Global economic growth is projected to stand at 2.9 percent in 2026 and 3.0 percent in 2027, according to the Economic Outlook Interim Report released by the Organization for Economic Cooperation and Development (OECD) on Wednesday.
Growth in the advanced G20 economies, as well as in the G20 emerging-market economies, is projected to remain broadly stable, the report said.
The report also forecasted inflation levels for the two years, predicting that some major economies will see price rises that outstrip global growth levels. G20 headline inflation is expected to rise from 3.4 percent in 2025 to 4.1 percent in 2026, before easing to 3.6 percent in 2027.
In the advanced G20 economies, headline inflation is projected to rise from 2.5 percent in 2025 to 3.2 percent in 2026, before falling to 2.6 percent in 2027, while in emerging-market G20 economies it is expected to increase from 4.1 percent to 4.8 percent before easing to 4.3 percent.
The OECD noted that the projections are based on a technical assumption that Brent crude prices and TTF gas prices will peak in the fourth quarter of 2026 and then decline steadily through the end of 2027.
The assumed Brent crude price path is broadly consistent with the "short disruption" scenario in the OECD's June 2026 Economic Outlook, while the assumed gas price path is about 60 percent higher.
Persistent uncertainty over the evolution of the conflict in the Middle East remains a key risk to the baseline projections, the OECD warned, adding that constraints on exports through the Strait of Hormuz, additional disruptions to alternative export routes such as the Bab al-Mandeb Strait, or further significant damage to energy production facilities in the region could prompt a further sustained rise in energy prices and potentially lead to shortages of key commodities, particularly in net importing countries.
Low European gas reserves and uncertain scope for sustained further reductions in oil inventories in some countries could exacerbate supply disruption risks.
Further monetary policy rate adjustments may be needed, the OECD said, noting that faced with renewed energy price shocks, stronger-than-expected demand pressures, and above-target inflation in many economies, central banks need to ensure that underlying inflation pressures are durably contained.
The OECD also called for further structural policy reforms to help economies cope with future supply shocks, including diversifying energy supply, improving energy efficiency, enhancing product and labor market adjustment, and ensuring workers have adaptable skills.
Global economic growth projected at 2.9 pct in 2026: OECD
Students from U.S. universities have expressed profound excitement after receiving a reply letter from Chinese President Xi Jinping, vowing to deepen friendly ties and cultural exchanges with China. Recently, nearly 100 students from Harvard University and nine other U.S. universities wrote to Xi, sharing their experiences and what they had gained from the Future Makers 2026 China-U.S. Youth Tour for a Shared Asia-Pacific Future and other exchange events in China, and expressing their willingness to contribute to promoting China-U.S. friendship.
A reply has arrived, just before Xi's state visit to the United States.
In his letter, Xi welcomed the students' appreciation for Chinese civilization, their hope for friendly cooperation between China and the United States, and their willingness to act as envoys of friendship bridging the Pacific Ocean.
Noting that young people from both countries share the same planet Earth and jointly shoulder the mission of the times, Xi urged them to advance China-U.S. friendly cooperation, foster mutual understanding and affinity between the two peoples, and contribute the vitality of youth to building a better world.
After returning from their trip, students at Central Michigan University agreed that they had come home with a renewed perspective. Now that they had actually set foot in China, what they saw was more concrete than what they had previously learned from the classroom, books, or the internet.
"I've only really learned a lot about China in class through my studies, through books, and actually going there to experience China was completely different. You never really know what a culture is like until you go and experience it yourself. So going there and actually stepping on the ground and talking to people and learning about their lives was just so much more than I could ever have learned in a book," said Kiana Haywood, a senior student at Central Michigan University.
"When I got there, I learned that we were all actually very much more similar than we thought. We found that American and Chinese students were so unbelievably closely related. We found that we have the same humor. We have the same stress. We share so many things in common that we had just not known about," said Kevin Baker, a sophomore at Central Michigan University.
Since President Xi launched an initiative to invite 50,000 young Americans to China for exchange and study programs over a five-year span in November 2023, over 50,000 young Americans have visited China, achieving the target two and a half years ahead of schedule.
The university students recognized that the initiative had helped bring their exchange trip to China into reality, so they wrote to Xi, hoping to express their gratitude and to let the Chinese president know what the experience had meant to them.
"I think doing what we are doing right now and just kind of spreading that message, really emphasizing the importance of programs like these," said Grace, another student from Central Michigan University.
"We wrote a letter because we kind of want to just help him realize like how amazing the experience was that we were able to participate in and just tell him we need more opportunities like these," said Haywood.
Xi's reply encouraged the students to continue seeking exchanges, building on the experience they had through the program. That message resonated deeply with the participants.
"I think the part where he talked about how important it is to continue this exchange, and that made me think about the students that we met and making sure we continue the friendships that we built on this trip because I was the whole point of the trip, really getting to experience each other's culture," said Grace.
Speaking of the meeting between the two heads of state, the American students said they hope it will promote more exchanges between the two countries.
"I think it's going to be a really great opportunity, especially because we can continue talks about a shared future between our two nations, especially because with how the world is, we do really want to have that strong connection to other nations right now," Baker said.
U.S. students vow to deepen friendly ties with China after receiving Xi's reply letter
