Chart of the week: two neighbours grow apart

GDP of Ukraine & PolandSince the collapse of the Soviet Union, Poland’s GDP per head has more than tripled to over $20,000. Ukraine’s has crept up from $5,000 to around $8,000.

It shows how solid governance and economic integration makes countries richer.

Poland’s transition to democracy and the free market was relatively smooth and trade ties were cemented by EU entry in 2004.

Ukraine is still a corrupt oligarchy reliant on foreign aid, and is years away from joining Europe.

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Bill Bonner: hold on to your cash, the real financial crisis is yet to come

Merryn Somerset Webb talks to Bill Bonner about economic cycles, and the 'catastrophic credit crisis' that will make 2008 look like a picnic.


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4 March 1890: The Forth Bridge is opened


The Prince of Wales, later Edward VII, opened the longest bridge in the world – the Forth Bridge, nine miles west of Edinburgh, on this day in 1890.