G7 in twilight stage as G20 gains clout

ISTANBUL — A week ago, many wondered what would become of the Group of Seven rich nations' summit when leaders of the broader Group of 20 developed and emerging countries decided to make their gathering the "premier" forum for steering the global economy.

The question became larger as G7 financial chiefs held a regular but unusually short meeting Saturday in Istanbul, issuing a brief statement mostly reaffirming pledges reached earlier by the G20 leaders.

The G7 has held great significance for Japan as Asia's only representative. Tokyo's presence is diluted in the G20, which includes four other Asian countries — Indonesia and South Korea, and emerging heavyweights China and India.