Word: oecd
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Dates: during 2000-2009
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Gdynia's success comes at a time of oversupply in the shipping industry worldwide and hard times generally in Eastern Europe's fledgling market economies. Wolfgang Hubner, head of the transport division at the Paris-based Organization for Economic Cooperation and Development (OECD), called the Gdynia yard's resurrection "astonishing. Everyone is pleasantly surprised--except its competitors...
...success owes something to the relatively low wages paid skilled workers. An experienced production worker at Gdynia earns about $775 a month, compared with $3,690 in Japan and $3,300 in the U.S. The yard's business got a boost last year when European governments, under an OECD-orchestrated plan, agreed to lift their subsidies from competing shipyards. But Szlanta emphasizes that Gdynia also benefits from a pool of several dozen leading engineers, who were trained at Gdansk Technical University's elite shipbuilding school and are considered among the best in the world...
...Time: The Bush Administration has shown contempt for the Kyoto environment accord, the OECD effort to curb tax havens, the abm treaty and the biological weapons deal. Are there perils in this approach? Solana: It is impossible for the U.S. to abandon its responsibilities. I am sure it will continue to engage in a good tone with the Europeans. In the coming week these things will become clear...
...Concerned about possible OECD sanctions and mindful of how being on the list could hurt business, the Manx government offered some concessions on issues like transparency. To general relief, the island has just heard it will not appear on a new blacklist due in July. Just the same, says Cashen smoothly, "Our commitment is qualified. We are prepared to change certain of our regimes provided there is an international level playing field, but we're not going to proceed unless others do." Those others, he says, must include OECD members, particularly Switzerland and Luxembourg...
...There is a feeling that double standards exist and that the OECD allows more leeway to its own members than to those outside. But the Isle of Man has made a pre-emptive strike of its own. It announced that taxes in general would come down, with the corporate levy slashed to 10% over the next few years and the top income tax rate falling from last year's 20% to 15%. Universally low taxes should pre-empt claims of ring-fencing...