President-Elect Barrack Obama should attend the upcoming summit of the G20 developing and industrialized countries in Brazil to show that the US has a truly international leader, Mohamed El-Erian, Co-CEO of Pimco, told CNBC Friday.
Countries who could help unlock the credit freeze are not taking part because they are under-represented in the decision-making process and the summit, which will take place between Nov. 8 and 9 in Sao Paolo, could shed a light on their role, El-Erian said.
"What we need is clarity. Clarity on the fact that our infrastructure is not the one we need for the world of today," he told "Squawk Box Europe."