The whole year growth for total OECD area is foreseen at 2.7 percent in 2010 and 2.8 percent in the coming 2011, whereas euro area may record a growth of 1.2 percent in 2010 and 1.8 percent in 2011, the Paris-based OECD said Wednesday in its Economic Outlook.
The outlook confirmed impressive drive from emerging markets and accelerating growth in OECD area, however, it unlined that risks to the global recovery are higher now, given the impact of sovereign debts crisis and over-hearting in some emerging countries.
Positive signs are confirmed as rebound in trade, recovery in activity, bounced-back investment and restored household consumption, as spillover from growth in some areas could be "stronger than expected, especially in the United States and Japan," and "The overall economic environment is relatively auspicious," the OECD report said.
A relatively favorable indication is that the urge in unemployment has been smaller than previously initially, as OECD-wide unemployment rate peaked at 8.1 percent in 2009, but the labor market still lags behind the recovery, so that rate may reach 8.5 percent this year before decreasing to 8.2 percent in next year.
According to its estimation, the OECD area as a whole will witness 2.9 percent growth in gross domestic product in the second quarter of 2010, with increase of 2.4 percent and 2.5 percent respectively in the following quarters to the end of this year.
New risks posing challenge for policy makers includes development in sovereign debt, the "first substantive risk," and overheating in emerging-market economies, OECD underlined in its report.
The instability generated from debt issue "has spread to other euro-area members and sovereign debt markets in other parts of the world," and stronger tightening of monetary policy need to "counter inflationary pressure and reduce the risk of asset-price bubbles" in some non-OECD members, the organization added.
Once again, the organization urged for immediate exit from fiscal stimulating packages and called on government to do it by 2011 at the latest. It recommending all countries to orient spending to innovation and education. "Fiscal consolidation must be designed and implemented to support growth to the extend possible."
In recent years, the "smart city" has gradually become a hot topic, give the public a expectation on better future city life. In the international arena, has been more than 200 "smart city" projects are being implemented. Some domestic cities are taking positive action, Shanghai put forward that take advantage of urban wisdom to building a smart city, Wuhan in October last year, has taken substantive steps to construct smart city, Ningbo in September 2010 to make a decision on building a smart city, then introduced five-year Action Platform for the smart city construction. The city has also been classified as hubs of the province to build a central hub "smart city system. Conform to the wave of smart city, develop intelligent industry in the city to promote the construction of “two districts six cities ", the first to build a moderately prosperous society of a higher level to benefit the whole people, should play an active role.
An "intelligent life", and "smart city" is closer to us
Last year, two reports on Zhejiang may not seem like much, but let us smell the atmosphere of "intelligent life", see the dawn of the "smart city".
The first report: Ningbo held the first China Intelligence Fair, provincial ministries tripartite signed a "smart city" pilot cooperation agreement. September 2, 2011, China's first smart city Expo - 2011 China Smart City technology and application products Exposition "held in Ningbo. Three days exhibition, 310 enterprises participate in the exhibition, 16 total investment of 6.5 billion smart city cooperation projects located in Ningbo.