New International Economic Order: Fact or Fairytale?

by Peter Peterson



This paper discusses the requirements of a new international economic order. To succeed, a New Domestic Economic Order within the developing countries should include a major commitment to expand their own food production, a more sustained effort to moderate population growth, a much more effective distribution of income and social services to the poor and an increase in their internal rate of savings and capital investment. The U.S. and other developed countries must lead in the development of a truly New International Economic Order in which no one nation unilaterally can write or rewrite the rules; in which rights are paired with responsibilities; and in which neither benefits nor violations are costless.

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