Today, the Los Angeles Times has an op-ed from the President on the need for global economic cooperation:My message is clear: The United States is ready to lead, and we call on our partners to join us with a sense of urgency and common purpose. Much good work has been done, but much more remains. 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. Through our example, the United States can promote a global recovery and build confidence around the world; and if the London summit helps galvanize collective action, we can forge a secure recovery, and future crises can be averted.He outlines three action steps and adds:All of our financial institutions -- on Wall Street and around the globe -- need strong oversight and common- sense rules. All markets should have standards for stability and a mechanism for disclosure. A strong framework of capital requirements should protect against future crises. We must crack down on offshore tax havens and money laundering. Rigorous transparency and accountability must check abuse, and the days of out-of-control compensation must end. Instead of patchwork efforts that enable a race to the bottom, we must provide the clear incentives for good behavior that foster a race to the top.What makes this op-ed all the more interesting is that while it's in the LA Times, it is also in 30 papers around the world. I just can't imagine George Bush pulling that off. Here's the full list courtesy of the White House Press Office:
I know that America bears its 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. That is a false choice that will not serve our people or any people.1. Al Watan (Gulf States)
2. Arab Times (Gulf States)
3. Asharq Al Awsat (Arab-wide paper in Arabic)
4. The Australian (Australia)
5. Baltimore Sun (United States)
6. Bangkok Post (Thailand)
7. Chicago Tribune (United States)
8. Clarin (Argentina)
9. Corriere della Sera (Italy)
10. Die Welt (Germany)
11. El Pais (Madrid)
12. El Mercurio (Chile)
13. Eleftyropiea (Greece)
14. Estado de Sao Paulo (Brazil)
15. Gulf News (Gulf States)
16. The Hindustan Times/ The Hindu (India)
17. International Herald Tribune (London)
18. Kristeligt Dagblad (Denmark)
19. Le Monde (Paris)
20. Lidove Noviny (Czech)
21. Los Angeles Times (United States)
22. The News (Pakistan)
23. NRC Handelsblad (Netherlands)
24. Saudi Gazette (Saudi Arabia)
25. South China Morning Post (Hong Kong)
26. Straits Times (Singapore)
27. Sunday Times (South Africa)
28. Svenska Dagbladet (Sweden)
29. Syndey Morning Herald (Australia)
30. WProst (Poland)
31. Yomiuri Shimbun (Japan)
Tuesday, March 24, 2009
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From Americablog's Joe Sudbay: Obama's world-wide op-ed on the need to reform the global economy
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