The Force of the Tallinn-Bratislava Process

Europe’s newest members challenge the old by Carl Bildt

In a piece in The Financial Times I have tried to draw attention to the transformation of the European economy that is now driven also by the reform competition after the entry of the new members from Central Europe and the Baltic area.

They represent only 5 % of the economy of the EU, but I would guess that we are soon in a situation where 50 % of business decision in Europe are, the one way or the other, driven or influenced by them.

The competitive pressures are now increasing faster in the European economy than anywhere else in the world. This is a result of the fact that we are affected not only by the accelerating process of globalisation, but also by the profound effects of the enlargement of the integrated European market.

And we are starting to see the results – the manufacturning sector in Europe is changing fast, and it is visibly competitive on the global markets.

One Response to The Force of the Tallinn-Bratislava Process

  1. Sven K skriver:

    As salaries increase due to increase of wealth foreign investors in Eastern Europe are likely to reconsider their options and move to regions with lower or virtually no growth of welfare due to overpopulation, such as Asia.

    A domestic commercial/industrial infrastructure is needed to consolidate progress in former USSR, not only set up by nationalizing but, more important, own skill and entrepreneurship.

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