ABSTRACT
As we have emphasized several times, the oil crisis can be approached from different perspectives. In other words, the crisis had various aspects or, if you will, different levels. One important aspect was the relation between the West and the developing countries of the Third World, which had been affected by the crisis in various ways. On the one hand, rising oil prices threatened some developing countries – particularly the more industrialised among them – with ruinous debts; while, on the other hand, the performance of the opec countries on the international stage fostered a new self-awareness in the non-Western world. This was expressed in the appeal by the Group of 77 non-aligned countries for a New International Economic Order (nieo).
