Making the world work again

President Obama penned an op-ed piece that appeared in newspapers around the world today, including the Los Angeles Times. Here's an excerpt:

We are living through a time of global economic challenges that cannot be met by half-measures or the isolated efforts of any nation. Now, the leaders of the G-20 have a responsibility to take bold, comprehensive and coordinated action that not only jump-starts recovery but launches a new era of economic engagement to prevent a crisis like this from ever happening again.

No one can deny the urgency of action. A crisis in credit and confidence has swept across borders, with consequences for every corner of the world. For the first time in a generation, the global economy is contracting and trade is shrinking. Trillions of dollars have been lost, banks have stopped lending and tens of millions around the globe will lose their jobs. The prosperity of every nation has been endangered, along with the stability of governments and the survival of people in the most vulnerable parts of the world.

...My message is clear: The United States is ready to lead, and we call on our partners to join us with a sense of urgency and common purpose. Much good work has been done, but much more remains. Our leadership is grounded in a simple premise: We will act boldly to lift the American economy out of crisis and reform our regulatory structure, and these actions will be strengthened by complementary action abroad. Through our example, the United States can promote a global recovery and build confidence around the world; and if the London summit helps galvanize collective action, we can forge a secure recovery, and future crises can be averted.