Geographically, the term SOUTH means ‘South direction’ ,but in International politics South means GROUP OF POOR, DEVELOPING AND THIRLD WORLD COUNTRIES.
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COUNTRIES OF SOUTH
Developing countries of
Asia
Africa
Latin America
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Lima Conference and assertions of the developing nations
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The group of 77 nations which constitute most of the developing countries participating in UNCTAD (The United Nations Conference on Trade and Development was established in 1964) held a ministerial conference in Lima, Peru, from October 28 to November 8, 1971, for the purpose of coordinating the stand to be taken by the developing countries at the third UNCTAD and to reconfirm their unity.
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The "Lima Charter" which was adopted at this conference lists at the outset a 10-point" basic principle," including demands for a more fair system for the international division of labor and for the industrial adjustment of the advanced countries. The main part of the charter lies in its second section which outlines the "action program" relating to future basic policy along the lines of the provisional agenda of the third UNCTAD.
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The strong expectations of the developing nations towards the third UNCTAD appear everywhere throughout this Charter. And strongly painted in the background is the sense of crisis of the South with respect to the ever-growing North-South economic gap, abetted particularly by the uncertainty over the recent international currency crisis.
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For instance, the Charter, in its first part, analyses the recent international economic situation and makes the following points: (a) whereas, in the 1960s, the per capita national income of the advanced nations had increased by more than $650, that of the developing nations had increased by only $40; (b) the developing countries' share of total world export volume was 21.3 per cent in 1960 but had dropped to 17.6 per cent in1970;
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(c) the accumulation of external debts of the developing nations is increasing by a large amount and had reached about $60,000 million at the end of 1969; (d) the technological gap between the advanced and the developing nations is gradually widening; (e) there are strong apprehensions that the trade and development aspects of the nations of the South will be unfavorably affected by the current international currency crisis and by the emergence of protectionism among the advanced nations
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(f) with respect to the flow of capital from the advanced nations to the developing nations, the ratio of official development assistance, which should be called true aid, to GNP is declining. In other words, the keynote of the Lima Charter is dissatisfaction with respect to the fact that, at a time when the basic economic gap between the South and the North is widening, there exists evidence of a decline in the enthusiasm for international development cooperation on the one hand while the changing of the international economic structure is being conducted beyond the reach of the countries of the South on the other hand.
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VIEW POINT OF SOUTH COUNTRIES
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The present day economic system is based on injustice because under it no attention is paid to interests of South.
Resources of developing countries has been exploited by the developed countries.
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The developing countries do not have their access to the markets of the developed countries because the tariff are very high and the developing countries are hot in the position to pay these.
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The present day monetary institution do not bother about the interest of the developing countries rather these are puppets in the hands of the rich countries and look after their interest.
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The present day international economic system strengthen the neo-colonial system , it must be ended.
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With the purpose to regulate the actives of MULTI – NATIONAL CORPORATIONS MNCs code of conduct should be prepared and enforced.
By ending all the loans given to the developing nations , these should be freed from the burden of the loans.
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For the establishment of the NEW INTERNATIONAL ECONOMIC ORDER , dialogue between North and South should be establish because the present international institution are not fit to solve the present day economic problems.