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2007 OECD Economic Outlook, Volume 2007 Issue 2

image of OECD Economic Outlook, Volume 2007 Issue 2
Twice a year, the OECD Economic Outlook analyses the major trends and examines the economic policies required to foster high and sustainable growth in member countries. Developments in major non-OECD economies are also evaluated. This issue covers the outlook to end-2009. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments. In addition to the themes featured regularly, this issue contains a special chapter entitled Corporate saving and investment: Recent trends and prospects.

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China

After moderating in the second half of 2006, economic growth has accelerated again and is expected to reach almost 11½ per cent in 2007, leading to a widening of the output gap. The inflation rate is projected to increase to around 4½ per cent in 2007 and stabilise thereafter as weaker food prices are estimated to offset accelerating non-agricultural prices. Despite continued strong export growth, output is likely to slow in 2008 and 2009 as imports accelerate. Nonetheless, the current account surplus is projected to rise from around $350 billion in 2007 to over $500 billion in 2009, passing from 11¼ to 11¾ per cent of GDP

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