Economics Explained, can you please make a video on the economy of Malaysia. That way, you can talk about the country's GLCs (government-linked companies), ethnic-based politics as well as the country's ethnic-based affirmative action policies. Please accept my request.
I remembered that you said how substitute for interest rate like buying shares is just another form of interest rate. I would say that’s the point it’s a substitute. The person or organisation who borrowed it won’t have to pay exuberant amounts of interest rates. We know how banks create interest which makes people keep paying for it. These methods aren’t rare. They are very common and which it affects supply and distribution of it. We need information to be showed for further understanding. While yes interest can be very useful but it also hinders the distribution of resources and cause shady tactics also discriminates certain income thresholds. Some countries avoid interest rates and uses a variety of economic programs and methods to offset the disadvantages and exceed the advantages.
@@ADogNamedElmo So was (and now is) Vojvodina. However you spin it, the map is wrong. Either should Macedonia be shown as a republic and Kosovo not or (what would be the best solution) Macedonia shown as a republic and Kosovo and Metohija and Vojvodina with some special punctuated markings. This is also how it is usually shown. Both autonomous regions basically had the same rights as a normal Yugoslaw Republic except one, which later led to trouble, seccesion. Edit: corrected some wording 🙂
The design was to ensure peace, which it has. This is what you get when that's all you care about. The same issue plagues Lebanon as well, which also had its system designed to maintain peace above all else.
Very good observation and you can be certain that it is so. The constitution is designed to be used and misused by politics and in divided society like Bosnia (constitution favors ethnicity instead of citizen well being), politicians skillfully use that for personal and political party's gain, leaving average Joe to keep his mouth quiet and endure due to politically designed threat of other two ethnicities, in sense that if we don't stick together in our own herd, the other two are going to destroy us. As a result of all that, economical prosperity stagnates and suffers.
Much of that corruption is due to the broken political system used, which was implemented to ensure peace - which it has. So basically the corruption is the price of peace. And rooting it out at a fundamental level may lead to...
Hello from Bosnia. Here's longish one: Nowadays it feels like half of population is out of country working mostly in Austria and Germany. All popular political elite options on all sides are completely corrupt and useless, and considered nationalistic and unacceptable by the other side (by people, meanwhile politicians work together to enrich themselves). Tensions are mostly manufactured before elections (some are real and long standing since before war even started, like Bosniaks wanting single president as they're majority so they can have majority ethno state, pick parliament and president suiting their interests, Serbs threatening going fully independent in response, Croats wanting their own entity...). International community (west, mainly Germany, Italy...) work with corrupt politicians. They extract capital from country (natural resources, organic food we export to import their gmo sh*t, hefty subsidies for companies exploiting cheap labor and shittty working conditions). High representative is virtually main ruler of the country and has salary equal to something like 30x average salaries. Now apparently there's lithium that could be extracted both in Serbia (that's affecting Bosnia somewhat too - one of its main rivers, Drina, which is in the name of novel that won its author Nobel prize in literature) and in Bosnia. It will be devastating ecologically. There is also issue of Croatia wanting to lay nuclear waste which will endanger another important river. Not to talk about bunch of mini hydro power plants drying up rivers, or unregulated mines. To all this western powers are culprits to corrupt politicians and in no way allies of people.
No dude. If you keep thinking like this, Bosnia will continue to be an embarrassment. Free markets flourish through participation, all you need to do is get the government reforms and legal reforms out of the way and done once and for all, and integrate directly with the EU, with Croatia, with Serbia. Bosnia will have way more power, sovereignty, and ability to self determine when it is an active participant in its affairs. All of your myths you tell yourself are just myths from the Bosnian government, they need people to believe that. The less Bosnia looks back to Yugoslavia, the more it can look towards determining its own affairs. Bosnia can be a tiger economy and can have a lot of influence in EU affairs.
@@Sanchuniathon384 Your insanely drunk on neoliberal bs. Croatia is in EU. They're getting screwed over in so many ways. Debt is rising. They gave up their currency sovereignty. They're leasing their beaches. It's only going to get worse when they can't service their debts anymore. People are leaving en masse, and more left since they've joined, because it's easier. I wish my country would be accepted so I can (die)leave easy. Germany hopes for this to happen too (why do you think we've got status of candidate all of the sudden, NOTHING CHANGED, Germany's got population decline issues) , because they're getting "white" migrants and I'll be replaced by some black or brown third-worlder here, God bless them. Many of them are here and in Croatia already. Is that really a solution? Goal is not functional system. You think it's mine mindset that's in question. You'll see. People will protest Rio Tinto mining in Serbia in next 2-3 years, and they will get crushed by police and military, and "international community" will remain silent, because regime works for them, not for people. Yoh think it's nonsense? It happened before. You're just ignorant. People here are alright. It's our (of low power) political leaders, and especially yours (of high power) that suck.
not true at all, Federation goverment took 600 milion KM (roughly 300 mil euros) in a span of a year by politicians that were elected by high representative.
@@pointyheadYT A few is too many for someone teaching history,politics and geography. Maybe they are genuine mistakes, could be pure ignorance or even malicious.
For someone who doesn't know anything, this is a big benefit because there is a lot that I have learned . But I agree that the experts are not going to be happy seeing some inaccuracies
@@pointyheadYTEvry map he showed had mistakes and what's worse it's not like this maps where correct in and date of time everything is just bad without ability to defend it
@@nemajabakic4546 I think whoever made this is american. You can't even call it geography whatever they teach in schools over there, so don't expect great maps from them.
Bosnian Catholic here. My personal wish is that we unite our country and that we grow out of the mess we live in now financially. However the whole Balkan is in similar problems...
If he calls himself Bosnian Catholic then he is that why question it not every Bosnian Catholic or Bosnian Orthodox call themselves Croatian or Serbian …. Budi Ponosan
@@dontsearchdocumentingreali9621 to je vasa mantra od kako ste se doselili iz Irana ;) Ne brini, znamo ko smo i što smo, a možda i ti imaš Bosanske krvi, malo se pretestiraj, nije na odmet znati prave korjene.
@@DrAntePavelić Then might as well say Croatia doesn't exist outside of Dalmatia. Many of Croatian food products are exported and consumed across Europe and the ship industry, while no longer one of the largest in Europe like in the early 2010s and earlier, is still quite big and significant.
@@DrAntePavelićWith that username of yours, no one should take you seriously. One fifth to one quarter of the total GDP of Croatia is not the whole economy. This also depends, Dalmatia was always doing economically worse than the rest of the country, so they resorted to the only natural resource they have, coast. The rest of the country did not resort to just tourism.
Very good video, but we dont even have 10% unemployment if we take out the ppl who r registered but dont want a job. It comes from the fact that those ppl have free healthcare based on being unemployed and can do all sorts of freelancing jobs on the black market. And the other bigger thing. We bosnians do not leeave the country due to economic problems or money problems we mainly leave it due to corruption in everything that exists.
Yeah sure, people leave the country cause of corruption. Certainly not because of money or cause they can't get a decent paying job. Don't act like people in the Balkans are any different from any other region of the world, money talks. Also, freelancing's still a small part of the population, a small %, so that's just funny.
As a Bosnian, I need to say something about this referendum. More than 65% of people capable of voting have voted and out of that, 99.7% voted yes, meaning not all Serbs were against the independence. It was just a smaller group of Serb nationalists that had guns and they were supported by Yugoslavia back then.
The main reason is corruption and nepotism, not only among politicians but in society in general. Lack of self criticism. Bosnian people like to only blame corrupted politicians when people themselves are corrupted
There is nothing ruling elites could get from Bosnia joining EU which could be remotely beneficial to what thy have now, hence, no progress can be made.
But actually the real issue is that people are uneducated (also having one of the lowest IQs in Europe) and it is not improving with new generations. Easy pray for ruling elites to cover plunder under a bit of ethnicity driven fear.
@@KolyaUrtz You are parroting (typically) right wing narrative which in case of your EU country might or might-not be true, I don't know and I don't care. Clearly you have no clue about Bosnia. Tell me if it is possible to bribe a police officer with 10-20 EUR in your country? Does the vice president of your country pardon daily murders and drug dillers? Are you required to bring your own bandages when you are visiting a doctor and to pay on top of it (to pocket of doctor) although your salary is already deducted for full medical service ? EU is far from perfect but in case of Bosnia it would bring many benefits to ordinary citizen's.
@@KolyaUrtz You are parroting rightist narrative from which ever EU member state country you are, and in the case of your country, that might or might not be true, frankly I do not care. You clearly have no clue on what is the situation in Bosnia as in your EU country, I am quite sure you cant bribe any police officer with 20 EURO, you are not brining bondages with you when you are visiting a doctor (on top of what you fully paid from your salary) and than bribing that doctor s well and I am quite sure that vice president of your country does not parole convicted drug dillers and murderers with semi official price list, on almost daily basis. So yes, EU with all its flaws is by far best possible option for ordinary Bosnian people.
I can see Bosnia from my hometown when I walk along the river! Thanks for this video, hits close to home, but please do my home country next! Croatia 🇭🇷
@monsieurlepresident8835 culturally, there are obvious similarities, but in terms of politics and economics, the picture is quite different. And may I remind you that this is an economics channel
Bosnia is a country where 98% of residents own apartments or houses. in Bosnia, all Croats have European Union papers. Bosnia is a country where half of the population is in Austria, Germany, USA, Sweden, Canada, etc. Bosnia is a country with a corrupt government. Bosnia is a country that does not have demonstrations against the government. life is great in Bosnia, because if it wasn't like that, people would protest. Bosnia has a large number of millionaires who robbed the state. in banja luka or sarajevo there are not even 0.2 inhabitants who are looking for a public kitchen or accommodation. there are no homeless people in bosnia
@@Alex-ll3ignah destroying the farmland is big no no. Support for Serbian farmers from Bosnians keep it strong people, you will prevail insha'Allah 💪💪💪
@@Alex-ll3ig Cannot have both, without risk of accommodating high standards and sticking to it, without mistakes. Also, railroads are not ready for that much of acid traffic, safety first.
As a Bosnian, our biggest problem is corruption, which is so inefficient that you never even know who or how many people you need to bribe to get anything done.
Yeah, I've heard there's a large community of Bosnians there... Pretty cool stuff. I'd love to go there one day... If I ever step into American soil that is.
As Trinidadian I’m proud, our gdp matches and sometimes best much bigger countries. For a small Caribbean island u can barely even see us on a world map but have a powerful industry.. 🇹🇹🇹🇹🇹🇹🇹🇹🇹🇹
do morocco next, it's on one side industrializing fast, taking advantage of closeness to europe and availability of skilled workers, and on the other side it's hugely unequal, and political and economic power are combined in the same elite
You should note in your video that constititional court of BH consists of foreign nationals, that almost 30 years after the war there is still office of high representative with unclear (limit of) powers including overthrowing legačly elected leaders, confiscating property, omposing laws etc, zhe OHR guy not being legal as he is not confirmed by UN security council but unilaterally proclaimed by a couple of western states. There is also central bank of BH with foreigners in its board which is also one of obstacles for the development. There are hundreds of decisipns of constitutional court of BH done by foreigners which undermine the rile of law and organisational structure of BH. There are so many, numerous disputes and illegitimate decisions in BH that were imposed in the čast 30 years that no legally acceptable and legitimste solution can be found. The country is in politicačy sense colonized territory ruled by foreign ambassadors and their decrees sent via media. No future for BH.
There is hope. If we stood up and fought against Hitler in 1941, why not now against corrupt politicians and the international community? They make idiots out of us. They imposed sanctions on Dodik's property, however, he does not own any property in those countries.
As the video points out, the shrinking population by itself can be one challenge to face. Growing an economy with a shrinking population can be difficult, as it only narrows the available workforce and potential investors from within the nation.
Stability and economic prosperity is like a chicken and egg problem, is it because of economic prosperity stabilty is established ?or does stability promote economic growth?
Economic prosperity promotes stability. Stability promotes further economic growth. This is a virtuous circle. Instability hinders economic prosperity. Poverty promotes further instability. This is a vicious circle. Both are equally valid. Although, I can think of a few wealthy but politically unstable countries - not many poor but politically stable ones though.* This tells me that stability probably comes first more often. *I mean, Eritrea and North Korea are pretty stable I guess, but I'm not counting countries that are only stable because all the opposition are sent to gulags or shot.
Unrelated video idea: See how the EE leaderboard would change if different metrics were included, e.g. HDI, environmental impacts or capital stocks. I think it would provide great perspectives!
Market reforms handed down by the EU as a precondition for membership are just a bandaid. In order to stick, there needs to be a grass-roots desire for smaller government.
I just moved to Cincinnati, and take trips to Fairborn all the time. I was really not expecting Wright Patterson airforce base to be mentioned on a video about Bosnia.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional.
While a nice overview of the country, it is rather oversimplified. I am the head of the department for the Balkans, and Bosnia and Herzegovina is currently one of the best countries for investing. The current political landscape has opened up a number of avenues for those who are willing to navigate the complexities of privatization of national resources. It offers a good and easy way to earn money.
I'm frome B&H and there is no way we do any economic reforms without some goverment reforms even to this day we have one of the most complicated goverment structures in the world also it's quite expensive not to mention that coruption runs deep in the country
I wonder about this as it would seem power-sharing between groups would curb corruption (i.e.- would corruption be any better if only one group was mostly in charge). "Corruption" is vague without examples and instances of how it is perpetuated.
@@quintessenceSL It wuldn't curb the corruption only the people at important positions wuld change and that sead group wuld get even more powerfull and biger so that why it's important to purge all the corupt parties and start making new parties less nacionalistic, corupt and mostly by yunger people but also it's hard for me to imagine this one group becuse in a way there must be power sharing betwen the three nacionalistes (Croats, Serbs,Bosniaks) becuse if one group falls on the short stick there culd be separatism and even an civil war
@@quintessenceSLThey don't curb corruption, the Politicians work together to enrich themselves in private while fighting in Public to make Foreigners think that ethnic tensions are a big enough problem for them to force us to keep the Politicians.
In regards to my country, Bulgaria: In 1999 (2nd Yugoslav War) the government gave permission to NATO to use Bulgarian air space to carry out operations against Serbia, which played a role in officially joining NATO in 2004, while the mafia made millions smuggling gasoline and firearms through the 90s in violation of the embargo.
Pretty much the same bro, they all lost, everyone got wrecked. No real winners in war. Bosnia happens to have had some of the worst fighting and infrastructure destruction out of the former Jugoslavijan countries. The best economies are the least affected by the war which is expected. Slovenia for example. For whatever GDP is worth, which isnt much but Bosnia happens to have the highest GDP growth of all the former Jugoslavijan countries.
first of all I love your videos but to get out some constructive Criticism for your ratings. I do not think its fair to rate countries by their overall GDP because the smaller the country its basically fucked by that already. Plus I also think you should bring in some rating like how workers are doing in that economy(maybe like life expectancy or most liveable city or smth=just random thoughts) because they are participating as well and if some country chooses not to go full on capitalist mode and gives more rights & freedoms to workers naturally there will be some suffering in that country`s gdp
Because they see that our country is unfortunately gonna turn into a shithole is something isn't done about it. I love Bosnia. I live here and I'm not ready to leave it. It's the politics that ruined everything.
Because west propaganda want to neglect Serbian population in B&H, talks about genocide and partition of a country, while west took part of Serbia's territories, and no one talks about it.
@@RealEpikCartfrenYTjust give independence to the Serbs and Croats and live peacefully developing the economy without problems associated with them lol
I recomend going on vacation in Croatia, but taking a drive through Mostar and Sarejevo, B&H. For a really weird experience you can stop in Titos bunker on the way (they still praise him in Bosnia). The people of B&H are so friendly!
I just went to Croatia for a family wedding. Croatia is suffering from declining population 5m -> 3.8m. By joining EU, Croatians are going to work in other EU countries for higher wages. Digtial nomads from EU countries come live in Croatia because of the lower cost. Apartment rental prices have going up 200%; as are the house prices. The tourist areas count on imported temp workers, mostly from South East Asia countries. Most of the diaspora in Canada, Ireland, USA and Australia are not going back. Croatia needs a plan to "rebuild" and fast.
Well done, as a Bosnian I really find that you’ve accurately addressed the divided politics through the Dayton Accords and the mass exodus through decline in population
Although it's not the best industry, I do hope BiH can capture a good chunk of the tourist economy. Truly a beautiful country, currently in Montenegro and would rather be back in Bosnia
At the heart of this problem is ethnic nationalism. The entire political structure, which informs and shapes the economic conditions of the nation, is predicated upon ethnic groups who are incentivized not to give an inch to the other groups. Principles and ideals enshrined as national rallying points are the only way for heterogeneous societies to live together in a stable way.
The only country of new EU members Slovenia have 70% average of EU, thus was above Spain , Greece and Portugal and close to Italy. Slovenia miracle was that is avoided Yugoslavia war consequences and secondary even soviet times it focus manufacturing of high-value product, where rest of Yugoslavia still was resources, retail, construction, agriculture and low-value manufacture driven economy.
3:50 you forgot Distrikt of Brčko: it has its own government and acts basically like a third federal unit/entity. Also, it does not belong to any of the two entities. Funnily enough, unemployment is not a big issue anymore: so many people left the country and there is a huge demand for workforce in almost all sectors. Once safe jobs, like government etc, are not seen as a good opportunity anymore, which means all levels of governing are also struggling do hire proper workforce. It is a very interesting dynamics on the ground, but basically the country is paying the price for all wrongdoings 20+ years ago when the only way to get the job was to bribe someone in the government. Now nobody, who has some ambitions, doesn't want to work there. The key Bosnian issue is a high level of corruption at almost all levels. Beside that, the country is still quite isolated from the rest of Europe (infrastructure wise and economic movement), but that is slowly changing. Tourism industry is booming and banking sector is very stable and almost fully aligned with the EU normative framework.
Only reason that now there is so much less unemployment is that in Croatia,Bosnia,Serbia many young people left and that countries have like 30% less people then in 1990 .But its not just problem in ex Yu country ,like Bulgaria which is in EU for 15 year problem is even worster,like even with huge decline in population in Serbia for first time in history now Serbia has more people then Bulgaria
Regardless of the stats & rankings, Bosnia & Hercegovina has one of the best lifestyles in Europe. Great food, great people, breath taking nature and cash only economy! I hope they'll never get into the EU sh*thole!!!
@@tomgu2285 coping with what? I don't even live in BiH currently?? I have lived in a few different countries, and I hold a EU & Canadian citizenship, regardless of that from personal experience I can say that the quality of life is way better in BiH. And BiH is not for 9-5 & trust the government type of people..
@@porridgeramen7220 busses have cards, he meant that we don't use credit cards for everything, and honestly it's much better, last thing I want is my money to be constantly monitored, I rather make money on side
For such a short video there is lots of accuracy presented, so overall I give it a good marks, well researched and presented. Few things to add. The only way to succeed and provide a brighter future for all Bosnia people is to reduce the governments on all levels. This would be a monumental task since everyone there likes the power. Shrinking the governments would mean less taxes, less wasteful spending, and in return more foreign or domestic investments to jump-start the economy and especially manufacturing, natural food growing and exporting, natural resources and electricity exports, IT and tourism. The part I disagree with is EU integration. Bosnia doesn't need EU, I'll argue the opposite, to be a future success story (example Switzerland, and don't kill me for this, for seeing a huge potential there in the far far future). Big barrier to this is still nationalism/hate via blindly following elites/corrupted people on all sides.
I Have been to Bosnia and the people and the country were all so lovely and welcoming. They have amazing scenery and great coffee, I would definitely recommend a visit if you are in Eastern Europe Also i jumped off the mostar 20 meter bridge, i have to flex 😂😎
I recently turned 39 and lost my job, so I'm at a loss. What choices do I have for passive income given that I have 425K saved for an early retirement at 50, 10K in an HSA, and a property that might bring in an additional 200K?
I’m confused about whether to combine all my investment accounts into one. If I decide to do this, how should I go about it, and will there be any consequences I should be aware of? I also intend to sell my property, which could add an extra 200K overtime. Should I consolidate everything into one investment account, or diversify across several sectors?
These are important questions for a financial planner. I connected with mine at a NYSE summit, and with her help, my wife and I reallocated our 1.7M portfolio between a traditional IRA and a brokerage account. She’s been executing trades with our consent and has managed to recoup twice our crisis losses. We’re holding and cautiously navigating the market
Hey I am super impressed with your level of knowledge about Bosnia. The only Aussies I've met that had this much knowledge of Bosnia were two ASIO agents I met once. Nice job.
@@Gerd_G._Geldspeicher wrong, you call them Bosnians, but if you want full its Bosnian Herzegovinian. Bosniak is ethnicity. You need to educate yourself more. Also ethnics croatians and ethnic serbian are Bosnians that are born in Bosnia. Problem with serbians and croatians is that their ethnics and nationality call same. There you can see how rich history is of Bosnian Bosniaks.
@@covakoma1064 over 60% of the country dosent like then you try and accociete bosnians to them, no one realy wants to be called the same thing as thouse radical islamists
The problem is, the country may be one on paper, but in reality it is divided internally between two entities - Federation of BiH and the Republika Srpska, and three peoples. Also, it has a complicated bureaucracy, one of the most complicated systems in Europe. The only reason why BiH seems to be functioning is due to enormous international donations to keep the country going.
Its gross how casually people tend to use the word "Genocide" when speaking of balkan nations, yet no such thing ever registers for their ears in for example, turkey/russia/china....etc.
