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Question

Would you expect to find a higher standard of living in the Baltic states or in the border nations? Explain.

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The Baltic countries, which are Estonia, Latvia and Lithuania, have access to the Baltic Sea and thus a very good location, along the main trade routes. After gaining independence from the Soviet Union, these countries significantly developed their economic skills by privatizing state-owned enterprises and companies. The development of new types of industries such as telecommunication industry, shipbuilding, production of machines, motor vehicles, pharmaceuticals, and electrical equipment has a great contribution.

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