Steve Arnold: Feb 19, 2016 The OECD slashed its 2016 world growth forecast, from 3.3% estimated last year to just 3%. The performance of all the world's top economies is being estimated down: the US to 2% growth in 2016, the UK 2.1%, Germany a measly 1.3%. The organization is calling on governments to coordinate their economic action – ah! Even the EU can't do that... – to stimulate demand and help bolster investment, trade and wage growth, rather than expect central banks to do their thing. "Monetary policy cannot work alone. A stronger collective policy response is needed to strengthen demand." China is done opening up. The pendulum is swinging far back as the Ministry of Industry and Information Technology issued new rules, effective next month, banning all foreign media from publishing online in China. No foreign company or sino-foreign venture may publish any text, image, video, audio, map, game... and Chinese companies will need to apply for a license and adhere to strict self-censorship rules. So we're not talking just news outlets but also companies like Amazon, Netflix or Sony Playstation. How much these rules will be enforced is a matter for debate.