- The Washington Times - Wednesday, March 25, 2009

President Obama published an editorial Tuesday in 31 newspapers from Riyadh and Hong Kong to New Delhi and Chicago, attempting to stake out a strong leadership position at next month’s global economic summit in London.

“The United States is ready to lead, and we call upon our partners to join us with a sense of urgency and common purpose,” Mr. Obama wrote.

“Our leadership is grounded in a simple premise: We will act boldly to lift the American economy out of crisis and reform our regulatory structure, and these actions will be strengthened by complementary action abroad.”

U.S. officials and regulators have come under intense global criticism for failing to contain the economic crisis. There has even been scattered talk of ending the dollar’s status as the world’s reserve currency.

Mr. Obama did not mention the dollar but acknowledged that “America bears our share of responsibility for the mess that we all face.”



“But I also know that we need not choose between a chaotic and unforgiving capitalism and an oppressive government-run economy,” he wrote. “That is a false choice that will not serve our people or any people.”

Mr. Obama called for other nations to continue stimulus spending that is “robust and sustained until demand is restored,” but he did not call directly on other nations to do more than they already have.

Some European leaders have questioned the idea that the Group of 20 summit should be the occasion for a new round of concerted state stimulus spending, emphasizing instead more international regulation of markets.

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