not officially for obvious reasons. It is why Poland has shockingly docent banking system. Which is why it was not affected by economic crisis of 2008.
Would love to see an analysis of Portugal on this channel.
@@TheRezro I'm not sure that Polish politics is any more 'shitzo' than any other part of Europe!
I'd be interested to learn how many Polish people have actually returned there. Here in UK my Polish friends are, well, still here!
Poand has never been "soviet republic" because it has never been a part of a country called USSR unlike Latvia, Lithuania, Estonia, Ukraine, Belarus or Georgia. Poland was soviet satelite state just like East Germany or Chechoslovakia. Forced to live under Moscow's commands but still a separate country with its own land, borders, flags, anthem, political leaders.
From economic perspective it make no difference. Nothing on shells and corruption, if you want something better/new you had to know people to get (not stricte give them money, but they would give limited stock to people they know, so they would get similar treatment)
Economic perspective is not the only one. I write it as a Pole. Calling us "sovet republic" is pure ignorance and an insult. It does matter to us. @@m_sedziwoj
@@m_sedziwojthe economic difference is important as well. The USSR was richer, had a different currency, different economic model, particularly in agriculture, but also in industry, where USSR had much more centralized and monopolized heavy industry, so it was more difficult to kick start capitalistic competition. Poland was effectively the USSR's colony. Or one could argue USSR's republics were a more integrated layer of colonies of Russia proper, while other Eastern Block countries were the outer ring of colonies.
This is the kind of proof reading and checking they should be doing at the research stage. Quick search = Poland was not a Soviet Republic.
I thought they stated that at the start. Did they contradict themselves later on?
Poland is an amazing country! Just discovered this in my first visit this year. I love Poland and it's people! 🇵🇱
I respect Polish people. They don't want terrorism, drugs and knife crime in their country. They are trying to stop their cities from turning into third world sht oles
Everyone can be racist, but racism should be in moderation, not going after you just because you want to see their f country and see historical sites,i didn't fly for 10 hrs to beg for your money, I came to spend money in your shitty economy.
I have split feelings, i work with a lot of poles and they are all some of my absolute favorite people with their no bullshit attitude and dry humor but I have also been there a few times and the number of flat-out rude and unfriendly people I have encountered was also a bit shocking.
@@travisfubu9053Poland wants a nation with polish people. You are very ignorant and stupid if you call them racists, just study the history of Poland. They have every right to be careful about immigrants and foreigners they don’t know. And if you watch what happens in Germany, France and UK you will see Poland did everything right.
You must love racists
One mistake: Poland is not a former soviet state, it was in the eastern block, but not the part of the soviet union like the Baltics, Ukraine etc.
It was said that Poland hasn't adopted Euro yet, like these former soviet states (Latvia, Lithuania and Estonia), but not that Poland was a soviet state.
Who put it in "eastern block"?
Poland was occupied by russian gangrene thanks to Roosvelt and Churchill. Poles hate commies gangrene... Well, most of them because there are a lot of leftist lovers (the ones who tells you "there's no democracy and freedom" in Poland)
@@krisfekete4940: 7:58
Bloc, not block. The French spelling is because of … history , I guess.
also 0:35
We’ve tried to make Poland Germany a few different times and it never ends that well 🤷♂️
We meaning whom, and how exactly? and no we Poles ain't interested in becoming Germany nor did we ever were or tried.
Germany had totally diffrent economic model, focusing heavy on car industry, cheap Russian gas and it is vastly pumped above it's weight with that EU domination that secured them monopol on exports and preferential treatments from EU bodies for years.
XD
@@zawiszaczarny7876its a joke…
@@zawiszaczarny7876 I think Germany is rich because it exports a lot, while currency appreciation is kept in check by other less export-heavy EU economies that also use the Euro. Exporting a lot means they get rich, and they definitely benefit a lot from being part of the EU. But I think the EU benefits as well.
@@zawiszaczarny7876 this was a historical joke based on the number of times Germany and pre-unification-german states have invaded and controlled Poland, especially the Second World War.
I've been reading about the growing economy of Poland, and it's fascinating how they've been flourishing in recent years.
Indeed, Poland has shown remarkable resilience and growth, especially when you compare it to the challenges faced by Russia's economy.
It's clear that Poland has established itself as a robust player in the European economy. I wonder if there are opportunities for American investors and businesses to benefit from this growth.
Well, I recently came across Loren Lena Walker, a financial advisor who specializes in international investments and market opportunities. She might be the right person to guide Americans in exploring Poland's economic potential.
That's great to know. Poland's economy seems like a promising avenue for diversification.
Absolutely. Diversifying investments and looking for opportunities in emerging markets like Poland can be a prudent move.
I am rooting for Poland to succeed, love polish people. Greetings from Romania !
Dziękuję w imieniu wszystkich Polakow za pozdrowienia, Polska ma teraz ciezkie czasy, Polonia z wlaszcza Niemiecka glosowala w wyborach na Tuska i mlode dziewczyny ktore nie znają polityki, Tysk moze rządzić, to bedzie tragedia dla Polski, a unia wymusza na wszystkich mniejszych panstwach, lamie wszelkie prawa unijne, zesmy wpadli w nie samowite bagno, obejrzyj jaka jest faktycznie unia, to diabel wcielony,,, FIRMA KTÓREJ PRACOWNICY BLAGAJA O POMOC,,?
:)
We are rooting for Romania to succeed too. Respect from Poland
@@ThomasJ.StonewallJackson Backstabbing your Hungarian brothers ? xD
Thank brothers ❤We’re rooting For you too! Actually i just watched a Polish video on YT talking about Romania 🇷🇴 and how it’s on its on the positive path to outgrow Poland.
Poland is home to Andrzej Sapkowski and CD Projekt Red, the legendary creative team responsible for the video game *The Witcher*, and the book series that inspired it.
Amazing books. It's a shame the TV show wasn't true to the source material. Don't even get me started on Blood Origin...
@@EconomicsExplained you should play the games also. They are amazing. Only thing that disappoint is Netflix series.
Cyberpunk 2077 - Phantom Liberty.
I must say: one of the Best PC games ever (story, characters, music!!, graphics, animations...). After Update 2.0.
@@EconomicsExplained You can always watch older Polish tv show. When it was released I thought it was poor thing, but comparing to Netflix s..t it`s still pretty cool.
@@bullet1544 Playing the game again with Phantom Liberty and I have to say, the game is breathtaking now
The only thing I missed in terms of econmy is Poland's rising power in the IT industry and more broadly, services.
I don't know. The share of Services in the GDP is rather stable in Poland. Also the aging population hasn't been mentioned
I didn’t take this video as positive view on Polands success, rather how fragile it is and that it won’t last. Almost as if the author didn’t believe in this success and maybe is slightly irritated by it? 🤔
@@AnonimoslawAnonimowy It is stable but it is a far more important than produce which was broadly talked about
the question is if it will last longer than we think - if you will take under consideration rapidly growing salaries in the IT services and the fact the vast majority of the clients are not national, but outside you can get into the conclusion it can be replaced sooner or later by similarly educated professionals in Bulgaria or Romania. A lot of major international companies outsourced the work to Poland but money always wins so some roles will be exported to cheaper locations for sure.
My best friend in primary school was Polish- hence why for Poland there is a special place in my heart. I wish Poland the best of luck for the future and hope they'll be able to prosper. Love from Pakistan ❤
Ok but stay in your country and improve it rather than flooding Europe and making women uneasy.
@@manfreds.6384 I didn't live in Poland nor am I someone who violates laws.
@@sarahhaaniaxoxoHaha - your best friend may have been decent but that first response is more typical of Poles.
@@vmoses1979 If you say so
@@vmoses1979 I highly doubt that guy is Polish lol
Probably German or British
If any country deserves a break, it's Poland. Good on them for doing so well.
If any country deserves a break, its Russia. Good on them for constantly not giving into being taken over by either Nationalist french, Nazi Germans, or Imperialist americans.
Considering it exists at all, manages to have an economy, is in the top third of the world by gdp per capita, has a national identity, language, culture, history, and heck, HAS A BORDER LOL its doing pretty well.
No, that's Cuba. And Palestine.
After this week election we will know how it will be :)
@@ArawnOfAnnwn Definitely not Palestine
🇵🇱🏆
Poland is quickly becoming very attractive for tech. If they keep this up, you could see Poland outshine traditional powerhouses in 30 years (or sooner).
30 years is a long time. I think we will see big changes a long time before that!
@@EconomicsExplained It has already become a hub of innovation and R&D for many world-leading companies like Samsung, Schneider, Nielsen, P&G, Accenture, General Electric, Goldman Sachs, T-Mobile, EY and many more
@@EconomicsExplained 别夹带私货
@@EconomicsExplained just imagine poland a million years from now ...
@@jianjunwang6385 Why not? Crime rates in Poland are extremely low.
I will never understand why Economics Explained keeps using the same map that includes Tajikistan and Kyrgyzstan as part of China 8:47
Sometimes I think big channels like this include small errors so it encourages people to comment and boost engagement.
He knows something, we dont. Probably economists actually can predict the future.
@@EliteInsider Lol and I played right into then
@@J-IFWBREconomists can't predict anything, they're guessing at best.
Because he made this video in 2034.
2:08 Poland has been invaded so many times, you know something's changed when someone is confident saying that the chances of Poland being invaded are "extremely slim"
Actually we did do a video on this recently! I hope you find it interesting: ruclips.net/video/WU4cPNC_JFE/видео.htmlsi=Txabua1kHtKNyq-r
yeah I was like huh? Didn't Putin said the war will only stop if the Soviet Flag flies over the Reichstag in Berlin again? Poland is kind of in the way between Moscow and Berlin last time I checked
@@gareonconley1956 well Poland is part of strongest military alliance world ever saw and Polish military now is 3rd strongest in europe just after russia and France. but Polish military is top modern.
If 20 years ago someone told me that Poland will be a higher ranked economy thatn UK, Finland or Canada, Id call the police.
And it isn't
It will be
It still won't for a number of reasons, one of which is it's population decline
@@Lando-kx6sopopulation decline is problem in whole Europe now
@@Lando-kx6soPeople like to act as if most developed nations aren't experiencing a population decline and only focus their attention on countries that don't accept illegal immigration like Poland and Japan.
Poland is a good example for all of Eastern Europe. Hope they continue on the same path. Please do a video on Romania as well.
Estonia is a good example for Eastern Europe, Poland is absolutely average when compared to other ex-Soviet satellite states. Heck, even countries that were a part of Soviet Union - Lithuania, Latvia and Estonia all have higher GDP per capita than Poland
The only Eastern European countries that are significantly behind Poland are Russia, Belarus, Ukraine and Moldova, as all are victims of current Kremlin politics.
Yeah this video is literally clickbait. Poland had been the "toilet cleaners" of west europe and any economic growth they had was thanks to EU grants, which every other eastern european country received, and usually invested better (Baltic countries, Romania in the past few years, Checzia). The main reason Poland is "famous" is because she is constantly squabbling with Germany, so their populist conservative party can stay in power.
@@SirNyanPanda That's becouse Poland has more people than them comparing GPD per capita is hard becouse of the population each country has
It isn't. Poland is in Central Europe. Same and Czechia and Slovakia.
Poland's borders were changed post WW2. The eastern portion of Poland were stolen and it was given a slice of eastern Germany by the USSR. Poland is historically known as Eastern European. It is a slavic state.
I think the biggest improvement after joining EU was infrastructure investemnt. Back in the 90s both railways and regular roads were in dire state, unable to acommodate the increasing economic activity. No highways, almost no express roads, local roads with holes bigger than the budget hole left by minister Bauc.
EU invested massive amount of money over the first decade of membership into these areas which made Poland being attractive for any serious business.
Indeed. I remember when they first opened the metro in Warsaw around 1995 I believe. It was a huge deal! No more taking buses down streets with massive potholes lol. Haven't been back since 2000 so it was nice to see the progress in this video.
@@thatguychris5654 Oh, it changed a LOT! I sometimes don't rozognione it.
"I think the biggest improvement after joining EU was infrastructure investemnt."
So, that was still the effect of joining the EU. Most likely, the majority of those infrastructure investments wouldn't happen without the EU. And the EU didn't pay 100% of the price, but the money was a huge driving force that those projects happened in the first place (because from the perspective of Poland, many expensive projects became much cheaper, while still offering a great net return).
@@thatguychris5654There are two metro lines now. Second one goes from Bemowo to Targówek.
It seems improving infrastructure for new members has been one of the success stories of the EU. Spain is the obvious case study, which now has some of the best roads and railways in Europe. Ireland is similar, and I'm sure there must be others.
You should do a video on Estonia. Very similar history to Poland, but punching above its weight and (arguably) a leader in certain fields.
Yes, I really want to see Estonia included!
Estonia and Slovenia have done by far the best out of all post-socialist states. They definitely deserve praise, especially estonia since it was part of the soviet union and is farther away from western europe
这不是做梦吗
Estonia is a province not a country 😂
The population of Estonia is comparable to the population of Warsaw alone. The size of Estonia is smaller than the Masovian Voivodeship in Poland. I think that comparisons do not make sense, because the differences are too great, the challenges are different, the scale of activities is different. The Polish economy is not only much, much larger, but also much more complex and diverse. Regardless, it is definitely worth watching a film about Estonia or Slovenia.
8:00 Not a Soviet republic but a post-communist/ex-eastern bloc country
8:45 No! Bad China! You can't have Kyrgystan and Tajikstan!
China doesn't claim sovereignty over those countries/regions do they?
Probably a visual typo.
@@siraaron4462 not yet :P
你在发什么疯
Poland has no interest in becoming the second Germany because there is only one Poland. We want our citizens to live in peace and prosperity in safe Europe. Also, Poland is not a miracle but a result of sacrifice and hard work of its citizens. Poland has 40 millions of people today.
Exactly
yes it has, we are trying our best to catch up with EU greatest economies in Germany and France, then keep up and potentially someday overcome to be the new leader. Sky is the limit, capitalism is a blessing and Poles are highly educated and hard working people, now speaking fluently foreign languages.
Poland is a result of Russia putting this country on the map and German sponsored EU funds. American lapdog poland bites the hand that's feeding it as usual.
@@CJBillJrIt’a a wrong way of thinking. You don’t become the leader by simply catching up and becoming like the ones that are in front of you. You need to learn from their mistakes never commit them, find your own way to succeed and create a completely new quality.
Love Poland from Romania! ❤
Hi Romania🇵🇱❤️🇷🇴 from Warsaw
Back at You from Warszawa my friends! :)))we both will get there sooner or later. :))))
The fact Poland never adopted Euro as official currency and still keeps Zloty is a 10000IQ move. While it comes with some drawbacks, not having a currency that's value is tied to like 40 other countries is an extreme economical advantage.
Especially when the eurozone countries have huge debts (91% of GDP on average).
@@RandomGuy-lu1enso is having a left leaning one because typically both sides of the political spectrum are economically illiterate
Note: economically literate people support freer markets
@@RandomGuy-lu1enwhat makes their government "far right"
Greece joining euro was minus 10000 IQ move.
@@RandomGuy-lu1entell that to Singapore, the world's most developed country.
Its strange that ukraine is and was ridiculously far behind poland or any other slavic states in per capita gdp, including russia.
Very smart move of Poland to just have people compete against state enterprises. I'm thoroughly impressed.
A smart move indeed. Frankly the services offered by the state enterprises in the 90s and early 2000s were so bad that people craved for alternatives.
Ukrain was also the state with the most....pocked-transactions....per unit of buerocrat. For real, it was even worse than russia and albania.
A great part of their economic success is due to the European Union pouring millions of Euros to put Poland's infrastructure up to speed, but of course Poles like to say it's all their own credit. Having said that, they managed to get rid of corruption, something that is still haunting other ex-soviet countries
@@rhs5683 and source on that?
@@jolly-rancher his backside probably
finally a Poland episode ⬜🟥
I like this video, Poland has many things in common with Czech Republic (country were I live). It would be interesting to compare these two. I looked to historic chart of GDP in both countries and I see a more "sustainable" growth rate in Poland than in Czech Republic although we are a bit richer then they are on average. It seems like Polish have a brighter future than we (Czech) can expect despite the borders with Ukraine.
没有实体经济和重工业，靠做梦就能变成希特勒吗
Poland + Czech R. + Slovakia = 12th biggest Economy in the world . We should have created union , even before World war II shouldve done it .
@@patrykkazmierczak8384have you heard about the European union?
I go to Czechia often and from street level, Czech towns and villages are almost Western Europe level. Poland is 5-10 years behind Czechia (also in GDP per capita), but the gap is closing.
Byłem wiele razy w Czechach i wyglafaja one znacznie biedniej niz Polska, zwlaszcza wioski, domy i infrastruktura jest o wiele gorsza niz w Polsce. Niestety małe Czechy zawsze mialy kompleksy i traktowaly Polske jak Rosję lub gorzej... Nie ma co porownywać Polske z Czechami. Potencjał gospodarczy Polski jest kilka razy wyższy niż Czech. Poza tym Czesi ze swym kompleksem malego, nieznaczącego państwa są zabawni... 10 lat temu Czechy nie rożniły się od Polski w ogóle..
7:55 - 8:05 Poland never belonged to the Soviet Union. Indeed, during the Cold War, the government in Warsaw was fully dependent on Moscow, but Poland was not part of Soviet state.
Thanks for a great episode. I am actually a Pole and I have an idea for another interesting episode. Within Poland we have quite a big (heated) debate whether we should adopt Euro or not. It would be nice to gain an outside perspective on that matter from a renowned economics channel, since ultimately, whether we will adopt it or not most likely depend on who Poles will vote for in the near future :).
Speaking as an American, currency abandonment should not be a whimsical decision.
Nations like Lebanon have had to abandon the Lira due to intense inflation and unofficially adopt the dollar.
To change domestic currency would suggest there is a serious perceived instability, like we saw in Greece.
Keeping both currencies is also much healthier for the consumer as it allows more forms of exchange, like gold and silver, but still in fiat currency.
For a real life example, Poland avoided much of the financial crisis in 2008, whereas the EU saw losses. This ties back to Greece where it was unable to independently devalue its drachma due to Eurozone ties.
Maintaining fiscal independence outside of Brussels is a benefit for Poland.
Not controlling own currency is suicide. Euro should be never adopted because as a result country will lose economy leveraging power and part of independence. Greece is great example what means not controlling its own currency...
This debate has been pretty much resolved. There is hardly any economic advantage for Poland joining the Eurozone. Politically it's also very dubious as it means assuming responsibility for countries of Southern Europe, which are likely to fall into huge economic problems. I think that all political parties announced that adopting the Euro was not on their agenda, right?
Do Romania next! That would be very interesting.
I'm curious what the current state is of that Romanian town: Glod, that unfortunately became part of the 2006 Borat movie. How have things changed in Glod in 17 years?
Did it bring an influx of tourists? (similar to how Borat increased tourism in Kazakhstan). Has 17 years allowed the town to improve some if its infrastructure?
Include Hungary & Bulgaria which were former Soviet client states along with Romania.
@@2drealms196 I wouldn't say it improved much, although the GDP doubled in the last 16 years. Romania developed quite fast (similar to Poland), but unfortunately the growth has been concentrated in a couple of regions (e.g. Bucharest, Cluj, Timis).
Top G living there puts it at the top of the rankings
@@richardchambers1124 I see you are familiar with the theories developed by economists at Hustlers University
8:45, I see that china decided to annex tajikistan and kyrgyzstan, very bold of them
Great video! Please do Romania as well, I was astonished to learn it was the 19th most complex economy in the world, above many developed countries. Should be interesting to look at. It also has an abundance of strategic resources.
As a Romanian, I'm so proud of Poland and we look up to Poland as our example in Eastern Europe!
If a country can give birth to the genius composer Frédéric Chopin, I don't see why it can't produce more hard working geniuses.
12:50 When speaking about salaries being advantageous, it makes sense to mention taxes. It's better to compare take-home salaries.
It is useles to compare anything when EE uses wrong data. Polish average salary is 1/3 lower than he claims. BTW his political map is wrong too.
@rustix3 why? Before tax is the measure of value for work. Tax gets used to fund public services and is highly variable across nations so it does not compare well when looking at just the economy.
@@freetimefoster I was thinking from the point of view of the random citizen. The author of the video was talking about Polish people moving to work in Germany because of high salaries. And he showed us the average salaries in both countries(I don't know how true those numbers are). But if let's assume the tax is 50% and in Poland it's 10% then the salaries are roughly the same, so after couple of month the Polish people should return to Poland. I exaggerated the numbers, but I think you got my point. I don't see the strong reasoning of Polish people moving to Germany by the numbers provided.
@rustix3 but using hypotheticals if the high tax country offers free public transport, better schools, free university, free top quality health care, better environmental protection etc etc then the tax becomes somewhat irrelevant.
@@freetimefoster In my opinion the people who work, benefit the least from the taxes. Because benefits are aimed at non-working people: retirees, pupils, students, ill people etc. That's why I would think that a young or middle aged person wouldn't count those taxes as benefits, but rather the necessary evil. Anyway its so nice to have such a calm discussion in the internet. I am somehow surprised. Thank you @freetimefoster
I'm polish, no we can't become the next germany, thank you for your time
Could i ask why?
Because we are german-american vasal state colony
because there is only one germany. Thank you for your time
why so negative?
Because German is not our national language. Jenkuyeh
Kinda cool to see my country grow and prosper when it's neighbors know how to respect borders. Hope to see more progress before the next world war.
lots to do after the Germans and Russians spent centuries destroying and genociding Poland and still, Germans own billions in business inside Poland
别做梦了
Except of one neighbour
German/Austrian/EU propaganda is ruining Poland internally and internationally @@AnonimoslawAnonimowy
@@2MinuteHockeyhow?
For me as someone from Czechia (Poland's southwestern neighbour in Central Europe) it is interesting to follow the development of Poland. And even from what ordinary Poles tell me, the country is really successfully rising. Just a decade ago a trip to Poland was like a return to my childhood, grey crumbling houses, crappy infrastructure, you could really feel the poverty in many places. But the country has moved on a lot in the last decade and you can see it in the streets of the towns and villages. Let's see how it develops further. 👍
tak naprawdę Wojciechu nie ma między nami różnicy. W każdym kraju ( nawet twoim :) są obszary biedniejsze i bogatsze. Dekadę temu nie było już ani brzydkiej infrastruktury ani biedy. Jak czytam komentarze z Cech zawsze nie mogę nadziwić się waszej wyższości, a byłam w Czechach nie raz i powiem Ci szczerze, nie wiem skąd ta wyższość.
@@katarzynafiakowska2054 droga Katarzyno, mieszkałem w Czechach 2.5 roku i jest duża gospodarcza i społeczna różnica między tymi krajami. Widać to w statystykach, w płacach i widać to w wyglądzie miast i wiosek. Widać w jakości usług publicznych (służba zdrowia nie do porównania, pociągi...). Czechy stoją na wyższym poziomie. Może nie jest to odległość kosmiczna, ale jest wyraźna. Zdravím z Varšavy
*eastern Europe
@@neznamtija8081 Mapy też chyba nie znasz. Central Europe.
@@katarzynafiakowska2054 Where did you get that "superiority" from Vojtěch's comment? I don't get it at all. Please explain ...
Poland is amazing 🎉and it’s not a miracle, Polish people work hard and smart.
they are not progres :), that's why they can progress :) hahahah
Hard-yes. Smart-no.
that's how you explain it to yourself 😁@@lemaro85
@@lemaro85Fajnie ze się nam przedstawiasz ale nie bądź dla siebie taki surowy🤡
@@Bakambol Same fakty.
Because of all the economic growth there's more people coming into Poland today . The culture also leads to even more wealthier people coming to Poland for tourism or to live
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What a terrible year it is…
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A countries greatest strength is its national character. This cannot be mandated, but is the result of centuries of history. This means some countries will succeed and others fill fail, no matter how much money is pumped into them.
People dosen't understand that GDP has nothing to do with living standarts. Usa is a rich country but somehow no one from europe wants to go there as it was 30 years ago, whem everyone dreamed to go there.
Was looking forward to this Econ of Poland video after you mentioned its coming up in another one. Thanks for making it!!
Actually learned a few things about my country's transition from capitalism
About military build-up: If done well it could be one of the bridges to cross that middle income gap.
Military industry is and always been about bleeding edge of technology over various industries. And Poland is putting a lot of emphasis on building most of the equipment here and technology transfer as opposed to simply buying systems abroad. That could be a breeding ground for more domestic high-tech capabilities
8:48 Just a note: Kyrgyzstan and Tajikistan are painted as China on the map.
12:51 you show average polish salary of 2511 USD, I'd love to see a source of it as based on the latest GUS report average income is 7000 PLN which is around 1600 USD
I wonder the same.
He probably uses ChatGPT for writing his scripts or what 🤦
is $1600 gross or net salary?
@@minunat9 Gross salary.
@@minunat97 485 PLN gross. 5350 PLN net. So with today's exchange rate 1728USD and 1235 USD respectively
The more I learn about Poland the more I feel like they have more things in common with us. From their bumpy history, cities that looks like here back in the early 2000s (I am mentioning this with all the love for my fond childhood memories I had as a 00s kid), and also a writing system that Western Europeans and Americans find it less familiar. (Challenge: not pronouncing Łódź as Lodge but instead Woochi, difficulty impossible) They have a lot of things going for them as my country did 20 years ago, and on top of that they have good milk. Their milk is the newest member of our "best cheapest delicious food hall of fame" since Chilean grapes, Australian beef, and Norwegian mackerels.
It’s closer to Wudj (like ‘fudge’), not Woochi. :)
@@TheRestedOne yea, turns out writing something to spell with unmistakable pronounciation in English is not as easy as I thought...
@@knpark2025we Poles just speak how its wrote, every letter have it own sound and its not changed on demand like english. For ex. "Cool" there is "c" and there is "o" but when its dubble "o" you speak as "u", and you change "c" on "k" when you say it, weird and confusing
说了半天，也不知道你来自哪个国家
Regarding growth: Poland is not only the fastest growing country in Europe but rather in the WORLD (compared to the 25 largest countries by GDP between 1990 and 2020 based on IMF statistics). 1st place goes to China and India achieved bronze medal. Congrats to all :)
Bredzisz
China had fastest growing GDP from 1990 to 2020 (3593%). Poland was second best, but far behind China (857%). In 2023 Poland had fastest growing GDP in the world (3.9%). Now Chinese economy is collapsing so Poland may remain the GDP growth leader for a few more years. Poland is quickly becoming influential European country because Germany and France are in bad shape. German neo-Marxists hope that tomorrow (Sunday, 2023-10-15) Polish neo-Marxists will win Polish elections. The Polish neo-Marxists take money and orders from the German neo-Marxists. All neo-Marxists want to replace Europeans with foreign savages because the savages always vote for the neo-Marxists.
@@polka23dot70看到共产主义的暴行，为什么还有马克思主义分子诞生，这群人跟恐怖分子没区别，没有任何人愿意和他人共享财富，除了寄生虫
When you start from the level of Pakistan or Zimbabwe (see the beginning of the video), *any* growth will be significant, because it's relative.
Ask yourself why Poland is so far behind Czechia and Slovenia in HDI.
@@LMB222 Czechia was not ruined by the WW2. On the contrary, large percentage of Czech population worked in German weapon factories located in Czechia and they enjoyed relative prosperity during the war. Many ethnic Czechs could not speak Czech language, so they spoke German.
If someone thinks that poland can become next germany in quite near future, please live here for few months first
So what's your thought about it?
@@sicilydream that it won't?
@@browl218 ok, but why? Can you motivate your sentence?
@@sicilydream cause I live here and see what these so called experts in economics do to the economy
they wont if germany keeps going forward but that doesnt seems to be the case.
after years of waiting it has happend a Polska video
yes
Finally! Been waiting for this video for a while
Most of Poland's exports to Oceania is saurkraut. It's the best saurkraut in my supermarket, I always buy it.
8:44 Why does the western border of China look strange to me? Like something is a bit off with Kyrgyzstan, Tajikistan and Pakistan. Afghanistan has no land border with China. The map is wrong..
08:48 Map is wrong and includes some central asian countries in China, like Tajikistan and Kyrgyzstan
Would really love to see all the baltic countries have their own video, they are named the baltic tigers for a reason - Would be a insightful deep dive from the economic perspective!
"Baltic Tigers" ceased to be mentioned after 2008
I'm amazed by the deep and accurate understanding of the polish economy :)
Where did Tajikistan and Kyrgyzstan go at 8:46 ?
I've been waiting for this video for a while.
Me too, but kinda dissapointed, whole video is kinda meh average vibes like he couldmt find anything interesting :/
One hidden problem that you haven't talked about and will be a major barrier to Poland "catching up" with France and Germany is the fact that Poland will never have any immigration due to the Polish language being literally the most difficult one in the world, apparently. Polish people will rightfully expect guests to learn Polish, same as anywhere else, only that is an impossible request. Poles already being more conservative than French or even German people, when they see their immigrants not speaking Polish *at all* , they will naturally grow even more resistant to the idea of immigration. This will make the Polish economy plateau much sooner.
8:47 i know this was not the focus of the video but oh god what happened to glorious Tajikistan
Moved from London to krakow were my company ve opened the branche there. Very happy safe homogenous soviety. In london i rent a small flat for 1.5 k £ here for 700 i live in new estate and all my neighbours are guys who work in corporate environment not in Turkish take away. Very vibrant modern city with huge architectural beauty great nightlife. One thing to add - when in poland currency is PLN zł making stats in $ dont show real truth. Earing in poland 2 k $ - 10 k PLN per month u live like on very high standard when in london or geneva or Berlin u have for rent. In poland AV salary now is 7,8 k pln. Easy . Best idea is to try it youtself YT wont tell u the truth just stats from wiki or ocd
A video on the economy of London and New York would be good
You completely skipped polish IT sector. Around 500k high paid and skilled employees, 60k tech companies from around the globe. Poland is one of the leaders of IT outsourcing 😉
To be honest im glad Poland is doing well but at the same time its getting more expensive
This is a natural part of becoming a more advanced economy, but this brings with it certain traps like the middle-income trap I talked about in the video, where the cost of living could rise so much that they lose their competitive advantage for low cost manufacturing.
Yo ,we need bulid a ocasions now ,when things grow u may grown on it 😀
Hello! There's a war going on in Europe!
I suggest you looking into Romania. Apparently we are headed on the same route Poland was in the early 2000s, since we reached the psychological threshold of 1,000 km of motorways in the country. Great video, keep up the good work and consider my suggestion!
That threshold is stupid
@@merzto wut
Thank you for the video about Poland 🥇
Have more children polem
@@blazer9547 what is "polem"?
Poland is much more advanced than one might think. If it weren't for the architecture, you wouldn't know it's post-soviet.
The huge problem you addressed in a video before but you didn't address in this one is, the inequality.
Which Poland speedruns with high efficiency. Trying to keep the low wage workforce going on for as long as it's possible.
With housing prices skyrocketing to german prices, but the wages stalling behind. Renting a home can cost more than a whole wage. If one isn't born in a city, getting there on your own is mathematically impossible. Just to keep labour cost lower, the wages don't grown proportionally to expanses for basic need. putting a huge pressure on the people.
Sure the wages grow by 10%, but if the price of a house jumps by 40% and the food jumps by 20%.
You will still afford less afterwards.
Adult people live in their parents house without a job, or a job that doesn't pay enough to ever leave, but drains their energy too much to escape such situation.
This causes severe inequality and ultimately, economic instability.
That is easier to count GDP than the usual people prosperity. Actually, you have addressed the core problem of the Polish economy. If you rise salaries/wages the owner of the business (huge part of the beneficiaries are not of Polish residence) is not interested in doing business in Poland anymore, because the lower labor cost is the biggest advantage. On the other hand if you keep wages low - people will start to look for other countries because they simply can not feed their families. The bubble in real estate is so pumped that it is very dangerous to bust it, but keep it longer is even more danger. if another 90s are ahead of us it will be very optimistic scenario.
8:45 why are you showing china annexting two other nations?
It would be interesting if Poland or Austria can start to match other nations industry like Spain, Portugal, Italy
I don't think Austria needs to catch up. Traveling to Europe I saw a higher quality of life there than anywhere else
But the gdp per capita of 18K is not real because prices are much lower. The GDP PPP is already above 45K.
$45K per capita PPP may be in Warsaw, but average PPP is close to $30K, although due to higher inflation (about 10%) prices are raising, so PPP may fall. IMO the best year was 2020.
@@PI0TYCH Yes, but they are basically saying that Poland is a poor country with their comment, and it clearly isn't. Several countries were considered developed but had GDP's per capita PPP lower than that.
The computer game industry is actually one of the strongest in the world.
Yep, CD project going strong
@@Cookiekopter hahaha
0:40 Estland, Lettland and Litauen were reported having good economies and development over the past 20 years, so how they ended up in the mix with russia in the red corner buffles me a bit.
looks like he just showed ex-Soviet Union there and it does not mean much else
@@lkrnpk well then how was Slovakia, Tscheia, Hungary, Romänia and Ex-Jugoslavia not in the mix?
they were not part of USSR, just communist countries@@kinngrimm
Those countries were soviet satelite states. These were separate countries forced to live under USSR"s commands but they had their own land, flags, anthem, borders and political leaders, They were not sovet republics because countres like Romania, Poland, Hungary have never been a part of a country called USSR unlike Latvia, Lithuaia, Estonia, Ukraine of Georgia. @@kinngrimm
@EconomicsExplained Why does the map of China at 8:45 show Kyrgyzstan and Tajikistan as part of China? Was this an oversight or does someone assert these countries are part of China?
Very nice! Could you make something similar about Romania?❤
8:47 I am outraged! EE supports China's annexation of Tajikistan and Kyrgyzstan??
Could you put a rank number against entries on the leaderboard? Would help to gauge the relative positions. Thanks mate.
8:05, poland was never a Sowjet Republic
Question. What's up with China at 8:45?
As a polish ive seen videos about praising poland or putting it in bad light but title "fragile miracle" sounds the best
Germany tried making Poland into another Germany in the 40s and it didn't end well.
They had done so many times before that too
Germany had no probem overrunning poland. The issue was russia.
I’d love to see a video on the Philippines, comparable in the reliance on remittances and export of labor
My impression of Poland since the Iron Curtain came down is that they are a quality nation, good people, low corruption, hard working, and a general desire to do good. Congratulations to Poland for finally showing the world their true potential!
If any country deserves a break it is Poland. So much hardship endured and such hard working people. I hope they believe in their success.
8:47 what is that chinese map? Why has it gotten significantly larger on its left side??? When did it consume Kyrgystan and Tajikistan??
Many Poles work in Denmark, which is pretty close. Would be nice to hear something about why they go there to work - maybe a video about Denmark?
I also heard a lot of Poles go to work to Norway and in the past UK.
We In Poland have a saying "Jeśli nie wiadomo o co chodzi to chodzi o pieniądze" Which roughly says: when you don't know what it's about then it's about the money
Are one of those Danes that keep chimping out when a migrant does not have a perfect grasp on your language I keep hearing about?
Exactly for work and income. Despite the rosy view of this video - millions of Poles are elsewhere in the EU for work not retirement or better weather or any other thing that other wealthy Europeans go for.
We do not need a video about obvious stuff.
Do a Czech republic video next?
God bless my Polish Brothers and Sisters in Christ 🙏 Greetings from Germany 🇩🇪❤️🇵🇱
A wiec są jeszcze w Niemczech katolicy😳Niech cię pan Bóg błogosławi przyjacielu🙏
I'm impressed with the choice of footage. Even Bytom made it ;)
Situation on ua refugees is quite the contrary. Poland cut wellfare pretty quickly and once situation in Ukraine become more stable a lot of people, have returned. Now Ukrainians in Poland are paying more taxes, then was used to support refugees. There are some people unhappy about a lot of Ukrainians moving in - mostly due to rising rent and property prices, but overall cultural difference is small and Ukraininas working hard and learning the language to blend in.
Your statement is not completely accurate, the estimated income from the Ukrainian refugees/migrants income tax was around $3 billion USD at its peak. You can add the benefits of them paying VAT and partially spending this into the local economy minus the major component of remittances etc however the total ultra conservative direct support costs of economic aid and military aid significantly exceeded $33 billion USD. This doesn't include a huge amount of indirect support costs. The government hasn't cut welfare at all, it's planning to 'scale it down' according to the government spokesperson with no timescale. I can provide sources for the numbers and statements if you'd like. Alternatively I'd advise you research this yourself independently. Therefore, I disagree with what you've written
Wrong. Welfare for refugees are being provided to this day.
@@masketkiller101 I'm one of the refugees. As far as I know, the only welfare remaining for Ukrainians is the one for families with children. The only one offered to me as a single adult with no kids was 200 PLN upon arrival (didn't take it, I don't need it). There was another program in which the state paid the Poles to provide housing and food to Ukrainians (30 PLN a day, iirc), but a few months later they only kept it for families and pregnant women. Another one that's still around is 500+, on same conditions as it is for the Poles: 500 PLN per kid a month.
I'm most grateful that Poland simplified our employment to the extreme so I don't have to drain more resources from my neighbours.
i'm not an economist, or even a particularly smart person, but i sincerely fail to see, how running a 12 hours a day six days a week sweatshops with next-to-free labour from ukrainian and belarusian migrants can not give one ridiculous profits.
Hate on ukrainians comes from history and hate spreading by polish right wingers and populists. And some issues with their society. But most of ukrainians are normal working people, that learn and communicate after some time, just work to get better life. Sad truth is, Ukraine is corrupted backward country with oligarchy and divisions in society. Ukraine, even after war ends, will have huge problem to get most of that people back. I work with a lot of ukrainians and most of them who work, study or have kids in polish schools don't want to come back anymore. Of course Im sure it's not like that for everyone but I speak for hundreds of people's and families. Of course not everything is as beautiful. Amount of alcohol abuse even among young, driving under influence, showing up drunk to work, it's way more common compared to polish standards. Corruption also is rooted to the point that some complain that it's impossible to bribe a doctor to get faster appointment ect. Also their right wingers are problem who hate basically everyone, including polish people (even when they live here), racism, homophobia, hate for russian speaking Ukrainians is really common and I guess it's way closer to Russian mindset than polish. As people they are as normal as every other European, as society they need to work on responsibility, team game and crashing that divisions they create. I wish them all good otherwise.
I don't want Poland to become the next Germany.
Let Poland be Poland!
It's a very informative clip and I like it a lot, but hasn't Poland recently entered the top 20 global economies, following the trouble that Turkey has been experiencing recently? Calling it "not a rich and advanced economy" in this context seems a bit inaccurate. Unless what we consider "rich" is well above the 90th percentile.
It's worth noting that Poland doesn't have a nobility class like a lot of other countries, so that GDP per capita is a lot more evenly spread out.
In my opinion as an avarage citizen of this country, the lack of higher class is a great asset for us, because we've been able to create more egalitarian society where everyone can feel equal with the same possibilities. There's no excluded citizens, if you can work hard, you have the same opportunities like others. Love from Poland
@@agnieszkaszklarz3833 Yes... I would know because I am also Polish. Not having a nobility class is a very good thing. I generally don't mind billionaires if they provide a good service, but if they don't have to pay taxes like Royalty in certain other countries, that's not a good thing.
I wish I could watch your videos but the way you end sentences grind my gears
Could you generally include a date when the country is listed in the EE National Leader board? This would help put the nomination in perspective with current political and economical events.
Not gonna lie, waited for this one for a looong time
8:45 I thought China will invade Taiwan, not Central Asia. 😊
8:45 why is Tajikistan and Kyrgyzstan owned by china now?
How about Bulgaria? I believe it could be an interesting case study, similar to Poland 15 years ago.
Just stay far from Russia, and everything will be OK. Russia is a cancer for other countries. Cut all business with Russia and grow up.
Is the economic leaderboard available somewhere?