The global year at a glance

Article Abstract:

There are likely to be a number of extremely significant events in 1996. There could possibly be a general election in the UK, where the Ulster Unionists, headed by David Trimble, could tip the balance of power away from the Conservative government. In the US, politics will be dominated by the presidential election, but this will not capture the interest of the general public. In the Middle East, Yasser Arafat looks set to declare himself president of Palestine, while the status of the peace talks between Syria and Israel will also be very important. The world economy will be rather insecure throughout 1996.

Politics, 1996 AD

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Growth 'set to fall' in OECD

Article Abstract:

The 25 member countries of the Organisation for Economic Co-operation and Development (OECD) will see lower economic growth in 1996 than originally predicted, according to a new OECD report. The UK economy is forecast to expand by only 2.4% in 1996, compared with the forecast of 3% made by chancellor Kenneth Clarke in his 1995 Budget. The current account balance is set to rise to 11 billion pounds sterling in 1996, double the forecast in the Budget.

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Japanese recovery in peril

Article Abstract:

The strong rise in the Japanese yen may endanger prospects for economic recovery. Expansion in fiscal 1995 is now predicted at only 0.2%, and even the most optimistic economists admit that recovery will not take place if the yen stabilises at a level stronger than 85 yen against the dollar. The Japanese economy has withstood appreciations of the yen in the past, but may not do so this time.

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