Complacency by policymakers and a “crisis of trust” in politicians, banks and multinationals are the biggest risks to the global economy this year, the head of the Organisation for Economic Co-operation and Development (OECD) told CNBC.
The warning from OECD Secretary-General Angel Gurria came as the 34-country organization released its annual economic outlook, trimming expectations for global growth for this year and predicting “moderate” economic and trade expansion.
It also forecast a slowdown in the Chinese economy, warned of only modest declines in unemployment and stressed that tighter financial and credit conditions would weigh on emerging economies.
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