November 9, 2012 |
The United States can kiss its position as the world's largest economy goodbye in a few years, as China and India outrun it, according to new projections by OECD. Over the next five decades, the global balance of economic power will “shift dramatically,” according to a report from the group , which is known officially as the Organization for Economic Co-Operation and Development. As early as 2016, China's economy will exceed that of the U.S., as will India's down the line, according to the forecast, which made its calculations using purchasing power parity.
June 21, 1996 |
The U.S. economy is growing robustly, Japan seems well on the road to economic recovery and Europe could join them with an upturn later this year, but unemployment remains a worry, the Organization for Economic Cooperation and Development said Thursday. The OECD said in its semiannual Economic Outlook that it expected growth in its 27-member countries to average 2.1% this year, marginally more than last year. Growth is seen rising to 2.5% in 1997.
December 22, 1989 |
Economic growth in the industrialized world will continue for an eighth straight year in 1990 at the start of a decade that promises far-reaching if unpredictable changes, the OECD said Thursday. The 24-nation think tank said in its latest semiannual outlook that economic reform in Eastern Europe should benefit both East Bloc countries and their trading partners in the West.
May 25, 1995 |
After a two-day lobbying blitz among the world's richest nations, the United States and Japan both claimed moral victory Wednesday in their trade dispute. The annual ministerial meeting of the 25-nation Organization for Economic Cooperation and Development provided no grounds for optimism that a solution to the row over automobile parts is in sight. "We don't want to fight," U.S. Commerce Secretary Ronald H. Brown said.
June 9, 1994 |
Secretary of State Warren Christopher on Wednesday called on the Organization for Economic Cooperation and Development--often known as the West's "rich man's club"--to expand its vision and mandate to accommodate the post-Cold War world. "We cannot allow new divisions to arise. Europe must not be split into zones of prosperity and poverty, stability and insecurity," he said at the OECD's annual ministerial meeting, where Mexico became the group's first new member in more than 20 years.
May 23, 2012 |
BERLIN - If it seems to German Chancellor Angela Merkel that the world is against her, she may be right. Her insistence that debt-ridden European nations cut their way out of financial crises helped cost her conservative political party two state elections this month, exposed her to criticism as an inflexible taskmaster across the Eurozone and unleashed a torrent of anti-austerity venting that has toppled like-thinking national and regional leaders...
September 1, 2009 |
The approach of a powerful hurricane on Monday prompted officials to move an international tax gathering away from Baja California. The Organization for Economic Cooperation and Development said the two-day meeting would be shifted to Mexico City today and Wednesday to avoid possible dangers from Hurricane Jimena. The group was to have met in Los Cabos, on the southern tip of the Baja California peninsula, which stands in the likely path of the storm. Jimena, a Category 4 hurricane with top sustained winds of 155 mph, churned well off Mexico's Pacific coast on Monday as it moved slowly toward Baja California.