News / USA

Obama: G8, G20 Nations Must Work to Re-balance Global Economy

President Obama arrives in Canada Friday for the G-8 and G-20 summits of the world's major industrialized nations.  VOA chief White House correspondent Dan Robinson reports, discussions at the G-8 will focus on development, economic, peace and security issues, and the G-20 summit will assess steps member nations are taking along the path of financial recovery.

After a working lunch of the G-8 on economic issues, the president participates in an outreach session with 7 African leaders, discussing development and maternal and child health issues.

Leaders from Haiti, Jamaica and Colombia will join the discussions, focusing on the drug trade between Latin America and Africa.  Later, a G-8 leaders-only dinner covers political and governance issues.  

G-8 leaders convene again Saturday morning at Muskoka, outside Toronto, to discuss peace and security issues, with a focus on Iran, North Korea, Afghanistan, Pakistan and the Middle East peace process, before a concluding news conference.

Senior administration officials say President Obama and other G-8 and G-20 leaders will work on ongoing steps to ensure a durable global economic recovery, and discuss financial regulatory reform, along with trade, climate change, energy security and energy subsidies.

At a White House news conference Thursday with Russian President Dmitry Medvedev, who will also be in Toronto, President Obama explained decisions he sees G-20 countries facing in order to sustain economic growth and re-balance the global financial situation.

"Not every country is going to respond in the same way but all of us are going to have responsibilities to re-balance in ways that allow for long-term sustained economic growth in which all countries are participating and hopefully the citizens of all these countries will benefit," he said.

The president said China's decision to allow its currency to rise in value against the U.S. Dollar will have to be monitored over the course of the year.

President Obama will hold a series of bilateral meetings in Toronto on Saturday, including his first face to face with British Prime Minister David Cameron.  Afghanistan and Iran will be key topics.

Administration officials say Mr. Obama will use the annual gatherings to underscore the U.S. commitment to leadership in and increased engagement with Asia.

Particularly important will talks with South Korean president Lee Myung-bak, underscoring the strength of the bilateral security alliance in the wake of the sinking of a South Korean warship by North Korea.

In talks with China's President Hu Jintao, senior U.S. officials say the president will discuss global economic and security issues, including Iran and the recent U.N. Security Council resolution approved with Beijing's support.

U.S. officials say Mr. Obama's approach on China is based on a recognition of cooperative and competitive elements in the relationship, while looking to expand as much as possible the cooperative aspect.  

Asked if the president will raise the issue of U.S. - China military to military relations, suspended by Beijing this past January, the officials would only reiterate Washington's position that military exchanges be resumed.

Among other bilaterals scheduled so far, President Obama will meet with India's Prime Minister Manmohan Singh, President Susilo Bambang Yudhoyono of Indonesia, and Prime Minister Naoto Kan of Japan, still the only Asian member of the Group of Eight nations.

U.S. domestic issues forced President Obama to twice postpone a planned visit to Indonesia.  U.S. officials say the president is likely to use his G-20 meeting with President Yudhoyono to express his admiration for Indonesian actions to fight terrorism.

You May Like

Beijing Warns Hong Kong Protesters, Cracks Down at Home

In suppressing protest news, China reportedly has arrested more than 20 people on the mainland who acted in support of Hong Kong pro-democracy protesters More

Competing Goals Could Frustrate Efforts to Fight Islamic State

As alliances shift and countries re-define themselves, analysts say long-standing goals of some key players in Middle East may soon compete with Western goals More

Child Sexual Exploitation to Worsen in SE Asia

Southeast Asia’s planned economic integration is a key step for boosting the region’s productivity, but carries downsides as well More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
The Legacy of Jimmy Carter: The Preacher from Plainsi
X
October 01, 2014 10:45 AM
It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video The Legacy of Jimmy Carter: The Preacher from Plains

It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video Hong Kong Protests Draw New Supporters on National Holiday

On the 65th anniversary of the founding of Communist China, Hong Kong protesters are hoping to stage the largest pro-democracy demonstration since the 1989 Tiananmen protests. VOA's Brian Padden visited one of the protest sites mid-day, when the atmosphere was calm and where the supporters were enthusiastic about joining what they are calling the umbrella revolution.
Video

Video India's PM Continues First US Visit

India's prime minister is on his first visit to Washington, to strengthen political and economic ties between the world's oldest and the world biggest democracies. He came to the U.S. capital from New York, the first stop on his five-day visit to the country that denied him an entry visa in the past. From Washington, Zlatica Hoke reports Modi seemed most focused on attracting foreign investment and trade to increase job opportunities for his people.
Video

Video Malaysia Struggles to Stop People Joining Jihad

Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Could US Have Done More to Stop Rise of Islamic State?

President Obama says airstrikes against Islamic State militants in Syria will likely continue for some time because, in his words, "there is a cancer that has grown for too long." So what if President Obama had acted sooner in Syria to arm more-moderate opponents of both the Islamic State and the Syrian government? VOA State Department Correspondent Scott Stearns reports from the United Nations.
Video

Video Treasure Hunters Seek 'Hidden Treasure' in Central Kenya

Could a cave in a small village in central Kenya be the site of buried treasure? A rumor of riches, left behind by colonialists, has some residents dreaming of wealth, while others see it as a dangerous hoax. VOA's Gabe Joselow has the story.
Video

Video Ebola Patients Find No Treatment at Sierra Leone Holding Center

At a holding facility in Makeni, central Sierra Leone, dozens of sick people sit on the floor in an empty university building. They wait in filthy conditions. It's a 16-hour drive by ambulance to Kailahun Ebola treatment center. Adam Bailes was there and reports on what he says are some of the worst situations he has seen since the beginning of this Ebola outbreak. And he says it appears case numbers may already be far worse than authorities acknowledge.
Video

Video Identifying Bodies Found in Texas Border Region

Thousands of immigrants have died after crossing the border from Mexico into remote areas of the southwestern United States in recent years. Local officials in south Texas alone have found hundreds of unidentified bodies and buried them in mass graves in local cemeteries. Now an anthropologist and her students at Baylor University have been exhuming bodies and looking for clues to identify them. VOA’s Greg Flakus has more from Waco, Texas.
Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.

AppleAndroid