EMERGING MARKETS ANALYSIS: Why EU enlargement to the east causes problems for Spain
European Union expansion in 2004 shifted the continent's industrial centre of gravity to the east. The new central European EU members, countries such as Poland, the Czech Republic, Hungary and Slovakia, have gained industrial sophistication since the Iron Curtain came down. And crucially, they have maintained their low cost advantages in terms of land and labour costs, writes Mark Bursa.
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