The G7 is adapting to the new political and economic realities through what is termed “outreach“. The G7 countries have acknowledged the necessity of involving other players in their discussions. In particular, it is now standard practice for finance ministers and governors from emerging economies – and sometimes also from developing countries – to be invited to join these discussions.
I remain optimistic that we and our global trading partners will shun that path. The evidence is simply too compelling that our mutual interests are best served by promoting the free flow of goods and services among our increasingly flexible and dynamic market economies. BIS Review 6/2004  5