👉Can Poland Really Become The Next Economic Powerhouse of Europe
Channel: GeoStar TV
Date: 2020-03-27

Can Poland Really Become The Next Economic Powerhouse of Europe ?
The Polish economy is the eighth largest economy of the European Union, and it is also the largest among the former Eastern Bloc members of the European Union. Ever since 1990, Poland has followed a policy of economic liberalization, and Poland's economy was the only one in the European Union that managed to avoid a recession through the period of 2007-2008 economic decline. World Bank has classified the Polish economy as a high-income economy.
Nevertheless, besides Poland's economic gigantic take-off, there are other problems that are generating a lot of apprehension in Brussels. Poland keeps a more and more authoritarian trend. The far right, which has entered Poland's Parliament for the first time, is trying to push an illiberal agenda.
And the government tries to control justice, and its molestation of the minorities has set alarm bells ringing all around the EU.
Recent opinion polls have suggested that far-right parties could double their seats in the forthcoming European Elections - and Poland is one country where that movement has become increasingly visible in recent years.

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Poland has 40 million (half of Germany). It has a naturally declining and aging population and also has emigration that further decreases the amount of human capital. It is still poorer than in Western Europe, but it is now Eastern Europe’s richest country. Poland will become poor if it adopts the euro as a currency.
Due to the low wages that Polish companies are paying, lots of Poles are leaving the country. The Polish government welcomed more than a million of Ukrainians who are fine to work for a minimal wage. Ukrainians make the majority of foreigners in Poland.
Poland has made decent progress almost entirely on the back of its gigantic EU subventions that were pumped into its system for the past 14 years. The opening of western borders has also generated an unprecedented exodus, making more than 3 million people leave the country. 
By 2016 Poland had developed into a country with a pretty high standard of life. The roads are generally well developed and are being modernized at an incredible rate. Modern shopping malls and modern city streets everywhere. International companies, everything from IT providers to retail chains, all over. More and more people are speaking English.

Polish GDP per capita peaked in 2008. Further advancement has been hindered by a combination of the economic crisis and the threat of political instability from the East, which has slowed down investment.
Although Poland was the only country in Europe unaffected by the crisis of 2008. There are countries in the post-Soviet block that are performing better, such as the Czech Republic, but there are also ones that are performing much worse, such as Romania and Bulgaria (not to mention Ukraine).
According to the FTSE, a London based financial news service, Poland officially became a developed country.
It is no longer an emerging economy.

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