The Economy of Ukraine: Before and After | Economics Explained
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- Опубліковано 2 чер 2022
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This is really garbage starts off like s*** saying Ukraine involuntarily involved when it broke the Minsk agreement
65% of the US knows the stock market is rigged that's why everyone should recognize this is a propaganda page
I would like to know why the Baltic and Warsaw pact states were more successful than Ukraine.
Never trust anyone with hints of elite upper-class British accent and who uses BBC as a source they are surely a spy
MI 6
I am Ukrainian and I agree with almost everything that was said in the video. BUT. It is very important to say that a huge part of the economy (40-50%) is in the shadow. This distorts the statistics very much. For example, I worked 4 jobs and never paid tax on my paycheck in my life. As do most of my friends. I lived in Kyiv and the average salary before the war was just under $1000, with the lowest prices in Europe. Given tax evasion, living standards soared in front of my eyes, especially from 2017 to 2021. GDP has grown from 91 billion in 2015 to almost 200 billion in 2021. If we take into account the shadow economy, then Ukraine is far from the poorest country in Europe. Also it is important to mention the growth of IT sector export from 1.5 billion in 2015 to 7 billion in 2021. Thank you for the video!
Shadow economy is still economy. The goal should be to dismantle the government taxes and make ALL economy 100% tax free and fully "shadow"
True. I was amazed how quality of life and in general lifestyle went up in Kyiv over last few years. After living in Kyiv every city I go now (which are very nice places, don't get me wrong) feels like a downgrade somehow. Everything is more complicated, more expensive and not as fun hahh. Kyiv was a perfect city for me last two years I lived there.
@@ricardokowalski1579 uuuuh, how will we fund our ACTUALLY needed military if we do that? Seems like quite the idealistic proposal
@@ricardokowalski1579 And how would you pay for an expensive modern army to prevent another country from invading? Not to mention infrastructure and education.
@@ricardokowalski1579 ahahah embrace anarchism
Another factor to be considered is most of ukraines industrial areas are now under russian occupation so rebuilding will be that much harder
Biden has a build back better plan. Don't worry, US will loan him to Ukraine for a negative interest rate.
Worst case scenario, the Russians keep the dirt and have to foot that bill. Best case scenario, Russia retreats and Ukraine gets foreign aid and investment.
The war isn’t over from the last time I checked.
Has that been the situation for 30 years?
And ports
As many already mentioned, shadow economy is huge in Ukraine. People receive only a fraction of their salaries officially (under the motto: we dont want to pay taxes for the government to steal), so official statistics are very skewed. Ukraine is still a poor country, but most people earn not less than 500$ a month + home ownership rate is high compared to many EU countries, as a leftover from the Soviet past. So people have cash to spend, which you can immediately see if you visit. Shopping malls/restaurants/entertainment are very well developed here, contrasting the shitty roads/falling apart public infrastructure, which are plagued by corruption.
Let’s see how corruption will be handled during the recovery period, as even the great Zelensky himself has been involved in quite some scandals just before the war.
well, everybody is wrong... shadow economy doesnt matter!!!!... unless you buy food directly from a farmer or car directly from the owner of the car company, the money will pop up in some kind of statistics... pretending that Ukraine is some kind of Switzerland and the only problem is that its in shadows doesnt help anyone...
@@Zoltan1251 The OP literally never said that... what he expressed, is that ppl's *standard of living* is actually higher than some (non-EU) countries of Europe - and even though the GDP/capita is lower than its neighbour Moldova (for example), if you just *visit* the 2 countries (esp in the cities), u'll be able to tell which one is *actually* richer... same thing with Belarus, prob. But ofc it's doing worse than Poland, Slovakia, Hungary & even Romania, I'd say.
Undeclared incomes in countries in development is nothing unusual or new. I'm pretty sure economists know how to account for that.
@@dyawr you are completely twisting statistics again... its not about what you "see"... Kiev is significantly richer because its capital of massive country... go outside and you are in a dump... shadow economy is accounted for in the end, there is no way around it...
@@Zoltan1251 "shadow economy is accounted for in the end, there is no way around it..."
Yes and no. Money made by unofficial means will always partially pop up in official statistics via taxes from purchases of goods and services (mostly), but things like savings and further economic activity in the shadow sector are not accounted for. This is precisely why a thing as "hidden/invisible GDP" is sometimes accounted for when determining the size of an economy.
As a Ukrainian, I want to thank you for the video. I find it to be very accurate and objective. Yes, unfortunately almost all of our attempts to grow quickly were stopped by some crisis. Yes, we have a very high level of corruption that we’ve been trying to eliminate for decades. However, despite all the circumstances the quality of life has been getting better and better by the day and our hopes and love for our country was and is always high :)
I am sure that Ukraine did the right thing by taking on the bully. Yes, it will pain for a while, but once this is over, Russia will not bother Ukraine every few years. The Russia problem will be over for good and Ukraine will be able to peacefully grow.
I hope Zelensky also proves to be a good peacetime leader. He has rocked as a wartime leader
There is no country with no corruption honestly, even the most powerful ones are corrupt.
@@brahm-ahamasmi well what about bullying Russia with UK orchestrated coup ? I am against invasions, but we know what USA UK were trying to do. They want war in some or other part of world. They tried inflicting it in many places.
@@Kathakathan11 I don't know which fantasy land you are living in, but Russia is enormously wrong here and it was wrong in Ukraine since 2014. I am no Ukraine fan, but the Russian stupidity is so huge, it is making me ashamed of the historical Indo-Russian friendship.
नादान दोस्त से दाना दुश्मन बेहतर है (A wise enemy in every aspect is better than a foolish friend.)
No one gained from this war WHICH RUSSIA STARTED. The biggest loss from the war is of Russia. It today stands exposed, naked. The façade wrapping it as a superpower is torn. It has lost 200,000 young men and will lose more. That compounded over their life times and its social implications is trillions of dollars. It has lost all its good smart friends (including India, mark it, India will never buy any Russian defense product in future). It has cornered itself to be part of axis of evil with Pakistan, Iran, North Korea and China as its future allies. Russia is dead, just awaits its burial.
Ukraine has lost enormously as well, but that it is going to survive is a miracle and it will most probably rise like a phoenix once the war is over.
Most interestingly the whole world lost hugely due to this war. Economies are struggling, people are struggling. Nevertheless I see a silver lining to all this though. Sometimes events like these are needed for a reset in legacy relationships. This war will help India dump Russia and join the Western block much faster. Otherwise it would have taken longer.
@@brahm-ahamasmi the war was bound to happen, Ukraine had American military as private mercenaries here. You can be ashamed, it’s your choice actually. Truth is, war was instigated from American side. Which stupid population accepts COMEDIAN, who dances half naked on stages, as a president? The people chose their fate. They chose their destruction.
I love it how compassionate and empathetic you were without compromising your ability to show us the harsh reality of Ukrainian economy. I come from a formerly-communist state myself, and I'm painfully aware of how detrimental an impact the Soviet-style corruption might have on any economy. Keep up the good work!!!
corruption drastically increased after the dissolution of the soviet union and the return of capitalism
Know the honorable people of America, Europe and the world, and be aware that Barack Obama, Hillary Clinton, Nancy Pelosi, the greedy and treacherous Jubaiden, and the leaders of the corrupt Democrats Jane and Russia, with the help of European leaders, have transformed America from the world's superpower to the world's ugliest. With the support of the treacherous Democrats, the spies and swindlers of China and Russia sell so much oil dollars and bribes to China and Russia from China and Russia, like Ukraine, because of the corruption of the ruthless Jubaiden and the treacherous Democrats, the spies and Hunter Biden were exposed in Ukraine. To sell Ukraine and Kazakhstan and most European countries to Russia and China and Russia and Putin Terrorist Terrorist Greetings to President Donald Trump glorifies the most zealous president in the history of America and America Long live Donald Trump zealously stigma and death and shame Beware of turning the most ruthless president in American and American history from a world superpower to the world's most ruthless country with the support of treacherous spying Democrats
ehh Poland were just butthurt because being under orthodox country, this is biggest humiliation Poland can get, could bear most extreme communism, just don't take my catholicism.
Soviet style corruption? Lol
As opposed to American British French Etc etc corruption?
@@nomorewar4189 Yes, exactly! Soviet-style corruption stems from the need to get basic necessities - toilet paper, a washing mashine, silverware, meat... With super-limited supplies, you had to resort to bribery, which lead to a wide acceptance of corruption as a means of surviving. This is why it's so difficult to weed out.
All my life in school and university I was told that Ukraine has big potential. We have plenty of natural resources, good location and hard working people, but still we are the poorest country in Europe. Corruption is a really big problem in my country. Even if we win the war without any "compromises" many of our plants, roads and infrastructure are destroyed. Our future is uncertain but obviously it will not be easy.
After the war all you will be left with is a landlocked rump state in the West that still will not be allowed to join NATO and the EU. Zelenski has destroyed your country.
Like all countries in Europe they used from usa, no country can do what he like inside his territory…. Even food, weapons, energy , you need first to allowed from usa….
@@Spiror nah, USA just gives us weapons and security, which are necessary considering how agressive and warmongering our neighbours in Moscow are (I'm from Poland, not Ukraine btw)
@@starhalv2427 i hope you are right cause iam greek and turkey like some islands lol, if they protect us nice if not ??? Lol
@@Spiror you're wrong. Both Greece and Turkey are NATO members, so they must not only respect their borders, but also cooperate to defend one another. If Turkey wanted to annex Greek islands, they would've either stopped Greece from joining NATO, or left NATO and sided with either Russia or China.
Zelensky: “An anti-corruption champion”
Also Zelensky: *incarcerates all his political opponents
Bruh
Banning pro Russian parties during a Russian invasion doesn't seem like an awful idea.
Also most of his political opponents:
*collaborating with the enemy*
*is in Moscow begging the Kreml to bomb Lviv*
I wonder why the collaborators of the enemy is eliminated from the legislative bodies :(
@Aditya Chavarkar You can deny it all you want, facts won't change. But collaborators will be punished, and all you can do about it is coping.
To be fair, most of those opponents are incredibly corrupt. He's just doing his job really.
@@TheRedKing247 Everybody is corrupt there, including the prez. Removing corrupt opposition may sound nice, but in the end it just leaves fever corrupt people with more power. The past 30 years have not been a struggle between different groups with their own idealism, rather those groups were used in a sort of oligarch war.
i like that you use year 2014 for a year of start of the war, and not 2022
As ukrainian I wouldn't say that life for usual people was getting worse after 2014 on a contrary people were creating new businesses and cities were rapidly building up. I don't expect gold to fall after the end of the war, but I hope that economic crisis won't hit people so much.
And thanks for a great video btw
@The Man from Toronto 🅥 ha, good try to rick roll me😂😂
@@andrewaswang You don't mean to say that russians were the ones forcing Ukrainian politicians to steal and conduct shady deals with Ukrainian oligarchs, do you?
@@andrewaswang yeah, our parliament even passed some reforms, but we have to do a lot more
Russian troll spotted. Keep clear and don't touch -- even with a ten-foot pole. Nevermind, their replies seem to disappear.
@@maksymmarczenko3554 Ukraine has a bright future ahead -- as soon as Russia gets beaten back.
There won't be any winners here-
American mil industrial complex: what about us?
China?
"Military industrial complex" is one of those phrases that people use when they want to sound clever without having to actually think about things.
(And no, I'm not saying the MIC doesn't exist - obviously it does. But if you're attempting to shoehorn the notion onto this particular conflict then you're totally misinterpreting what is going on.)
@@dice3809 they get cheap gas now and don't have to worry about American navy threatening their energy supply. Is that what you are talking about?
@@arceusthomas2447 I think so. Doesn't matter the outcome, China was already a bigger partner for Russia here. They just need the remaining Russian military know-how (for example, China is still using Russian engines in their jets) and then the only thing that Russia can offer them is gas and oil. Chinese will be buying it from them for nickels.
The US government has just announced a $40 billion aid package for the American military industrial complex.
As both Ukrainian and an economist I should agree with most points made in the video. I should state though that starting from 2017 the significant progress was made in terms of development and digitalization. Banking system in Ukraine is way better than in Europe or the US, most of the documents (covid certificate, national id, drivers licence) are available in the app, you may register your business in the app, pay taxes there, etc. This eliminated lots of small corruption schemes.
From the macro perspective, despite being a largely agricultural country, agriculture has become very intensive, the crop yields were exceptionally high and the entire supply chain for agricultural exports was incredibly efficient. Now, this all is gone and it's gonna take at least 5 years with huge investment to recover to the end of 2021 level
Ukraine is a corrupt country. Zelensky was hiding money in fiscal paradises before his election (Paradise Papers). He has made 800 millions so far as president on a yearly salary of 12 500 $. Nothing more to say.
I would say that digitalisation of Ukrainian banks are better than in Europe or USA, but Ukrainian banking system is way worse and behind of USA and EU in terms of stability and trustworthiness. Just because you have fancy mobile app, doesn’t mean it’s better.
In my banking I worry more for safety of my money than prettiness of app.
On top of that in the UK you can enjoy free money transfers and cash withdrawals for all banks, which is again worth more than the app.
Sound like India. Digitisation here is also better than Europe thanks to UPI. And we are also an agricultural economy with great IT sector. We also get almost all our certificates digitally.
@@oxyht yeah, I have Indian friends here and they tell me the same. Digitalisation is great, but they still try to hold money in Europe for safety.
@@Nastasiati it is not about prettiness, but about eliminating bureaucracy, bank account can be opened within 30 minutes without leaving home and you actually can use it right away (with apple pay and other stuff you even don't need physical card). I have registered my business on 1st of January and was able to start working officially on 4th even in a week of state holidays. However I completely agree that safety of money can be considered moderate at best here, I personally lived through 2 revolutions and this now and I'm only in my twenties)
In short most of administrative services can be accessed without leaving home 🏡 with your phone or PC with was unimaginable 4 years ago, and when you have to 🚶♂️ 90% of information is already in system, no package of papers involved 😉
I'm nowhere near an economist, I write software for a living and as a general rule the only interaction with money I have is earning it, spending it and having it taxed off me. I have to say I watch all of your videos, they're interesting and so well presented that even my dog now has a basic understanding of economics. Nice work.
Me before 2022: Wow would be cool for EE to make an episode on my country’s economy, GDP is growing, perhaps there’s something to it for the channel to notice
Me in 2022: no not like that..😭😭
It's still pretty impressive to grow your GDP from 91 B to 200 B in just five years even with all the rampant corruption and threat of invasion. I hope you guys can pull yourselves up again just like after the chrimea invasion.
Good luck from someone who's also living in an extremely corrupted developing country.
Totally agree
@@user-eg4zb8sp1w to be honest it feels (at least to me) like the corruption decreased during 2014-2022
doge
@@aaademed corruption stopped being normal in 2014-2022, like before 2014 no one don`t even hide it. And now i want to believe that society have clear request for erosing corruption
How about The Economy of Iraq: Before and After ?
Make one then?
Maybe elaborate as to which Before and/or which After.
@@richteffekt 2003 obviously
He doesn't want to talk about Iraq. Good vs evil indeed.
do not ask - very objective 🤣 c*i,a pro+pa&ganda for your economy
A real good leader will never put his country or people into war.
Very objective analysis, I thank you for this as a Ukrainian. We have SO many cool things, I'm a refugee in Europe rn and I'm constantly bewildered by how many small conveniences that we are used to are not a thing here. Mostly that has to do with service, banking and governmental apps. We have a particularly strong IT sector that mostly works as western outsource but leaves us with plenty of benefits as well. It's just that every time we try to stand up, something new comes along.
I really understand what you are saying. Living abroad for five years, mainly in Netherlands I still miss lots of convince available in Ukraine. And keep in mind that I left before the big digitalisation of government services.
The duality of western politics, as if Ukraine are the good and Russia is the evil one, NATO caused all of this on Ukraine.
And why don't they mention how israel has been in invading Palestine wrongfully for almost a century now, and their biggest supporters are obviously The US and it's allies.
I guess Putin calling the west and empire of lies is more true than many think.
@@Archaoen0 go away kremlin bot.
@@KaterynaM_UA hahahaha, Kremlin bot, why don't you go away ? hypocrite.
@@Archaoen0 because you commented on my comment dumbo. They really be skipping in education there huh.
Thanks for the video, everything was on spot! However, as a Ukrainian, I wanted to highlight 3 more important issues that hinder our growth: demographics, brain drain and information barrier.
1. Demographics. Since the 1991, the population of our country decreased from around 50mn to 37mn. Potentially down to 30mn, if you consider recent developments. That's a whopping 40% decrease - if you adjust GDP estimates per more realistic estimates of population numbers, it has actually grown for several years. Demographics is also the reason why we can't attract foreign investments like the Asian tigers: falling birth rates and high level of emigration due to the open border with the EU have made labour quite costly here, despite the low official minimal and average salaries.
2. Massive brain drain. I can confirm this as a student of the highest-ranking UA university - studying in Ukraine simply became unpopular. More and more people choose to go abroad for their tertiary education even if its quality in a foreign university is potentially lower. In the field of research the situation is even worse - R&D capacities have crippled throughout the years (the president of the national academy of science was over 100 y.o. when he died two years ago, the average age of the academia is 60+ years) Since the start of the war the situation has worsened even more, as more and more bright young students decide to leave the country for good.
As a result of these two factors, the hands of our Government are basically tied without foreign support: it can't afford more financing for development initiatives because it's overloaded with social functions (paying pension benefits to 11mn of pensioners when only 6mn of the working population pay the social-tax is hard), salaries of the state-employed workers (about 1/6 of population) and house subsidies for the vulnerable citizens) - these expenses combined constitute the second largest share of our total budget expenditures after the debt service.
3. Thirdly, (and less obviously), our government os blind folded by the information barrier between its own divisions. The most obvious example is the estimates of our pre-war population. We've had no official census since 2001due to the lacks of money - the official number you see in Google (42mn) is the estimates provided by the state service of statistics. These numbers have been proven wrong for several years already - independent assessment with new data-driven technologies have been able to confirm only 37mn of population in 2019 . That's bad - similar to the healthcare industry where you can't treat a patient if you don't have a precise diagnosis, our government lacks the knowledge about the country its governs. It's, of course, only worsened by the demographics problem i mentioned before: the ministries have few well-trained employees in the public sector. As a person who worked with the system for some time, I can sadly confirm that the main problem within the executive branch of the government is often not corruption, but blatant ignorance. Sometimes various ministries simply don't have analytical capabilities to conduct certain strategic planning, and basically have to outsource it to NGOs or private consulting companies. But It's a vicious cycle too: our state statistics service is well-known for poor data collection (partially because the significant part of our economy is in the shadow) => Ministries can't make good decisions based on the wrong data => policies don't work properly because quite often they are miscalculated => ministries get punished for failing the plan which makes them hesitant to do any estimates by themselves => they hire private consultants or invite foreign experts to do the stuff => it doesn't work because they too are forced to use the state statistics data for the lack of other options.
I hope that Ukraine gets an EU prospect in the coming weeks. As far as I can tell, the EU west is kind of skeptical while the EU east is saying that Ukraine needs an admission process in steps where the EU would help Ukraine to reform step by step, including fixing the administrative issues while keeping investment into Ukraine going by backing up investors with risk guarantees. They say that the former eastern block countries, that are already in the EU are proof, that something like that can work. Personally, I think that the EU should have a strong strategic interest in a working Ukraine even if in the short to medium spans, it will probably be a sinkhole for money. If fixing the country goes well, Ukraine will have a lot to contribute to the EU, like balance east and west, natural resources and a large and educated work force and last but not least, some purpose other than economic. I also think, that in Ukraine's case, hope is more important than realism.
это правда
We can only hope, after the war, point 2 and 3 will get fixed over time with foreign ade.
These demographic problems will be experienced by many countries around the world sooner than people realise. The lie of overpopulation will implode as countries compete for young people and some states will fail as only old people remain. Russia is accelerating this problem not only in Ukraine but in Russia itself
@@fenderOCG overpopulation isn't a lie, it's a real issue, problem is trying to solve an elderly population with more and more people, that's a pyramid scheme.
In 40 years , we have grown from 4.4B people tot 9B people, if you think this is sustainable...
For my work, I set up production lines in African countries, India, etc... I can assure you, there is a threshold of overpopulation, and many countries/areas are over it, and it's almost impossible to get something done in terms of logistics and resources because everything is stuck and or sourced to provide people of means.
I am Ukrainian and I agree with your considerations. Nevertheless, there is one "but". After 2014's russian invasion, corruption level decreased, businesses grew. After 2022's war - it will be hard but the situation will eventually become better than before 2022's invasion. Why? Because each time we distance ourselves from russia and our USSR heritage. More further we are from russia - more strong is our country.
Ukraine is just as corrupt as russia, and as any other nation for that matter. First world countries such as america, canada, france etc all have corruption stinking to high heaven, only difference is it is well masqueraded through various means. The notion that oligarchs will somehow not own the majority of goods simply because "we're not soviets anymore" isnt a reality.
I’m also Ukrainian (biased opinion), and I agree that after 2014 corruption levels steadily decreased, especially on lower levels. Partly because of multitude of new, partially western-sponsored anti-corruption mass media, partly thanks to a stronger pressure from society, partly thanks to new, western-pushed anti corruption government organs. I hope, that the west will keep this pressure on our government during after-war rebuild, I would appreciate it.
About economy - IT industry steadily grows and employs hundreds of thousandths of people. It is not enough buy itself, but gives hope that eventually we will build more technology-heavy industries.
More funding from west* 😄
Data published by Transparency Internatinal shows the corruption index has been generally increasing since 2014 and no year has seen 2013 levels or lower. Its nice to be optimistic, however divulging facts to support your idea of soviet heritage actually having a lot to do with the current state of the ukrainian economy is not.
Actually Ukraine should be trying to look for a way to be at peace with Russia instead of going further away since Russia is first a strong neighboring country and doing business with russians and the west would actually benefit Ukraine even more
About corruption : we had two Ukrainian refugees to live with us(I’m danish). They also just expected to bribe the pharmacy to get medicine instead of going to a doctor and get a prescription. Note : I’ve never seen corruption in my life. And I truly believe it when it’s said that Denmark is the least corrupt nation in the world.
The culture shock was huge for them, coming to a country where you just couldn’t buy yourself out if you got in trouble.
Probably exceptional case for me. There is no (was not) a problem to buy a medicine in Ukraine and nobody bribes to get it. There should be a reason like people don’t have money for a visit but needed medicine badly. Majority of people don’t do bribes and very honest.
Corruption is more related to oligarchy and dirty politicians who are bribed and make decisions in favour of an oligarchy and not local communities.
That is really odd. Maybe they want something that not suppose to get through normal channel
@@daisuke910 No. The thing is, we mostly don't need any prescriptions to get medicine and it has nothing to do with bribery. A lot of it is what you call 'over the counter' medicine. So we can just get most of the basic medicine without visiting a doctor
@@atomsteel69 but there are some drug are regulated like strong painkillers. I know of OTC where you can just go to pharmacy and get them easily
Is Denmark really the least corrupted in the world? I heard that Syrians are treated badly by the government there
As a Ukrainian, I've always wanted for you to make a video on us, and I'm glad you finally did
"Ukraine is becoming one of the major economies of Europe."
"Ukraine is one of the poorest countries in Europe."
Pick one.
I mean it has 40+ million people. It is simply hard for a country of that size to not be a major economy.
2
Isn't major GROWING rather than a major economy itself?
In addition to that, how does a president for 2 years get billions of dollars and afford a 35 million dollar villa in Florida?
@@Steelrat1994 yeah, with a per capita income of less than half of South Africa or Brazil. Having a large population doesn't translate to economic wealth.
Do you have an episode dedicated to the economics of corruption?
Really tho, I’ve only had a cursory look at the whole scenario - but ukraines politics and politicians are utterly corrupt. It’s amazing how the west portrays it as ‘good vs evil’ and am so disappointed in EE for falling into that trap but don’t really have very high expectations for such a normie tier channel
The argentina video maybe cause that's our economy lol
@@FukU2222 Of course this is a normie tier channel. If it wasn't he wouldn't be allowed on UA-cam or he would at least get demonitized. It's one of the main things he does for a living so of course he's gonna be scared of saying anything outside of the mainstream cattle narrative.
@@FukU2222
This entire war is about oil. Ukraine discovered some of the largest deposits in Europe. They had a coup which installed zalinski as the new dictator and he’s been laundering money for western politicians (particularly the Bidens) and gave the new oil field contracts to Exxon and Shell. This upset Russia’s monopoly on European oil and gas so he invaded.
It’s evil v evil.
I mean he would probably have to make that a series explaining different types of corruption because different types have different effects. Compare China which controls the type off corruption at a local level vs russia which all forms are technically illegal yet no one enforces the laws vs the US where you do it and you have everything to lose so you try to only do I abroad in sphere members or offshore. That or you "only go for gray areas".
You are talking nonsense. Countries representing 85% of the worlds population do not back sanctions against Russia. That means only 15% support sanctions!!!
Guys, you need to realize finally you are NOT the whole world.
Could you do a video about republic of georgia, georgia was also invaded by russia and has separatist regions however it is 7th easiest country to do business in and it also has pretty liberal tax system and has a big tourism sector (32% of country's gdp) so i think it would be and interesting topic to cover since georgia and Ukraine have large similarities
P.s genuinely huge respects for you because you spoke about this topic you may get demonitized but this video will teach lots of people.
@etherpecker Iraq and it is so bad that they wish saddam is back.
@@lightingflow4203 Yeah, saddam really was the only thing keeping half the country from trying to kill the other half, after stoking those hatreds to retain power. It was a miscalculation because the US straight doesn't understand that level of hatred for fellow countrymen.
Good thing that the younger generation seems to have had enough of the self-sabotage. Hopefully the investments we made into education will actually help Iraq. Most of the other so-called investments sure didn't.
@@lightingflow4203 i read that iraq's economy would grow by 10.6% this year said by imf but for a country with a population more than 44 million that would still be nothing
@etherpecker *Think Libya as well:* Throughout Gaddafi’s tenure, ambitious social programs were launched in the areas of *_education, health, housing, public works and subsidies for electricity and basic foodstuffs._* These policies led to a _substantial improvement in the living conditions of Libyans,_ from being one of the poorest countries in Africa in 1969 to being the continent’s leader in its Human Development Index in 2011.
In fact, the United Nations Development Programme (2010) considered Libya a high-development country in the Middle East and North Africa. This translated status meant a literacy rate of 88.4 percent, a life expectancy of 74.5 years, gender equality, among several other positive indicators. the UN even considered Libya as a emerging First Would Nation.
NATO intervention - at the behest of America - ruined Libya. And NATO played Ukraine for fools, teasing them with NATO membership to poke the Bear. America will fight Russia to the last _Ukrainian._ Utter fools.
But the EE creator says that the Ukraine situation is the "clearest example of good vs. evil in the past 100 years". He clearly only sees blue eyed, blond haired people as human, all others are subhuman to him - and most of his viewers.
@etherpecker right! Like Vietnam and Japan!
Please do a video about the Lebanese economic crisis. It's a very interesting economics topic.
yes
It's because of poor investment decisions, widespread corruption, systemic braindrain, the collapse of Syria's economy which was tied to it and the relationship that the most major political party has with Iran making it the target of Iran's adversaries.
Great work on this one. Appreciate you taking this one on
Gorgeous research and video presentation. You’re deserving of the millions of followers/subscribers you’ve earned. 👏🏼👏🏼
I'm sure this will be demonetized despite the fact that it should be required viewing to understand where Ukraine's economy is/was. I appreciate the honest/sober look at the situation. Keep up the great work.
If the video doesnt say Ukraine is winning big, it get automatically demonetized. But they can no longer keep hiding the sun with a finger.
I just got two unskipable ads.
The only take I had in the video was about foreign investment being reluctant of a future Russian invasion, which they tried to fix prior to 2014 and are fighting for now.
Do remember it's an outside view, so it won't be 100% accurate, but it's still touches on important subjects.
why would it be demonetized?
I liked the polymatter callout since the square he presented on corruption genuinely enhanced my understanding of influence vs theft and their differences in this context
Thanks for the video. It was really great. I am from Lithuania and it would be awesome to if you made a video about my country or Baltic states in general as our economies are quite similar. After Soviet Union we had many problems like corruption, unemployment or poverty, but managed to fix them. Since then, our economies are rapidly growing, we are integrating in global markets and becoming first world country. It is night and day how our lifestyle changed since Soviet Union.
Nice to hear that. EU helps a lot. But since 1991 Lithuania lost almost 25% of it's population, because of emigration. Is that ok?
@@miru4226 Yes, due to low wages compared to other European countries young Lithuanians used to emigrate in huge numbers. Now the population decline is slowing down. It is hard because businesses do not have enough workers. But this problem is somewhat solved because Ukrainian refugees are taking this place. Another problem is that there are more and more retirees compared to working class. So, it is quite hard to sustain them. Our government is trying to solve this problem by making private saving funds.
@@miru4226 We need to consider that those are people who went looking for greener pastures. Soviet-era iron curtain had contained a lot of them, and after that fell, imagine a dam breaking. But! Especially in the beginning, a lot of those were people that would have left earlier if they could have, so the numbers need to get spread out over somewhat of a longer period (let's say, add 10 years - if you can't leave in 10 years, you'll probably never because life happens in the meantime). Also, now, as the Baltic economies are doing better, some of the emigrees are hopefully finding that the 'Great West' isn't quite as great and are returning home. And in a sense, Shengen incentivizes countries to keep themselves attractive (or people will leave).
So, well, yeah, no, those numbers are bad, it's not ok - but it's getting better.
How’s “independence” working out for you? The highest inflated country of the EU. Pathetic!
Communism is not the origin source of USSR collapse and economy behind the west, lack of strong egalitarian culture to promote equality is
Very good and apparently honest and eye opening. Thank you.
Imagine getting invaded by Russia 2 times, been in the crosshairs of nuclear weapons and hosting the place of the Chernobyl catastrophe and STILL getting a BETTER "stability and confidence" score than Argentina ._.
peronismo, not even once.
I still remember when i was younger, 15 years ago or so. In spite of all the disappointments, Argentina was still seen as a highly developed country in Latin America, and Argentinians were rather smug to everyone else in the region because of it. Nowadays Argentina to the rest of Latin America is simply a living disappointment. Of course better than the average latam country, but stuck forever in the same place....
Living in Argentina is somehow more dangerous then war with a global power
". . . millions of dollars to influence policymakers to vote one way or another on a particular law."
Oh, so *lobbying,* then. Not disagreeing with you. I do think the millions spent by corporations to lobby Congress for influence in policymaking is pure corruption indeed.
lobbying isn't inherently bad or corrupt, producers need to have connection with policymakers to facilitate production, the problem is the prejudices the policymakers have against the working class.
@@TeddyKrimsony Which is very closely tied to the production leaders' ability to produce profits.
Also, these people have the means to start campaigns (the amount of money they throw into lobbying could easily cover that) to try and sway public interests to support them, resulting in the general populace voting one way or another, rather than just bribe their way to policies. THAT is why lobbying is legalized corruption and nothing more.
Thank you so much for that video!
Thanks for another great video!
Ukrainian actually have very good software developers. They are great for offshore software development! A lot of US companies have their software development outsourced to Ukraine.
GSC Game World who developed the S.T.A.L.K.E.R. and 4A Games who made Metro video game series are all Ukrainian game development studios.
@@crackasaurus_rox9740 yes, they pay at Ukrainian wages and sell at American prices making a fortune without actually working.
Great web developers too.
@@crackasaurus_rox9740 it might be the case for the entry level, but for mid and seniors its not always the case. it is cheaper, but not that outragesly as you state. i think comparable to europe in terms of net. even like 5 years ago net was comparable to Germany.
@@storylineOfMadness It is definitely so the case. I don't know what work you're writing, but the comparison between wages in the US to that of India for outsourcing is incredible. On all levels of tech mastery (junior - senior)
Cheers from Ukraine. A few small comments on the topic. In 2013-14 you focused on Russia annexing Crimea and Donbas, yep that's important. However, an important matter is that it all started due to the Ukrainian people wanting to go the EU route and Yanukovych almost denied that in November 2013 after which the Euromaidan started. This helped us to avoid becoming a satellite of Russia (just like Belarus is) and it helped us to at least partially change our internal matters, which was awarded with visa-free entry to the EU. And on those territories that weren't occupied, quality of life became much better than in 2014. I can easily say that if we look not at economic indicators but rather at everyday improvements, the improvement was way bigger than in the 2000s. Also, Ukraine has a booming IT sector and an educated and undervalued workforce, which could become our basis for future growth. Oh, and on the topic of the shadow economy. By some estimates, as much as 1/3rd of our economy is considered shadow economy. That's why we appear poorer than we really are. If we included our shadow economy stuff into the calculation, the wealth of Ukrainians would be comparable to Romania, Bulgaria, and Serbia. There's a joke in Ukraine: "There are 3 levels of poverty in Ukraine: 1. I have no money. 2. I have no money at all. 3. Now I will have to go and exchange my dollars."
That's a good joke, have to remember that one :)
You didn't become a Russian satelite but western satelite. IMF never let's countries like Ukraine develop, they become cheap work force and foreign companies extract natural resources to the so called first world countries. You are right that Ukraine being Moscow's satelite is bad, but the alternative is also bad. I know this because my country Serbia is in a similar position, we became IMF's puppet and will always be in debt and poor
Yeah "Ben Duncan" sounds REAL Ukrainian. Russian troll
Better change "improvements" to the "local improvements" - it's a vague term and it's hard for foreigners to understand it. What I think you mean is the results of a successful decentralisation reform - during the last 5 years we've seen more construction & repair works done in the regions because of it.
Not all of our fellow citizens know it, but since 2017 about 40-50% of our total budget remains in the hands of regional administrations so that they can spend it on the things their voters really want)
@@alovernighterWhen I was talking about small improvements, I was talking not about improvements from the side of the government. But more about a lot of new small businesses opening, improved quality of different services, wider range of goods in stores etc.
Thank you for the effort, your effort is much appreciated.❤
Friendly feedback: add live link/tab/description mention of past videos you did mentioned in curent video
Very good video. Glad you did it. Well done 👍
Wars have no real winners, but it also poses an opportunity to reshape rapidly, simply for the sake of survival. So it really comes down to what happens after the war, continued turmoil or perhaps momentum towards a situation not too dissimilar to Taiwan, who because of their situation over time (important) have turned them into the antithesis to China. While the situation is obviously dire, necessity is the mother innovation, innovation towards a stronger and more reliable state.
Wars have winners, stockholders of military factories and casket makers.
Your case on Taiwan is a textbook example of hindsight bias. There are too many variables at play and China didn't perform poorly in the same time period. In fact China grew more rapidly and without outside help.
I guess this guy is not a shareholder in Ratheon or BAE systems eh
There is no way Tawain can escape from China because no technical, military and economy growth can help or make Tawain win or call for direct Independent.China is too big in everything for Tiny Tawain to handle for even a month or years of war.
@@EbrahimHasan It is a myth China grew economically on its own. The country was still very dependent on foreign investment and intellectual property theft for it's growth.
Having placed Ukraine on the economics leader board, I'd be very interested in seeing where Romania would stand. Especially in comparison to Ukraine
Well, i don't know, but there is data on the internet.
For example, GDP for capita in 2020 was about 12000 compared with 3700~ of Ukraine. Not to mention that they are EU and NATO, so i imagine they place a lot higher.
But you can check the data for yourself and make an assesment.
@@pehash Salaries are maybe twice in Romania but prices are 20-30% higher (except gas and cigarettes which are way higher).
Would still pick Romania, Poland and the Czech Republic as future economic powerhouses. They have a GDP per capita close to Italy if you adjust it to PPP.
Add high home ownership ,low unemployment and low debt and in 10 years they'll catch up the west in living standards.
Ukraine on the other hand, would probably need 20 years to catch up.
I'm a Romanian so I think I can answer that. Living in the large cities, there isn't much difference in living standard between a city like Bucharest or Cluj and a city in a western country. Moving away from those large cities, the story changes a lot.
For example, the average salary in Bucharest is more than 1000 euros, after taxes. In reality its a higher because shadow economy is still a problem, although not as before. I am referring to people earning 500 euro "on paper" (on which they pay taxes for) but actually earning more than double "in hand", money which are not accounted for in statistics.
According to GDP per capita, Romania has roughly the same GDP as Portugal, Hungary and Slovakia. If we consider GPD nominal, Romania is 18th in Europe (including non-UE countries). Comparing it to Ukraine, Romania has almost double the nominal GDP (data from 2020).
Yes, but what about Romania Jr. - aka Moldova?
@@MrGreghome they are fucked tbh
Many great teams are covering this, and I give them props.
You discussed Ukrainian economic corruption, and the role in world position.
Good job. You stand out among some great teams.
WEF corruption is clear as day. Ukrainian leadership is clear as day
How is he a hero again?
Long time Ukrainian viewer here. Thanks for showing our situation.
Very well out, on a difficult topic. A big thing about economy pre- and post-conflict Ukraine is exactly understanding who will be suffering the most -- the people. It's all well and good to desire an end to the conflict but we should also be thinking about what the people of Ukraine will experience once the news media and the cheering-for-victory are over. Honestly, I think that's a good target of consideration in every country -- are we making things better or conveniently ignoring problems?
The people of the so-called “Russian-speaking” regions are the one who are suffering.
Very insightful. Thanks for not self-censoring. I really hope the conflict ends soon for everyone's sake.
Very interesting, I didn't know about many of these issues and it's interesting to hear the economical side
Ukraines ppp adjusted gdp is far more competitive (and accurate to the living standards) compared to it's real gdp.
@Kaio Hyzel yes but the amount of stuff that €300 will buy in Ukraine is mich larger than in the Czech republic. This is why you have people coming to work, because the money is worth a lot more at home than it is in the Czech republic (they send most of the money home).
@Kaio Hyzel I know that in Czech republic minimum wage is quite pathetic, even lower than in Poland and Slovakia.
@@Janshevik Your "I can type stuff into google" certificate will be in the mail next Friday.
The Czech Rep. still ranks higher on quality of life standards than both of these.
@@maryanchabursky9148 of course it can buy more in Ukraine and it exactly because its poorer state... the richer you are the more you are paying for the services for example... the real wealth is calculated by how many Iphones can an average person buy in each country... it has to be done with international products, not by how many carrots you can buy from local farmer
That is true. (for every economy)
This feeling when you are from Ukraine…
Same sh*t bro
You stay strong there, man! Let's go Ukraine!
Что сказать, учите польский хлопцы)))
Зато с другой стороны у вас шансов оклематься и восстановиться в будущем куда больше будет, чем у "Мордора" - дорога в Европу куда короче стала, а оркам под санкциями только и дальше загнивать остаётся!!!
Thanks a lot for all the effort you put in these videos mate :)... stuff like this is what really shows people where countrie's economies are at without any political bias... I've been out of my country for more than a decade and id really love you to do a video about Colombia's economy. I know there are many but Id like to watch your version, im sure many Colombians like me are too... thanks a lot... please keep it up! you are awesome!
Something happened that was bound to happen: Ukraine got invited to the EU.
Now this doesn't mean corruption will stop on its own, but the experience from Bulgaria shows that a simple threat of withholding funds does wonders.
Yeah, at the last moment the EU will change it's metrics and let them in anyway. I watched that happen with Bulgaria and Romania.
"good vs evil" lol
If ever there were a "Pure Evil" Russia would be it
@@spudsbuchlaw your brainwashing is complete
@@armenkaprelian By your definition, how is Russia _not_ evil?
Let's not forget that from the late 90s to the mid 2000s, some strong ties with Russia were feeding the corruption in Ukraine, so they could profit more and get more ukrainian exports with less competition.
Great job!
Always interesting, thank you.
Great video. About there being 'no winners', regardless of the outcome of the war, I think the US will come out as a winner here. With increased demand for 'security' and US fossil fuels, it will again even have more leverage on the region.
As someone said:
Big winner-USA
Small winner-Russia
Small loser-Europe
Big loser-Ukraine
@@bumponalog7164 Another big loser: Russian citizens
@@bumponalog7164 How does rf wins even “small” in this ? They will literally have NATO covering them as well as being sanctioned heavily and probably have China licking them down like a lollipop, India could probably at least be generally friendly but I doubt they won’t do what China does. If anything it’s a fool’s victory. Not even a pyrrhic one.
Disagree.
Ukraine, Russia and NATO all will lose.
There is only one winner and that is China.
@@bumponalog7164 super winner China
One of my favorite writers once said something like "There's no problem in mortgaging your grandchildren's future to win a war- because if you loose there won't be any grandchildren."
As someone who live in a country previously colonized by European. That is somewhat untrue
@@pan2aja As someone from the Americas, it is very much true.
The Russians have already made it very clear that they don’t think Ukraine or Ukrainians should exist.
@@pan2aja please explain your point.
@@dice3809 what they are saying basically is that unless the invader practices a total genocide even the losers do indeed have future descendants and thus mortgaging their future can still be wrong and indeed undermine the cause of your own people. losing quickly and relatively painlessly can be a superior strategy to dragging things out though I would assert that is up to the specific defender to decide.
@@scorpioneldar Then, it is better to fight. I am from Eastern Europe and we know Russian rule well. There will be no prosperity or freedom under their rule. Terror, repression, killing anyone who oposses, erasing Ukrainian language and culture, brainwashing them and then using as cannon fodder when invading other Eastern European countries. We understand Ukrainians well. None of us wants to be dragged into the middle ages by the Russians again.
I don't want to defend or praise the British here, but Russians do not compare. All they brought to our countries was pathology and misery we are still root it out even day. 30 years after leaving their "brotherhood" we are still behind the rest of Europe thanks to their colonial rule.
I'm not sure about the clear cut "good vs. evil" part. In the western mainstream media, maybe, but I think that's probably an oversimplification for anything. It's not just about Russia vs. Ukraine, there are a lot more dynamics than that.
I LOVE this channel but if we are going to call Russia "Evil" , then when are we going to address the the "Angels" of neocolonialism, since this source is the one I find the best, I would like to see a video on the topic of neocolonialism.
Great sober overview, thanks for having the courage to post it.
Bro it's very brave to talk about this and respect for you has increased a lott
There's nothing brave about regurgitating Western propaganda.
Such a European statement. At what cost ? “I know not what course others may take, as for me, give me liberty or give me death!” Americans understand Ukraine, keep fighting for freedom !
Don't you have a patriot act in place? What freedom are you talking about? All you have is nationalism, not freedom Americans are really delusional.
We struggling and fighting for freedom already for more than 300 years, russia just can`t leave us in peace ruling our own state.
Very well analyzed Video
Really well made video. You handled a difficult aspect of the situation with compassion and its important to understand the economic context that Ukraine is fighting this war in.
Quite good video. I didn't expect it to be that good honestly. And despite your personal bias (which I have as well) the video is not biased. Maybe the score at the end is slightly warped, but at worst in positive direction.
Thank you for this informative, dispassionate and necessary video in these tragic times. Truth is the first casualty of war, but it’s has survived in corners of the infosphere like your channel.
Good vs. Evil? Pipe down, Aussie!
would you say the same for the nazis?
I would also highly recommend Perun's video on how curruption effects militaries and how it is very prevelent in the Russian one
It is surprising that corruption isn't a problem for Ukraine's military since corruption tends to touch everything else in the country.
I would recommend Perun's videos in general. The guy definitely shares a lot of insights.
@@42ish32 I watch him all the time.
@@badluck5647 I guess that's one thing the west did well for Ukraine since the US basically bankrolled UKR the military couldn't afford to be corrupt before and during the war
Ukraine has always had to deal with Russia and has its own breed of Oligarchs who control most of the ECONOMY.
this was right, in formenr times, after 2014 there are many changes in this regard, so this country is on the right way, and this is one of the key problems for russia, because they where falling short, compared to ukraine. this causes questions by russian public, and putlers regime got simply no answers to this questions, so ruining your neighbours economy completely let you look good. This is the utterly wrong decision whidh ruins russia in future to the point where this failed stae will be cut to pieces with a core rural russia at the end. Maybe compare it to the morgenthau plans off USA after WW2.
It's not a good place.
Zelenskyy is as much an oligarch as the others.
@@WiseOwl_1408 I moved from Norway to Ukraine before the war. It’s a great place. Don’t base everything of stats. They can be missleading.
Ukraine has also had to deal with crumbling infrastructure which you just wouldn't see in other European countries for instance, there are trolleybus lines which run on gravel roads (Ashphalt roads is usually required for safety reasons), Trains often run at
I will just add one thing that year by year I felt it got better, not without seat backs, but still.
Now, even 1991-1996 could be described as utterly joyous years as our resource-based economy is gravely wounded and has low chances on survival.
As a young adult from 2022 occupied regions, I afraid that we would need a lot of time to recover, if could recover at all.
I will do 200% to help my country heal, we just need to stop this and any future invasions.
I find it strange that people voluntarily choose to ignore any negative aspect of Ukraine or Ukrainian government or society in order to make this war the most black and white war since Nazi Germany. A bad guy defending himself from a bad-er guy is still a guy defending himself from a bad guy. You don't have to be an angel to be in the right.
for real, why is it so hard for people to stop seeing everything either as black or white?
Whenever a story is of pure evil vs pure good, you're either reading scripture or propaganda
"Influence corruption." Did you just describe lobbying?
Yes...exactly
Thank you for making a video that was difficult to make.
The video is spot on. Thanks from Ukraine. Lots of comments are correct too
If You wanna know how Ukraine could look like economically, just look at Poland. They started from the same point after collapse of Soviet Union with the difference being Poland implementing drastic reforms and joining Western structures whilst Ukraine stayed in the Russian sphere of influence...
Not exactly. Ukraine had and has a much higher corruption level.
Also Poland basically was and is still hanging on German funds. Germany can’t feed two of the most demanding fund sinks.
To be fair, Poland was far less integrated in the Soviet economy and had less reforms to do. For example,it already had it's own currency and didn't have any collective farms
@@mykhaylovarvarin9078 yes they had....so called PGR...state owned farming estates
@@xunqianbaidu6917 it wasn't exactly independent. Still it was a Russian sphere of influence.
@@xunqianbaidu6917 true, but it mostly geared towards their masters in Moscow. Although, they were doing their best to be an independent regime.
"This is hardest videos I have ever made..." BUT HERE IS OUR SPONSOR
Balanced reporting. Well done.
Hi I come with a humble opinion. You have 2 questions (chapters), and you provided answers to the questions. What I don't understand is how is it related to "A Hero But At What Cost"? I don't see how the 'cost' is addressed. Thank you.
Thank you for the very informative, illuminating, and difficult video. I learned a lot, and I appreciate some candid unfiltered honesty about the “good guys”.
I am very pleased to watch this type of content as a long-time viewer. Please do NOT shy away from such topics because of opinions. This is incredibly important information to be aware of
Seconded
very objective 🤣 c*i,a pro+pa&ganda
Thirty seconds in and I already heard two things that made my skin crawl.
Great video.....would LOVE to see one on Puerto Rico and all it's messiness!
As soon as i learned more about Ukraine, i always saw it at the beginning of a develpoting into a "moden" country. I think the war against ukraine will leave a strong feeling of "not beeing russian" mainly also not beeing corrupt and alligning even more with european values.
'European values' hmm do you mean hypocrisy, doube-standard, imperialism etc?
FR, I really hope so
@Max_CSD Loradon Im obviously taling about european culture and not geography...
"Not being corrupt and aligning more with European values."
So ummm, when are y'all gonna start paying your fair share into NATO and the UN? Or does Papa USA need to send another $40 billion that way?
EU agreed to leave eastern block countries out of the EU following the disbanding of the USSR. Look where we are now. Been awhile since you had a chance to bomb the entirety of Europe, I suppose.
Great values those Europeans have.
@Max_CSD Loradon No realy. Anyway have a good day sir.
I'm surprised you chose to use combat footage, even if it's just tank warfare. May the algorithm be kind to your channel!
Yes, for me buying shoes online is exactly like investment: at first the numbers seem right, but soon I end up feeling quite uncomfortable, regretting my choices and having to incur costs to take them back.
At the start of the video, I sympathized with you about this being the hardest video you were going to make.
When you said "On one hand", I remembered you were an economist and all my sympathy evaporated.
What do you mean by that? Are economist now supposed to say things to make you feel better instead of stating facts?
@@debetrolence1991 I think it's just sarcasm. I think OP is refering to a well known joke about economists and those "on one hand" comments, and how economists say that all the time.
Even economists can be harsh on Economics itself, they're perhaps too sadistically fond of the epithet "the dismal science"...
@@blublubblub yup, that was my intention. Truman once said he wanted to chop an economist's hand off so he didn't have to hear 'on one hand' in every economic discussion lol.
It's such a strange world to live in when you see a brilliant content creator have to preemptively beg not to be cancelled as he gives an honest, evidence-based assessment of a country's economy. 🤔
If you think it's strange or new, you don't know anything about how people react when it comes to war coverage they perceive as accomodationist.
He's a good creator but he's a biased in this case.
He lists ukraine as being the good fighting evil russia.
Guess what, i came up on this video just after seeing Donetsk city centre in donbass which is under separatist controlled getting struck with loads of mlrs by ukraine, there are hundreds of civilian injured or killed, buildings on fire.
This stuff is happening for 8 yrs now.
And it makes by blood boil when someone says ukraine is good.
How can someone even think of saying a country good when it bombs it own city centres targeting civilians, and it considers those civilians and their land as its own.
It's like a father killing it's children and the rest of the world is making a hero out of the father
This is such an interesting discussion. I've long been in favor of including the economically weaker states of Europe in the Union. Sure, it comes with some upfront cost (which contrary to Brexiteer beliefs are actually very low on a per capita basis), but in the long run it also significantly strengthens the EU both economically as well as from a security perspective. It's hard to imagine that Russia would have invaded an EU member country. All their saber-rattling aside, their stance to modern day Poland, Finnland, or the other Baltic states is significantly more careful than to other former Eastern Block countries which they perceive as much more vulnerable.
For perspective, I'm German, and thus both a European and an EU citizen.
Completely reasonable, if you don't consider or recognize that part of the NATOs agreement when the Soviet Union was disbanded was explicitly to stay away from former soviet states and not bring them into the EU.
Not to mention the whole Donbas genocide thing that's been going on for quite some time, which no one seems to care about.
There is also a tiny problem for the poor countries joining the EU. It's not exactly that great for their people and their standarts of living.
@@Steelrat1994 This is simply not true. I dare you to find a country which experienced negative GDP development after joining the EU. Or one that didn't have life expectancy go up.
I honestly don't understand where you're coming from. In what way has it been negative for any country that joined?
Like, even countries like Greece, Portugal, and even Ireland which all suffered tremendously after 2008 and the Euro-crisis, who were facing extreme austerity policies after being bailed out, who seemingly had every reason to turn and walk away - they all stayed and they all recovered or are recovering faster than the naysayer projected.
@@sidremus EU has mandatory minimal prices on such things as food. Prices in poor countries are also low, increase those without raising the salaries and people become really poor.
They would have to give up their currency which means giving up one of the most important tools for managing the economy.
And above all it's the brain drain. A big chunk of the competent and productive part of the population is going to move over to the rich countries. Why wait until your country gets developed in 20 years and not move to a place that is already good to live?
Integrating such a huge country into a EU is a humongous task and is unlinkely to cause only benefits without crippling downsides. If it happens at all.
@@tcp8946 That's actually wrong. Of course it was/is stated in the 2+4 agreement (and the Helsinki agreement) that russian/Soviet security interests always have to be considered and taken seriously but in the same agreements there is/was also stated that in general every country can choose it's alliances freely WITHIN Europe. Therefore it can be concluded that eastern European countries joining the EU was in no way wrong but eastern European countries joining NATO could in fact be considered wrong.
India and China are not against Russia. That’s more than a third of the world, if you look at population
9:55 man, if you call that clear cut, I don’t want to know what you think not clear cut is like.
''You can't run an economy on foreign aid''
Israel: nervous laugh
Legit tho
But politicians say that sending money to Israel is good for America and the West as a whole. They couldn't possibly be lying. I'm sure politicians have our best interests in mind!
That’s funny but I think you are not giving Israel’s economy enough credit.
Only about 4 percent of Israel's budget is comprised from the US military aid. And it is strictly military aid, most of which has to be spent on the US-made weapons. Which is also provided on the set of conditions and servises Israel provides to US, mainly in the form of military R&D and intelligence.
It will be interesting to see the long term impact of the millions of refugees that left Ukraine. I think many of them will stay in Europe even after the war because in the EU you can simply earn a wage many times higher than in Ukraine.
That depends if they are allowed to work. Also currently men between 18 and 60 are not allowed to leave to country so most (almost all) of the refugees are women and children. Ultimately it is a question on whether the men will joint their families in the eu (if the eu allows it) or whether the family return home. This will also be decided based on how much the west is willing to make a marshal plan for Ukraine.
I imagine many will. Which overall will leave Ukraine even worse off as it will lose hundreds of thousands of productive workers.
Granted most of them are women and children currently. Not the country’s men main working body of fighting age men.
And of course so much depends upon how the war ends. Whether or not Ukraine has to give up territory for a peace settlement and whether or not Russia shells the last few cities in oblivion.
@@maryanchabursky9148 as of today the refugees from Ukraine are allowed to work just like any other citizen and the children are enrolled into local schools.
It's unlikely that these people will be fired. It's much more likely that the men will simply join their families in Europe after the war.
@@SamSam-qk5zr I disagree, since the men would need to also get working permits after the war, and all EU governments would need to agree to keep the refugees status. Crucially even though they have a right to work they are still far from being financially self sufficient.
Great vid
The offensive against the separatists in 2014 was a huge mistake - granting them autonomy (which they requested), or better federalizing whole Ukraine + reforms, no conflict ->
no problem attracting foreign investments. Plus there are big oil & gas reserves in & near the Donbas region.
So keeping the region stable is the sensible thing to do. Nationalism & propaganda prevailed over pragmatism, peace and stability
Some evidence has surfaced that the revolution wasn't just coming out of thin air, but was externally initiated.
Probably over the very same resources that the Donbas region holds.
Meaning that there was no way the new government would allow for Donbas to leave; IIRC, they even stated as much.
There is also reason to suspect that the Donbas region wasn't fully independently demanding independence for itself either.
The whole situation is messy under the hood, frankly.
@@OzixiThrill they at least could have give them autonomy with out making them independent, much like the Kurdish government in Iraq
Very strange that you didn’t touch on the potential natural gas output & oil output that’s being cut off by the invasion
If your hopes are something you express through illusion, then it’s not hope, it’s only fantasy because you can’t built on your hopes if you cannot see where reality is and reality is pretty bleak, but that is the starting point.
"They say, evil prevails when good men fail to do nothing.
They should say, evil prevails"
- Nick Cage in Lord of War-