Next G20 summit to be held in Pittsburgh

May 29th, 2009 - 3:37 am ICT by IANS  

Barack Obama Washington, May 29 (DPA) The US city of Pittsburgh will host the next Group of 20 (G20) summit of the world’s leading wealthy and developing nations to highlight the effects of the global recession on industry, the White House announced Thursday.
Spokesman Robert Gibbs said the Sep 24-25 summit, which will be the third gathering of G20 leaders on the economic crisis since November, would “take stock” of the state of the struggling global economy and financial crisis.

Pittsburgh, known as Steel City and located in the eastern state of Pennsylvania, served as a “good example” of a struggling industrial town that has adapted to the changing economy.

“It’s an area that has seen its share of economic woes in the past, but because of foresight and investment is now renewed, giving birth to renewed industries that are creating the jobs of the future,” Gibbs said.

The world economy is in the middle of its worst recession since the Second World War, and the G20 has become the key bloc for coordinating the global response.

The Pittsburgh summit will be the second G20 meeting hosted by the US and the first led by President Barack Obama. His predecessor George W. Bush called the first emergency gathering in November last year, just over a month after the near-collapse of Wall Street began pulling down the global economy.

British Prime Minister Gordon Brown hosted a follow-up summit in April in London, where leaders agreed among other things to plug some $1 trillion into global financial institutions.

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