ECONOMIC CHANGES IN POLAND AND CHINA – CULTURE AS A LEADING INDICATOR.

Purpose: The article analyses two transformation variants: the Polish variant and the variant used in the People's Republic of China. This analysis was carried out in the context of the cultural background of both nations. The authors also tried to answer the question to what extent the reform programs of both economies, known as the Balcerowicz Plan and the Beijing Consensus, were culturally compatible and whether they impacted their effectiveness this. The article draws attention to the level of social acceptance of the transformation scenario adopted in the country and the role of both decision-making centralism and economic democracy in the conditions of a market economy. Methodology: The review of literature. Findings: As a result of the literature analysis, it was established that the reforms carried out as a result of the Balcerowicz plan took into account the cultural conditions of the Polish economy to a limited extent, which resulted in incomplete and delayed use of the potential of Polish social and intellectual capital. Chinese reforms, on the other hand, were carried out in a way that was more suited to Chinese realities, which, among other factors, enabled China to develop more dynamically without leading its economy to a periodic collapse caused by the transformation processes. Value of the paper: The article is analytical and synthetic in nature and is addressed to a wide audience, primarily to decision-makers managing the economy at various levels and to students of economics and management. The article is not only retrospective in nature, but also encourages deeper reflection on the future and may be helpful to managers in making economic decisions, in which they should take into account the cultural aspect to a greater extent than before. [ABSTRACT FROM AUTHOR]