Posted by Yen HoWritten by Glenn Somerville and Corbett Daly
WASHINGTON (Reuters) - The United States bears "substantial" blame for the woes besetting the world economy but it will take a global effort to ease those strains, U.S. Treasury Secretary Timothy Geithner said on Wednesday.
Speaking to the Economic Club of Washington, Geithner said it was essential to find a better-balanced model for world growth that relies less on U.S. consumers as economies bid to climb out of the steepest downturn in decades.
"We must set ourselves on a path so that one country, or group of countries, does not consume in excess while another set of countries produces in excess," he said.
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