What Britain forgets_ Romania is booming _ The Economist

There are c ultural differenc es romanians are no as

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Unformatted text preview: hat into ac c ount y ou will s ee how y our numbers s tart c hanging and s ee that the authors are ac tually right 3. There are c ultural differenc es . Romanians are no as prone to borrowing for c ons umer goods as the Britis h are. I lived there for 20 y ears and work ed for 4 y ears on inc ome ranging from 300015000 GBP (15k GBP as purc has ing power goes would be equivalent to 45k -50k GBP in the UK) and I have not even had an overdraft on my ac c ount or a c redit c ard as it is not in our c ulture. Due to is s ues with bank s in he '90 and ec onomic c ris es following '89 protes ts and the downfall of c ommunis m with huge, mos tly ex perimental, reforms people are not trus ting of bank s and financ ial ins titutions in eas tern europe. 4. Your figures are way off due to averaging and uniformity . W here y ou have a c ountry with s mall fluc tuations in inc ome between areas or between urban and rural environments , that is not the c as e for Romania. In Romania only the urban population ac tually tak es part in ec onomy and mark et/trade. The vas t majority of the rural population lives off the land (mos t of them quite well) and only mic ro-trading tak es plac e between farmers in the s ame village. Thes e people do no c are about money or any thing els e we burden ours elves with, they do not emigrate unles s a foreign agenc y c omes to rec ruit them, and they have almos t 0 inc ome ac c ording to the IMF. This is not due to poverty , it is by c hoic e whic h link s bac k to c ulture. Therefore, c reating this average is further from the truth than y ou c an pos s ibly imagine. 5. Do y ou really think that the argument y ou give jus tifies x enophobia, rac is m and mis treatment bas ed on nationality ? Rec ommend 39 Repor t Per malink Reply gue st-sjnoiw i in reply to Tudor A v ram Dec 22nd 2013, 01:22 Firs t of all, I am neither Britis h, nor Romanian; s o this polemic is of purely ac ademic interes t to me. To judge c ountries , I have to rely on res pec table s ourc es of information (lik e IMF etc .) The ans wer to y our 5 points : 1. Apparent...
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