Angel Gurría, Secretary-General of the OECD

When leaders of government, international organisations and civil society from around the world gather for critical discussions at the OECD summit meetings in Paris this June, one question will dominate the agenda: Is enough being done to restore confidence and long-term growth, and break the grip of the worst global crisis of our times?

©Aladin Abdel Naby/Reuters

Environmentally-friendly investments form part of many recently launched recovery programmes. With the right policies, they could achieve growth and a cleaner planet as well.

©Charles Platiau/Reuters

2008 will be a decisive year in the battle against climate change. Hopefully, it will see us forge an international consensus so an agreement can be reached in Copenhagen in 2009 that will allow us to build on the Kyoto Protocol.

We hear again and again that we must choose between having a stable climate and having a strong global economy. This is a false choice.

©David Rooney

Harsh financial reality often rides roughshod over good intentions when it comes to corporate and national balance sheets. Climate change is no exception, for though it may rouse worldwide concern, it also makes people uneasy because of how much it might cost and who should pay.

With the world economy today experiencing turbulence on a number of diverse fronts, OECD countries are preoccupied with meeting these challenges.

The economy has been operating above its estimated production potential, but is expected to decelerate noticeably in the short term as lower external demand and the marked currency appreciation damp activity. Yet growth is likely to rebound quite rapidly once the effects of these international factors disappear. A slowing in commodityprice increases, the federal goods and services tax cut and the stronger Canadian dollar should contribute to a temporary decline in inflation.

Click to enlarge. By Stik, especially for the OECD Observer.

Click to enlarge. By StiK, especially for the OECD Observer.

The smooth introduction of euro banknotes and coins will not guarantee the new currency's economic success. That will depend on structural reforms and completing the European single market. 

Boston Tea Party: Americans throwing cargoes of the tea ships into the River, at Boston, 1773. ©W.D. Cooper

Newness in politics has a long and eventful history. Globalisation and the battle for and against are no exception, as the events of the late 18th century show.

Globalisation has highlighted the need to take a closer look at challenges, from reducing pollution to tightening disease control, whose consequences are shared across the world. But if we are to make best use of such global public goods, we need to understand how they work and how to measure them.

Fears that neither the political will nor the mechanisms exist to combat the problems posed by climate change emerged strongly at a panel on sustainable development and climate change held as part of the OECD Forum 2000 in Paris on Tuesday.

Economic data

GDP growth: +0.6% Q3 2017 year-on-year
Consumer price inflation: 2.3% Sept 2017 annual
Trade: +4.3% exp, +4.3% imp, Q3 2017
Unemployment: 5.7% Sept 2017
Last update: 14 Nov 2017

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