Economics of Social Issues

Dinopoulos (2008) argue that Trade in Poland is dominated by European Union, that is, about sixty percent of Poland’s imports and eighty percent of its exports comes from or goes to member states of European Union. Germany, Poland’s neighboring country, is the most important partner in trade. The trade between Germany and Poland accounts for a quarter of polish trade’s value. Poland imports mostly energy and capital goods that are usually required for industrial retooling and for manufacturing inputs instead of consumption goods. Its major exports on the other hand are cars, furniture, machinery, iron and steel products. Poland is a member of world trade organization and European Union. This therefore has made it to not only trade with nations in European Union but also with other nation around the world. The integration of Poland’s economies with other economies has greatly enhanced the market for trade thus reducing poverty.

Harrison (2007) argues that Globalization has resulted into huge capital inflows in Poland. The capital inflows has resulted into growth and development of the economy and in the long run, increasing investment further. This therefore enhanced incomes in Poland and thus alleviating poverty. Due to its good opportunities for trade and investment, Poland is currently attracting many investors around the globe to venture in different sectors, thus increasing the capital inflows in the country. United States and other international companies do business in Poland due to its strong economic development potential, huge domestic market, tariff-free access to European Union and political stability.

Globalization has resulted into exchange of knowledge and technology among different societies in Poland. Direct foreign investment has brought about not only an enlargement of physical capital stock, but also technical innovation. This is due to the fact that international organization in Poland has resulted into spread of ideas and opinions on methods of production, management practices, export and import markets and economic and international policies. Global warming and globalization of the media has also enhanced awareness of living within an increasingly interconnected globe. Globalization has thus made people in Poland to be aware of what is going on around the world and hopefully, encouraging Poland’s citizen to take action so as to reduce poverty. The positive information brought about by globalization greatly assists in reducing poverty in Poland.

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