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http://www.telegraph.co.uk/finance/...-Obama-US-economy-cannot-carry-the-world.html
Barack Obama: US economy cannot 'carry the world'
President Barack Obama says the G20 has a "responsibility" to invest and create jobs
The US President said the country "can't be expected to just carry the world economy on our back"*Photo: Reuters
By Ben Martin, and AFP12:52PM GMT 15 Nov 2014 1 Comment
President Barack Obama has urged other nations to boost their economies by arguing that the United States cannot “carry” the world on its “back".
Speaking at the sidelines of the G20 summit, he said: “Over the last few years the US has put more people back to work than all other advanced economies combined.
“But America can't be expected to just carry the world economy on our back.
“So here in Brisbane the G20 has a responsibility to act, to boost demand and invest more in infrastructure and create good jobs for the people of all our nations.”
The US economy, which is the world’s largest, is strengthening. During the third quarter of the year, US gross domestic product grew at the equivalent of 3.5pc a year.
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While this marked a slowdown from the 4.6pc seen in the second quarter, the expansion still beat analysts estimates of 3.1pc.
With the economy improving, the American central bank, the Federal Reserve, last month brought its unprecedented “QE3” asset purchase programme to an end.
The quantitative easing programme - one of the most radical monetary policy experiments in history - saw $1.66 trillion added onto the US balance sheet over the course of the last years, taking it to more than $4.48 trillion.
Barack Obama: US economy cannot 'carry the world'
President Barack Obama says the G20 has a "responsibility" to invest and create jobs
The US President said the country "can't be expected to just carry the world economy on our back"*Photo: Reuters
By Ben Martin, and AFP12:52PM GMT 15 Nov 2014 1 Comment
President Barack Obama has urged other nations to boost their economies by arguing that the United States cannot “carry” the world on its “back".
Speaking at the sidelines of the G20 summit, he said: “Over the last few years the US has put more people back to work than all other advanced economies combined.
“But America can't be expected to just carry the world economy on our back.
“So here in Brisbane the G20 has a responsibility to act, to boost demand and invest more in infrastructure and create good jobs for the people of all our nations.”
The US economy, which is the world’s largest, is strengthening. During the third quarter of the year, US gross domestic product grew at the equivalent of 3.5pc a year.
Related Articles
*
US GDP stokes fears of rate rise 30 Oct 2014
Fed ends one of the most radical monetary experiments in history 29 Oct 2014
Dollar and Dow Jones surge 31 Oct 2014
While this marked a slowdown from the 4.6pc seen in the second quarter, the expansion still beat analysts estimates of 3.1pc.
With the economy improving, the American central bank, the Federal Reserve, last month brought its unprecedented “QE3” asset purchase programme to an end.
The quantitative easing programme - one of the most radical monetary policy experiments in history - saw $1.66 trillion added onto the US balance sheet over the course of the last years, taking it to more than $4.48 trillion.
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