Local content: if not now, when
The article discusses Poland's economic success story while questioning its sustainability due to reliance on foreign investments and external decision-making.
The article reflects on Poland's remarkable economic transformation over the past three decades, transitioning from a bankrupt state to one of the largest economies globally. The narrative highlights Poland's successful model of attracting foreign investments, offering competitive costs, and maintaining a relatively stable regulatory environment. However, this growth has often come at a high price; Poland has been a production hub rather than a leader in ownership and strategic decisions.
The author points out that while Poland's growth has benefited from external investments, the country has not significantly developed its own competencies or capabilities. The emphasis on attracting foreign investments has meant that critical strategic decisions affecting the economy were often made by international players rather than local stakeholders. This has raised concerns about the long-term sustainability of such an economic model.
Recent global events, such as the COVID-19 pandemic and the ongoing war in Ukraine, are called into question as they challenge this previously successful model. The pandemic exposed the vulnerabilities of global supply chains, and the war underscored that energy is not merely a commodity but also a tool of political leverage. These changes signal a possible end to the era that underpinned Poland's growth and highlight the urgency of developing a more self-reliant and strategically independent economic framework.