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Obama re-election positive for the Pacific

Nanise Loanakadavu
Thursday, November 08, 2012

THE re-election of democrat Barack Obama as the President of the US is a "positive sign" for the people of the Pacific.

Fiji economist Doctor Mahendra Reddy last night said in respect of the Pacific economy, a democratic government in the US had sympathetically contributed to the development of island countries' economy.

"He (President Obama) had resurrected the economy from depressions which is an excellent job," Dr Reddy said.

"His win is a testimony in difficult times," he said.

Dr Reddy said Mr Obama had saved the economy through building infrastructures.

He had shown that the public sector needed to take the lead role and pump in more money in the development of the economy.

"At this juncture, government needs to learn from what the US has achieved in terms of recovery," Dr Reddy said.

He said at a time when fixing a weakened economy was the biggest thing on the minds of most Americans, Mr Obama promised to lift America out of its deepest financial crisis in a century, to pull the brakes on the decline of their economy and resurrect it.

America's first black president won his second consecutive race to the White House on Tuesday (Wednesday Fiji time) as a steady-as-she-goes defender of a new status quo.

Overseas media reported Mr Obama had signed economic stimulus legislation in the form of the American Recovery and Reinvestment Act of 2009 and the Tax Relief, Unemployment Insurance Reauthorisation, and Job Creation Act of 2010 in response to the 2007-2009 recession in the US.





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