U.S. President Barack Obama said he would seek a meeting of G-20 this week to change the world economy in response to the global financial crisis.

Obama said the U.S. economy is renewed, even though unemployment remains high, and that now is the time to change the balance in the global economy after decades marked by excessive consumption by Americans.

Obama added that “the economy is unable to return to the time when China or Germany or other countries simply were selling everything, and we roll debts by taking loans or making loans and raising mortgage without selling them anything”.

Once U.S. consumption is reduced, and unemployment increases, Washington will require other states to become engines of growth.