Interdependence, Disequilibrium, and Growth

This text examines the impact of globalization on different countries and regions. Changing patterns of trade, industrialization, debt, aid and other financial flows are analyzed as is the debate about structural adjustment programmmes. Four recent developments likely to have major implications for North-South relations are identified: the efforts to reduce the US deficit; the emergence of regional trading blocs; the implementation of the Uruguay Round of GATT; and the collapse of the Soviet Union. Finally, the likely impact on North-South relations of pursuing alternative paradigms to economic growth is examined.