chapter  VI
25 Pages

South enters the world stage: 1950 to 1985

BySurendra J. Patel

The three decades between 1950 and 1980 were the most remarkable period in the one century history of technological transformation. World output and trade expanded during this period at rates unparalleled in the antecedent experience. All the major groups of the world economy participated in this world-wide wave of rapid development: the developed market economy countries or simply the west, though geography would be offended by placing Japan in the west; the socialist countries or the centrally planned economies of East Europe; and the South which includes varying combinations of countries lumped together under various titles such as ‘under-developed countries’, ‘less developed countries’ (LDCs), ‘developing countries’ (DCs) and of course the ‘third world’.