ABSTRACT
Since World War II, the Third World countries have made unremitting efforts for the active development of their national economies after they won political independence one after another. This was a follow-up of their protracted national liberation struggles in the economic field, which is dictated by the need to consolidate their political independence. The North-South summit meeting held at Cancun in October 1981 did try to give some impetus to the global negotiations but failed to achieve the expected results. North-South economic relations are global in nature, and the important sectors are closely interrelated. The promotion of the economic growth of the developing countries and the restructuring of existing international economic relations have been accepted as major international issues which figure prominently on the agenda of international conferences. The task to restructure the old international economic order, far from being outdated, has become all the more necessary and urgent.
