G20 Wrap-up

CSPAN1 - President Obama's visits to London and Pittsburgh last year were bold moves that have paid off; avoiding a another catastrophe and "committing our commissions to a new framework for growth," he said after the G20 meeting on Sunday in Toronto.

At the Summit Press Conference the president announced that the G20 "is now the premier form for international economic cooperation" and represents economies ranging from the most superior to the just surfacing. Global trade that was once faltering is now creeping its way back up the ladder and certain economies are seeing some improvement. This takes us off the edge of the cliff, but it's still not enough as many people remain without jobs and the supply and demand for goods and services are too weak. Within recent months we learned that one nation's economic problems can spread beyond its borders. The only solution to this is strong effort and leadership.

"We came to Toronto with three specific goals. To make sure the global recovery is strong and durable, to continue reform of the financial system, and to address the range of global issues that affect our prosperity and insecurity," said Obama.

Over the next five years exports will be doubled to increase the support of millions of jobs in the United States. Hence, the launching of a national export initiative is why Obama reached out to Russia earlier this week for their economic cooperation "to restart poultry exports and accelerating support for Russia's entry into the WTO (World Trade Organization)." This November the president is planning a trip to Korea to work on a Free Trade Agreement and will benefit both our countries in the 21st century, also... he told China's President Hu that the U.S. "welcomes their decision to allow its currency to appreciate in its response to market forces."

Bottom line... the main plans that Obama has during his term in office is to cut our deficit in half by 2013. The second goal is financial reform, in which the nations have reached a global agreement about banks; "complex trades like derivatives must be brought into the light of day while protecting our consumers," and finally, the progress on prosperity will result in "food security initiative and special fund on farmers' productivity in the poorest countries," along with "clean energy jobs and clean energy security to lessen our impact on the global environment."

All this and keeping an eye out for corruption such as bribes that "stunt our economic growth" while "bridging our differences" at the G20 will help us do a 180 on our lives in general for the best.