Word: oecd
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Grim thoughts from the OECD...
...with the World Bank, foresees a billion-dollar World Muslim Foundation, financed by oil-rich Middle Eastern states, that will organize and provide aid for poor Islamic nations that adhered to the faith even during its years of ebb and decline. Says he: "The Muslim countries need their own OECD...
Rising consumer confidence should boost demand, predicts the OECD, lifting total output of goods and services by 3.5% in Europe, vs. 2% in the U.S. Demand will also increase because West Germany and Japan are moving to stimulate their powerful economies, opening their markets to imports from less affluent trading partners. West German tax cuts and other expansive measures will amount to $8 billion this year...
...OECD concedes that some European economic blemishes remain. Its steel, shipbuilding and textile industries continue in distress. Unemployment stands to stay at a high 5¼% because the work force is increasing as fast as new jobs are being created. Consumer prices, the OECD report says, should rise 7% this year for the Continent as a whole, ranging from less than 3% in West Germany to nearly 11% in Italy...
...major industrial countries. It found that, largely as a consequence of the dollar's drop and rising world prices, the U.S. now enjoys the lowest production costs and highest profit margins of all the 24. Steeply rising U.S. export and import prices relative to all other OECD countries, including Japan and West Germany, provided U.S. manufacturers with ever widening profitability margins. The OECD analysts concluded: "Indeed, by almost every available indicator the United States seems to have become much more competitive internationally during the last five years...