Obama says US economy sound, reassures investors
Business Law
President Barack Obama on Saturday downplayed divisions between the U.S. and Europe over how to tackle the world's financial crisis and said China should have "absolute confidence" that its sizable investments in the United States are safe.
In a conversation focused heavily on the economy, Obama met in the Oval Office with Brazilian President Luiz Inacio Lula da Silva. It was the latest in a series of talks the president has had with his counterparts around the world before a pair of international meetings where the economic crisis will dominate.
Both leaders will attend the Group of 20 countries summit in London on April 2, and the Summit of the Americas in Trinidad in mid-April.
Obama said the notion that the U.S. and Europe are already taking sides, with America pushing for more stimulus spending and European nations favoring tighter regulation of the financial industry, is a "phony debate."
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