Obama calls for global economic cooperation

President Obama will discuss the economic downturn with other world leaders next week at the Group of 20 meeting.
President Obama reached out to citizens of the world Tuesday, saying in an op-ed piece that ran in 31 newspapers around the globe that there is an urgent need for worldwide economic cooperation.

Obama’s move comes ahead of next week’s Group of 20 meeting in London, England, in which leaders of the world’s richest nations will discuss the global economic downturn. “My message is clear,” Obama wrote. “The United States is ready to lead, and we call upon our partners to join us with a sense of urgency and common purpose. Much good work has been done, but much more remains.” The president is scheduled to hold his second prime-time news conference at 8 p.m. ET Tuesday. In the op-ed, Obama spoke about the upcoming G-20 meeting, saying that world leaders have to work together. Watch as the White House press secretary outlines Obama’s economic strategy ยป “We are living through a time of global economic challenges that cannot be met by half measures or the isolated efforts of any nation,” Obama said. “Now, the leaders of the Group of 20 have a responsibility to take bold, comprehensive and coordinated action that not only jump-starts recovery, but also launches a new era of economic engagement to prevent a crisis like this from ever happening again.” The president also pointed out that although the United States is separated by two oceans from most of the rest of the world, a global economy renders those geographic distinctions moot.

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“Once and for all, we have learned that the success of the American economy is inextricably linked to the global economy,” Obama said. “There is no line between action that restores growth within our borders and action that supports it beyond.” Next week’s G-20 summit will be Obama’s first meeting as president with many of the world’s leaders. He will meet many of the Western Hemisphere’s leaders at the Fifth Summit of the Americas next month in Trinidad and Tobago.