NEW YORK, Sept. 22 (UPI) -- U.S. President Barack Obama said Tuesday the world needs "a new spirit of global partnership" to face "a transformational moment in world history."
Addressing a meeting of the Clinton Global Initiative in New York, Obama said technologies that facilitate progress "also empower those who would destroy and corrupt -- the extremists in the mountains of Afghanistan and Pakistan who fuel attacks from New York to London to Bali, from Mombasa to Madrid to Mumbai."
He said reckless financial speculation, or even one family's difficulty paying a mortgage, can contribute to global recession.
"We stand at a transformational moment in world history when our interconnected world presents us at once with great promise, but also with great peril," Obama said.
Citing poverty, the international narcotics trade, an impending H1N1 flu pandemic and environmental degradation, Obama said "no nation can wall itself off from the world" and the challenges of the 21st century require "creative collaborations."
"In short, we need a new spirit of global partnership," Obama said.
Former President Bill Clinton established the Clinton Global Initiative in 2005 to promote collaboration among governments, the private sector and non-governmental organizations.