• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

2

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

3

Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'

1

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

2

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

3

Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
FinanceOECD

Here’s What Rich Countries Need to Do to Sustain Global Growth

By
Lucas Laursen
Lucas Laursen
Down Arrow Button Icon
By
Lucas Laursen
Lucas Laursen
Down Arrow Button Icon
November 22, 2018, 7:38 AM ET
Add Fortune on Google for similar content.

Global growth should continue for the next two years, the Organisation for Economic Co-operation and Development (OECD) said Wednesday [full report PDF], but it has revised forecasts down for some richer countries, including Germany, France, and Italy. Signals are mixed, but many forecasters agree that the U.S. is also going to experience weaker growth in the next 12 to 18 months — if not an outright recession.

Global GDP growth may dip from 3.7% this year to 3.5% in 2019 and 2020, the OECD predicts. While slowing growth is a natural part of any economic cycle, the OECD says that trade tensions between the U.S. and China have made things worse. It also warns that Brexit has contributed to uncertainty in Europe.

Instead, the OECD urges “policymakers to restore confidence in international dialogue and institutions”. It also repeated previous calls for the completion of the European Monetary Union.

In addition to its focus on building better bridges between countries, this semester’s forecast had a special focus on ways that workers can themselves gain from economic growth.

“Shoring up the global economy also involves responding to people’s concerns about the lack of improvements in wages, living standards and opportunities,” OECD chief economist Laurence Boon said in a statement. “Promoting competition to improve business dynamics can help by increasing workers’ bargaining position.”

So can better education of workers and promoting their movement among different companies. Silicon Valley giants, for example, colluded to keep their workers wages low until a federal judge ordered them to compensate workers for it. Now, they are pursuing other means of coercing their employees into docility.

In the meantime, emerging markets such as Indonesia are growing at 5%, China is growing around 6%, and India around 7%. If rich countries are going to stop dragging down the global average, they may have to learn to loosen up, reduce the power of corporate monopolies, lower barriers to entry, and return economic gains to workers and consumers, The Economist wrote last week.

About the Author
By Lucas Laursen
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Amazon Prime Day isn’t a midsummer shopping event anymore. Here’s what changed in 2026
RetailAmazon
Amazon Prime Day isn’t a midsummer shopping event anymore. Here’s what changed in 2026
By Vidhi Choudhary and Retail BrewJune 23, 2026
3 hours ago
Tom and Diane Peterman pose outside their home at Black Lake on Wednesday, April 29, 2026, in Grant Township, Mich.
EnvironmentNatural disasters
FEMA told these families they weren’t in a flood zone. Then ice came through the windows
By Tammy Webber, M.K. Wildeman and The Associated PressJune 23, 2026
3 hours ago
Quantum computing stocks surge after Trump signed executive orders backing the sector
Investingquantum computing
Quantum computing stocks surge after Trump signed executive orders backing the sector
By Marco Quiroz-GutierrezJune 23, 2026
4 hours ago
Alan Greenspan testifying before the Senate Banking Committee.
BankingFederal Reserve
The man who invented the Fed’s magic trick just died. His successor is about to try it again
By Eva RoytburgJune 23, 2026
5 hours ago
data
EnergyData centers
AI’s power hunger is turning electric utilities into Wall Street growth stocks — and customers may pay the price
By Conor Harrison and The ConversationJune 23, 2026
6 hours ago
k
PoliticsElections
Coming to an election near you: prediction markets
By Matt Motta, Robert Ralston and The ConversationJune 23, 2026
7 hours ago

Most Popular

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
14 hours ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
12 hours ago
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
Success
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
By Sydney LakeJune 21, 2026
3 days ago
Current price of oil as of June 22, 2026
Personal Finance
Current price of oil as of June 22, 2026
By Joseph HostetlerJune 22, 2026
1 day ago
By 7 a.m., Bank of America’s CEO has already read 5 newspapers, his email inbox, and hit the gym—he says if you’re late to meetings, you’re ‘selfish’
Success
By 7 a.m., Bank of America’s CEO has already read 5 newspapers, his email inbox, and hit the gym—he says if you’re late to meetings, you’re ‘selfish’
By Preston ForeJune 22, 2026
1 day ago
Current price of silver as of Monday, June 22, 2026
Personal Finance
Current price of silver as of Monday, June 22, 2026
By Joseph HostetlerJune 22, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.