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Capsule Of Summits

May 03, 1985|From United Press International

Annual economic summit conferences bringing together leaders of the United States, Britain, France, West Germany, Italy and Japan have been held since 1975 with Canada joining in 1976. Here is a capsule summary:

1--Chateau de Rambouillet, France, Nov. 15-17, 1975. Agreed to stimulate economies; accepted flexible exchange rates; gave strong support and momentum to Tokyo Round of trade talks, which three years later lowered tariff barriers.

2--San Juan, Puerto Rico, June 27-28, 1976. Called for balanced growth, stressing danger of a "new wave" of inflation.

3--London, May 7-8, 1977. Agreed on broad economic policies, those with stronger economies (United States, West Germany, Japan) emphasizing growth, those with higher inflation stressing stabilization; approved increased reliance on nuclear energy, and gave further impetus to trade-liberalization talks.

4--Bonn, July 16-17, 1978. Agreed on coordinated economic policies with respect to growth, deficits and inflation; pledged conservation and other steps on energy; promised support for developing countries.

5--Tokyo, June 28-29, 1979. Agreed on steps to limit oil imports, to create a register of international oil transactions and to maintain or raise domestic oil prices to the world level.

6--Venice, Italy, June 21-23, 1980. Called for complete withdrawal of Soviet troops from Afghanistan; made reduction of inflation "immediate top priority," and agreed to conserve oil and develop alternate energy sources.

7--Ottawa, July 20-22, 1981. Debated high U.S. interest rates; supported global negotiations on development, paving the way for the summit of 21 industrial and developing nations at Cancun, Mexico.

8--Versailles, France, June 5-6, 1982. Agreed to intensify economic and monetary cooperation; launched a study of exchange rate intervention. A communique that papered over differences on East-West trade later erupted in a dispute over the Soviet-European natural gas pipeline.

9--Williamsburg, Va., May 28-30, 1983. President Reagan won support for U.S. missile deployment in Europe.

10--London, June 7-9, 1984. The effect of high U.S. interest rates on world economic recovery dominated talks; members pledged to help debt-ridden nations.

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