Following is a text of a letter from President Barack Obama to G20 leaders due to meet in Seoul from tomorrow. The letter was sent on Tuesday.
President Barack Obama tried to swing the G20 spotlight back onto global imbalances and take his own country's policies out of the glare as world leaders gathered in Seoul.
China kept up criticism of US easy-money policies, warning two days before a G20 world economic summit that Washington could destabilize the global economy and inflate asset bubbles.
President Barack Obama said he believes US voters are feeling frustrated with the pace of economic recovery, after mid-term poll losses. The Republicans captured 60 seats to take control of the House of Representatives. The Democrats clung on to the Senate despite losing seats.
President Barack Obama has said an over-supply of homes is hindering the US economic recovery. Obama also said the US had to find a way to curb its budget deficit without further slowing economic growth.