G20
Today, the world’s most powerful leaders will meet in an effort to plan out recession recovery. President Obama will be hosting this summit in Pittsburgh Pennsylvania, which consists of 20 World leaders. The agenda is huge and all eyes are on them. One of the biggest issues they will be discussing is how to even out the enormous imbalances between export powerhouses like China and the U.S. The summit, which lasts two days, will also touch on other global problems such as climate change, and the lopsided global growth. This is the third G20 gathering since the collapse of Lehman Brothers, which is of course what incited the recession to o global. One of the biggest U.S. concerns to be addressed is for coordinated policies to be created that would reduce the World’s reliance on U.S. consumers. the U.S. consumer cannot be relied upon in order to drive other countries growth because Americans are saving more. We will see how this summit goes, but we must keep in mind the many distraction at hand. Among these distractions; President Obama has a full plate with his determination to reform the healthcare system, and then there is German Chancellor Angela Markel, who is looking towards and election this Sunday, just to name a couple. Of course, World leaders will always habe many issues on their plate, but we will just have to wait and see what will come of this enormously important summit.