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2008 OECD Economic Outlook, Interim Report March 2009

image of OECD Economic Outlook, Interim Report March 2009

This interim OECD Economic Outlook analyses the current crisis and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2010 for both OECD and major non‑OECD economies. A particular spotlight is put on fiscal policy in a special chapter entitled The Effectiveness and Scope of Fiscal Stimulus. It addresses the following issues: How  governments in OECD countries changed the stance of fiscal policy in response to the crisis and What is the scope for additional fiscal stimulus in OECD countries to cushion the recession and help the recovery.

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China

Growth has slowed markedly in China, mainly owing to the sharp contraction in world trade. With a sizeable monetary and fiscal stimulus, activity is projected to pick up in the course of 2009 and 2010, although growth would remain below potential. In the process, some rebalancing towards domestic demand is projected to occur. Prices are expected to continue to decline as margins of slack widen.

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