Faced with a historic crisis seven years ago, the G20 acted to avert a global depression and rebuild the global economy on a more resilient footing. Through those efforts and others since, the G20 has proved itself to be the premier forum for international economic co-operation.

America’s voice is one of bold action — a stance bolstered by our own economic performance. Our businesses have created 13.5m new jobs, fuelling the longest streak of private-sector job growth on record, and driving our unemployment rate down to 5 per cent. Since 2009, we have cut our deficit by nearly three-quarters. American households and businesses have reduced their own debt, and resumed spending and investing, helping to power the world economy.

Today the G20 faces another challenge. While the global economy is growing, it is growing too slowly. We recognised this challenge at last year’s G20, and it is even more pronounced today. That is why, at next week’s summit, my message will be clear: we have to take action to strengthen growth in a way that benefits all our people.