Washington
25 October 2008
U.S. President George Bush talked Saturday about the agenda for next
month's international economic summit at the White House. VOA's Kent
Klein reports from Washington.
President Bush devoted his
weekly radio address to previewing his meeting with other leaders of
the so-called Group of 20 nations on the global economic crisis.
"During
the summit we will discuss the causes of the problems in our financial
systems, review the progress being made to address the current crisis,
and begin developing principles of reform for regulatory bodies in
institutions related to our financial sectors," he said.
Earlier
in the week, Mr. Bush invited leaders of wealthy nations and the heads
of major developing economies to the White House on November 15, to
focus on the global financial crisis. Administration officials see the
summit as the first in a series of meetings on the global economy. The
president said Saturday the meeting will give world leaders a chance to
sit in one room and discuss the situation.
"While the specific
solutions pursued by every country may not be the same, agreeing on a
common set of principles will be an essential step towards preventing
similar crises in the future," he said.
The summit will include
the leading industrialized nations, plus emerging economies such as
Brazil, India, China and South Africa. Mr. Bush said he will push hard
for the principles of free trade.
"Open market policies have
lifted standards of living and helped millions of people around the
world escape the grip of poverty," he said. "These policies have shown
themselves time and time again to be the surest path to creating jobs,
increasing commerce and fostering progress. And this moment of global
economic uncertainty would be precisely the wrong time to reject such
proven methods for creating prosperity and hope."
White House
Press Secretary Dana Perino said earlier in the week both presidential
candidates, John McCain and Barack Obama, have been informed about
plans for the initial summit. She said there was no decision on
whether the winner of the November 4 election will attend.