👉Serbia Economy Report   A Country  torn between China and Europe
Channel: GeoStar TV
Date: 29/03/2020

👉Serbia Economic Report : A Country  torn between China and Europe
The economy of Serbia is a service-based upper-middle-income economy with the tertiary sector accounting for two-thirds of total gross domestic product.
Serbia is a country that went through a lot, from the 90s Yugoslav Wars and related diplomatic and economic sanctions to the massive influx of refugees, Serb but not only, pouring in the impoverished country. Serbia faced directly a NATO military aggression with airstrikes in 1999 on its military, but also civilian infrastructures. With the consecutive abduction of its Kosovo and  Metochia province, its mines, States assets, while 200,000+ new refugees were pouring into Central Serbia and Vojvodina and 100,000 Serbs remained firmly in the U.N controlled Kosovo.
The consequences of this situation and of 18 years of hardcore liberalization of the economy, led under Western patronage against the interests of your daily Serb, and 25 years of ethnic shaming from the western diplomacies and media, are still felt today. But the country is one of the safest in Europe, just behind the Scandinavian countries, Belgrade is one of the safest cities in Europe.


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The  Serbs are passionate, life-loving people. They love life and good living… and like rational life-loving people, they don’t like to work as long or as hard as the Germans do, for example. The Serbs went through 500 years of occupation by Ottomans, then soft communism… and they blame that for their current situation. The Germans lost almost all of their young men and had their country completely flattened in 1945, and it took them 20 years to become the top dog of Europe again. Why? Because they prefer to work than not to work. People say the Marshall Plan was the reason, but we forget that the Marshall plan was essentially just loans that allowed the Germans to rebuild factories and roads, etc.… they still had to actually work 8 hours a day or more in silence to crank out those BMW’s. And make sure they did a great job and made a fantastic car!
Serbia, on the other hand, has (and always has had) dreadful productivity because of the values of its culture. A bit like the Bulgarians. Or Montenegrins, or Croats (but at least these guys have tourism, which is basically free money and proximity to the very rich West so a bit more trade and influence).
Serbia imports more than they export… despite having cheap labor and being right next door to one of the biggest consumer economies in human history (Europe)! Having cheap labor should make them ideal for an export economy with lots of multi-national manufacturing firms setting up there to get cheap labor, but that’s not the case. Serb’s don’t like to work too long, or too hard - so they have a lot of cafe’s (one of the highest number of cafes per capita in Europe) and other services which are dedicated to the art of spending money for leisure, rather than making stuff to sell to others (which is hard and laborious). Think about it - why have so many cafes if the object of the population is to have high output? Sitting around having coffee and talking is not an economically conducive way to spend the finite hours in a day. Working in a factory or office very hard without talking is. When millions of people do this, the ‘economy’ shows its character in higher output and GDP. Economics is not complicated at all when you fully comprehend the basic building blocks, which is what people do every day of their lives.

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