CONFIDENTIAL
Also hope that restrictions on foreign lawyers can be eased
so that they can better assist foreign businesses at a time when Japan is encouraging imports and investment.
Cooperation on the Tokyo Summit
Economy and Trade
G7 Issues
The Japanese had high hopes for their Chair of the G7, which
they hoped would demonstrate that their political punch matches
their economic clout, with Security Council ambitions at the
back of their mind. The collapse of their Government could not
have come at a worse time.
On world economy we share a belief in the need for structural
reform and will be concerned about American attempts to set
targets on growth and current account imbalances; but we would
still like to see further fiscal measures from the Japanese,
depending on how their recovery progresses. We will, if possible, want to encourage the Japanese forward on the next
moves on the Uruguay Round following the QUAD meeting on 6
July, and we may need to urge them to be more forthcoming especially on services. On developing countries we will want
to steer the Japanese away from a concentration on aid volume
and towards a better understanding of why we place so much
emphasis on further progress on debt relief for the poorest.
This will also be an opportunity to explain to the Japanese,
who are as yet unconvinced, why we believe that greater
informality will strengthen the Summit process.
The Prime Minister might say:
I am very pleased that we will have a chance to discuss
Summit reform. My concern is to ensure that we gain maximum
benefit from our meetings. To do this we need to return to a
fed18/G7SUMMIT/pmmiyabilateral
CONFIDENTIAL
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