Economy

Rising trade conflicts are weakening the global economy

OECD Chief Economist Laurence Boone says global growth is slowing as escalating trade conflicts are hitting business confidence and investment. Governments need to make use of low interest rates to renew investment in infrastructure.

Global growth continues to weaken and a no-deal BREXIT will be a large negative shock to the UK economy!

The Outlook calls on central banks to remain accommodative in the advanced economies, but stresses that the effectiveness of monetary policy could be enhanced in many advanced economies if accompanied by stronger fiscal and structural policy support. It says fiscal policy should play a larger role in Global Growth and supporting the economy, by taking advantage of exceptionally low long-term interest rates for wider public investment to support near-term demand and future prosperity. Greater structural reform ambition is required in all economies to help offset the impact of the negative supply shocks from rising restrictions on trade and cross-border investment and enhance medium-term living standards and opportunities.

Invest to avoid a low-growth future!
Laurence Boone

ECD Chief Economist Laurence Boone

OECD for Global Growth

The Organisation for Economic Co-operation and Development (OECD) provides a forum in which governments can work together to share experiences and seek solutions to common problems. OECD works with governments to understand what drives economic, social and environmental change. It measures productivity and global flows of trade and investment. The OECD analyses and compares data to predict future trends of global growth. It also sets international standards on all sorts of things, from the safety of chemicals and nuclear power plants to the quality of cucumbers.

The origins of the Organisation for Economic Co-operation and Development date back to 1960, when 18 European countries plus the United States and Canada joined forces to create an organisation dedicated to global development. Today, the 34 member countries span the globe, from North and South America to Europe and the Asia-Pacific region. They include many of the world’s most advanced countries but also emerging countries like Mexico, Chile and Turkey.

Monetary policy alone cannot do the trick
Valdis Dombrovskis

Is Eurozone ready if economy gets worse?

EU Debates! You?
Your opinion counts!

EUdebates Team

SHARE your ideas online and JOIN us for a better Europe. eudebates! Your opinion counts! eudebates.tv The unique initiative aiming to promote debate, dialogue, knowledge, participation and communication among citizens.

Recent EU debates

Watch State of the Union live: Ursula von der Leyen gives 2022 address #SOTEU

President Ursula von der Leyen debates priorities ahead of hard winter at the State of the European Union #SOTEU at…

2 years ago

EU steps up solidarity with refugees fleeing Ukraine

More than two million refugees have now been forced to flee their homes in Ukraine to find safety in neighbouring…

3 years ago

REPowerEU to get rid of the dependencies of Russian fossil fuel

The European Commission proposed an outline of a plan to make Europe independent from Russian fossil fuels well before 2030, starting with gas, in…

3 years ago

EU sanctions against Russia following the invasion of Ukraine

In response to Russian President Putin’s unprecedented and unprovoked military attack against Ukraine, the EU is responding by adopting a…

3 years ago

Finland: NATO membership ‘will change’ after Russian invasion

Finish Prime Minister Sanna Marin said Russia’s invasion of Ukraine will change the debate around NATO membership within her country.…

3 years ago

EU responds to Russia’s invasion of Ukraine with massive sanctions

EU leaders held a joint press conference with NATO Secretary-General sending the message that the world can see that unity…

3 years ago

We use cookies to ensure that we give you the best experience on our website.