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Scoop.it!
OECD boss Angel Gurría says the economic shock is already bigger than the financial crisis. 
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Scoop.it!
The OECD predicts growth of just 3% as a lack of direction on climate policy threatens investment.
Graham Watson's insight:
It's fascinating to see how climate change has become a live issue in the very recent past. In this case, the OECD have been explicit in suggesting that a global slowdown has, in part, been precipated by a failure to attend to climate change concerns, and that as a result investment is threatened.
Without a clear sense of direction on carbon prices, standards and regulation, and without the necessary public investment, businesses will put off investment decisions, with dire consequences for growth and employment," the OECD says - according to the article.
Their solutions? A mixture of government intervention and better use of the market to price carbon. "
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Thinktank upgrades its growth forecast but says tit-for-tat tariffs would make international trade vulnerable
Graham Watson's insight:
Neoclassical economists rejoice: the OECD believe that a trade war is likely to have an adverse effect upon global economic growth and possibly even derail a putative recovery. Who would have thought that a trade war would have this effect. Everyone bar the President of the United States, it would seem.
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Key maps and charts explain how the virus has impacted markets and businesses around the world so far.
Graham Watson's insight:
All you want to know about the global impact of coronavirus.
The demand for alarmist newspaper articles has risen - as has the demand for journalists to write them. Derived demand.
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Leading thinktank scales back forecasts and warns escalating trade war is denting investment
Graham Watson's insight:
"That's all folks!", according to the OECD which has scaled back growth forecasts in the light on the ongoing trade war, and its impact on investment among other things.
However, emerging market concerns, in Argentina and Turkey have also played a role.
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That's why they earn the big bucks!
The Head of the OECD, Angel Gurria, has suggested that the extent of the coronavirus is already larger than the 2008 financial crisis, and that the global economy is going to take time to recover.
It's making the OECD's already revised growth forecast of 1.5% for the year look somewhat foolish already. However, had he gone on to mention 'scarring' or the possibility of 'hysteresis' he might have moved into the top bracket of the mark scheme.