Free and open market policy, surest path to grow

Saying that there is more work to do beyond the immediate crisis and the stakes are indeed high, the US President Mr George W Bush told the leaders of the Group of Twenty and other major actors in the global financial system that the surest p ath to grow is to continue policies of free and open markets. 

“This problem did not develop overnight and it will not be solved overnight. But with continued cooperation and determination, it will be solved” Mr Bush said as he welcomed leaders of the G-20 at the banquet in the state dining room of the White House o n the eve of a one-day summit to discuss the crisis in the international financial markets. 

The Indian Prime Minister Dr Manmohan Singh and a high powered delegation that includes Finance Minister Mr P Chidambarm are participating in the meeting. “There is more work to do beyond the immediate crisis and the stakes are indeed high,” the Presiden t said stressing that “developing nations need the assistance they have been promised - as well as additional foreign investment - to continue their journey from poverty to promise”. 

“...We are here because we share a concern about the impact of the global financial crisis on the people of our nations. We share a determination to fix the problems that led to this turmoil. We share a conviction that by working together, we can restore the global economy to the path of long-term prosperity,” Mr Bush said.