New Economic Order and International Development Law

Book excerpt: New Economic Order and International Development Law focuses on the legal doctrines for controlling the relations between the economies of the South and the North. The manuscript first offers information on the crisis of the international economic order as a factor in the establishment of international development law, including the rejection of the classical theory of international trade by developing countries and the formulation of a set of special rules for developing countries. The book also takes a look at the removal of economic reciprocity and adoption of unilateral commercial obligations in favor of developing countries and suspension of the most-favored-nation clause and trade preferences in favor of developing countries. The publication elaborates on the acceptance of the clause of ""non-reciprocity"" in trade negotiations between developed and developing countries and clauses in favor of economic and social development in commodity agreements. The text also ponders on the establishment of machinery for solving trade disputes between developed and developing countries; trade and co-operation agreements between socialist and developing countries; and rules relating to private foreign investment. The manuscript is a vital reference for readers and economists interested in international development law and economic order.