President Barack Obama

Barack Obama is only the President-elect while George Bush remains officially U.S. president until January 20, 2009. However, as far as the world’s political and business leaders are concerned, Barack Obama is the one in charge. Bush is seen as a lame duck while the global economic crisis worsens, and his statements on the American financial collapse are viewed as increasingly irrelevant. However, when Obama holds a news conference or announces a senior appointment, the whole world listens with riveted attention.

It appears that the American people and most of the world cannot wait until the Bush presidential term is finally history, and Barack Obama is inaugurated as the 44th president. What is also clear, however, is everyone is looking to Obama to provide leadership that will lead America out of its worst financial crisis since the Great Depression. Judging by his initial responses, it seems apparent that Barack Obama has no illusions as to the depth of the challenge and responsibility he is now assuming.

Barack Obama has stated that the U.S. has only one president at a time, so he will not be present at the November 15 emergency meeting of the G20 in Washington DC, which is discussing the global financial and economic crisis. President George W. Bush is presiding over the summit, addressing what he himself termed the “meltdown” of the world’s financial system.

Bush is widely viewed as an ineffective lame-duck president, so the world leaders attending the meeting are keen to develop close ties with the incoming Obama administration. Though Barack Obama will not be at the G20 meeting, he will have high level representatives in attendance, who doubtless will be approached by the world leaders eager to sound out the initial economic plans of president-elect Barack Obama.

More information on the global economic crisis can be found at the website,

http://www.globaleconomiccrisis.com