Russia, Belarus and Kazakhstan signed the long-awaited Eurasian Economic Union

[Risto the Great]

Originally Posted by Vangelovski

I doubt it. Russia is just Macedonia but on a larger scale. Corruption, nepotism, state capitalism, authoritarianism...these are its guiding principles. They've been tried and tested and they've failed over and over again. They would have to have their own moral revolution before anything changed and that is as likely to happen there as it is in Macedonia.

China sounds about the same. 20 years ago nobody was talking about the Chinese economic superpower threat!

[Redsun]

Whats wrong with healthy competition?

I cant see why such an "economic powerhouse" could be a problem..?

Fair trade right?

If organizations such as the EU can operate and exist in the form the do, why wouldn't others compete, they would be mad to stay idle and put up a losing fight against such massive economic powers taking advantage of their "created" buying power against other weaker currencies. As these "powers" get larger and consume more countries, competition and trade changes. Currencies can change, power can shift.

Healthy competition through the worlds market. No problem at all.

[Soldier of Macedon]

Originally Posted by Vangelovski

I doubt it. Russia is just Macedonia but on a larger scale. Corruption, nepotism, state capitalism, authoritarianism...these are its guiding principles.

The EU isn't much different, except that they wrap their corruption, nepotism and authoritarianism in a slightly thicker veneer of political correctness. Although pursuing an independent path in the current climate of the West versus the World is difficult, I don't think Macedonia should disregard economic options outside of the EU. I am not trying to excuse Russia's tainted history when it comes to such matters and Macedonia has its own social problems to worry about let alone those of other countries, but if there is something that we can gain from being somehow affiliated (even loosely) with such an economic union, we should explore it at the very least. At least it won't come at the cost of selling our identity.

[Redsun]

Totally Agree. I can’t see what is so special about the EU?

Why allow only one economic union to fester and in time dictate the whole market.

What does the creation of the EU mean for small countries within Europe?

What does the existence of such a massive economic union mean to small countries and under developed countries around the world?

When a single union can dictate the values of commodities around the world due to their sheer size, this would be the end of fair trade and equal opportunity. How could a single country compete?

There is space in this world and the global economy for such healthy competition to exist, there is an empty void… for other economic unions to exist and contribute, this world wasn’t created for just one organization to dominate all trade.

If there is no organization to counter the EU than what choice do we have but to trade at the prices that the EU dictates?

I hope to see further development of this East European Union.

Patience…

Gruevski must be the worst poker player in the world, everyone on the table would be able to see his hand.

What does the EU have to offer Macedonia?

[Vangelovski]

Originally Posted by Risto the Great

China sounds about the same. 20 years ago nobody was talking about the Chinese economic superpower threat!

I don't think China is the economic superpower its made out to be. For the number of people it has, it should be producing 5 times what it is.

Originally Posted by Soldier of Macedon

The EU isn't much different, except that they wrap their corruption, nepotism and authoritarianism in a slightly thicker veneer of political correctness. Although pursuing an independent path in the current climate of the West versus the World is difficult, I don't think Macedonia should disregard economic options outside of the EU. I am not trying to excuse Russia's tainted history when it comes to such matters and Macedonia has its own social problems to worry about let alone those of other countries, but if there is something that we can gain from being somehow affiliated (even loosely) with such an economic union, we should explore it at the very least. At least it won't come at the cost of selling our identity.

I don't think you can compare corruption, nepotism and authoritarianism in the EU with Russia. While it does exist to some degree, these things permeate all aspects of society and the economy in Russia and Eastern Europe. But that's not to say if Macedonia doesn't join a Russian-led economic community it must join the EU.

Macedonia has a network of free trade agreements and boasts access to a market of 650 million customers. That's more than enough to go it alone, so to speak. The problem is corruption, nepotism and a complete lack of the rule of law. I don't think joining a Russian economic union would help it. Neither do I think membership of the EU would help Macedonia either. It just needs to take out the garbage. Until then, no one, inside or out, will be confident in investing their hard earned money.

[Redsun]

Britain, Italy include drugs and sex in GDP
By Melvin Backman @CNNMoney May 30, 2014: 9:29 AM ET

Plenty of money is spent on illegal drugs and prostitution. The United Kingdom and Italy are now calculating how much.

The U.K.'s Office of National Statistics announced Thursday that paying for drugs and sex adds about £10 billion ($16.7 billion) a year to the economy. The British government is now including prostitution and narcotics sales in its official Gross Domestic Product (GDP) statistic. That's the oft-cited measure of how much a country's economy grows or contracts.

http://money.cnn.com/2014/05/29/news...stitution-gdp/


Ninemsn - Italy to include drug and prostitution money in GDP calculations.

ITALY’S statistics agency says estimated revenues from drug trafficking and the sex trade will be used to calculate gross domestic product (GDP) starting next year in a move expected to boost its economic results.

The Istat agency said the calculation would also include revenues from contraband tobacco and alcohol, adding that the procedure would be “very difficult for the obvious reason that these illegal activities are not reported”.

“The concept of what is illegal activity is also open to different interpretations,” Istat said on Thursday in a statement explaining the new method of calculation in accordance with new European Union rules.

http://www.news.com.au/finance/econo...-1226928776821


Is this a healthy system?

[Risto the Great]

Originally Posted by Vangelovski

I don't think China is the economic superpower its made out to be. For the number of people it has, it should be producing 5 times what it is.

I know what you mean.
But it does produce about 90% of everything, and it understands the significance of volume. My dealings with China over the years has seen prices go up and some improvements to marketing strategies. They will get to a Japanese type of model soon enough where they service their own thereafter. Bring on Indonesia.

[Vangelovski]

Originally Posted by Risto the Great

I know what you mean.
But it does produce about 90% of everything, and it understands the significance of volume. My dealings with China over the years has seen prices go up and some improvements to marketing strategies. They will get to a Japanese type of model soon enough where they service their own thereafter. Bring on Indonesia.

Do you think the Chinese can grow their economy beyond a certain limit without liberalising their political system? A few decades back, the Soviet Union was meant to become the most powerful economy in the world...but they had a few defects and Russia inherited them. My feeling is that China wants to have its cake (economic powerhouse) and eat it (totalitarianism). I'm not sure they are compatible.

[George S.]

That's a good question Tom I think china will go the same as japan look at what happened to japan.The wages in china are rising as well,will that mean a virtual western type of capitalist progress for china??It will also mean the same demise as costs etc catch up with china.The economies of scale won't be be there anymore.It won't be viable enough to carry on.Also I noticed that china is also into foreign debt of 6.5 trillion & rising.Remember the Lima Declaration of how we all gave up our industries & factories just so that china etc could produce due to the economies of scale?
As for Macedonia the wages are very cheap otherwise there is too much corruption going on prohibiting investment.Then there is the Macedonian tax system that will hit you hard if you dare make a profit.They just make their rules as they go.

[Pop Alexandra]

What are the import/export implications of these agreements? Will any of the taxes be reduced?
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Alexandra from https://w2c.ca/en/training/