What is the state of the global economy?
The OECD, the organization of rich countries, released its latest edition of the World Economic Outlook (WEO) last week.
It was the first time that it had produced a comprehensive survey of the economy since the OECD began publishing its annual reports in 2005.
For many, the report will be a wake-up call about the state and trajectory of the entire world economy.
The World Economic Forum, which was founded in 1957 by the OECD to provide a forum for global economic coordination, has been criticised for a lack of transparency and for having too many unelected members.
“The report is not about the future but rather about the past,” said OECD President Sergio Marchionne.
“We have to make a better job of managing the world’s resources and the problems that we face.
What’s the state?
What are the challenges we face?
How do we make our economies more competitive?
How can we improve the governance structure of the rich world economy?”
In the report, which is being released for the first year of its existence, the OECD also released some key findings, such as that: The number of new businesses and households has shrunk by over a third over the last 15 years, from 3.6 trillion in 2009 to 3.3 trillion in 2021.
At the same time, the number of countries in the global labour force has risen from 536 million to 619 million.
And the global debt is now the second-highest in the world, at $18 trillion, up from $11.3tn in 2020.
So what is the real state of global economy, and what is happening to it?
In 2017, the United Nations Economic and Social Council, the organisation of the richest countries in terms of gross domestic product, said that the world was now experiencing the greatest level of unemployment in history.
In 2016, it said that there were 6.5 million people without jobs, which has now increased to 8.6 million.
“The unemployment rate is now at its highest level since the mid-1980s,” said UN Secretary-General Antonio Guterres.
There were more than 5 million people in debt, with $1.2 trillion of it due to unpaid bills.
More than half of the debt was owed to China, which had an interest rate of more than 8 percent, compared to less than 3 percent in the United States and less than 1 percent in Germany.
On top of this, the world is facing a $1 trillion global debt-to-GDP ratio, and a total of $1,200 trillion in liabilities.
Is there any way to fix this?
“I am concerned about the financial crisis,” said Marchionnne.
“[But] there is also the question of how to reduce it, because it’s already in a state of extraordinary crisis.”
In a country where a quarter of its people do not have jobs, unemployment rates have been rising in some areas, but they are still far below levels in the 1990s.
But there are signs that some countries are making headway, including in the US, where the unemployment rate dropped to 7.5 percent in January and is now below 6 percent.
One thing that is clear, however, is that there are some signs that the global financial system is coming to terms with the problems it is facing, and is moving towards sustainable growth.
That is a message that will be particularly important in the future, given that the OECD predicts that global GDP will grow by about 5 percent in 2025, which would be a very impressive figure for any country.
How do we manage global resources?
One of the biggest challenges facing the world right now is the growing number of people in poverty around the world.
According to the World Food Programme (WFP), the world lost a record 4.9 billion people in 2016, the highest number since records began in 1949.
Despite the enormous number of those who are affected, there is not much that can be done about the problem.
WFP has launched a programme called Food and Poverty in 2025 to try and tackle the global hunger crisis.
This involves setting up an array of projects that will provide food to more than one billion people.
Another issue that needs to be addressed is the lack of development and education around the globe, which leads to inequality, especially in developing countries.
If the world really wants to be more inclusive, it needs to take on more of the burden for tackling hunger, which also affects women and children.
Who will be impacted?
With the economic crisis, many countries are struggling with the same challenges, such in the region.
Among the biggest concerns are the effects of the Zika virus, which caused microcephaly, an extremely rare birth defect in babies.
While there have been some advances in Zika testing in the past, the