Obama writes global editorial

President Barack Obama on Tuesday published an editorial in 31 newspapers around the world, from Riyadh to Hong Kong to New Delhi to Chicago, attempting to stake out a strong leadership position at next month's global economic summit in London.

. . . Mr. Obama did not mention the dollar but acknowledged that "America bears our share of responsibility for the mess that we all face." . . . "All of our financial institutions -- on Wall Street and around the globe -- need strong oversight and common sense rules of the road," he wrote. "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."

The president's editorial did not run in mainland China, whose government holds nearly $2 trillion in U.S. treasuries. It was distributed by Tribune Media Services and appeared in several Gulf States newspapers, as well as the Arabic-language Asharq Al Awsat, in Pakistan, Japan, throughout Europe, including France's Le Monde and the International Herald Tribune, and in select South American countries such as Brazil, Chile and Argentina. It was published in three U.S. cities: Baltimore, Chicago and Los Angeles.


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