Re:Reasons the banking crisis isn’t a repeat of 2008
by wodenokoto on Saturday March 25, 2023 @04:34AM
(#35300673)
Who are we calling an "advanced economy", but also considering having an unreliable legal system?
Contenders, in my mind:
- China, second largest economy, but generally still considered developing, so I don't think it counts as "advanced"
- Russia? They've been a big player in the world economy long enough it is hard to call it a developing country.
Re:Reasons the banking crisis isn’t a repeat of 2008
by riffraff on Saturday March 25, 2023 @05:09AM
(#35300869)
Italy for example (second exporter in Europe, tenth by GDP in the world) has notorious issues with its legal system (for a variety of reasons) where trial may take many years to be concluded.
Re:Reasons the banking crisis isn’t a repeat of 2008
by dtech on Saturday March 25, 2023 @06:19AM
(#35301224)
That export sounds like a suspicious claim, do you have sources? afaik DE, FR and NL are much bigger exporters, and a random Google result seems to back that, placing Italy 5th in EU absolutely and almost last by GDP [1] [2]
[1] https://data.worldbank.org/indicator/NE.EXP.GNFS.KD?location...
[2] https://data.worldbank.org/indicator/NE.EXP.GNFS.ZS?location...
Re:Reasons the banking crisis isn’t a repeat of 2008
by riffraff on Sunday March 26, 2023 @10:52AM
(#35315062)
You're right, I don't know where I got that factoid. Perhaps it was an industrial goods only statistic? I can't find it anyway now, so I may have just misremembered it.
Re:Reasons the banking crisis isn’t a repeat of 2008
by wodenokoto on Saturday March 25, 2023 @12:56PM
(#35304545)
Wow, I stand corrected. Italy is scoring terribly. Somehow I thought “the old guard in EU are okay”
It can not be overstated how good this is for an economy, and it's something emerging markets struggle with, and even some of the advanced economics.
It'll always be easier to start and run a business where you can rely on tribunals to solve problems quickly and somewhat fairly.