The world may have a bigger problem than a potential recession, OECD warns

Beyond how climate events harm the economy, how governments regulate and respond is also having an impact. Foto: AP/Rodrigo Abd

The global economy is stuck in a rut that it won't exit unless governments revolutionize policies and how they invest, rather than just hoping for a cyclical upswing, the OECD said.

The latest outlook and policy prescriptions from the Paris-based group mark a step beyond its repeated warnings about threats to growth from U.S.-China tensions, weak investment and trade flows. Those remain, but it also flags more systemic challenges from climate change, technology and the fact that the trade war is just part of a bigger shift in the global order...

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