TORONTO, July 17, 2000 -- Advisory Group Proposes Ambitious Agenda for G-8 Okinawa Summit. Rotman Professor Participates in International Group. TORONTO - A 17-member private sector group, including Rotman Professor Wendy Dobson, is urging G-8 leaders to focus strategically on dealing with the dramatic changes underway in the world economy when they meet in Okinawa at the end of the month.

The report suggests that recent summits have tended to produce a long list of relatively modest proposals on relatively minor issues. The group worries that the G-8 leaders aren't moving quickly enough to expand the global economy and guard against financial crises.

The group sent its report, Strategies for a New Century, to governments in May. The report recommends six areas of strategic proposals including: a new round of global trade talks that address the needs of developing countries; financial reforms that strengthen G-7 cooperation, focus the IMF, and support a new regional mechanism in Asia; and the strengthening of the gains from globalization. It also calls for initiatives on key foreign policy issues that will affect future prospects for peace and stability including: the full integration of Russia into the G-7, provided it commits itself to further economic and legal reform; approaches to Asian security; and nuclear proliferation.

The advisory group, which met in Tokyo in April, was organized by Fred Bergsten, Director of the Institute for International Economies in Washington and Heizo Takenaka, President of the Tokyo Foundation. It includes Henry Kissinger, former US Secretary of State; Paul Volcker, former Chairman of the Federal Reserve; Renato Ruggiero, former head of the World Trade Organization, Sir Leon Brittan, former European Trade Minister as well as participants from think tanks in Europe and North America. Wendy Dobson, former Associate Deputy Minister of Finance and professor of international business at the Rotman School of Management, participates from Canada.

Ken McGuffin
Media Relations Officer
Rotman School of Management
Voice: (416) 946-3818
Fax: (416) 978-1373
E-mail: mcguffin@rotman.utoronto.ca

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