V THE TOKYO SUMMIT: 1986

The next step in this "creative ad hocery" was the Tokyo Summit of 1986. The Tokyo Summit, in its economic agenda for coordination, or "multilateral surveillance", as it was christened, did two things. It delineated the key forum for this phase of the evo

As to the process, the Tokyo Summit enumerated a number of indicators, including exchange rates, by which the desired performance of individual countries might be evaluated. It was suggested that a country which deviated too far from the desired course wo

As well, the role of the IMF in providing analysis to the G-7 as a basis for its discussions is under debate. Were the IMF to assume full "secretariat" functions for the G-7, this, again, would imply a tougher form of international discipline than the pre

Finally, the Tokyo Summit achieved a major breakthrough in another crucial area of international cooperation: trade policy. Leaders gave a strong push towards the launch of a new round of multilateral trade negotiations and gave prominence to the central