Negotiating the New International Economic Order is a long and hard process of bargaining ,for the future world order between the rich and tile poor, which is evolving at the global level. It is also an economic expression of the political nationalism...
Negotiating the New International Economic Order is a long and hard process of bargaining ,for the future world order between the rich and tile poor, which is evolving at the global level. It is also an economic expression of the political nationalism in the Third World countries. As the 1950s and 1960s were dominated by the movement for political liberation of nations, the 1970s earmarked the collective movement for economic liberation by the poor from the vicissitude of international market forces largely dictated by the rich.
This study analyzes the shifting patterns of negotiating strategy of the Southern World against the Northern countries. The basic objective of the emerging union of the poor nations is to negotiate a better deal with the rich nations through the instrument of collective bargaining. Global negotiations on the world economy have been intensely pursued since the Declaration and Programme of Action of the NIEO was adopted. But little real progress was achieved bits means of the global strategy.
Faced with difficulties in North-South relations, there have been suggestions for South-South cooperation and regional schemes. The summit conferences of the non-aligned countries, Group of 77, the African-Caribbean and Pacific Group have been the major channels of the South-South cooperation. However, the limited complementality of the Southern economies, coupled with many political harriers. posed mounting difficulties to the South-South unity. In addition, South-South cooperation still lacks common bases of Interests.
Consequently, a new strategic approach is needed. The study proposes a regional cooperation and interregional coordination approach to the NIEO; that could open the stalemated North-South negotiation; that could achieve real progress tollrard NIEO; that could mobilize concrete political will and move beyond rhetoric; that could balance the interests of both the rich and the poor nations; that could give more leverage to the developing countries while providing distributed benefits to all Regionalism in the past failed in nlany parts of the world. In many cases it became an instrument of power politics and an easy way to institutionalize the existing interests of the rich countries. It has also been viewed even more by advocates of Southern solidarity as a move to make the Third World with suspicion dependent on the industrialized countries.
The study, therefore, explores the conditions for regionalism to be a complementary scheme toward realizing the NIEO and the present and future regionalism's potential for realizing the NIEO. In the process, the ASEAN experience is also analyzed to illuminate a new mode of regional or sub-regional bargaining strategy for realizing the NIEO.
Viewed from the NIEO perspectives, regionalism in general and pan-Asian cooperation scheme(i.e., the Pacific-basin Economic Community concepty in particular are not an alternative but a strategic means for achieving the goals of the NIEO. Regionalism in Asia, as embodied by such organization like ASEAN, despite its chequered history, has become an integral part of the Third World extorts to establish new and more equitable economic relations among countries in the region. Much can and must be done on the sub-regional, regional, as well as on the interregional level to make progress toward the NIEO. In any event, the regional approach is likely to function as the deadlock-breaker of the North-South relations, and the Asia will be a testing ground of such a break through in the 1980s.