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Obama tries to rally world to cope with downturn

(Agencies)
Updated: 2009-04-01 21:01

LONDON -- As US President Barack Obama sought to rally the world's powers to fix a lifeless global economy, the White House announced Wednesday that Obama and Russia's president were ready to negotiate on reducing both nations' nuclear arsenals.

Britain's Prime Minister Gordon Brown (2nd L) and his wife Sarah (L) meet US President Barack Obama (2nd R) and first lady Michelle at Downing Street in London April 1, 2009. [Agencies]

The flurry of diplomacy came as Obama stepped on the world stage for the first time as president, aiming to shore up both America's economy and its reputation across the globe. The White House confirmed that Obama and Russian President Dmitry Medvedev would announce new talks to limit the number of nuclear warheads, the first major negotiations in years over what Obama called the gravest threat to humanity.

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Ahead of the G-20 summit of the world's richest and emerging economies, Obama said he came to listen, not lecture, but also to lead. Pushing for unity, he said, "We can only meet this challenge together."

Meanwhile, thousands of protesters converged on central London to rally against the summit.

Speaking directly to anxious families back home, Obama sought to restore consumer confidence and encourage people to think about spending now to help their future.

"Basing decisions around fear is not the right way to go," he said. "We are going to get through this difficult time."

The president also disputed criticism that the United States was feuding with other nations about the need to pump more money into economic stimulus policies.

"I am absolutely confident that this meeting will reflect enormous consensus about the need to work in concert to deal with these problems," Obama said.

Obama prodded nations to spur growth and work together on regulatory reform, and not fall into the kind of protectionism and other mistakes that helped fuel the Great Depression.

"That is a mistake that we cannot afford to repeat," Obama said during a news conference with British Prime Minister Gordon Brown.

Brown, too, sought to play up consensus. "We are within a few hours, I think, of agreeing a global plan for economic recovery and reform," he said.

Regarding Russia, White House spokesman Robert Gibbs said Obama and Medvedev will announce negotiations on nuclear talks when they meet in London. They would be the first major arms control negotiations since 1997.

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