Not only theoretical arguments, but also the practical experience of post-socialist transition economies over the past 15 years demonstrate that faster economic growth is attained by those countries which take greater care to foster the institutional reinforcement of market economy. However, progress in market-economy institution building is not in itself sufficient to ensure greater competitiveness of enterprises, rapid economic growth and hence an improvement in living standards. Another indispensable component is an appropriately designed and implemented economic policy. It is not inconceivable that despite the institutional progress, growth rate may slow down precisely because of the deteriorating quality of the policy. This is what happened, for instance, in Poland as a result of the harmful overcooling of the economy towards the end of the previous decade. Thus what matters is not only institutions, but also policy. One should also take into account cultural factors. The key to long-term economic growth is provided by a good coordination between institutional changes and a policy that favors capital formation and optimizes its allocation.
Two centuries ago, Asia delivered over 60 percent of world production; in the middle of the 20th century it was less than 20 percent. Currently, it is twice as large and this share is still increasing, above all but not only, because of China whose production is still growing at a rate twice as fast as the world average. China is trying to maintain high economic dynamics, inter alia, through investment external expansion. This aim is to be served, among others, by the infrastructure project, drawn up with enormous verve, known as the New Silk Road, which the Middle Kingdom addresses to 65 countries on three continents. While some hope for accelerating their own economic growth, others warn against the risk of becoming dependent on China. The article analyzes these challenges, pointing to the desired directions of irreversible evolution globalization by giving it a more inclusive character, which is also strongly emphasized by the Chinese authorities in their official enunciations.
PL
Dwa wieki temu Azja wytwarzała ponad 60 proc. światowej produkcji, a w połowie XX wieku było to poniżej 20 proc. Obecnie jest dwakroć więcej i udział ten nadal rośnie, przede wszystkim, acz nie tylko za sprawą Chin, których produkcja zwiększa się wciąż w tempie dwukrotnie szybszym niż średnia światowa. Chiny starają się utrzymać wysoką dynamikę gospodarczą między innymi poprzez inwestycyjną ekspansję zewnętrzną. Temu między innymi ma służyć nakreślony z ogromnych rozmachem projekt infrastrukturalny znany jako Nowy Jedwabny Szlak, który Państwo Środka adresuje do 65 krajów na trzech kontynentach. O ile jedni pokładają w tym nadzieję na przyspieszenie własnego wzrostu gospodarczego, inni przestrzegają przed ryzykiem uzależnienia się od Chin. Artykuł analizuje te wyzwania, wskazując na pożądane kierunki ewolucji nieodwracalnej globalizację poprzez nadawanie jej bardziej inkluzyjnego charakteru, co mocno akcentują także chińskie władze w swoich oficjalnych enuncjacjach.
Postsocialist transformation must be seen against the background of ongoing globalization. The progress toward institutional changes should be evaluated through the prism of their influence on country's development abilities. In Poland, over eighteen years of comprehensive systemic shift, GDP has increased more than in any other postsocialist country. While judging the transformation progress not only the improvements in competitiveness and growth must be taken into account, but also social and cultural aspects. There have been five distinct periods from the viewpoint of economic growth. Had there been a better policy coordination of systemic change and socio-economic development, GDP growth over the periods considered could have increased by a half more. This opportunity has been missed due to the intermittent implementation of wrong economic policies based on wrong economic theories. Poland has the potential to double her GDP over next ten years. However, despite gains from both globalization and European Union integration, this potential will not be fully exploited due to the overall ineptitude of politics. Poland's transformation can be seen as a success, but only to the extent of two thirds of its potential.
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