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Weak financial conditions, fiscal consolidation and economic adjustment are restricting demand in the short-term before the long-term benefits on stability and growth are felt, Mr Gurría said. Decisive action to restore confidence and support demand is needed now, he added.
Over the last four years we have lived and worked under the impact of the greatest economic crisis of our lifetimes. Recent actions in Europe have cleared a bit the fog but the confidence in the markets is still shaky and the long-term growth perspective of Europe is muted.
OECD Secretary-General Angel Gurría condemned the attack that occurred yesterday in Toulouse, Southern France, which resulted in the death of three children and a teacher outside their school.
China and the OECD countries face increasingly similar challenges. We need to deepen our policy exchanges to share our expertise and accumulated experiences, to learn from one another, and to build cooperative solutions at the global level, said OECD Secretary-General.
The protests and social unrest which brought people out to the streets in many countries are a reminder that inequality is a major threat to our economies and to our wellbeing, said OECD Secretary-General.
Innovation is a central element of China’s reform agenda. Chinese innovations have benefited the world throughout history. Today, with the right policy mix, China could continue to inspire new scientific and technological advances, helping to revitalize the global economy.
While China's recent growth trajectory certainly has been notable, the country still faces a number of challenges to build a more inclusive economy as it attains higher levels of prosperity for its citizens, said OECD Secretary-General.
China is becoming an increasingly important player and we need more inclusive global governance so its contribution is crucial. The crisis offers a unique opportunity to build a stronger, cleaner and fairer global economy.
We have made some incredible progress from a time when bribes were considered just part of doing business and companies could claim them back as a tax deduction. But there is still a long way to go. One of our main challenges is ensuring enforcement, said OECD Secretary-General.
The triple shock that hit Japan on 11 March 2011 - combining an earthquake, a tsunami and a nuclear accident - has been the largest natural disaster in Japan. The loss and pain have been immense, but the spirit with which Japan has faced this crisis has been even greater, said Angel Gurría.