Unit 5

LEGAL ATTEMPS AT NARROWING THE NORTH-SOUTH GAP

1 THE ACTION OF THE WORLD COMMUNITY: GENERAL

It was essentially after the adoption of the UN Charter and the gradual accession of many developing countries to independence, that the international community awoke to the plight of these countries. Four main factors account for this breakthrough: (1) The gradual dismantling of colonial empires unveiled the real conditions of colonial territories and made it clear that political independence was not sufficient. (2) The increasing impact of socialist ideologies on international relations convinced statesmen that they could no longer turn a blind eye to cruel social realities. (3) Some young leaders of developing countries, fully aware of the real conditions of their nations, started vociferously to demand assistance as a way of compensation for the past exploitation by colonial States. (4) The UN offered emergent States a crucial forum where they could put forward their demands and try to reach some sort ofcompromise with the industrialized States.

The international community has adopted a three-pronged strategy in response: (a) a partial modification of international economic and financial institutions (the World Bank, the International Monetary Fund, the GATT and the WTO), so as to make them more responsive to the needs of developing countries; (b) the promotion of multilateral co-operation geared to the development of those countries; (c) the establishment of mechanisms designed to guarantee foreign investments in develop­ing countries.