JAPAN and the WORLD Magazine OCTOBER ISSUE 2015 #Issue 13 | Page 54

G7
INTERNATIONAL JAPAN
QA
INTERVIEW:
MR. MOTOYUKI ODACHI
Member of the House of Councilors
WORDS: MANA SANZA
IN PREPARATION
FOR G7 SUMMIT
G7首脳会議への準備
JAPAN and the WORLD conducted interview
with Mr. Motoyuki Odachi, Member of the House
of Councilors, to find out more about the next
year G7 Summit taking place in Japan.
ジャパン・アンド・ザ・ワールドは、
日本で開
催される来年の主要7か国（G7）首脳会議（
サミット）について尾立源幸参議院議員に
インタビューを行いました。
Mr. Motoyuki Odachi
Member of the House of Councilors.
In May 2016, the 42nd G7 Summit
will be held in Japan. Since the
holding of the 41st G7 Summit in
June 2015, many regions around
the world have been experiencing
economic crises. What kind of
economic issues are likely to be on
the agenda for discussion at the G7
Summit in 2016?
It is still too early to say what topics will
be discussed at the May 2016 G7 Summit.
However, one area that is likely to be a
focus of attention is Base Erosion and
Profit Shifting (BEPS); Japan’s Deputy Vice
Minister of Finance is currently chair of the
OECD’s Committee on Fiscal Affairs, which
has responsibility for BEPS-related matters.
Leading international corporations such
as Starbucks and Apple devise amazingly
53 // OCTOBER 2015
complex schemes to avoid paying tax in
particular countries. Without cooperation at
a global level, these companies will be able
to exploit individual countries that have
loopholes in their tax legislation, so it is
entirely appropriate for the discussion about
BEPS to be positioned as a global issue. A
further issue relates to the fact that, with
the coming to an end of quantitative easing
in the U.S., it is anticipated that, in autumn
2015, interest rates in the U.S. will be allowed
to rise from their current level of near zero.
Japan has been steadily printing money
under its “quantitative and qualitative
easing” (QQE), an unprecedented form of
monetary easing, but this cannot continue
forever, and it can be anticipated that the
question of what Japan should do in the
future in this regard will also be discussed at
the next G7 Summit.
Japan has been steadily
printing money under
its “quantitative and
qualitative easing” (QQE),
an unprecedented form of
monetary easing, but this
cannot continue forever,
and it can be anticipated
that the question of what
Japan should do in the
future in this regard will
also be discussed at the
next G7 Summit.
JAPAN AND THE WORLD MAGAZINE