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2019 OECD Economic Outlook, Volume 2019 Issue 2

image of OECD Economic Outlook, Volume 2019 Issue 2

The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, a series of focus notes on selected macroeconomic and structural issues, and a chapter summarising developments and providing projections for each individual country.

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Focus Note 1: Addressing current trade tensions: Market-distorting government support

The causes of current trade tensions are complex, but have their roots in widespread frustration that the international rulebook has not kept pace with economic and technological changes, and not everyone is playing by the existing rules. While there is no shortage of concerns – from border restrictions, and behind-the-border regulations that can impose unnecessary costs on traders, to new restrictions on the cross-border data flows that underpin trade in the digital era – particular attention has focused on government support that distorts international markets. This support is both long-standing – in the case of agriculture – and more recent - in the case of industrial products – but in both cases appears to be sizeable.

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