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The region has been one of the most dynamic and fastest-growing areas in the world. GDP is projected to grow by 5.4% per year on average during 2014-18, and significant gains have been made in terms of poverty eradication and human development. But more should be done to ensure sustained growth and continued convergence in living standards towards the mature economies, said OECD Secretary-General.
Going abroad opens new markets for firms, and helps them to become more productive, innovative and ultimately more successful in their business. International investment is also the fuel that helps run the global economy’s engine. But these positive outcomes will only materialise if appropriate framework conditions are in place that allow all companies to compete in a fair and transparent manner, said OECD's Gurría in Beijing.
Reassessing the way in which China grows and placing equity at the centre of the 13th Five Year Plan growth strategy will help to ensure China’s long term growth prospects, giving every citizen the chance to lead a prosperous and fulfilling life, said OECD Secretary-General in Beijing.
China is currently strengthening its social safety nets and creating a modern welfare state. A minimum income standard is in place for all residents, and nearly everyone benefits from at least some measure of health insurance. But going forward, further reforms are needed to meet the demands of an increasingly urban population, said OECD Secretary-General in Beijing.
Corruption undermines trust in policy, it erodes the quality of public administration, and it distorts incentives, taking its toll on investment and growth. Corruption also locks in privilege and inequality, and it can be a factor of oppression. In short, we must stop it, said OECD Secretary-General.
The Czech Republic has made impressive progress in terms of living standards since it joined the OECD 20 years ago, but significant room for improvement exists in several areas. As the external environment is not especially supportive at present, the Czech Republic needs to mobilise domestic drivers of growth to further close the income gap with advanced economies, said OECD Secretary-General.
The core message of this year's survey is that to sustain this momentum, and restore the income convergence process vis-à-vis European economies, the Czech Republic must strengthen its domestic economy. The successful growth model of the past, based on Foreign Direct Investments in export-oriented manufacturing and low labour costs, needs to be adapted and broadened, said OECD Secretary-General.
Mexico is upgrading itself, it is modernising its "operating system", generating a virtuous circle that places it amongst the most promising economies in the world. The structural reforms that the government of President Peña Nieto has promoted, together with a solid macroeconomic base, should in principle open up countless opportunities for the country's development, said OECD Secretary-General.
A broad agenda of reforms in four areas – labour markets, education, product markets and innovation – should strengthen Poland’s economy and allow it to continue its path of convergence towards the income levels of the more affluent OECD economies, said Angel Gurría during a seminar in Warsaw.