After arguably the most important meetings of the year, President Barack Obama held a press conference on Sunday. In it, he addressed the final agreements of the G-20 summit in Toronto, Ontario, Canada.
President Obama said that along with the other 19 states, the United States has figured out “a coordinated response to the worse global economic crisis of our time.”
After a lengthy meeting, the leaders of the twenty states agreed on a plan that is expected to cut the deficits of the nations of the world by fifty-percent by the year 2013.
Obama made it clear that he realized that what would work for the United States is not what other nations may need in particular. Obama stated that “every economy is unique and every country will chart its own unique course, but make no mistake, we’re moving in the same direction.“
Obama also laid out the goals specific to the United States. He stressed the importance of increasing American exports twice as much as their current state in the next half decade. In addition, Obama also spoke about the importance of the economic relationship between Russia and the United States, as well as the finalization of the Korea-United States Free Trade Agreement, which “will create new jobs and opportunities for people in both our countries and enhance American’s competitiveness in the twenty-first century.”
The meeting was clearly focused on economics. Obama is working feverishly to improve the economic situation of the world. He said, “we must recognize that out fiscal health tomorrow will rest in no small measure on our ability to create jobs and growth today,” and “we have to do everything in our power to avoid a repeat of the recent financial crisis.”
As President Obama and the rest of the leaders of the G-20 states are on the same page, the hope for economic recovery and stability in the world has been raised significantly.