The political economy of North-South relations: How much change?

Abstract

At the present time the spectrum of views on the probabilities for major change in the present political economy of North-South relations is very broad. Some scholars predict a significant increase in the bargaining strength of the developing countries; others suggest that the asymmetrical interdependences in today's political economy are unlikely to produce major alterations in North-South bargaining power in the near future. This article examines some of the empirical and theoretical evidence which seems most relevant to the outcome of the present conflict between the Third World and the industrialized states and concludes that arguments predicting major structural changes in. North-South economic relations may have overstated their case.