Word: oecd
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...spending your way out of crisis has its limitations. Next year, Japan's public debt is expected to rise to 197% of GDP, according to the Organization for Economic Cooperation and Development (OECD). That would make Japan's debt ratio the highest among OECD nations and nearly twice that of the U.S. "If they spend money without reform, they can get growth," says Curtis. "But they will just increase the deficit and it won't be sustainable...
...created in sufficient numbers to swiftly bring the jobless rate back down again. But ask him about the German short-work measures, and he's skeptical. "They can't stop rising unemployment," he says, "they just delay it." Indeed, in its latest economic forecast released March 31, the OECD expects unemployment in Germany to rise from its current 8.6% to 11.6% by the end of 2010 - higher than many of its European neighbors - despite the special job-preservation measures. The organization expects Japan's unemployment rate will also rise, although less dramatically, to above 5.5% next year from...
...minute to derail the consensus so devoutly wished for by all parties, centered on tax havens. Sarkozy was determined that a list of tax havens that refuse to provide information to foreign tax authorities on request should be published immediately by the Organization for Economic Co-operation and Development (OECD) as part of a clampdown on such havens. China, not a member of the OECD, was stalling because of its concern that such a list might include Macau and Hong Kong, which have both recently moved to implement OECD standards. The U.S. President took Sarkozy aside, then Chinese President...
...Recently The Wall Street Journal reported that "Goldman Sachs estimates that China's economy grew 2.6% in the October-December period from the July-September quarter. The OECD puts the quarter-on-quarter growth for the same period at 0.3%." The numbers are telling in two ways. The first is that estimates of economic activity on the mainland are imprecise. The second is that China's growth rate may have already have slowed considerably...
...Brazil, the old joke goes, is the country of the future - and always will be. Now, in the middle of the worst global downturn for decades, Brazil could finally be the country of the moment. According to a recent study by the Paris-based Organization for Economic Cooperation & Development (OECD), Brazil may be the only one of 34 major economies that avoids recession in 2009. While the U.S. debates whether to nationalize its crippled banks, Brazil's remain comparatively sound. Oil companies worldwide are slashing investment, but Brazil's state-run Petrobras is going ahead with a four-year...