Obama: Nations will watch each other to assure more sustained, equitable economic growth

Obama: Global demand must benefit all regions

PITTSBURGH — President Barack Obama says world leaders have agreed to monitor each others’ economic policies to make sure all regions benefit when global demand increases.

Obama said Friday that leaders of the G-20 nations agreed to pursue sustainable policies that will not rely so heavily on huge exports from a few countries and huge consumption by a few others.

The president said the pay of corporate executives should be tied more closely to their companies’ long-term performance.

Obama told reporters in Pittsburgh that the world must avoid the old boom-and-bust cycles of the past.