Obama Preaches Open Markets

LONDON (AP) – President Barack Obama says there’s no way to fix the U.S. economy without open markets and coordinated actions with other governments.

At a press conference following the G-20 summit in London, Obama was asked what specific measures the leaders had agreed on that would help struggling communities in the U.S. He pointed to Illinois-based Caterpillar as an example of a company that had thrived on its exports and now finds itself in bad shape because of the global recession.

Obama said the U.S. can help export-dependent companies, but for that help to be fully effective, complementary actions by other countries will be needed.

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