Mathias Cormann
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Report: Disruption of Mideast energy supplies into next year would slam global economy
Report: Disruption of Mideast energy supplies into next year would slam global economy Prolonged disruption of energy supplies from the Middle East that lasts into next year would deal a severe blow to the global economy - Bookmark Prolonged disruption of energy supplies from the Middle East due to the Iran war would deal a severe blow to the global economy, sending some countries into recession and spreading inflation and higher unemployment, the Organization for Economic Cooperation and...
Global steel crisis deepens as oversupply reaches alarming levels, OECD warns
The global steel industry is facing a growing crisis as subsidised production and excess capacity continue to distort markets, according to the OECD. It says state-backed steel production, particularly in China, is increasing pressure on producers in Europe and other OECD economies. Global steelmaking capacity continues to expand despite weak demand, threatening to push prices lower and distort competition.
China's state subsidies up to eight times more than OECD's, report says
Chinese state subsidies have hit record levels, climbing to nearly 10% of company revenue in the chip sector and distorting markets, according to a new OECD report, published as the EU mulls new measures to counter Beijing's aid. Chinese companies received between three and eight times more subsidies than Western firms between 2005 and 2024, according to a report published on Monday by the Organisation for Economic Co-operation and Development (OECD). The findings come as European...