Japan Expert Downplays Concerns over G-8 Dilution

Tokyo, July 1 (Jiji Press)--A Japanese expert on the Group of Eight
summit downplayed concerns that a rise in the number of summit participants
could dilute the importance of the G-8 framework.
Junichi Takase, a professor at Nagoya University of Foreign
Studies, said in a recent interview that the G-8 framework is able to change
flexibly to deal with different circumstances.
Leaders of the G-8 countries--Britain, Canada, France, Germany,
Italy, Japan, Russia and the United States--are set to hold a summit for
three days from July 8 in L'Aquila, Italy. On the sidelines of the summit,
they will also meet with the heads of emerging economies.
Takase rejected the view that the G-8 framework has been eroded by
the Group of 20 financial summit, which was first held last November to
discuss ways to deal with the global economic downturn.
People with such opinions are only looking at the size of the
number, Takase said.
The G-20 financial summit is based on a meeting of G-20 finance
ministers and central bank governors from developed and developing
countries, Takase said.
Because of its flexibility, the G-8 framework has sister frameworks
such as the G-20 summit and the meeting of the Group of Seven finance
ministers and central bank governors, Takase said. The G-7 is the G-8 minus
Russia.
The G-8 has flexibility because of the absence of a charter, he
suggested.
Takase said that the G-20 framework is effectively controlled by
major countries that have the ability to respond to new challenges.
Looking ahead, the G-8 countries and five emerging economies
including China and India are likely to hold regular talks on economic
issues, while the G-8 will focus on political issues, Takase predicted.
Takase said that China is not necessarily eager to join the summit,
because it would have to take serious steps on counterfeit goods and
environmental issues as a member.