G8. What about it?

Ultimately the G8 nations :US, Canada, England, Russian, Japan, Italy, Germany--and one other I'm forgetting make world economic policy. The hype about the missile shield is based on the U.S. proposals to place some anti-missile sites (missiles for shooting down missiles if you will)in certain eastern European countries. Russia is concerned that this is aimed at impeding their nuclear capability. Many are concerned that this could spring a new arms race.