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The World According to the Group of 77 |
| Section: CURRENT ISSUES / ANALYSIS |
| Author: Michael Collins |
| Publication: The world & I online |
| Issue Date: 10/1/1994 |
| Size: 3,024 Words, 18,661 Characters |
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Contrary to the perceptions of some in the world's richest countries, the Group of 77 developing nations is not working "to pump wealth from the North to the South," from rich countries to poor but to create policies that will benefit the entire planet.
So asserts Rabah Hadid, Algeria's deputy permanent representative to the United Nations. The Group of 77 (G-77) wants to create "a real kickoff in the world economy, including significant opportunities . . . for the developing countries to grow faster and grow better," says Hadid.
He insists that a faster-growing developing world will gobble up imports and create jobs in the developed world, adding that worldwide development will save the North the economic and political costs of peacekeeping missions in such imploding societies...
. . .
... economic policy.
Development in the so-called South will stimulate exports, employment, and peace the world over.
Strains in G-77 solidarity come when countries develop to the extent that they become wealthy enough to enroll in the OECD.
There is sharp disagreement within the group over the best path to development: free-market therapy or a socialistic approach.
(812 of 18,661 characters)
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