The Organization for Economic Cooperation and Development (OECD) released an economic outlook report on the 29th, predicting a global economic growth of 2.9% in 2023, lower than the previous forecast of 3.0%. The Chinese economy is expected to grow by 5.2%, higher than the previous forecast of 5.1%. The report points out that with the increasing impact of necessary monetary policy tightening, weak trade, and declining business and consumer confidence, global economic growth remains moderate. The global gross domestic product (GDP) growth rate is expected to be 2.9% in 2023, slow to 2.7% in 2024, and slightly improve to 3.0% in 2025. It is expected that from 2024 to 2025, Asia will continue to contribute the majority of global economic growth, just like in 2023. The report predicts that the US economy will grow by 2.4% and the Eurozone economy will grow by 0.6% in 2023. OECD Secretary General Coleman stated that the global economy continues to face the dual challenges of low growth and high inflation, and it is expected that growth will slow down moderately next year. The inflation rate has fallen from last year's peak, and it is expected that by 2025, the inflation rate of most economies will return to the target level of central banks. In the long run, government debt will significantly increase, and the government needs to increase its efforts to rebuild fiscal space while promoting growth. Claire Lombardelli, Chief Economist of the OECD, pointed out that global trade weakness has led to missed growth opportunities for the world economy, especially those brought about by expanding trade in services. "We must revitalize global trade. The resilience of the global value chain is best achieved through diversification, rather than through protectionist and introverted policies." (Xinhua)