Obama defends economic moves at G20

US president arrives in South Korea for G20 summit amid criticism over Federal Reserve's $600bn bond purchase.

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    World leaders have arrived in South Korea's capital Seoul to take part in the two-day G-20 summit, which kicks off on Thursday.

    The meeting of finance ministers and other official representatives of the world's 20 largest economic powers comes amid deep divisions in the bloc, particularly over the US Federal Reserve's decision last week to buy $600b of government bonds.

    The buyout seeks to boost the world's largest economy, but critics say it will weaken the dollar to the detriment of other nations.

    A day before his arrival in Seoul on Wednesday, Barack Obama, the US president, sent a letter to the G-20 leaders defending his economic policies.

    "A strong recovery that creates jobs, income and spending is the most important contribution the United States can make to the global recovery," Obama said.

    He also called for countries to work together in pacing the global economic recovery.

    "When all nations do their part, emerging no less than advanced, surplus no less than deficit, we all benefit from higher growth," the president said.

    SOURCE: Al Jazeera


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